Market Size of Global Pharmaceutical Manufacturing Software Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 7.70 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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.
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Global Pharmaceutical Manufacturing Software Market Size Summary
The pharmaceutical manufacturing software market is experiencing significant growth, driven by the increasing adoption of automation and the need to reduce manual errors in drug production. The COVID-19 pandemic has accelerated this trend, highlighting the importance of adaptable manufacturing technologies that minimize human involvement. The market is characterized by the launch of innovative software solutions, such as Aizon's asset monitoring application, which enhances maintenance and operational efficiency. The rise in industrial automation and the growing complexity of drug manufacturing processes are further propelling the demand for sophisticated software solutions. However, challenges such as high costs and security concerns related to cloud deployment may hinder market expansion.
North America is a dominant region in the pharmaceutical manufacturing software market, supported by a robust healthcare infrastructure and the presence of key industry players. Collaborations between software providers and pharmaceutical giants, like the partnership between Amazon Web Services and Pfizer, are driving technological advancements and software adoption. The market is moderately competitive, with major players like BatchMaster Software, MasterControl, Inc., and Oracle leading the charge. Strategic acquisitions and partnerships, such as Honeywell's acquisition of Performix Inc., are enhancing the capabilities of software solutions, further boosting market growth. The development of on-cloud software and advancements in IoT and 5G technologies are expected to significantly influence the market trajectory in the coming years.
Global Pharmaceutical Manufacturing Software Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Rise in Adoption of Pharmaceutical Manufacturing Software by Pharmaceutical Companies
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1.2.2 Increasing Cost of Drugs Manufacturing
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1.3 Market Restraints
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1.3.1 High Cost of Pharamceutical Manufacturing Software
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1.3.2 Security Concerns Pertaining to On-Cloud Deployment
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Product
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2.1.1 On-Cloud
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2.1.2 On-Premise
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2.2 By Enterprise
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2.2.1 Large Enterprises
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2.2.2 Small and Medium-Sized Enterprises (SMEs)
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 South Korea
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 Middle East and Africa
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2.3.4.1 GCC
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2.3.4.2 South Africa
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2.3.4.3 Rest of Middle East and Africa
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2.3.5 South America
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2.3.5.1 Brazil
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2.3.5.2 Argentina
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2.3.5.3 Rest of South America
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Global Pharmaceutical Manufacturing Software Market Size FAQs
What is the current Global Pharmaceutical Manufacturing Software Market size?
The Global Pharmaceutical Manufacturing Software Market is projected to register a CAGR of 7.70% during the forecast period (2024-2029)
Who are the key players in Global Pharmaceutical Manufacturing Software Market?
BatchMaster Software, MasterControl, Inc, SAGE GROUP plc, Vormittag Associates, Inc. and Oracle are the major companies operating in the Global Pharmaceutical Manufacturing Software Market.
