Market Trends of Global Continuous Manufacturing Industry
This section covers the major market trends shaping the Continuous Manufacturing Market according to our research experts:
Integrated Continuous Manufacturing is Projected to Grow at Significant Rate Over the Forecast Period
Many pharmaceutical and healthcare manufacturing companies have been adopting continuous manufacturing technologies having automation and minimal human interference. Furthermore, this integrated continuous manufacturing has been benefiting the manufacturers by lowering the production costs, and time, and increasing their margins.
According to the article titled "Continuous manufacturing versus batch manufacturing: benefits, opportunities for manufacturers and regulators" published in January 2021, along with the increased processing speed and control of continuous manufacturing, it will lower the cost of production and grant tremendous cost advantages, especially with high-volume production.
In continuous manufacturing, raw materials are inserted into the system and the final product is produced continuously. This enables the manufacturers to respond quickly to demand. The rising government investments in the companies for improving their existing manufacturing technologies, and the rising number of pharmaceutical manufacturers have been fuelling market growth over the forecast period. For instance, in January 2021, Continuus Pharmaceuticals received a receipt of a USD 69.3 million contract from the United States government to facilitate the domestic production of vital medicines to treat critically ill patients. Contract manufacturing organizations are expected to register a notable growth rate over the forecast period, owing to the increase in the number of contract manufacturing organizations in developing regions. Moreover, the escalating number of drug approvals and the need for more manufacturing facilities to meet the studied market's demand are anticipated to boost the market growth.
Thus, the above-mentioned factors are expected to drive the growth of the studied segment in the market during the forecast period.
North America Dominates the Market and is Expected to Continue the Same Over the Forecast Period
North America is projected to have a significant market share over the forecast period, owing to the presence of key market players and the availability of advanced technologies. Furthermore, favorable regulatory infrastructure and high demand for medicine are projected to boost the market growth in the region. Moreover, high investment in research and development in pharma and biotechnological companies in the region is projected to boost the market growth in the region. For instance, in June 2022, National Resilience Inc. raised USD 625 million in series D financing, which would be spent in part on continuous manufacturing for biologics. Similarly, the rising market player's strategies such as collaborations to obtain a larger market share are also expected to drive the growth of the market in this region. For instance, in May 2022, Agilent collaborated with APC Ltd., for working towards combining their technologies to provide unique workflows to customers that support automated process analysis via liquid chromatography.
Additionally, the increasing support from government organizations is also expected to drive the growth of the studied market in this region. For instance, in October 2021 the United States House of Representatives passed a bill, H.R. 4369 that promotes advanced manufacturing through the creation of national centers for excellence in continuous manufacturing at various universities across the country.
Thus, the above-mentioned factors are expected to drive the growth of the market during the forecast period in this region.
