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Pharmaceutical Processing Equipment Market Worth $12.85 Billion by 2029
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Driving Factors and Market Trends
This forecasted growth is propelled by emerging technological trends in pharmaceutical manufacturing, the increasing approval rate of orphan drugs, and the widespread adoption of flexible technologies in the pharmaceutical manufacturing landscape. The expanding clinical pipeline for novel therapies and the emergence of pharmaceutical manufacturing hubs in developing nations present promising opportunities for the growth of the Pharmaceutical Processing Equipment Market.
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The global pharmaceutical processing equipment market is meticulously segmented by the mode of delivery, encompassing oral (oral solid dosages and oral liquid dosages), parenterals, topicals, and other formulations. Notably, the oral formulations segment, with its subcategories such as blending equipment, fluidized bed machine, milling equipment, and more, is projected to dominate the market in 2022.
Within the oral formulations segment, the oral solid dosages category is anticipated to exhibit the fastest growth during the forecast period. The persistent expansion of oral solid dosage forms, incorporating new formats and improved efficiency, coupled with the prevalence of oral dose pharmaceutical products, contributes to this segment's growth. Additionally, the majority of recently approved drugs by the U.S. FDA fall under the oral solid dosages segment, further propelling market expansion.
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Geographical Analysis and Market Dynamics
Geographically, the report offers a comprehensive analysis of major regions, including North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2022, North America is expected to command the largest market share, with the U.S. positioned as the leading market. Key factors attributing to this dominance include reshoring of pharmaceutical manufacturing, a multitude of regulatory approvals by the U.S. FDA, and substantial investments in Research and Development (R&D) by pharmaceutical companies. Notably, the Asia-Pacific region is projected to witness the fastest Compound Annual Growth Rate (CAGR) during the forecast period.
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Key Players in the Global Market
Major players shaping the global pharmaceutical processing equipment market include 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).
Mr. Khushal Bombe
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