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Paula Feldman: Good afternoon, everyone. I'm Paula Feldman, Senior Director of Business Intelligence. It's my pleasure to introduce Donna Ritson, president of DDR communications.
Donna Ritson: So if we look at what are the trends now shaping in terms of production, excuse me growth in injectables, and customized medicine is certainly reshaping production. We're hearing from the large brand manufacturer that their focus is on injectables. It's a very strong business for them.
They're experiencing increased batch runs and longer runs, which is interesting when we hear in times of shorter runs across many different industries. If we look at injectables, the segment globally in the pharmaceutical market is predicted to grow to 625 billion which which is a substantial industry.And if the predictions hold true till the end of the year, that will be 100% increase since 2016.
So you can see at the pace that this injectables and customized packaging is growing at and we took a look to further substantiate this at the list of FDA approved drugs. And in recent years 40% have of new drugs that have been approved, have been in injectables. And a couple good quotes here that we heard from the voice of the industry, um, a small medium enterprise and both solid and liquid products said that their liquid dose formulations continued to move towards a more prefilled syringe, which is a combo of both medicine and device. And we are hearing from a large generic manufacturer, that they've actually moved away from amples and vials to more prefilled syringes.
So we've gotten good, you know, good background and substantiation as to how this is moving forward. And we look at customized and personalized medicines. Again, looking at the FDA list of medicines that they approved, nearly two out of five of all new drugs approved just in 2020. We're in personalized medications. So it's an area that is changing the landscape in the pharmaceutical industry. And certainly a large brand and generic manufacturer here talks about they're actually building a full line dedicated to personalized medications. So that's certainly a strong indication.
They're seeing this growing in the industry. And a large contract manufacturer talked about specialty drugs are significantly impacting their business, especially when they have to put this through the cold chain. So that would also be in a lot of instances, injectables.