The pharma 4.0 global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Pharma 4.0 Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The pharma 4.0 market size has grown exponentially in recent years. It will grow from $14.92 billion in 2023 to $17.99 billion in 2024 at a compound annual growth rate (CAGR) of 20.5%. The growth in the historic period can be attributed to regulatory compliance and quality assurance, drug patent expirations and generic competition, increasing healthcare expenditure, demand for personalized medicine and biologics, globalization of pharmaceutical markets.
The pharma 4.0 market size is expected to see exponential growth in the next few years. It will grow to $38.44 billion in 2028 at a compound annual growth rate (CAGR) of 20.9%. The growth in the forecast period can be attributed to shift towards value-based healthcare models, aging population and increased healthcare needs, demand for personalized medicine and precision therapeutics, regulatory reforms and changes in healthcare policies, growing emphasis on patient-centric care and outcomes. Major trends in the forecast period include personalized medicine and precision therapeutics, digital health technologies, value-based healthcare models, regulatory harmonization and accelerated approval processes, supply chain digitization and transparency.
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Scope Of Pharma 4.0 Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Pharma 4.0 Market Overview
Market Drivers –
The expansion of telemedicine and remote patient monitoring is expected to propel the growth of the pharma 4.0 market going forward. Telemedicine refers to the practice of providing medical care and consultation remotely using telecommunications technology. Remote patient monitoring involves collecting, transmitting, and analyzing patient health data from a distance using technology-enabled devices and platforms. Telemedicine and remote patient monitoring are expanding due to technological advancements, increasing demand for convenient healthcare access, and the need to manage chronic conditions efficiently. Telemedicine and remote patient monitoring play significant roles in pharma 4.0, facilitating patient-centered care, enabling real-time data collection for personalized medicine, and enhancing pharmaceutical companies’ ability to gather patient insights for drug development. For instance, in November 2022, according to Statistics Canada, a Canada-based government agency, one-fourth (24%) of healthcare workers in Canada delivered healthcare services remotely since March 2020, with phone consultations being the most common method, followed by video calls and other digital platforms. Furthermore, in October 2022, according to the Centers for Disease Control and Prevention, a US-based government agency, in the year 2021, telemedicine was utilized by 37.0% of individuals, which increased with age and was more prevalent among women (42.0%) than among men (31.7%). Therefore, the expansion of telemedicine and remote patient monitoring is driving the growth of the pharma 4.0 market.
Market Trends –
Major companies operating in the online bookkeeping and accounting software market are focused on developing innovative solutions, such as QuickBooks Online Accountant, to meet evolving business needs. QuickBooks Online Accountant streamlines financial processes, minimizes errors, and frees up time for businesses to focus on strategic activities. For instance, in May 2023, Intuit Inc., a US-based business software company specializing in financial software, launched QuickBooks Online Accountant globally, providing free access to accounting professionals in over 170 countries. The platform offers features such as a singular login and dashboard for real-time client data, automated transactions, workflows for task automation, integrated apps for various functions, and predictive AI-based tax estimations.
The pharma 4.0 market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Technology: Cloud Computing, Artificial Intelligence (Al), Big Data Analytics, Internet of Things (IoT)
3) By Application: Drug Discovery And Development, Clinical Trials, Manufacturing
4) By End-User: Pharmaceutical Companies, Biotechnology Companies, Contract Research Organizations (CROs) And Contract Manufacturing Organizations (CMOs)
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Regional Insights –
North America was the largest region in the pharma 4.0 market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the pharma 4.0 market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the pharma 4.0 market are Alphabet Inc., Microsoft Corporation, Pfizer Inc., Johnson & Johnson, Amazon Web Services Inc. , Roche Holding AG, International Business Machines Corporation, Merck & Co. Inc., Cisco Systems Inc., Bristol Myers Squibb Company, Oracle Corporation, AstraZeneca PLC, Novartis International AG, GlaxoSmithKline plc, Honeywell International Inc., Fujitsu Limited, ABB Ltd., Siemens Healthineers, GE Healthcare, Lotte Corporation, SAS Institute Inc., Optum Inc., POLARISqb, Syntekabio, Optibrium
Table of Contents
1. Executive Summary
2. Pharma 4.0 Market Characteristics
3. Pharma 4.0 Market Trends And Strategies
4. Pharma 4.0 Market – Macro Economic Scenario
5. Global Pharma 4.0 Market Size and Growth
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32. Global Pharma 4.0 Market Competitive Benchmarking
33. Global Pharma 4.0 Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Pharma 4.0 Market
35. Pharma 4.0 Market Future Outlook and Potential Analysis
36. Appendix
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