Released April 08, 2021 | SUGAR LAND
en
Researched by Industrial Info Resources (Sugar Land, Texas)--If you missed Industrial Info's latest webinar about the Pharmaceutical-Biotech Industry - COVID-19 & Beyond, there's still a chance to catch an on-demand version. In the webinar, Annette Kreuger, Industrial Info's vice president of research for the Pharmaceutical-Biotech Industry, and Shaheen Chohan, vice president of Global Analytics, discussed the trends driving the industry in both North America and the rest of the world.
Before COVID-19 hit the world in early 2020, the Pharma-Biotech Industry was in an expansion mode. The pandemic only accelerated this. But will it last? Kreuger points out that by the fourth quarter of this year, the hope is to have 5 billion people vaccinated against the disease and that capacity for vaccines is rolling out. "Where they don't have the capacity, they're getting the capacity," she said. Kreuger says that, based on current medical belief, COVID-19 is here to stay, probably requiring an annual booster shot against it and ensuring that the vaccines and biologicals segment, already the biggest segment of the Pharma-Biotech Industry, continues to expand. Industrial Info is tracking more than $22 billion in active projects for vaccines, cellular and genetic therapies, etc. in North America, making it the biggest growth market.
On top of this, traditional pharmaceuticals, such as pills and tablets, remains necessarily strong, representing $6.9 billion in active projects in North America. A recent poll showed that $1.4 trillion would be spent throughout the world for medications by the end of this year.
Kreuger also discusses how COVID-19 has changed things as an increasing number of companies are collaborating to manufacture drugs. Also part of this trend are the contract development and manufacturing organizations (CDMOs) and contract manufacturing organizations (CMOs). The CMO market is expected to grow to $12.7 billion by the end of 2030.
Another exciting aspect discussed by Kreuger and Chohan is the reshoring of manufacturing in North America as companies seek to have more control and less interference with their supply chains. Kreuger says U.S. hotspots for reshoring would be the Great Lakes, Midwest, and the traditional areas of New York and New Jersey. Puerto Rico also could draw new investments if tax breaks are reinstated.
Plant expansions and additions remain the largest single type of project in North America, in large part because of a number of brownfield sites that are being repurposed. This category represents about $50.4 billion in active projects in North America, compared with $36.1 billion for new plant construction.
Other exciting markets to watch include the cannabis sector, which is eagerly awaiting any changes brought by the Biden Administration.
While the webinar focused on North America, Kreuger pointed out that many of the trends seen here are similar to what is occurring abroad. While the pharma growth rate in the U.S. is usually in the single digits, areas of the world that don't have existing pharma infrastructure in place are seeing much higher growth rates. Throughout the world, Industrial Info is tracking more than 7,500 pharma-biotech projects, valued at approximately $200 billion.
Gain a better understanding of these trends and listen to an in-depth discussion of this industry by listening from our webinar library. Click here to listen.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
Before COVID-19 hit the world in early 2020, the Pharma-Biotech Industry was in an expansion mode. The pandemic only accelerated this. But will it last? Kreuger points out that by the fourth quarter of this year, the hope is to have 5 billion people vaccinated against the disease and that capacity for vaccines is rolling out. "Where they don't have the capacity, they're getting the capacity," she said. Kreuger says that, based on current medical belief, COVID-19 is here to stay, probably requiring an annual booster shot against it and ensuring that the vaccines and biologicals segment, already the biggest segment of the Pharma-Biotech Industry, continues to expand. Industrial Info is tracking more than $22 billion in active projects for vaccines, cellular and genetic therapies, etc. in North America, making it the biggest growth market.
On top of this, traditional pharmaceuticals, such as pills and tablets, remains necessarily strong, representing $6.9 billion in active projects in North America. A recent poll showed that $1.4 trillion would be spent throughout the world for medications by the end of this year.
Kreuger also discusses how COVID-19 has changed things as an increasing number of companies are collaborating to manufacture drugs. Also part of this trend are the contract development and manufacturing organizations (CDMOs) and contract manufacturing organizations (CMOs). The CMO market is expected to grow to $12.7 billion by the end of 2030.
Another exciting aspect discussed by Kreuger and Chohan is the reshoring of manufacturing in North America as companies seek to have more control and less interference with their supply chains. Kreuger says U.S. hotspots for reshoring would be the Great Lakes, Midwest, and the traditional areas of New York and New Jersey. Puerto Rico also could draw new investments if tax breaks are reinstated.
Plant expansions and additions remain the largest single type of project in North America, in large part because of a number of brownfield sites that are being repurposed. This category represents about $50.4 billion in active projects in North America, compared with $36.1 billion for new plant construction.
Other exciting markets to watch include the cannabis sector, which is eagerly awaiting any changes brought by the Biden Administration.
While the webinar focused on North America, Kreuger pointed out that many of the trends seen here are similar to what is occurring abroad. While the pharma growth rate in the U.S. is usually in the single digits, areas of the world that don't have existing pharma infrastructure in place are seeing much higher growth rates. Throughout the world, Industrial Info is tracking more than 7,500 pharma-biotech projects, valued at approximately $200 billion.
Gain a better understanding of these trends and listen to an in-depth discussion of this industry by listening from our webinar library. Click here to listen.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
