Global Pharmaceutical Manufacturing Software Market Size (2024 - 2029)

Pharmaceutical Manufacturing Software Market Analysis

The Pharmaceutical Manufacturing Software Market is expected to register a CAGR of 7.7 % during the forecast period (2022-2027).

Covid-19 has significantly impacted the market growth due to the rise in the need for dependence on Automation and reducing human capital. For instance, according to the study published in the International Journal of Pharmaceutics, titled 'Industry 4.0 for pharmaceutical manufacturing: Preparing for the smart factories of the future in May 2021, the COVID-19 public health emergency has brought attention to the need for manufacturing technologies that can adapt to shifting demand and reduce reliance on human involvement.

The major factors driving the growth of market growth include the rise in the adoption of pharmaceutical manufacturing software by pharmaceutical companies, the increasing cost of drug manufacturing, the increase in industrial Automation, and the increasing need to address manual errors, among others. The rise in the launch of pharmaceutical manufacturing software in the market will lead to increased adoption of such software by the pharmaceutical companies, driving the market growth. For instance, in January 2022, Aizon launched its new asset monitoring application for pharmaceutical manufacturers and biotech companies. Built on Aizon's GxP compliant AI SaaS Platform, Aizon Asset Health provides intelligent historical maintenance analysis, proactively monitors the condition of critical assets in real-time, identifies potential problems, and provides actionable maintenance recommendations that keep equipment up and running optimally.

According to the article published by the European Federation of Pharmaceutical Industries and Associations in 2021, pharmaceutical production in Europe is valued at EUR 293,213 million in 2019 and is estimated to be EUR 310,000 in 2020. Such a high rise in investments in the pharmaceutical industry will lead to the rising adoption of pharmaceutical manufacturing software, driving the market's growth.

In addition, according to the article published in Pharmabiz, titled 'Automation in the pharmaceutical industry in December 2021, increased Automation can help the pharmaceutical business use energy and raw materials more efficiently, increase worker safety, improve regulatory compliance, and improve product quality and consistency. Such studies will therefore lead to a rise in the adoption of pharmaceutical manufacturing software to achieve better quality and productivity in pharmaceutical manufacturing, thereby driving the market's growth. However, the high cost of pharmaceutical manufacturing software, security concerns about on-cloud deployment, and other factors are expected to hamper the market growth.

Pharmaceutical Manufacturing Software Industry Segmentation

As per the scope of this report, pharmaceutical manufacturing software includes recipe management, batch monitoring, expiration management, quality control, compliance tracking, and production scheduling, among other features. In addition, this software also provides features found in most manufacturing or material resource planning (MRP) options, including improved inventory control, order management, and proper purchasing, overall accounting, among others. The pharmaceutical manufacturing software market is segmented by product (on-cloud, and on-premises), enterprise (large enterprise, and small and medium-sized enterprises (SMEs)), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.