Pharmaceutical Manufacturing Market Size, Share & Trends Analysis Report By Molecule Type, By Drug Development Type, By Formulation, By Routes of Administration, By Sales Channel, By Age Group - Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2023-2032

The global pharmaceutical manufacturing market size was exhibited at USD 502.81 billion in 2022 and is projected to hit around USD 1473.35 billion by 2032, growing at a CAGR of 11.35% during the forecast period 2023 to 2032.

Key Pointers:

• In 2022, the conventional drugs (small molecules) segment accounted for the highest revenue share of over 75%.
• Small molecule drugs represent around 65% share in comparison with large molecule drugs.
• The outsourcing segment dominated the market in 2022 with a revenue share of over 60%. 
• In terms of revenue, the tablets dominated the market with a share of over 30% in 2022.
• The oral segment led the global market and was valued at 310.91 billion in 2022. 
• The other diseases segment dominated the market with a revenue share of more than 69% in 2022 
• On the other hand, cancer therapies are anticipated to register the fastest CAGR from 2023 to 2032.
• The prescription medicines segment accounted for the maximum revenue share of 88.73% in 2022 
• The geriatric segment led the global market and was valued at 303.16 billion in 2022. 
• The retail segment accounted for the largest revenue share of 80.95% in 2022.
• North America dominated the market with a share of 39.9% in 2022

The pharmaceutical landscape has undergone a massive transformation with the emergence of new technologies, cost-effective, and more efficient manufacturing approaches. In addition, increasing investment flow in this space has impacted the market growth positively. Manufacturing floor downtime and the production of product waste are reduced by the implementation of robotic technology and Artificial Intelligence (AI). In addition, single-use disposable solutions have gained momentum in this industry and have replaced conventional open transfer manufacturing techniques. Furthermore, the paradigm shift towards integrated, smart, and data-rich paperless operations has resulted in error-free and precise production. Such ongoing developments have propelled drug manufacturing.

The presence of supportive regulatory legislations, patentability norms, and high funding and investments in the pharmaceutical industry are anticipated to drive market growth. In addition, the broadening of preventive care has created significant opportunities in the market.

The high burden of diseases, economic growth leading to a rise in disposable incomes, improvements in healthcare infrastructure, better healthcare financing, and a rise in the geriatric population have spurred the demand for pharmaceutical manufacturing techniques in biotechnology and pharmaceutical companies. These factors have also prompted many individuals to use medications to improve their quality of life and wellness. In addition, the emergence of new pandemics, viruses, and drug-resistant infections has provided potential avenues for pharmaceutical manufacturers to accelerate their drug production.

Several drug developers have shifted their preferences towards continuous manufacturing approaches to minimize production costs, overcome medicine shortages, and improve efficiencies. For instance, in March 2022, CONTINUUS Pharmaceuticals announced the construction of the first GMP facility using continuous manufacturing equipment. The company has received a contract from the U.S. government for the production of finished dosage forms and critical APIs. North America accounted for the highest revenue share in 2032 as the U.S. market represents the largest pharmaceutical industry with a substantial number of drug manufacturers.

Pharmaceutical manufacturing Market Segmentation

Pharmaceutical manufacturing Market Key Players And Regions