The global pharmaceutical manufacturing market is expected to witness lucrative growth over the forecast period, owing to the increasing prevalence of chronic diseases and the growing demand for medications. Major drivers for the market are improved healthcare standards, quick and immediate relief expectation of patients, and expiry of various patents over the next few years. The discovery of numerous new pathogens and development of medicine to treat/ prevent illness due to the same reason, also contribute to the growth of the market. Availability of health insurance to individuals that helps meet the healthcare expenses is another high impact rendering driver for this market. Rising awareness for disease prevention rather than treatment contributes to enhancing the growth of the preventive medicine market. Huge investments by the market players and supportive government initiatives into R&D and technological advancement in treatment discovery are expected to fuel the market during the forecast period.
The pharmaceutical manufacturing market is segmented on various bases, such as prescription requirement, end users, formulation, route of administration, and type of disease. Based on prescription requirement market are classified into prescription based medicines and OTC (Over the Counter) medicines. Based on end user they are classified into, neonates and pediatrics, adults, geriatrics and pregnant women. Presently the market is dominated by the geriatric segment and is expected to remain same during the forecast period due to rising base of global geriatric population. On the basis of formulation the market is segmented into tablets, capsules, injectables, syrups, suspensions, emulsions, powders, and others. Based on route of administration the market is segmented into oral, topical, enteral, parenteral, and inhalations. The market for oral medicines is the largest of the entire segment in terms of production. On the basis of disease, the market is segmented into cardiovascular, neurological, renal, cancer, respiratory disease treatment, and others.
Globally, North America is the largest market for pharmaceutical manufacturing in terms of revenue, followed by Europe. The Asia Pacific region is expected to witness lucrative growth and emerge as the fastest growing region, owing to the efforts of China to become the world’s second largest market overtaking Japan. Other emerging economies such as India, South Korea, Malaysia, Indonesia and Thailand are expected to generate huge sales owing to low cost, amplified medical tourism, healthier lifestyle adoption, higher disposal incomes and growth of generics. High efficiency and low cost of labor further act as drivers for opening up of manufacturing facilities in the region.
Key players of the market are Pfizer, GlaxoSmithKline, Novartis, Amgen, Takeda, Abbott Laboratories, Sanofi, Astra Zeneca, Roche, Eli Lily, Merck & Co., Novo Nordisk, Gilead Sciences, Lupin, Cipla, Actavis, Otsuka, Bayer, and Daiichi Sankyo. Initiatives for collaboration and expansion by models of joint ventures between pharmaceutical companies over the forecast period aim at increasing the productivity of pharmaceutical research by aiding involvement of academia and the public and private sectors.
Avail customized purchase options to meet your exact research needs:
Get your queries resolved from an industry expert.
Design an exclusive study to serve your research needs.
A testimonial for service in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.
"The quality of research they have done for us has been excellent..."
Multiple therapeutic regimens are being followed across the globe in attempts to come up with a reliable treatment for Covid-19. One line of treatment includes the use of hydroxychloroquine, while a second treatment line focuses to use antiviral drugs used in the disease management of HIV. Both these approaches have surged demand from advanced antivirals and antimalarial drugs. This impacts the drug manufacturers as an off label indication for these drug classes has to be worked upon. At the moment, the WHO has not prescribed any of these approaches, neither they have commented if one is better than the other. The report will account for Covid19 as a key market contributor.