Pharma 4.0 Market Recent Trends, Top Companies, Segments And Forecast By 2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Pharma 4.0 Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $38.44 Bn In 2028 At A CAGR Of 20.9%

The pharma 4.0 market size has grown exponentially in recent years. It will grow from $14.92 billion in 2023 to $17.99 billion in 2024 at a compound annual growth rate (CAGR) of 20.5%. The growth in the historic period can be attributed to regulatory compliance and quality assurance, drug patent expirations and generic competition, increasing healthcare expenditure, demand for personalized medicine and biologics, globalization of pharmaceutical markets.

The pharma 4.0 market size is expected to see exponential growth in the next few years. It will grow to $38.44 billion in 2028 at a compound annual growth rate (CAGR) of 20.9%. The growth in the forecast period can be attributed to shift towards value-based healthcare models, aging population and increased healthcare needs, demand for personalized medicine and precision therapeutics, regulatory reforms and changes in healthcare policies, growing emphasis on patient-centric care and outcomes. Major trends in the forecast period include personalized medicine and precision therapeutics, digital health technologies, value-based healthcare models, regulatory harmonization and accelerated approval processes, supply chain digitization and transparency.

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Pharma 4.0 Market Major Segments
The pharma 4.0 market covered in this report is segmented -
1) By Component: Hardware, Software, Services
2) By Technology: Cloud Computing, Artificial Intelligence (Al), Big Data Analytics, Internet of Things (IoT)
3) By Application: Drug Discovery And Development, Clinical Trials, Manufacturing
4) By End-User: Pharmaceutical Companies, Biotechnology Companies, Contract Research Organizations (CROs) And Contract Manufacturing Organizations (CMOs)

Key Driver - Telemedicine And Remote Patient Monitoring Fuel Pharma 4.0 Market Growth

The expansion of telemedicine and remote patient monitoring is expected to propel the growth of the pharma 4.0 market going forward. Telemedicine refers to the practice of providing medical care and consultation remotely using telecommunications technology. Remote patient monitoring involves collecting, transmitting, and analyzing patient health data from a distance using technology-enabled devices and platforms. Telemedicine and remote patient monitoring are expanding due to technological advancements, increasing demand for convenient healthcare access, and the need to manage chronic conditions efficiently. Telemedicine and remote patient monitoring play significant roles in pharma 4.0, facilitating patient-centered care, enabling real-time data collection for personalized medicine, and enhancing pharmaceutical companies' ability to gather patient insights for drug development. For instance, in November 2022, according to Statistics Canada, a Canada-based government agency, one-fourth (24%) of healthcare workers in Canada delivered healthcare services remotely since March 2020, with phone consultations being the most common method, followed by video calls and other digital platforms. Furthermore, in October 2022, according to the Centers for Disease Control and Prevention, a US-based government agency, in the year 2021, telemedicine was utilized by 37.0% of individuals, which increased with age and was more prevalent among women (42.0%) than among men (31.7%). Therefore, the expansion of telemedicine and remote patient monitoring is driving the growth of the pharma 4.0 market.

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Prominent Trend - Adoption Of Cloud-Based Drug Discovery Platforms In Pharma 4.0 Market

Major companies operating in the pharma 4.0 market are developing cloud-based drug discovery platforms, such as StarDrop, to gain a competitive edge. StarDrop is a cloud-based drug discovery platform hosted on remote servers and accessed via the Internet, allowing researchers and pharmaceutical companies to carry out drug discovery activities such as compound screening, molecular modeling, and data analysis in a virtual environment. For instance, in October 2023, Optibrium Ltd., a UK-based biotechnology research company, launched a cloud-based version of its popular drug discovery platform, StarDrop. This platform aims to enhance accessibility and reduce the total cost of ownership for users. It retains all the functionality and interactivity of the desktop application. It allows users to access StarDrop from any internet-connected device, providing greater flexibility for researchers working remotely or across multiple locations. The cloud-based deployment is hosted on Amazon Web Services (AWS). It is supported by Optibrium's ISO 27001-accredited information security system, ensuring advanced data security, including encryption for secure data transfer and protection behind a firewall.

Pharma 4.0 Market Players
Major companies operating in the pharma 4.0 market are Alphabet Inc., Microsoft Corporation, Pfizer Inc., Johnson & Johnson, Amazon Web Services Inc. , Roche Holding AG, International Business Machines Corporation, Merck & Co. Inc., Cisco Systems Inc., Bristol Myers Squibb Company, Oracle Corporation, AstraZeneca PLC, Novartis International AG, GlaxoSmithKline plc, Honeywell International Inc., Fujitsu Limited, ABB Ltd., Siemens Healthineers, GE Healthcare, Lotte Corporation, SAS Institute Inc., Optum Inc., POLARISqb, Syntekabio, Optibrium

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Largest And Fastest Growing Region In The Market
North America was the largest region in the pharma 4.0 market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the pharma 4.0 market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Pharma 4.0 Market Report Structure
3. Pharma 4.0 Market Trends And Strategies
4. Pharma 4.0 Market - Macro Economic Scenario
5. Pharma 4.0 Market Size And Growth
…..
27. Pharma 4.0 Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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