Press release
Pharmaceutical Storage And Material Handling Equipment Market Worth 1,597.4 Million USD By 2023
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The global pharmaceutical storage and material handling equipment market study presents historical market data in terms of values (2016 and 2017), estimated current data (2018), and forecasts for 2023-by type (transport, storage, lifting equipment, stack systems), mode of operation (semi-automatic, automatic, manual), and product form (solid, liquid, semi solid). The study also evaluates industry competitors and analyzes the market at regional and country level.
On the basis of type, transport systems market commanded the largest share of the global pharmaceutical storage and material handling systems market in 2017 with the increasing use of automated and semi-automated transport systems to meet GMP standards, particularly in the developed economies. The use of transport systems for pharmaceutical material handling is further expected to increase significantly during the forecast period mainly due to customer’s demand for smaller lot sizes; shorter lead times; and higher quality products, especially in developing countries.
On the basis of product form, storage and material handling systems market for solid pharmaceutical products dominated the global market in 2017 as solid dosage manufacturing segment is the largest segment of pharmaceutical formulations among all types of pharmaceutical formulations. Moreover, this segment is also expected to witness a rapid growth during the forecast period.
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This research report analyzes major geographies and provides comprehensive analysis of North America (U.S. and Canada), Europe (Switzerland, Germany, Italy, U.K., France, Ireland, and RoE), Asia-Pacific (China, Japan, India, and RoAPAC), Latin America, and Middle East & Africa. North America commanded the largest share of the global pharmaceutical storage and material handling systems market in 2017, followed by Europe and Asia-Pacific. The large share of this region is mainly attributed to huge pharma manufacturing sector, high adoption rate of automation in pharmaceutical industry, innovations and advancements in bulk material handling products and technologies, and implementation of some expansions and acquisitions plans by the leading pharmaceutical storage and material handling systems manufacturers to increase their production capacity. However, owing to the global shift of manufacturing from North America & Europe to Asia-Pacific region and related rise in the use of storage and material handling systems in the pharmaceutical products manufacturing, rising industrialization, and growing government investments in the pharmaceutical manufacturing sector, Asia-Pacific region is expected to grow at the fastest CAGR during the forecast period.
The major players operating in the global pharmaceutical storage and material handling equipment market are SERVOLiFT GmbH, Mueller GmbH, Hanningfield Process Systems Ltd., GEA Group Aktiengesellschaft, AZO GmbH + Co. KG, David Round Company, Inc, FLEXICON Corporation, Spirotech-SRD Group Ltd., VAC-U-MAX, Dietrich Engineering Consultants S.A., Volkmann, Inc, Schenck Process Holding GmbH, Coperion Capital GmbH, Matcon Ltd., Gough Econ, Inc, Guttridge Limited, and Glatt GmbH among others.
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About Meticulous Research®
Meticulous Research® is founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
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Meticulous Research®
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