Pharmaceutical Continuous Manufacturing Technology Market: Ability to Remove Production Fluctuation Drives Adoption of Technology
As per a report by Transparency Market Research, The Global Pharmaceutical Continuous Manufacturing Technology Market will likely rise at a healthy CAGR of 8.8% during the period between 2017 and 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.Many pharmaceutical manufacturers are switching to continuous production from batch methods. In continuous production, active ingredients are produced in compact, closed units, leveraging automation and fewer manual interventions. Production steps carried out sequentially in a classic batch process are integrated in a continuous process. The main unique perceived benefit of pharmaceutical continuous manufacturing technology is that it brings 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 swift uptake.
The key geographic regions in the global pharmaceutical continuous manufacturing technology market studied in the report are North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. 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. In the years ahead too, the region is expected to retain its leading position in the market by expanding at maximum pace. This is mainly on account of the early availability of advanced technologies and greater number of technology providers across the region.
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Some of the prominent participants in the global pharmaceutical continuous manufacturing technology market are Siemens AG, GEA group, Continuus Pharmaceutical, S K Biotek ltd, Korsch AG, Scott Equipment Company, Corning Life Sciences, and Chemtrix.
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