Digital Pharma Knowledge Management Software Market Size, Trends & Forecasts | Valuates Reports

Digital Pharma Knowledge Management Software Market Size

The global pharmaceutical market is 1475 billion USD in 2022, growing at a CAGR of 5% during the next six years.

The global market for Digital Pharma Knowledge Management Software was valued at US$ million in the year 2024 and is projected to reach a revised size of US$ million by 2031, growing at a CAGR of %during the forecast period.

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The pharmaceutical market includes chemical drugs and biological drugs. For biologics is expected to 381 billion USD in 2022. In comparison, the chemical drug market is estimated to increase from 1005 billion in 2018 to 1094 billion U.S. dollars in 2022. The pharmaceutical market factors such as increasing demand for healthcare, technological advancements, and the rising prevalence of chronic diseases, increase in funding from private & government organizations for development of pharmaceutical manufacturing segments and rise in R&D activities for drugs. However, the industry also faces challenges such as stringent regulations, high costs of research and development, and patent expirations. Companies need to continuously innovate and adapt to these challenges to stay competitive in the market and ensure their products reach patients in need. Additionally, the COVID-19 pandemic has highlighted the importance of vaccine development and supply chain management, further emphasizing the need for pharmaceutical companies to be agile and responsive to emerging public health needs.

By Type
• Cloud-based
• On-premise

By Application
• Medical Biotechnology
• Animal Biotechnology
• Agricultural Biotechnology
• Environmental Biotechnology

Key Companies
Oracle, Callidus Software, SAP, Exo Platform, Theum, Altair Engineering, Mangoapps, Suiterx, Lucidea, Nuance Communications

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This release was published on openPR.