Global Pharmaceutical Manufacturing Equipment Market Analysis Report 2023-2028 - Rising Demand for Generics and Growing Necessity for Flexible Pharmaceutical Manufacturing to Provide Opportunities
DUBLIN, June 6, 2023
DUBLIN, June 6, 2023 /PRNewswire/ -- The "Global Pharmaceutical Manufacturing Equipment Market by Equipment Type (Packaging, Mixing & Blending, Filling, Milling, Spray Drying, Inspection, Extrusion, Tablet Compression Presses), End-Product Type (Solid, Liquid) and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The pharmaceutical manufacturing equipment market is projected to reach USD 19.7 billion by 2028 from USD 14.5 billion in 2023, at a CAGR of 6.3% from 2023 to 2028
The major factors driving the market growth of the pharmaceutical manufacturing equipment market include the increasing number of regulatory frameworks established worldwide to support innovation and safety in drugs, growing demand for generics globally, rising healthcare investment, and growing requirement for flexibility in pharmaceutical manufacturing.
Emerging markets for pharmaceutical manufacturing, especially in the Middle East and Africa, is also a key factor driving the demand for technologically advanced pharmaceutical manufacturing equipment.
Packaging machines are expected to register the highest CAGR during the forecast period followed by spray drying equipment
Pharmaceutical packaging machines are critical in the drug manufacturing process as they ensure the quality and safety of medications while meeting regulatory requirements. Packaging machines equipped with serialization capabilities enable unique identification and tracking of individual pharmaceutical products, facilitating supply chain transparency and product authentication, thereby driving their demand.
There is a growing emphasis on sustainable packaging practices in the pharmaceutical industry. Packaging machines that support eco-friendly packaging materials, such as recyclable or biodegradable materials, are in demand. Using pharmaceutical spray drying equipment helps ensure that the active pharmaceutical ingredient (API) is evenly distributed throughout the drug formulation and that the final product meets the required specifications for quality, purity, and potency.
The efficient and precise spray drying of drug formulations is essential to produce high-quality drug products that are safe and effective for patient use, thereby driving their demand.
Liquid end-product type is expected to register the highest CAGR during the forecast period followed by solid end-product type
Liquid end-product type covers different types of liquid dosage forms including solutions, syrups, suspensions, and emulsions, among others. There is a growing demand for syrups.
They offer accurate dosages of drug in a concentrated sugar solution, thus masking the unpleasant taste and therefore being preferred, especially by the geriatric population and children. Technological advancements, extensive research and development activities, and innovation in clinical trials have allowed manufacturers to substantially enhance shelf-life of liquid dosage forms, thereby making them a feasible alternative to many solid dosage forms which have less solubility.
Liquid medications have higher bioavailability compared to solid dosage forms, meaning that more of the active ingredient is absorbed into the bloodstream. This can lead to more effective treatment and a reduced risk of side effects, which is another factor driving their demand.
Asia Pacific is expected to register the highest CAGR during forecast period followed by Europe
Industry players in Asia Pacific are working collaboratively with the government to tackle the shortages of drugs. In addition, high-rate of branded drugs and the expiry of key drug patents are also driving the demand for the adoption of generics.
The governments and industry players across the region aim to improve pharmaceutical manufacturing facilities by adopting the latest pharmaceutical manufacturing equipment to serve the growing demand for drugs, eliminate drug shortages, and expand production capacities. India has the highest number of US-FDA-compliant pharma plants outside the US.
It is home to over 3,000 pharma companies with a strong network of over 10,500 manufacturing facilities and a highly skilled resource pool. Furthermore, the government of India has implemented schemes, including the Production Linked Incentive (PLI) scheme to boost domestic manufacturing capacity, including high-value products across the global supply chain.
Germany was one of the top importers and exporters of pharmaceutical products in FY 2021. The presence of a favourable policy framework, a well-established healthcare system, increasing pharmaceutical R&D expenditure, and rising demand for branded and generic drugs are the major factors driving the potential of the pharmaceutical market in the country.
Germany is home to several major pharmaceutical companies, including Bayer, Merck KGaA, Boehringer Ingelheim, etc. Several pharmaceutical companies indicate the presence of several major pharmaceutical manufacturing facilities in the country, boosting the adoption of pharmaceutical manufacturing equipment across the country.
The French government implemented several measures to streamline the regulatory process and promote research and development. For instance, in 2023, the government will form a new dedicated committee, which will include representatives of the French pharma industry, health professionals, and patients to lay the foundations for a longer-term approach to preventing and managing supply chain issues.
The major players in the pharmaceutical manufacturing equipment market are GEA Group Aktiengesellschaft (Germany), I.M.A. INDUSTRIA MACCHINE AUTOMATICHE S.P. A (Italy), Syntegon Technology GmbH (Germany), ACG (India), and Thermo Fisher Scientific Inc.(US) among others.
- Rising Demand for Generics and Growing Necessity for Flexible Pharmaceutical Manufacturing to Provide Opportunities for Players in Market
- Packaging Machines to Register Highest CAGR During Forecast Period
- Liquid Segment to Exhibit Highest CAGR During Forecast Period
- US to Account for Largest Share During Forecast Period
- Rising Demand for Generics
- Need for Flexible Pharmaceutical Manufacturing
- Growing Implementation and Adoption of Regulatory Guidelines
- Demand for Refurbished Equipment
- Adoption of Pharmaceutical Manufacturing Equipment to Enable First-To-Market Advantages
- Integration of Artificial Intelligence with Inspection Equipment to Provide Better Quality Assurance
- Emerging Markets and Increased Focus on Sustainability
- Rising Costs and Expenditures Related to Usage of Pharmaceutical Manufacturing Equipment
- Industry 4.0
- Computer Vision
- Radio Frequency Identification
- Alcami Corporation Chooses Syntegon to Increase Its Vial Filling Flexibility
- Leading Manufacturer of Generic Drug Products in Russia Chooses Gea Group to Expand Their Reach and Integrate Advanced Manufacturing Equipment
- Cdm Lavoisier Adopts Syntegon Aim 3000 for Inspection of 30 Different Products on Four Packaging Formats
- Gea Group Aktiengesellschaft
- I.M.A Industria Macchine Automatiche S.P.A
- Syntegon Technology GmbH
- Thermo Fisher Scientific Inc.
- Romaco Group
- Korber Ag
- Marchesini Group
- Mg2 S.R.L
- Glatt GmbH
- Baker Perkins
- Elizabeth Companies
- Fette Compacting
- L.B. Bohle
- Lfa Machines
- Cvc Technologies, Inc.
- Ohara Technologies
- Prism Pharma Machinery
- Yenchen Machinery
For more information about this report visit https://www.researchandmarkets.com/r/b0ypxs
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