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Pharmaceutical Fluid Handling Market 2024-2033: Production Analysis, Segmentation, Key Drivers And Top Players
Pharmaceutical Fluid Handling Market
Pharmaceutical Fluid Handling Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $14.44 billion In 2028 At A CAGR Of 5.2%.
The pharmaceutical fluid handling market size has grown steadily in recent years. It will grow from $11.24 billion in 2023 to $11.78 billion in 2024 at a compound annual growth rate (CAGR) of 4.8%. The growth in the historic period can be attributed to regulatory standards and compliance, technology integration, quality control emphasis, innovation in drug delivery, laboratory automation.
The pharmaceutical fluid handling market size is expected to see strong growth in the next few years. It will grow to $14.44 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to precision medicine and personalized therapies, rise in biologics manufacturing, increased outsourcing in pharma, emerging markets growth, flexible manufacturing platforms. Major trends in the forecast period include focus on training and skill development, development of closed systems, decentralized manufacturing models, increased use of nanotechnology, smart sensors and iot devices.
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Pharmaceutical Fluid Handling Market Major Segments
The pharmaceutical fluid handling market covered in this report is segmented -
1) By Offering: Equipment And Solutions, Services
2) By Tubing: Thermoplastic Elastomers, Polyvinyl Chloride, Silicone
3) By Usage: Cough Syrup, Intravenous Product, Complex Active Pharmaceutical Ingredients, Other Usage
4) By Application: Fluid Handling And Management, Fluid Preparation, Integration And Automation, Buffer Management, Other Applications
5) By End User: Biotechnology Companies, Pharmaceutical And Medical Companies, Other End Users
Key Driver - Pharmaceutical Fluid Handling Market Driven By Increased Drug Production
The increase in pharmaceutical drug production is expected to propel the growth of the pharmaceutical fluid handling market going forward. Drug production refers to the process of manufacturing pharmaceutical substances, medications, or drugs. Pharmaceutical fluid handling helps in drug production by ensuring accurate and efficient handling, transfer, and containment of liquids and fluids throughout the manufacturing process. For instance, in June 2022, according to the European Federation of Pharmaceutical Industries and Associations (EFPIA), a European trade association representing the pharmaceutical industry, the total pharmaceutical production in Europe accounted for $351 billion (€300,000 million) in 2021, with an increase of approximately 5% from $335.2 billion (€286,697 million) in 2020. Therefore, the growing demand for pharmaceutical drugs is driving the growth of the pharmaceutical fluid handling market.
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Prominent Trend - Automated Fluid Handling Systems Gain Traction In Pharmaceutical Industry
The introduction of automated fluid handling systems is a key trend gaining popularity in the pharmaceutical fluid handling market. Companies operating in the pharmaceutical fluid handling market are introducing automated fluid handling systems integrated with fluidic application programming interface (API) to sustain their position in the market. For instance, in February 2022, Festo, a Germany-based automation company launched a modular gantry robot platform for automated liquid handling in laboratories. This platform is useful for a broad range of media, calibrations, and targeted operations in laboratories. The modular gantries have a fluidic application programming interface (API) with Python, Java, and .NET/C# drivers that allows integrators to easily develop and optimize the strategies for the machine and support end users' fluid handling process and eliminates the need for OEMs to purchase generic machines and smoothens the new technology adoption.
Pharmaceutical Fluid Handling Market Players
Major companies operating in the pharmaceutical fluid handling market report are Pfizer Inc., Johnson & Johnson Pvt. Ltd, F. Hoffmann-La Roche AG, Merck & Co. Inc., AbbVie Inc., Thermo Fisher Scientific Inc., GlaxoSmithKline plc, Danaher Corporation, Gilead Sciences Inc., Amgen Inc., Parker Hannifin Corporation, Corning Incorporated, Agilent Technologies Inc., Alfa Laval AB, PerkinElmer Inc., Spirax Sarco Engineering plc, Eppendorf AG, Tecan Trading AG, CIRCOR International Inc., Raumedic AG, Borosil Glass Works Ltd., BioTek Instruments Inc., Labcyte Inc., Gilson Company Inc., Aurora Biomed Inc., Tef Cap Industries Inc., Labnet International Inc., Australian Fluid Handling Pty Ltd., Fraser Ross Ltd.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the pharmaceutical fluid handling market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pharmaceutical fluid handling market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Pharmaceutical Fluid Handling Market Report Structure
3. Pharmaceutical Fluid Handling Market Trends And Strategies
4. Pharmaceutical Fluid Handling Market - Macro Economic Scenario
5. Pharmaceutical Fluid Handling Market Size And Growth
…..
27. Pharmaceutical Fluid Handling Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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