Press release
Pharmaceutical Processing Seals Market Size, Forecasts Analysis, Industry Growth, Company Profiles, Global 2021 Industry Share and Key Regions 2027 - Trelleborg AB, Freudenberg Group, Flowserve Corporation, James Walker, Parker Hannifin Corporation
The Pharmaceutical Processing Seals Market report is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.The Global Pharmaceutical Processing Seals Market Size is Projected to Reach at a CAGR of 10% during 2021-2027.
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Market Overview:
Refurbished equipment is a viable alternative compared to new instruments for pharmaceutical manufacturers in cases where time (taken to deliver and set up new machinery) and cost (new instruments being comparatively high-priced) are the concerns. Many Asian and European companies are moving toward the refurbishment of machinery to save costs and to comply with the requirement of GMP (Good Manufacturing Process). The adoption of this new trend by pharmaceutical manufacturers is negatively affecting the business of pharmaceutical equipment OEMs and pharmaceutical processing seals manufacturers. The prime reason for the increasing preference for refurbished equipment is that it can save approximately 40–45% of the costs incurred on new machinery, thereby lowering the capital expenditure. All these factors prove to be a restraint for the pharmaceutical processing seals' growth.
Top Leading Companies:
Trelleborg AB, Freudenberg Group, Flowserve Corporation, James Walker, Parker Hannifin Corporation, Saint-Gobain S.A., Garlock, John Crane, IDEX Corporation, Morgan Advanced Materials PLC
Recent Developments
In 2021, Parker Hannifin Corporation reported that it had reached an agreement on the terms of a recommended cash acquisition of all of Meggitt Plc's issued and future ordinary share capital (Meggitt).
In 2019, Trelleborg AB acquired Sil-Pro, LLC, a privately-held contract manufacturer in the US that specializes in high-tolerance silicone and thermoplastic components and medical device assembly.
In 2020, Freudenberg Klüber Lubrication München SE and Co. KG, Munich, Germany (part of the Freudenberg Chemical Specialities Business Group), purchased all of the shares of Traxit International GmbH, Schwelm, Germany. As part of the Freudenberg Group, the company is fully consolidated. A total of USD 55.5 million in assets was purchased.
Pharmaceutical Processing Seals Market Segmentation by Type:
O-Ring Seals
Gaskets
Lip Seals
D Seals
Others
Pharmaceutical Processing Seals Market Segmentation by Application:
Manufacturing Equipment
Agitators
Mixers
Reactors
Gear Boxes
Others
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North America is projected to be the largest market for pharmaceutical processing seals.
North America (comprising the US, Canada, and Mexico) accounted for the largest share of the global pharmaceutical processing seals market. Huge consumption and demand for new and innovative pharmaceutical products owing to the presence of a strong healthcare sector have boosted the pharmaceutical manufacturing in the region leading to the development of the pharmaceutical manufacturing equipment market. The huge consumption of pharmaceutical manufacturing equipment is expected to drive the pharmaceutical processing seals market in the region.
Regional Pharmaceutical Processing Seals Market (Regional Output, Demand & Forecast by Countries)
North America (United States, Canada, Mexico)
South America (Brazil, Argentina, Ecuador, Chile)
Asia Pacific (China, Japan, India, Korea)
Europe (Germany, UK, France, Italy)
Middle East Africa (Egypt, Turkey, Saudi Arabia, Iran) And additional.
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Highlights of the Pharmaceutical Processing Seals Market Report:
Detailed overview of Pharmaceutical Processing Seals Market
Changing the Pharmaceutical Processing Seals market dynamics of the industry
In-depth market segmentation by Type, Application, etc.
Historical, current and projected Pharmaceutical Processing Seals market size in terms of volume and value
Recent industry trends and developments
Competitive landscape of Pharmaceutical Processing Seals Market
Strategies of key players and product offerings
Potential and niche segments/regions exhibiting promising growth.
The research includes historic data from 2016 to 2021 and forecasts until 2027 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.
Finally, the Pharmaceutical Processing Seals Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request, and market development rate and figure, and so on. Pharmaceutical Processing Seals industry report additionally Presents a new task SWOT examination, speculation attainability investigation, and venture return investigation.
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– Free country Level analysis for any 5 countries of your choice.
– Free Competitive analysis of any 5 key market players.
– Free 40 analyst hours to cover any other data point.
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