The global pharmaceutical storage and material handling equipment market is on a rapid growth trajectory, projected to reach $5.83 billion by 2030, according to a recent publication by Meticulous Research®. This market is expected to expand at a compound annual growth rate (CAGR) of 9.8% from 2023 to 2030. Several key factors are fueling this growth, including the rapid expansion of the pharmaceutical market, a growing emphasis on automation within the industry, the drive to reduce production costs, and substantial government support to bolster the pharmaceutical sector.
However, the high costs associated with establishing efficient material handling systems in the pharmaceutical industry pose a potential challenge to this growth. Despite this, emerging trends, such as the increasing use of robotics, growth in emerging economies, and the rising adoption of generic drugs, present significant opportunities for market expansion.
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Regional Insights
Geographically, the market is analyzed across North America, Europe, Asia-Pacific, Latin America, and the Middle East Africa. In 2023, North America is expected to dominate the global market, followed by Europe and Asia-Pacific. The strong pharmaceutical manufacturing sector, high adoption of advanced technologies, and numerous regulatory approvals for pharmaceuticals contribute to North America's leading position in this market.
Leading Companies
Key players in the pharmaceutical storage and material handling equipment market include: Servolift GmbH (Germany), Müller Group (Switzerland), Hanningfield Process Systems Ltd. (U.K.), GEA Group Aktiengesellschaft (Germany), AZO GmbH Co. KG (Germany), David Round Company, Inc. (U.S.), Flexicon Corporation (U.S.), Spirotech Group Ltd (U.K.), VAC-U-MAX (U.S.), Dec Group (Switzerland), Volkmann, Inc. (U.S.), Schenck Process Holding GmbH (Germany), Coperion GmbH (Germany), Matcon Limited (U.K.), Gough Econ, Inc. (U.S.), Guttridge Limited (U.K.), and Glatt GmbH (U.K.).
Opportunities in Developing Economies
Developing economies are becoming increasingly vital to the pharmaceutical storage and material handling equipment market. Local production of pharmaceutical products is seen as a strategic priority in these regions, providing both high-quality production capabilities and economic benefits. The COVID-19 pandemic underscored the importance of local production, as global supply chains were disrupted by lockdowns in major pharmaceutical-producing countries like China.
In addition, economic growth and demographic shifts in countries such as India, China, and other Southeast Asian nations have expanded public insurance schemes, improving access to pharmaceuticals. In the Middle East Africa, governments are using aggressive drug pricing negotiations and price cuts to enhance access to medicines. This increased access is driving up demand for pharmaceutical products, leading companies to expand their manufacturing facilities to meet future needs.
For instance, Catalent, Inc., a U.S.-based pharmaceutical company, expanded its manufacturing site in Argentina in August 2020. The Middle East Africa have also seen significant growth in pharmaceutical manufacturing, particularly in the production of generic drugs, which directly impacts the adoption of pharmaceutical storage and material handling equipment. These developments are expected to boost demand for such equipment in these regions.
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Market Segmentation
The pharmaceutical storage and material handling equipment market is segmented by type, mode of operation, dosage form, and geography.
By Type: The market is divided into transport systems, storage systems, lifting and positioning systems, and stacking and unit formation systems. In 2023, the transport systems segment is expected to hold the largest market share, with conveyors being the most widely used sub-segment due to their efficiency in transporting materials in the pharmaceutical industry.
By Mode of Operation: The market is categorized into semi-automatic, automatic, and manual systems. The semi-automatic segment is anticipated to dominate the market in 2023, driven by the affordability, flexibility, and reduced manual processes associated with these systems.
By Dosage Form: The market is segmented into solid, liquid, and semi-liquid forms. Solid dosage forms, which include tablets, capsules, and powders, are expected to account for the largest market share in 2023 due to their high efficiency and the launch of new potent solid drugs.
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