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Pharmaceutical Manufacturing Market 2030 Size, Share, Trend
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Pharmaceutical Manufacturing Market Highlights and Key Statistics:
● The Global Pharmaceutical Manufacturing Market Size valued for USD 426 Billion in 2021 and is anticipated to reach USD 1,600 Billion by 2030.
● The market is growing at a CAGR of 15.9% from 2022 to 2030.
● North America held the largest share in 2021, driven by the presence of major players, comprehensive innovative activities, and elevated healthcare spending.
● Key Players AstraZeneca, Eli Lilly and Company, F. Hoffmann-La Roche Ltd., GlaxoSmithKline plc, Johnson & Johnson,
Pharmaceutical Manufacturing Market Overview and Analysis:
The Pharmaceutical Manufacturing Market is characterized by its focus on technology, with the adoption of the most recent technologies, such as augmented reality (AR), virtual reality (VR), and additive manufacturing, assisting pharmaceutical companies in accelerating research and development, developing personalized products, and conducting testing in novel ways. The market is witnessing continuous innovations aimed at improving the effectiveness and efficiency of healthcare, changing the experience for both patients and providers.
Latest Pharmaceutical Manufacturing Market Trends and Innovations:
The pharmaceutical sector invested $83 billion in R&D in 2019, roughly ten times what the sector spent annually in the 1980s, after accounting for inflation.
The number of new drugs accepted for sale increased by 60% between 2010 and 2019 compared to the prior decade, with a peak of 59 new drugs approved in 2018.
Major Growth Drivers of the Pharmaceutical Manufacturing Market:
The anticipated revenue from a new drug, the anticipated development costs, and laws that affect drug supply and demand all play a role in determining how much money pharmaceutical companies invest in research and development.
The rising number of regional players and the increased focus of major global players on the region's developing markets are expanding the regional pharmaceutical manufacturing market value.
Key Challenges Facing the Pharmaceutical Manufacturing Market:
The multi billion dollar price tag and the huge failure rate for new drug development.
The technological development required for industrial pharmaceutical manufacturing production and the production of volatile organic compounds during processes.
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Market Segmentation Insights:
By Formulation:
● Capsules
● Injectable
● Powders
● Sprays Suspensions
● Tablets
● Others
By Route of Administration:
● Inhalations
● Oral
● Parenteral
● Topical
● Others
By Prescription:
● Prescription Medicines
● Over-the-counter (OTC) Medicines
By Drug Development:
● In-House
● Outsource
By Distribution Channel:
● Online
● Offline
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Regional Overview of the Pharmaceutical Manufacturing Market:
North America dominated the global pharmaceutical manufacturing market in 2021, with the highest revenue share and is expected to maintain its dominance over the projected period from 2022 to 2030. The Asia-Pacific region is predicted to experience the fastest growth rate from 2022 to 2030, primarily being supported by the region's developing economies' burgeoning pharmaceutical industries.
List of Key Players in the Global Market:
AstraZeneca, Eli Lilly and Company, F. Hoffmann-La Roche Ltd., GlaxoSmithKline plc, Johnson & Johnson, Lonza, Merck & Co. Inc., Novartis AG, Pfizer, Inc., Sanofi SA, and others.
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