Continuous manufacturing is an advanced manufacturing approach with the potential to improve quality and consistency of medications with lower cost.
PUNE, MAHARASHTRA, INDIA, September 30, 2020 /EINPresswire.com/ — Rise in government support for continuous manufacturing adoption and increase in adoption of pharmaceutical continuous manufacturing systems fuel the growth of the global pharmaceutical continuous manufacturing market.
"Pharmaceutical Continuous Manufacturing Market by Product (Integrated Continuous Systems, Semicontinuous Systems, and Control & Software), Application (Final Drug Product Manufacturing and API Manufacturing), and End User (Pharmaceutical Companies, Contract Manufacturing Organizations, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global pharmaceutical continuous manufacturing industry was valued at $393.0 million in 2018, and is projected to reach $854.8 million by 2026, registering a CAGR of 10.2% from 2019 to 2026.
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Pharmaceutical Continuous Manufacturing Market Competitive Analysis:
Leading market players Bosch Packaging Technology, Coperion GmbH, GEA Group AG, Gebrüder Lödige Maschinenbau GmbH, Glatt GmbH, Hosokawa Micron Corporation, Korsch AG, L.B. Bohle Maschinen + Verfahren GmbH, Munson Machinery Company, Inc., and Thermo Fisher Scientific Inc. Provided in this report. These players have adopted various strategies including expansions, mergers & acquisitions, joint ventures, new product launches, and collaborations to gain a strong position in the industry.
Drivers, restraints, and opportunities:
Rise in government support for continuous manufacturing adoption and increase in adoption of pharmaceutical continuous manufacturing systems fuel the growth of the global pharmaceutical continuous manufacturing market. However, poor demand from underdeveloped countries hinders the market growth. On the other hand, untapped potential from emerging countries create number of opportunities in the industry.
The integrated continuous systems segment to maintain its lead position during the forecast period:
Based on product, the integrated continuous systems segment contributed more than two-thirds of the total share of the global pharmaceutical continuous manufacturing market in 2018, and is expected to maintain its lead position during the forecast period. Moreover, this segment is expected to register the highest CAGR of 11.0% from 2019 to 2026. This is due to surge in adoption of integrated continuous manufacturing (ICM) process over the existing drug manufacturing processes, technological advancements, and availability of ICM systems. The research also analyzes the segment including semi-continuous systems and control or software.
The final drug product manufacturing segment to maintain its dominance in terms of revenue by 2026:
Based on application, the final drug product manufacturing segment held the highest market share of the global pharmaceutical continuous manufacturing market, contributing to nearly two-thirds of the total market share in 2018, and is expected to maintain its dominance in terms of revenue during the forecast period. This is due to surge in adoption of continuous manufacturing systems for production of final drugs, rise in number of pharmaceutical companies, and innovations in healthcare infrastructure. However, the API manufacturing segment is expected to register the highest CAGR of 11.7% from 2019 to 2026. This is due to rise in number of approved drugs produced by continuous processes.
North America to lead in terms of revenue during the forecast period:
Based on region, North America accounted for the largest market share in terms of revenue, contributing to more than one-third of the global pharmaceutical continuous manufacturing market in 2018, and is projected to lead in terms of revenue during the forecast period. This is due to presence of well-established infrastructure of the pharmaceutical industry, high adoption of advanced technologies, and wide availability of advanced pharmaceutical continuous manufacturing systems. However, Asia-Pacific is estimated to maintain the highest CAGR of 11.5% from 2019 to 2026, owing to growth in awareness regarding advanced pharmaceutical continuous manufacturing systems, surge in number of pharmaceutical companies, and increase in demand for continuous manufacturing systems in the region.
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Source: EIN Presswire