Pharma Update: U.S. remains largest pharmaceuticals & medical device market

Dec. 12, 2016

While the U.S. maintains its market lead, overall increase in the pharmaceuticals and medical devices usage should spur development in emerging markets.

U.S. remains largest pharmaceuticals & medical device market

The U.S. continues to be the largest market for pharmaceuticals and medical devices, according to PACK EXPO owner and producer PMMI, The Association for Packaging and Processing Technologies. As the global demand for medicines and devices rise, processors are concerned with issues such as changing consumer demographics, regulatory issues, the need for cost containment, advances in 3D printing and updating legacy lines.

Looking globally, branded and specialty drugs and innovative medical devices will likely drive spending growth in the developed markets, while an overall increase in the use of pharmaceuticals and medical devices are projected to spur development in emerging markets, according to PMMI’s report, Pharmaceutical and Medical Devices: Trends and Opportunities in Packaging Operations. Contract manufacturing and packaging for pharmaceutical products in developed markets are forecast to grow at six percent CAGR through 2018. Mergers and acquisitions will also remain a major component of strategic growth, with mergers up 66 percent from 2014 to 2015 and predictions of strong continued activity. Emerging markets, particularly India and China, are seeing rapid growth in pharmaceuticals and medical devices.

To download PMMI’s full 2016 Pharmaceutical and Medical Devices report, visit

Artificial intelligence program designs structures for future drugs

A team of MIT researchers led by Alán Aspuru-Guzik developed an artificial intelligence (AI) program that could change the way pharmaceutical research is conducted by going through a generative model that takes in a ton of data and uses it to create plausible new data.

"Continuous representations allow us to automatically generate novel chemical structures by performing simple operations in the latent space, such as decoding random vectors, perturbing known chemical structures, or interpolating between molecules," according to the study. Researchers say the AI could play a role in finding or optimizing lead drug candidates, or other areas like solar cells or catalysts.

Global bioinformatics market to reach $16.18B by 2021

The global bioinformatics market is projected to reach $16.18 billion by 2021 from $6.21 billion in 2016, growing at a CAGR of 21.1 percent during the forecast period, according to "Bioinformatics Market by Sector (Molecular Medicine, Agriculture, Forensic, Animal, Research & Gene Therapy), Product (Sequencing Platforms, Knowledge Management & Data Analysis) & Application (Genomics, Proteomics & Metabolomics) – Global Forecast to 2020."

In this report, the bioinformatics market is broadly segmented on the basis of sector, products and services, application, and region. Factors such as the growing demand for nucleic acid and protein sequencing, increasing initiatives from government and private organizations, growing application of bioinformatics, and improved collaborative ties between companies and research institutes are driving the growth of the bioinformatics market.

Global life sciences BPO market to see substantial growth by 2024

The life sciences BPO market is expected to reach $420 billion by 2024, according to a new report by Grand View Research Inc. The lucrative growth is attributed to the growing demand for contract manufacturing of raw materials, Finished Dosage Forms (FDFs), medical devices, drug discovery services, regulatory services, pre-clinical and clinical trial services, and pharmacovigilance services.

pH meters market size to grow at 5 percent through 2023

pH meters market size was estimated at over $1.3 billion in 2015 and is expected to grow at around 5 percent CAGR from 2016 to 2023, according to a report by Global Market Insights. High demand for these devices in agriculture, food and beverages, water treatment plants, fertilizers, pharmaceuticals, oil and gas sector, power industries and mining sector is among the leading factors expected to drive growth. Rising health concern and growing water purity awareness levels among people are also major demand drivers.

Contract research organization market to reach $59.42B globally in 2020

Zion Research has published a new report titled, "Contract Research Organization (CRO) Industry for Early-Stage Development Services and Last-Stage Development Services: Global Market Perspective, Comprehensive Analysis and Forecast, 2014 – 2020." According to the report, global contract research organization (CRO) market was valued at $34.00 billion in 2014 and is expected to reach $59.42 billion in 2020, growing at a CAGR of 9.80 percent between 2015 and 2020.

Lab automation market to grow at a 6.4 percent through 2020

The global laboratory automation market was valued at $3,456 million in 2014 and poised to grow at a CAGR of 6.4 percent to reach $5,052 million by 2020, according to Wise Guy Reports. The research report highlights market research and industry analysis driven by in-depth business relevant news. For more information, access the report at

Sponsored Recommendations

2024 Manufacturing Trends — Unpacking AI, Workforce, and Cybersecurity

The world of manufacturing is changing, and Generative AI is one of the many change agents. The 2024 State of Smart Manufacturing Report takes a deep dive into how Generative ...

State of Smart Manufacturing Report Series

The world of manufacturing is changing, and Generative AI is one of the many change agents. The 2024 State of Smart Manufacturing Report takes a deep dive into how Generative ...

Trying to Keep Pace with Supply Chain Disruption?

CPG manufacturers are struggling to keep up with supply chain disruptions. Learn how to build more resilient operations –and reduce demand shock.

Mitigating Cybersecurity Threats – Step-by-Step

Distributor Wesco adds services focused on identifying and solving OT network and security vulnerabilities in critical manufacturing.