Pharmaceutical Continuous Manufacturing Market Forecast : Rapid Advancements Driving Rapid Growth, Report
The Global Pharmaceutical continuous manufacturing market was valued at $393. million in 2018, and is expected to reach $855 million by 2026, growing at a CAGR of 10.2% from 2019 to 2026.
Technological advancements in continuous manufacturing systems and support from regulatory authorities for adoption of continuous manufacturing systems are expected to witness significant growth in the pharmaceutical continuous manufacturing market during the forecast period. However, the high cost of pharmaceutical continuous manufacturing systems hinders the growth of the pharmaceutical continuous manufacturing market. For modernization of pharmaceutical manufacturing and advantage over batch manufacturing. However, the high cost of pharmaceutical continuous manufacturing systems restrains the market growth.
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Depending on the product, the integrated continuous systems segment accounted for the largest pharmaceutical continuous product market share in 2018 and is expected to exhibit significant growth over the forecast period. This is attributed to the adoption of integrated continuous manufacturing (ICM) processes and the increasing availability of ICM systems.
On the basis of application, the final drug product manufacturing segment currently acts as a major revenue generator and is expected to grow significantly over the forecast period. Increase in the number of pharmaceutical companies, technological advancements in continuous manufacturing systems, and increase in demand for pharmaceutical drugs are the major drivers of this market.
Awareness of advanced pharmaceutical continuous manufacturing systems, increasing number of pharmaceutical companies, and growing demand for continuous manufacturing systems present lucrative opportunities for key players operating in the Asia-Pacific pharmaceutical continuous manufacturing market. However, the high cost of pharmaceutical continuous manufacturing systems may hinder the growth of the market in Asia-Pacific.
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โข On the basis of product, the integrated continuous systems segment held more than 60% share in the global market in 2018.
โข By end user, the pharmaceutical companies segment exhibits fastest growth, and is expected to grow at a CAGR of 10.7% from 2019 to 2026.
โข Depending on application, the final drug product manufacturing segment held largest market share in 2018, and is expected to remain dominant throughout the forecast period.
โข Region wise, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 11.5% during the forecast period.
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The key players profiled in this report include Bosch Packaging Technology, Coperion GmbH, GEA Group AG, Gebrรผder Lรถdige Maschinenbau GmbH, Glatt GmbH, Hosokawa Micron Corporation, Korsch AG, L.B. Bohle Maschinen + Verfahren GmbH, Munson Machinery Company, Inc., and Thermo Fisher Scientific Inc.
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