Global Pharma 4.0 Market Size and Trends
The global pharma 4.0 market size is expected to reach US$ 54.43 Bn by 2031 from US$ 16.75 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 18.3% during the forecast period.
- Integration of big data analytics: With the integration of big data analytics, pharmaceutical firms will be able to create manufacturing processes that are more reliable and flexible, with fewer interruptions and flaws and greater levels of quality monitoring. Big data analytics and effective cross-company communication can enhance process monitoring performance and discover and decrease material waste, overproduction, and energy use. As a result of the integration of big data analytics solutions, the pharmaceutical manufacturing facility is observed to be transformed into a reconfigurable industry with an advanced production line that can mass-customize individualized medications to meet various needs. Thus, the integration of big data analytics is remarked to create a set of opportunities for the market.
Global Pharma 4.0 Market- Trends
Global Pharma 4.0 Market - Recent Developments
Product Launch
- On October 23, 2023, Optibrium, a developer of software and AI solutions for drug discovery, announced that it had launched StarDrop, a drug discovery platform.
- On July 13, 2023, Angelini Pharma, a pharmaceutical company, announced the launch of an initiative designed “LIFE-GREENAPI,” manufactured to pharma production practices with low environmental impact.
- On July 10, 2023, Google Cloud, a software company, announced the launch of a suite of new AI tools for drug discovery and precision medicine at the Bio-IT World Conference & Expo in Boston, U.S.
- On May 31, 2023, POLARISqb, a global company accelerating drug discovery using quantum computing, announced the release of Quantum-Aided Drug Design (QuADD). QuADD is a subscription-based Software as a service (SaaS) platform that quickly identifies a library of top candidate molecules for drug targets.
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