The Pharma Market can be majorly defined with Manufacturing, Packaging, Drug Delivery, Active Pharmaceutical Ingredients (APIs), Drug Discovery and Development Services, Drugs, Therapy and Immunotherapy Drugs and Vaccines.

The global pharmaceutical contract development and manufacturing market is projected to reach USD 146.1 billion by 2025 from USD 100.7 billion in 2020, at a CAGR of 7.7%.

Market growth is driven mainly by factors such as rising demand for generics, increasing investments in pharmaceutical R&D, and investments in advanced manufacturing technologies by CDMOs. The increasing demand for biological therapies, growing focus on specialty medicines, growth in the nuclear medicines sector, and advancements in cell and gene therapies are also expected to offer market growth opportunities in the coming years.

• Patent expiry and increasing demand for generic drugs is the Driver.
• Growing demand for cell and gene therapies is one of the major opportunities in the market.
• The biologics manufacturing services segment will witness the highest growth.

The global pharmaceutical packaging equipment market is projected to reach USD 10.4 billion by 2025 from USD 7.3 billion in 2020, at a CAGR of 7.4%.

The growth of the market is driven by the rapidly growing generic and biopharmaceutical markets, growth in OTC drug sales, rising need for flexible and integrated packaging equipment, increased offshore manufacturing in the pharmaceuticals market, and the introduction of regulatory standards on packaging and stringent norms against counterfeiting. However, factors such as the adoption of refurbished packaging equipment and the high cost of packaging equipment are expected to restrain market growth to a certain extent.

• High growth in the generics and biopharmaceuticals is the market driver.
• Growing preference for refurbished equipment is a market restraint.
• Increasing pharmaceutical R&D investments is an opportunity.
• Uncertainties in regulations and standards will remain a challenge.

The topical drug delivery market is projected to reach USD 129.8 billion by 2025 from USD 95.2 billion in 2020, at a CAGR of 6.4%.

The growth of this market is majorly driven by the high prevalence of skin and soft tissue infections, the increasing prevalence of eye diseases, and burns. However, the presence of alternative drug delivery modes such as oral and injectable routes is expected to restrain the growth of this market.

• High prevalence of skin diseases is a market driver.
• Preference for alternative modes of drug delivery is a market restraint.
• Delivery of biologics through the transdermal route is the market opportunity.
• Technical barriers related to skin irritation and permeability is a market challenge.
• The dermal drug delivery segment is expected to grow at the highest.
• The home care settings segment is expected to account for the largest share.

The global active pharmaceutical ingredients market size is projected to reach USD 248.3 billion by 2025 from USD 187.3 billion in 2020, at a CAGR of 5.8%.

Market growth is driven mainly by factors such as rising drug R&D, the increasing incidence of chronic diseases, the growing importance of generics, and the increasing uptake of biopharmaceuticals. On the other hand, unfavorable drug price control policies across various countries and high manufacturing costs are expected to restrain the growth of this market.

• Increasing incidence of chronic diseases is the market driver.
• High manufacturing costs remains a market restraint.
• Emerging biosimilars market is the opportunity.
• The innovative APIs segment dominated the active pharmaceutical ingredients market.
• The oncology segment will witness the highest growth.

The global drug discovery services market size is projected to reach USD 21.4 billion by 2025 from USD 11.1 billion in 2020, at a CAGR of 14.0%.

Growing R&D expenditure in the pharmaceutical & biopharmaceutical industry, thus necessitating increasing demand for outsourcing analytical testing and clinical trial services. Initiatives for research on rare diseases and orphan drugs and focus on drug discovery are driving the growth of the global drug discovery services industry. Growth in biologics, patent expiries and emerging economies are expected to provide a wide range of growth opportunities for players in the market.

• Growing R&D expenditure in the pharmaceutical & biopharmaceutical industry is the market driver.
• High cost of drug discovery and development is a market restraint.
• Growth in biologics market is the market opportunity.
• By drug type, small molecule drugs accounted for the largest share in the drug discovery services market.

The global vaccines market is projected to reach USD 58.4 billion by 2024 from USD 41.7 billion in 2019, at a CAGR of 7.0%.

The growth of this market is majorly attributed to the high prevalence of infectious diseases, increasing company initiatives to enhance vaccine R&D, growing government support for vaccine development, and the rising focus on immunization. However, the huge capital investments required for developing vaccines may restrain market growth.

• Pediatric patients segment accounted for the larger share of the vaccines market, by patient type.
• By technology, the conjugate vaccines segment accounted for the largest market share.

The global COVID-19 vaccines market is projected to reach USD 1,401 million by 2025 from USD 2,273 million in 2022, at a CAGR of -14.9%.

The growth of the COVID vaccines market is attributed majorly to the rising number of people infected with COVID-19 and increasing funding for vaccine development.

On the other hand, the global COVID-19 drugs market is projected to reach USD 2 million by 2025 from USD 165 million in 2020, at a CAGR of -57.8% during the forecast period. The growth of the COVID drugs market is primarily attributed to use of repurposed drugs for compassionate use, and the emergence of alternative therapies such as convalescent plasma therapy which were earlier used for treating epidemic diseases such as SARS, MERS, and H1N1. Moreover, collaborations between global organizations and governments of various nations to promote the supply of essential drugs and medical supplies are fueling the market growth.

• Currently, the R&D landscape for COVID-19 vaccines includes 115 vaccine candidates.
• Funding from global governments and foundations is promoting the growth of the market.
• Vaccine manufacturing ramp-up to drive the growth further.

Ref: https://www.marketsandmarkets.com