Pharmaceutical Continuous Manufacturing Market Development, Trends, Segmentations Analysis
The global pharmaceutical continuous manufacturing market is highly competitive due to presence of numerous players, finds Transparency Market Research (TMR). Some of the key players operating in the global pharmaceutical continuous manufacturing market GEA group, Siemens AG, Continuus Pharmaceutical, Korsch AG, S K Biotek ltd, Corning Life Sciences, Scott Equipment Company, and Chemtrix. Key players are aiming to provide safer equipment, to achieve this the key players are investing on research and developing activities for offering better product.
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TMR anticipated the global revenue of the pharmaceutical continuous manufacturing market to expand with a CAGR of 8.8% over the forecast period from 2017 to 2025. With this pace, the market is expected to attain value of US$3.693 bn by the end of 2025 from the registered value of US$1.74 bn in 2016.
On the basis of application, biologics accounts for a dominant position in the market. It held a share of about 35.3% in the global market in 2016. Among them, Europe leads the market with maximum share on the back of rising demand for superior technology from contract manufacturing organizations and pharmaceutical companies. The region accounted for a leading 35% share in the market in 2016.
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Advantages of Continuous Process Manufacturing to Boost Growth
In continuous production process, active ingredients are prepared in the small and closed units in the rented or borrowed automation equipment with fewer manual inference. The manufacturing process is conducted in batches in continuous process. It uses production capacity of plant continuously which is a key benefit of the process.
The continuous process minimizes the fluctuations in the production to improve yields and lowers the cost of operation substantially. On the back of aforementioned factors, companies are adopting the continuous manufacturing process is especially in pharmaceutical industry which is driving growth of the global pharmaceutical continuous manufacturing market.
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Improved Safety in Process to Boost Adoption
Continuous manufacturing process are able to speed up the manufacturing process and improve safety while using hazardous chemical and conduct risky process. It improves efficiency of the pharmaceutical manufacturing are boosting adoption of the pharmaceutical continuous manufacturing process across numerous companies which is driving growth of the global pharmaceutical continuous manufacturing market.
Despite of these growth prospect, lack of technical and regulatory clarity are limiting adoption of the pharmaceutical continuous manufacturing process which is hampering growth of the global pharmaceutical continuous manufacturing market.
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Nevertheless, ease in the monitoring and control without process analytical technology (PAT) coupled with advancements in PAT have improves adoption of the pharmaceutical continuous manufacturing process which is creating lucrative opportunities in the global pharmaceutical continuous manufacturing market for upcoming years. Additionally, continuous process is expected to have growth prospect owing to the maturing of mix of sophisticated technologies leading to accurate monitoring, automation, better equipment, and software.
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