June 25, 2020
According the research report titled ‘Pharmaceutical Continuous Manufacturing Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product; Application; End User, available with Market Study Report LLC, global pharmaceutical continuous manufacturing market generated revenues worth USD 1,459.53 million in 2019 and is expected to be worth USD 3,064.38 million by the year 2027.
Scarcity of medications along with growing demand for biologics and increasing inclination towards flexible manufacturing practices over batch manufacturing are major factors driving the market growth. Continuous pharmaceutical manufacturing processes involve the development of drug from its base ingredients to the final product without the need to stop or halt during the production process.
Favorable FDA approvals for companies which are transitioning towards continuous manufacturing from batch production is stimulating the industry outlook. The pharmaceutical continuous manufacturing method provides with numerous benefits such as decreased wastage, increased productivity, lowered energy consumption, time-efficiency and reduced risk of human error.
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In fact, according to FDA (Food & Drug Administration), the pharmaceutical manufacturing industry wastes around USD 50 billion annually owing to inefficient production processes. Thus, increasing awareness pertaining to advantages of pharmaceutical continuous manufacturing is also aiding the market expansion. However, high capital investments required for setting-up such systems may act as a restraining factor to the overall market growth.
Based on the product landscape, the pharmaceutical continuous manufacturing industry is split into controls, semi-continuous systems, and integrated systems. The report cites that the integrated systems segment is predicted to expand substantially during the forecast period. These systems are more accessible and easily available, and hence have higher adoption rates as compared to its counterparts.
Elaborating on the application spectrum, the market is divided into API manufacturing and end-product manufacturing. Citing the end-use landscape, the industry is classified into R&D department and full-scale manufacturing companies.
The prominent companies operating in global pharmaceutical continuous manufacturing industry are Hovione, Alexanderwerk AG, Leistritz AG, Korsch AG, Freund-Vector Corp., Fette Compacting, Cadmach Machinery Co. Pvt. Ltd., ACG India, Thermo Fisher Scientific Inc., Powrex Corp, Munson Machinery Co., Inc., Hosokawa Micron Group, Glatt GmbH, Gericke AG, Coperion GmbH, and GEA Group AG among others.