The global pharmaceutical continuous marketing market is anticipated to register a CAGR of 8.45% over the forecast period of 2020-2028
NEW YORK, April 23, 2020 /PRNewswire/ --
KEY FINDINGS
The global pharmaceutical continuous marketing market is anticipated to register a CAGR of 8.45% over the forecast period of 2020-2028. The factors contributing to the growth of the market are the rising adoption of pharmaceutical continuous marketing systems, growth opportunities in unexplored emerging economies, and increasing government initiatives for the adoption of pharmaceutical continuous marketing systems. Further, initiatives taken by the FDA for promoting the use of pharmaceutical CM systems and their advantage over the existing drug manufacturing process are the other crucial factors fueling the market growth.
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MARKET INSIGHTS
Continuous manufacturing is a developed manufacturing process to prepare pharmaceutical products in a short span of time with improved quality, enhanced yield, and lower cost of production.The opportunities offered by the emerging untapped markets are an enhanced pharmaceutical infrastructure, a growing number of pharmaceutical industries, and a surge in demand for pharmaceutical CM systems.
The market is categorized into an integrated continuous system, semi-continuous system, and control & software depending on the product.The integrated continuous system dominates the global market in terms of revenue and market share.
It is attributed to low cost, time efficiency, high quality of the product productivity, and no manual.However, the higher cost of pharmaceutical manufacturing systems continuous systems hinders the market growth.
The intensity of competition in the market is moderate to high, owing to the high growth of the market but low product differentiation.
REGIONAL INSIGHTS
The global pharmaceutical continuous marketing market is geographically segmented into North America, Europe, Asia Pacific, and the Rest of the World.As of 2019, the region of North America dominated the market in terms of revenue, and is projected to maintain the trend until the end of the forecast period.
This is attributed to major factors such as the presence of well-developed infrastructure in pharmaceutical industries, together with a rise in the use of continuous manufacturing systems, among various other factors.
COMPETITIVE INSIGHTS
There are many prominent players functioning and registering their presence in the global market, such as Eli Lilly and Company, Hosokawa Micron Corporation, GEA Group, L.B. Bohle Glatt GmbH, etc.
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Companies mentioned
1. COPERION GMBH
2. ELI LILLY & COMPANY
3. GEA GROUP AG
4. GEBRUDER LODIGE MASCHINENBAU GMBH
5. GLATT GMBH
6. HOSOKAWA MICRON CORPORATION
7. KORSCH AG
8. L.B. BOHLE MASCHINEN + VERFAHREN GMBH
9. MUNSON MACHINERY COMPANY
10. PFIZER INC
11. SIEMENS HEALTHINEERS
12. SYNTEGON (FORMERLY BOSCH PACKAGING TECHNOLOGY)
13. THERMO FISHER SCIENTIFIC INC
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