Continuous manufacturing has been gaining traction in the market studied due to its potential to improve its quality and consistency of medication at lower costs. Furthermore, the adaptation of continuous manufacturing in the pharma industry and rising demand for the medication due to the growing prevalence of diseases around the world is likely to propel the market growth.
- Continous manufacturing help manufacturers to meet the market demand at the same time, which lowers the cost of manufacturing. Moreover, technological advancements in manufacturing and support from government agencies are expected to bolster the studied market's growth.
- In addition, product recalls and shortage of drugs have been impelling market growth. However, the slow adaptation of continuous manufacturing, lack of regulatory, and technical clarity regarding guidelines are projected to impede the market growth in a negative manner.
Key Market Trends
Integrated Continuous Manufacturing is Projected to Grow at Significant Rates
- Many pharmaceutical and healthcare manufacturing companies have been adopting continuous manufacturing technologies having automation and minimal human interference.
- Furthermore, these integrated continuous manufacturing has been benefiting the manufacturers by lowering the production costs, time, and increasing their margin.
- In continuous manufacturing, raw materials are inserted into the system and the final product is produced in a continuous manner. This enables the manufacturers to respond quickly to demand.
- The companies have been largely investing in improving their existing manufacturing technologies, and the rising number of pharmaceutical manufacturers has been fuelling the market growth over the forecast period.
- Contract manufacturing organizations are expected to register a notable growth rate over the forecast period, owing to the increase in the number of contract manufacturing organizations in the developing regions.
- Moreover, the escalating number of drug approvals and need for more number of manufacturing facilities to meet the studied market's demand is anticipated to boost the market growth.
North America Dominates the Market and is Expected to Continue the Same Over the Forecast Period
North America is projected to have a significant market share over the forecast period, owing to the presence of key market players and the availability of advanced technologies. Furthermore, favorable regulatory infrastructure and high demand for medicine are projected to boost the market growth in the region. For instance, in February 2019, FDA has released draft guidelines for industry on the continuous manufacturing of medicinal products. That covers all aspects of manufacturing. Moreover, high investment in research and development in pharma and biotechnological companies in the region is projected to boost the market growth in the region. The Asia-Pacific region is believed to have robust growth opportunities, owing to the developing healthcare infrastructure, low cost of raw material, and manufacturing of the products especially in the developing countries, such as India.
The continuous manufacturing market is moderately competitive having a limited number of manufacturers. The market players have been focusing on merging the automation with the product manufacturing technologies to reduce the manufacturing costs and improve efficiency. The market players operating in the market studied include GEA Group AG, Robert Bosch GmbH, Glatt GmbH, Thermo Fisher Scientific, and Siemens, among others.
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