PUBLISHER: The Business Research Company | PRODUCT CODE: 1619816
PUBLISHER: The Business Research Company | PRODUCT CODE: 1619816
Pharmaceutical manufacturing software consists of specialized applications designed to manage, control, and optimize various processes involved in producing pharmaceutical products. These solutions integrate with manufacturing systems to streamline operations, ensure regulatory compliance, and boost overall efficiency.
The main types of pharmaceutical manufacturing software include manufacturing execution systems (MES), enterprise resource planning (ERP) systems, laboratory information management systems (LIMS), quality management systems (QMS), process analytical technology (PAT) systems, and regulatory compliance software. MES solutions oversee and control production processes on the factory floor, managing workflows, monitoring real-time operations, and ensuring that production processes are executed accurately and efficiently. They track materials, personnel, and equipment throughout the manufacturing process to improve productivity and product quality. These systems can be deployed on-premises, via the cloud, or through a hybrid approach, and cater to large enterprises, small businesses, and midsize companies. End-users include biopharmaceutical companies, medical device manufacturers, contract research organizations, academic research institutions, and others.
The pharmaceutical manufacturing software market research report is one of a series of new reports from the business research company that provides pharmaceutical manufacturing software market statistics, including pharmaceutical manufacturing software industry global market size, regional shares, competitors with an pharmaceutical manufacturing software market share, detailed pharmaceutical manufacturing software market segments, market trends and opportunities, and any further data you may need to thrive in the pharmaceutical manufacturing software industry. This pharmaceutical manufacturing software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The pharmaceutical manufacturing software market size has grown rapidly in recent years. It will grow from $2.85 billion in 2023 to $3.3 billion in 2024 at a compound annual growth rate (CAGR) of 15.6%. The growth observed during the historic period can be attributed to regulatory compliance requirements, increasing complexity in drug production, a demand for enhanced quality control, a rise in biopharmaceutical production, the need for greater efficiency, and efforts to reduce costs.
The pharmaceutical manufacturing software market size is expected to see rapid growth in the next few years. It will grow to $5.91 billion in 2028 at a compound annual growth rate (CAGR) of 15.7%. The anticipated growth during the forecast period can be attributed to advancements in personalized medicine, increased investment in R&D, a heightened focus on supply chain optimization, expansion in the biopharmaceutical sector, and escalating global health challenges. Key trends expected include the adoption of AI, cloud-based solutions, real-time monitoring, integration of IoT technologies, and advancements in quality management.
The growth of the pharmaceutical manufacturing software market is expected to rise with the increase in drug production. Drug production involves the systematic creation of pharmaceutical products, including their formulation, testing, and packaging, to ensure their quality, safety, and efficacy. As global demand for medications grows, increasing drug production is essential to address public health needs and provide timely treatments for various medical conditions. Pharmaceutical manufacturing software aids this process by streamlining operations, improving data accuracy, optimizing resource use, and ensuring compliance with regulations, which enhances overall efficiency and scalability. For example, the European Federation of Pharmaceutical Industries and Associations (EFPIA) reported in June 2023 that the European pharmaceutical industry's production increased from $352.48 billion in 2021 to $369.95 billion in 2022. This expansion in drug production is expected to drive the growth of the pharmaceutical manufacturing software market.
Key players in the pharmaceutical manufacturing software market are focusing on process optimization through the integration of advanced manufacturing technologies, including AI-powered tools. These tools leverage artificial intelligence to improve predictive analytics, streamline manufacturing processes, and boost operational efficiency. For instance, in February 2024, Mareana, a US-based provider of AI-driven analytics and supply chain solutions for the pharmaceutical and life sciences sectors, introduced Connect CMC, an AI-powered tool aimed at transforming data management for smaller pharmaceutical and biotech firms. This tool enhances efficiency, accuracy, and cost-effectiveness by automating data extraction from paper batch records and ensuring GxP compliance, driving digital innovation in drug development.
In May 2023, Antares Vision Group, an Italy-based provider of industrial solutions, acquired Smart Point Technologies. This acquisition is intended to enhance Antares Vision Group's range of solutions by incorporating Smart Point Technologies' specialized software expertise. The deal aims to improve operational efficiencies, meet strict regulatory and compliance standards, and expand market presence. Smart Point Technologies, based in India, offers pharmaceutical manufacturing software solutions.
Major companies operating in the pharmaceutical manufacturing software market are McKesson Corporation, Oracle Corporation, SAP SE, ABB Ltd., Rockwell Automation Inc., Dassault Systemes SE, NetSuite Inc., The Sage Group plc, Epicor Software Corporation, QAD Inc., Intellect Design Arena Ltd., Columbus Manufacturing Inc., MasterControl Inc., Sapphire Systems Ltd., DESKERA PTE LTD, Vormittag Associates Inc., Logic ERP Solutions Pvt Ltd., SYSPRO (Pty) Ltd., Datacor Inc., BatchMaster Software Inc., Fishbowl Inc., Aquilon Software Inc., CompuTec S.A., ERPAG Inc., MRPeasy Ltd.
North America was the largest region in the pharmaceutical manufacturing software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pharmaceutical manufacturing software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the pharmaceutical manufacturing software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The pharmaceutical manufacturing software market consists of revenues earned by entities providing services such as software implementation services, customization, maintenance, and support. The market value includes the value of related goods sold by the service provider or included within the service offering. The pharmaceutical manufacturing software market also includes sales of predictive analytics tools, electronic batch record (EBR) systems, data integration, and management tools. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Pharmaceutical Manufacturing Software Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on pharmaceutical manufacturing software market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for pharmaceutical manufacturing software ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The pharmaceutical manufacturing software market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.