ALBANY, New York, October 5, 2017 /PRNewswire/ --
Many pharmaceutical manufacturers are switching to continuous
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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.
Safety of Process Makes it Popular
Apart from the aforementioned benefits, other advantages of pharmaceutical continuous manufacturing technology is the superior development speeds, higher process safety when employing hazardous chemistries, and the opportunity to perform reactions that cannot be run under batch processing. "Monitoring and control are at the center of successful continuous manufacturing process which is not possible without process analytical technology (PAT); immediate and ongoing feedback of critical process parameters is vibrant if optimum processing conditions is maintained.
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Progress in PAT have been substantial in the recent past, and today there is a wide array of tools applicable for the real-time monitoring of manufacturing processes for both drug substances and drug products. Ultimately continuous process is primed to succeed owing to the maturing of a mix of sophisticated technologies leading to better equipment, accurate monitoring, automation, and software," explains the lead analyst of the TMR report.
Some of the key application segments of the global pharmaceutical continuous manufacturing technology market are biologics, dry powders, active pharmaceutical ingredients, etc. Of them, the segment of biologics accounts for a dominant position in the market. It held a share of about 35.3% in the global market in 2016. It was trailed by active pharmaceutical ingredient.
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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.
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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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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SOURCE Transparency Market Research
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