Industry Analysis

Pharmaceutical Manufacturing Market Analysis and Size

The global pharmaceutical manufacturing market was valued at USD 405.52 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 11.34% from 2021 to 2028. The pharmaceutical manufacturing industry is expected to benefit from the increasing demand for innovative and cost-effective drugs, as well as the emergence of new technologies for manufacturing that have enabled the production of safer and more efficient drugs. Additionally, the growing acceptance of biosimilar drugs, which can be manufactured more cost-effectively, is expected to further drive the growth of this market. Furthermore, the increasing prevalence of chronic diseases, such as cancer, diabetes, and cardiovascular disease, is also expected to fuel the growth of this market.