Albany, NY -- (SBWIRE) -- 05/07/2019 -- Global Pharmaceutical Continuous Manufacturing Technology Market: Snapshot
In pharmaceutical continuous manufacturing technology, active ingredients are produced in compact, closed units, leveraging automation. Hence, it requires fewer manual interventions. Production steps carried out sequentially in a classic batch process are combined in a continuous process. All these help to bring about continued utilization of production capacity. This in turn serves to reduce fluctuations in production, improve yields, and lower costs of operation and equipment. On account of such advantages, the method is seeing fast adoption.
Other advantages of pharmaceutical continuous manufacturing technology is the superior development speeds, higher process safety when employing hazardous chemistries, and the opportunity to perform reactions that cannot be run under batch processing.
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A study by Transparency Market Research forecasts the global pharmaceutical continuous manufacturing technology market to expand at a healthy CAGR of 8.8% from 2017 to 2025. Expanding at this pace, the market which was worth US$1.74 bn in 2016 is expected to attain a value of US$3.693 bn in 2025.
Contract Manufacturing Organizations in Asia Pacific to Drive Market
Some of the key application segments of the global pharmaceutical continuous manufacturing technology market are biologics, dry powders, active pharmaceutical ingredients, etc. Of them, the segment of biologics accounts for a dominant position in the market. It held a share of about 35.3% in the global market in 2016. It was trailed by active pharmaceutical ingredient.
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Application-wise, the global pharmaceutical continuous manufacturing technology market can be divided into contract manufacturing organizations, pharmaceutical companies, etc. Currently, pharmaceutical companies lead the market with maximum demand and are trailed by contract manufacturing organizations. In the near future, the contract manufacturing organizations in Asia Pacific region are predicted to fuel market growth majorly. Along with increasing awareness about the technology, various initiatives by FDA are also egging manufacturers to shift to continuous manufacturing over batch manufacturing process.
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