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The global pharmaceutical equipment market size is estimated to grow by USD 5.48 billion at a CAGR of 6.38% between 2023 and 2028. There is a rising demand for generic drugs across the pharmaceutical sector. Generic drugs can be referred to as low-cost drugs which have therapeutic safety and effectiveness characteristics that are similar to branded versions. The main reason for the growing expansion of therapeutic drugs is the rising demand to minimize healthcare costs. Hence, several governments across the world are encouraging the use of generic drugs. Additionally, the patent expiration of branded drugs is also positively impacting the market. For instance, in South Korea, around 51 patents, which cover more than 150 pharmaceutical products, are scheduled to expire in 2023. Hence, such factors are expected to positively impact the market growth during the forecast period.
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The solid segment is estimated to witness significant growth during the forecast period. The solid segment mainly comprises the manufacturing of OSD forms of drugs. OSD can be defined as pharmaceutical products that are administered orally in different forms such as tablets, capsules, or powders. There is increasing adoption of OSD in the pharmaceutical sector due to its several benefits such as convenience, stability, accurate dosing, and controlled release capabilities.
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The solid segment was the largest segment and was valued at USD 7.15 billion in 2018. Additionally, OSD forms of solid segments are very easy to handle and need minimal preparation time when compared to other dosage forms, such as injections or liquids. Hence, OSD is ideal for self-administration, enabling patients to take their medication at home without requiring external assistance. Furthermore, other benefits of OSD include better stability and longer shelf life. OSD is less susceptible to degradation and can have a high tolerance to different environmental conditions, such as temperature and humidity changes as they are in solid form. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
Packaging equipment is an essential part of the global pharmaceutical equipment market. It mainly comprises machines and systems utilized for the packaging and labeling of pharmaceutical products in order to ensure their safety, integrity, and compliance with regulatory requirements. There are several stringent regulatory rules and guidelines enforced by the government on these pharmaceutical companies that facilitate secure and compliant packaging to ensure the safety of pharmaceutical products. For example, pharmaceutical packaging must comply with pharmacopeia requirements. Factors such as the increase in demand for innovative drug delivery forms and personalized medicine is fuelling the growth of this segment, which in turn will drive the market growth during the forecast period.
Granulating equipment is mainly utilized in the pharmaceutical industry for the process of granulation, which includes transforming fine powders into larger, more uniform particles known as granules. The main advantage of this process is that it enhances the flowability, compressibility, and stability of the pharmaceutical formulations. Additionally, this process helps in achieving uniformity in particle size and distribution, resulting in consistent drug dosage and efficacy. Factors such as the increasing development of new drug formulations and the requirement for quality and efficiency are fuelling the growth of this segment which in turn will drive the global pharmaceutical equipment market growth during the forecast period.
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Asia is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. Another region offering significant growth opportunities to companies is North America. One of the main countries which is significantly contributing to the growth of the global pharmaceutical equipment market in North America is the US. The presence of several prominent biotechnology companies in the region is significantly fuelling market growth. For example, Pfizer Inc., which is one of the world's largest pharmaceutical companies, is headquartered in the US, and the company is known to provide R and D solutions to different pharmaceutical companies across the globe.
Additionally, there is wide adoption of diverse pharmaceutical equipment across this company for new drug production processes. Furthermore, there is an increase in the number of biopharmaceutical and biosimilar product approvals in North America over the last few years. Also, in the US there are high investments in R&D of gene- and other nucleic acid-based products such as antisense oligonucleotides (ASOs). Moreover, one of the prominent leaders in the global generic drugs market is North America. Several prominent market players, such as Elli Lilly, Merck, Pfizer, and Amgen, are based in the US. Hence, such factors are expected to drive the global pharmaceutical equipment market growth in the region during the forecast period.
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Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is witnessing significant growth due to the increasing prevalence of chronic health conditions and chronic diseases such as cancer, diabetes, and cardiovascular disease in the aging population. The market is driven by the demand for advanced equipment that can produce high-quality pharmaceuticals, including roll forming machines, uncoilers, coil cars, flatteners, roll form dies, roll formers, presses, and material handling equipment. Automation, robotics, artificial intelligence, and machine learning are increasingly being adopted in pharmaceutical manufacturing to improve efficiency, reduce errors, and enhance production capacity. Regulations and compliance requirements are key considerations for pharmaceutical equipment manufacturers, as they must ensure their products meet stringent industry standards. Key players in the market include Samco Machinery, Bob Repovs Equipment, and various others. Customer service and inventory management are critical aspects of the pharmaceutical equipment supply chain, with production schedules and efficient material handling essential for maintaining smooth operations. Overall, the market is expected to continue its growth trajectory due to the increasing demand for personalized medicine and the use of genetic information in drug development.
One of the key factors driving the global market growth is the rising prevalence of diseases and increasing demand for pharmaceuticals. There is an increasing prevalence of chronic diseases due to several risk factors including diabetes, hypertension, the consumption of tobacco, and obesity. Hence, there is an increase in the use of OSD drugs among patients as they seek out effective and convenient treatment options for their chronic conditions.
For example, there is wide adoption of aspirin for preventing heart attacks, strokes, and other cardiovascular conditions in patients with a history of heart disease or who are at high risk of developing it. Furthermore, ibuprofen and acetaminophen are significantly used to reduce pain and inflammation associated with conditions such as arthritis, chronic back pain, and headaches. Hence, this rise in chronic conditions is fuelling the demand for OSD drugs which is expected to drive the global pharmaceutical equipment market growth during the forecast period.
A key factor shaping the global market growth is the technological advances in pharmaceutical equipment. One of the main factors which is significantly contributing to the growth of the global pharmaceutical equipment market is the advancement in technologies, such as the introduction of innovative solutions, enhancing efficiency, improving safety, and enabling new capabilities. Additionally, the emergence of automation and robotics has changed the landscape of pharmaceutical production.
Moreover, the main advantage of this advancement in technology is that it has enhanced efficiency and precision while minimizing manual errors and labor costs. Integration of data analytics and artificial intelligence (AI) in pharmaceutical equipment is another major technological advancement in pharmaceutical production. The main advantage of the implementation of AI is that it can analyze AI algorithms can analyze large volumes of data to identify patterns, predict outcomes, and optimize processes. Hence, such technological advancements are expected to drive market growth during the forecast period.
The high cost of pharmaceutical equipment is one of the key challenges hindering market growth. One of the prime examples of the high costs associated with pharmaceutical equipment is large-scale production machinery. Several manufacturing facilities need equipment such as tablet presses, capsule filling machines, and blister packaging machines for the efficient production of pharmaceutical products
In addition, the price range of this machinery varies from USD 50,000 to USD 80,000, depending on several factors such as capacity, features, and specifications. analytical instruments required for quality control and testing is another expensive machinery segment that contributes to higher costs. Some of the main machinery in pharmaceutical manufacturing include high-performance liquid chromatography (HPLC) systems, mass spectrometers, and particle size analyzers to ensure product quality and compliance. Thus, such expensive equipment can negatively impact the market, which in turn will hinder the global pharmaceutical equipment market growth during the forecast period.
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The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Pharmaceutical Equipment Market Customer Landscape
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
The market is witnessing significant growth due to the increasing prevalence of chronic health conditions and chronic diseases such as cancer, diabetes, and cardiovascular disease in the aging population. This market caters to the development, production, and handling of various pharmaceutical products, including generic drugs, through the use of advanced equipment. Key trends in this market include automation, robotics, and artificial intelligence in manufacturing processes, ensuring safe, reliable packaging, and compliance with stringent regulations. Personalized medicine and the use of genetic information are also driving the market, requiring specialized machinery for fabrication and roll forming.
Moreover, the major players in the market include Samco Machinery, Bob Repovs Machines, and various other manufacturers of roll forming machines, uncoilers, coil cars, flatteners, roll form dies, roll formers, presses, and material handling equipment. These companies prioritize customer service and sales, ensuring the efficient handling of pharmaceutical equipment and maintaining production schedules. The Philippines is an emerging market for pharmaceutical equipment, with a growing demand for super generics and the need for compliant and efficient manufacturing processes. The market's growth is influenced by factors such as the increasing focus on inventory management and supply chain optimization. Roll forming and fabrication remain essential processes in the pharmaceutical industry, driving the demand for advanced machinery and technology.
Market Scope |
|
Report Coverage |
Details |
Page number |
177 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.38% |
Market growth 2024-2028 |
USD 5.48 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.89 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
Asia at 38% |
Key countries |
US, China, India, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ACG, ACIC Pharmaceuticals Inc., Alfa Laval AB, Antares Vision S.p.A, Astro Machine Works Inc., Bausch plus Strobel Maschinenfabrik Ilshofen GmbH plus Co. KG SE, Coesia SpA, Freund Corp., GEA Group AG, Hillenbrand Inc., IDEX Corp., IMA Industria Macchine Automatiche Spa, Koerber AG, Maquinaria Industrial Dara SL, Marchesini Group Spa, Merck KGaA, Romaco Holding GmbH, Silverson Machines Inc., Syntegon Technology GmbH, and Thermo Fisher Scientific Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for market forecast period |
Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product Type
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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