Impact Studies
17 November 2024
Impact Study of AI, Digital, and Green Economy: Pharmaceutical Manufacturing Sector
Global market to hit USD863.6B by 2030. Malaysia contributed RM3.4B in 2022. 6 highly impacted roles, 4 emerging roles, and 9 essential skills identified by FSTC. Upskilling in AI/data analytics/IoT is key to enhance drug discovery and sustainable growth.
Authors:
Dr. Devaki Nagaya, Ramzi Bustami
MyMahir
Summary
The Pharmaceutical Manufacturing sector is experiencing steady growth both globally and in Malaysia. The global market is projected to increase from USD510.5 billion (RM2.23 trillion) in 2022 to USD863.6 billion (RM3.78 trillion) by 2030. In Malaysia, the sector contributed RM3.4 billion to GDP in 2022, reflecting a 15% annual growth from 2021. This expansion is driven by the rising demand for generic drugs, an ageing population, improved healthcare infrastructure, and increased government spending. Additionally, there is a growing emphasis on biologics, biosimilars, personalised medicine, innovative technologies, and sustainability. These advancements will necessitate significant changes in the workforce. Professionals skilled in AI technologies and data analytics will be essential for managing AI-driven systems across drug discovery, production, and quality control. The shift towards digitalisation requires expertise in IoT, blockchain, cybersecurity, and systems integration. Moreover, the transition to a Green Economy presents opportunities in environmental management and sustainable processes. The study identified six (6) job roles that will be highly impacted by these trends, along with four (4) emerging roles, and nine (9) in-demand skills essential for future advancements. A Pharmaceutical Manufacturing MyMAHIR Future Skills Talent Council (FSTC) has been set up to prepare for these changes. The council will regularly assess workforce needs, analyse talent demands, propose strategies, and update skills in response to technological and green advancements, such as coding, data analysis, cybersecurity, and AI. Additionally, the council will align the educational system with the sector’s needs while actively fostering collaboration among government, industry players, academia, and training providers to enhance Malaysia’s competitiveness and promote sustainable growth in the Pharmaceutical Manufacturing sector.
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