The global Pharmaceutical Manufacturing Market size was valued at USD 1,425.8 billion in 2020 and is expected to grow a CAGR of 4.8% from 2020 to 2027.
The global pharmaceutical industry is expected to be worth more than $1.3 trillion by the end of 2024, marking a 5% compound annual growth rate. The industry is comprised of companies that make, patent and sell drugs that have therapeutic effect.
Lead player in the global pharmaceutical manufacturing market are Althea Technologies, Aenova, Dishman Pharmaceuticals and Chemicals Limited, Catalent Pharma Solutions, HAUPT Pharma AG, Famar, Kemwell Pvt. Ltd., Jubilant Life Sciences Limited, Nipro Corp., NextPharma, Recipharm, Pfizer Central Source, and Royal DSM N.V.
Catalent, Nov 2020 the leading global provider of advanced delivery technologies, development, and manufacturing solutions for drugs, biologics, cell and gene therapies, and consumer health products, today announced that it has completed the acquisition of Bone Therapeutics’ cell therapy manufacturing subsidiary, Skeletal Cell Therapy Support SA (SCTS), including all of its assets located in Gosselies, Belgium. Under the terms of the agreement, Catalent has purchased the shares of SCTS, previously held by Bone Therapeutics, and a purpose-built CGxP facility of approximately 41,000 square-foot (3,800 square-meters), including its related quality control and product development laboratories, warehouse, grade C and B cleanrooms and equipment as well as land for further development.
Dr. Reddy's Laboratories has agreed to collaborate with the Russian Direct Investment Fund (RDIF) to conduct clinical trials and supply Sputnik V vaccine for Covid-19 in India. As part of the partnership, RDIF will supply 100 million doses of the vaccine to Dr. Reddy’s, after securing regulatory approval in India. Developed by the Gamaleya National Research Institute of Epidemiology and Microbiology, the Sputnik V vaccine is currently being assessed in clinical trials to treat Covid-19 disease.
The huge market for pharmaceutical goods is increasing due to an aging global population, advances in drug-based treatment research, increased investment in healthcare and consumer-driven private health coverage, and rising numbers of patients suffering from cardiovascular disease, cancer and degenerative diseases. Market growth faces particular challenges such as price pressures, strict regulation, lawsuits and expiring patents.
Pharmaceutical Manufacturing Market, by Type is API and FDF. By Application it has splits into Specialty/Midsize, Generics, Big Pharma and Other. By region it has segmented into North America, Europe, ASPAC and Row. Asia Pacific, the market for pharmaceutical manufacturing is expected to witness the fastest growth during the forecast period due to a huge customer base, an increase in healthcare expenditure, disease incidence, and the presence of supportive regulatory systems. Furthermore, recently the region has adapted to new technologies and undergone a digital transformation to achieve sustainable patient care.