Albany, NY -- (SBWIRE) -- 10/14/2020 -- Recent developments in the personalized pharmaceutical industry have led to the development of sophisticated medical solutions across the globe. The pharmaceutical industry has precise manufacturing guidelines and requirements in terms of quality, for which manufacturing equipment need to comply with good manufacturing practices (GMPs). In order to ensure efficient manufacturing and development of pharmaceutical formulations, key players in the market are focusing on making the process automated.
Improved R&D of new drug molecules and rapid developments in the global pharmaceutical industry are major factors estimated to propel the pharmaceutical manufacturing & processing equipment market. However, the time-consuming process of sterilization, cleaning, and validation of equipment and their parts, particularly during the changeovers, has been a hindrance in achieving the operational efficiency. This factor is expected to restrain the pharmaceutical manufacturing & processing equipment market during the forecast period.
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The global pharmaceutical manufacturing & processing equipment market has been segmented based on product, modality, and dosage form. In terms of product, the market has been classified into manufacturing equipment and processing equipment. The manufacturing equipment segment has been sub-divided into tablet-coating machines, milling equipment, tablet press machines, capsule-filling machines, allied machines, and others.
Various types of processing equipment are agitators, blowers, coaters, dryers, granulators, metal detectors, sifters, and others. The manufacturing equipment segment held the highest market share in terms of revenue in 2016, owing to their high cost and rising demand for them from developing countries. Based on dosage form, the pharmaceutical manufacturing & processing equipment market has been segmented into solid, semi-solid, and liquid. The solid dosage form segment generated the maximum revenue in 2016 and is expected to continue to remain dominant throughout the forecast period. Rising number of regional players in the pharmaceutical manufacturing industry is projected to propel liquid and semi-solid segments from 2017 to 2025. Based on modality, the pharmaceutical manufacturing & processing equipment market has been divided into automated equipment, semi-automated equipment, and manual equipment. The semi-automated equipment segment accounted for the maximum market share in 2016, which is attributable to high usage of semi-automated equipment for research activities and their application in customized, small batches. On the other hand, the automated equipment segment is expected to register the maximum CAGR during the forecast period, owing to the ability of automated equipment to detect fissures and leakage in containers, rise in the production of generics, and innovations in manufacturing processes.
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Geographically, the global pharmaceutical manufacturing & processing equipment market has been divided into five major regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for the maximum share in 2016 and the trend is expected to continue during the forecast period. The dominance of North America is attributable to the necessity to combat the incidence of pharmaceutical counterfeiting in the region and key players' focus on improving the operational efficiency and output. Europe was the second-largest market for pharmaceutical manufacturing & processing equipment in 2016, owing to the progress in drug research in countries of the region. However, increasing pricing pressure and rising local demand in countries of Asia are prompting key players to relocate their production units to emerging markets in Asia Pacific. This factor is expected to boost the market in Asia Pacific during the forecast period.
Prominent players operating in the global pharmaceutical manufacturing & processing equipment market are Cadmack Machinery Co. Pvt. Ltd., Tecnomaco Italia SRL, IDEX CORPORATION, Bausch + Ströbel, Jeckson Vision, Körber AG, Maquinaria Industrial Dara, SL, and Marchesini Group. Incorporating the tailor-made solutions and tools in pharmaceutical manufacturing and processing equipment to cater to customized requirements of manufacturers is a major strategy currently being adopted by key players operating in the market.
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