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Emerging Trends Influencing The Growth Of The Polymerase Chain Reaction Molecular Diagnostics Market: Advancements in Digital Technology Enhance Precision and Speed in Disease Detection
Polymerase Chain Reaction Molecular Diagnostics Market
What Is the Projected Growth of the Pharmaceutical Manufacturing Market?
In recent years, the size of the pharmaceutical manufacturing market has witnessed significant growth. The forecast predicts that the growth will continue from $519.78 billion in 2024 to $573.95 billion in 2025, showing a compound annual growth rate (CAGR) of 10.4%. Factors contributing to the growth during the historic period include the rise in global disease prevalence, increased healthcare expenditure, growing demand for generic drugs, expiration of patents for blockbuster drugs, and the expansion of the production capacity in the pharmaceutical sector.
The market size for pharmaceutical manufacturing is anticipated to expand rapidly in the forthcoming years. By 2029, it is projected to reach a value of $846.74 billion, with a compound annual growth rate (CAGR) of 10.2%. This growth during the forecasted period can be associated with various factors such as the development in personalized medicine, an increase in the aged population, higher demand for biosimilars, government backing for local manufacturing, and a rise in the prevalence of chronic diseases. Key trends for the forecasted period encompass progress in continuous manufacturing, incorporation of artificial intelligence, the uptake of smart manufacturing technologies, advancements in the production of biologics, and an emphasis on research and development efficiency.
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What Are the Different Pharmaceutical Manufacturing Market Segments?
The pharmaceutical manufacturing market covered in this report is segmented -
1) By Molecule Type: Biologics And Biosimilars, Conventional Drugs
2) By Formulation: Tablets, Capsules, Injectable, Sprays, Suspensions, Powders, Other Formulations
3) By Route Of Administration: Oral, Topical, Parenteral, Inhalations, Other Route Of Administrations
4) By Therapy Area: Cardiovascular Diseases (CVDs), Pain, Diabetes, Cancer, Respiratory Diseases, Other Diseases
5) By Sales Channel: Retail, Non-retail
Subsegments:
1) By Biologics And Biosimilars: Monoclonal Antibodies, Vaccines, Recombinant Proteins, Cell Therapies, Gene Therapies, Hormones, Blood And Plasma Products
2) By Conventional Drugs: Analgesics, Antipyretics, Antibiotics, Antivirals, Antifungals, Antihypertensives, Antidepressants, Antidiabetics
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What Are the Primary Drivers Shaping the Pharmaceutical Manufacturing Market?
The growth of the pharmaceutical manufacturing market is anticipated to be driven by the escalating prevalence of chronic diseases. Chronic illnesses are enduring health problems typically advancing slowly, persisting for over a year, and often necessitating continuous medical care or limiting day-to-day activities. The increasing occurrence of these conditions is attributed to longer life expectancies, inactive lifestyles, and unhealthy eating habits. These factors increase the need for long-term healthcare options and prevention-focused wellness strategies. Pharmaceutical manufacturing caters to this demand by ensuring a constant availability of crucial medications, promoting innovation in drug creation, and answering the rising demand for efficient longer-term treatment methods. To illustrate, the National Health Service, a government department based in the UK, noted in September 2024 that advanced chronic kidney disease was prevalent in 11% of adults 35 years old and above, with the prevalence and severity augmenting with age. Approximately 48% of those 75 years and older have some manifestation of the illness, with 36% in more serious stages. As such, the growing prevalence of chronic diseases is propelling the pharmaceutical manufacturing market's expansion.
Which Companies Are Leading in the Pharmaceutical Manufacturing Market?
Major companies operating in the pharmaceutical manufacturing market are Pfizer Inc., Johnson & Johnson Services Inc., F. Hoffmann-La Roche Ltd., Merck & Co. Inc., AbbVie Inc., Sanofi SA, Bristol Myers Squibb Company, Thermo Fisher Scientific Inc., AstraZeneca plc, Abbott Laboratories, Novartis AG, GlaxoSmithKline plc, Takeda Pharmaceuticals Inc., Eli Lilly and Company, Gilead Sciences Inc., Novo Nordisk A/S, Lonza Group AG, Sun Pharmaceutical Industries Ltd., Dr. Reddy's Laboratories, Cipla Limited, Samsung Biologics, FUJIFILM Diosynth Biotechnologies U.S.A. Inc., Lupin Limited, Jubilant Pharmova Limited.
What Pharmaceutical Manufacturing Market Trends Are Gaining Traction Across Different Segments?
Leading firms in the pharmaceutical manufacturing market are concentrating their efforts on creating innovative solutions like fully automated RLT production facilities. These advancements aim to boost production efficiency, maintain stringent quality standards, and fulfil the rising demand for specific cancer treatments. A fully automated RLT production facility entails a sophisticated production area employing cutting-edge automation technologies to enhance and refine the manufacturing of radioligand therapies, thereby ensuring reliable, productive, and scalable production. For example, in January 2024, Novartis AG, a pharmaceutical company based in Switzerland, secured approval from the US Food and Drug Administration (FDA) to manufacture Pluvicto at a modern radioligand therapy (RLT) manufacturing facility in Indianapolis. This will notably augment production capacity for its radioligand therapy drugs, including Pluvicto and Lutathera. This expansion signifies a part of Novartis' wider approach to cater to the escalating worldwide demand for specific cancer therapies and augment global patient accessibility.
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What Are the Top Revenue-Generating Geographies in the Pharmaceutical Manufacturing Market?
North America was the largest region in the pharmaceutical manufacturing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pharmaceutical manufacturing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Pharmaceutical Manufacturing Market?
2. What is the CAGR expected in the Pharmaceutical Manufacturing Market?
3. What Are the Key Innovations Transforming the Pharmaceutical Manufacturing Industry?
4. Which Region Is Leading the Pharmaceutical Manufacturing Market?
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