Pharmaceutical Processing Equipment Market Worth $12.85 Billion by 2029 - Exclusive Report by Meticulous Research® - EIN Presswire

2022-06-19 00:24:03 By : Ms. Anna Su

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/EIN News/ -- Redding, California, June 14, 2022 (GLOBE NEWSWIRE) -- According to a new market research report titled, ‘Pharmaceutical Processing Equipment Market by Mode of Delivery (Oral [OSDs {Coating, Milling}, Oral Liquid Dosages {Filtration Units}], Parenterals [SIP, CIP, Process Systems], Topicals [Agitators, Homogenizers, Colloid Mills]) - Global Forecasts to 2029’, published by Meticulous Research®, the pharmaceutical processing equipment market is projected to grow at a CAGR of 4.2% during the forecast period 2022–2029 to reach $12.85 Billion by 2029.

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The pharmaceutical industry includes a set of processes like manufacturing, extraction, processing, and packaging of drugs to treat or cure diseases. Pharmaceutical manufacturing comprises two processes, primary processing, which includes the production of active ingredients & drugs, and secondary processing, which includes the conversion of active products into suitable administration dosages. The processing equipment included in the scope is divided based on the mode of delivery.

The growth of the pharmaceutical processing market is attributed to the increasing regulatory approvals of pharmaceutical products, increasing production capacities, the emergence of flexible and continuous manufacturing, and rapid expansion of the pharmaceutical market. Increasing outsourcing of manufacturing capabilities also drives this market. Emerging pharmaceutical manufacturing hotspots in developing countries and a growing clinical pipeline offer opportunities for the growth of the pharmaceutical processing equipment market.

Impact of COVID-19 on the Pharmaceutical Processing Equipment Market

The COVID-19 pandemic has affected the healthcare industry globally. The pandemic has increased the demand for vaccines and therapies, due to which various pharmaceutical manufacturers have expanded their manufacturing facilities. The capacity expansion plans by the manufacturers are expected to improve the demand for pharmaceutical processing equipment. The pandemic led to a temporary disruption in the supply chain due to the nationwide lockdowns imposed in various countries. The lockdowns led to temporary shutdowns of local manufacturing plants, due to which the supply of APIs and finished dosages was largely affected.

Due to supply chain disruption, several countries decided to increase the domestic manufacturing of therapeutics to decrease the dependence on imports. Such initiatives by the governments in various countries are expected to positively impact the growth of the pharmaceutical processing equipment market.

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The global pharmaceutical processing equipment market is segmented by mode of delivery (oral [oral solid dosages {blending equipment, fluidized bed machine, milling equipment, compression/press equipment, capsule making equipment, capsule filling equipment, and other processing equipment}, oral liquid dosages {sugar charging/transfer systems, preparation vessels, melting vessels, and storage tanks, stirrers and homogenizers, filtration units, and other processing equipment}], parenteral [mixing equipment, preparation tank, and other containers, process systems (SVP, LVP), filtration units, sterilization tunnels, clean-in-place (CIP) and steam-in-place (SIP) system, aseptic inspection systems, and other processing equipment], topicals [planetary and homogenizer mixer, preparation vessels, reactors, and storage tanks, colloid mills, agitator–stirrer, and other processing equipment]), and geography.

Based on mode of drug delivery, in 2022, oral formulations segment is estimated to generate the largest proportion of revenue in the pharmaceutical processing equipment market. The large revenue share of this mode is mainly to its ease in consumption, convenience, safety, and cost-effectiveness. Furthermore, patients’ compliance is higher with this mode than with other delivery modes. The oral dosage forms also offer ease in large-scale manufacturing. Thus, based on these factors, the preference for oral formulations is likely to continue to increase during the forecast period.

However, the parenteral formulation segment is estimated to grow with the highest CAGR over the forecast period. Parenteral formulations are either administered as infusion or injection. Parenteral preparations include powders, gels, suspensions, and solutions. High preference for the parenteral formulation, in case of drugs that are poorly absorbed, ineffective, or inactive if given orally, and provision of immediate onset of action are the factors driving the growth of this market. Physicians prefer the parenteral route of administration for unconscious patients or patients with a non-functional gastrointestinal tract. Bypassing the gastrointestinal tract provides immediate physiologic response and complete systemic circulation. Thus, if oral administration is not possible, parenteral formulation drives the demand for processing equipment for parenteral formulations.

Based on geography, in 2022, North America is estimated to account for the largest share of the market. Reshoring of pharmaceutical manufacturing in the U.S., expansion of manufacturing facilities, and agreements between pharmaceutical companies and CMOs to increase the availability of pharmaceuticals are the key factors contributing to the largest share in North America. Additionally, an increase in the government funding to develop COVID-19-related-therapies is also driving the demand for innovative technologies in pharmaceutical processing.

Quick Buy – “Pharmaceutical Processing Equipment Market by Mode of Delivery (Oral [OSDs {Coating, Milling}, Oral Liquid Dosages {Filtration Units}], Parenterals [SIP, CIP, Process Systems], Topicals [Agitators, Homogenizers, Colloid Mills]) - Global Forecasts to 2029” Research Report:

However, the Asia-Pacific region is projected to grow lucratively over the forecast period. The key factors attributing to this are emerging pharmaceutical hotspots in this region and government initiatives to incentivize domestic production. Furthermore, the expansion of manufacturing facilities in pharmaceutical companies is also attributed to the market growth.

The report also includes an extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past three years (2019–2022). The global pharmaceutical processing equipment market has witnessed product launches, collaborations, partnerships, agreements, acquisitions, and expansions in the last couple of years.

Some of the key players operating in the global pharmaceutical processing equipment market are ACG (India), Cadmach Machinery Company Private Limited (India), GEA GROUP (Germany), Sainty Co. (China), Syntegon Technology GmbH (Germany), Freund Corporation (Japan), ACIC Pharmaceuticals Inc. (Canada), Bausch+Ströbel Maschinenfabrik Ilshofen GmbH + Co. KG (Germany), Fette Compacting GmbH (Germany), IDEX Corporation (U.S.), Kevin Process Technologies Private Limited (India), KIKUSUI SEISAKUSHO LTD. (Japan), KORSCH AG (Germany), MAQUINARIA INDUSTRIAL DARA, SL (Spain), and Marchesini Group S.p.A. (Italy).

To gain more insights into the market with a detailed table of content and figures, click here:

Pharmaceutical Processing Equipment Market, by Mode of Delivery

Pharmaceutical Processing Equipment Market, by Geography

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