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Pharmaceutical Processing Equipment Market size was valued at USD 7.84 billion in 2019 and is poised to grow from USD 8.4 billion in 2023 to USD 15.71 billion by 2031, growing at a CAGR of 7.2% in the forecast period (2024-2031).

A competitive landscape based on an extensive assessment of the key strategic developments adopted by leading market participants in the industry. Players in the market are investing in collaborations, mergers and acquisitions, partnerships, and research & development activities to gain competitive advantage over other players in the market. 'GE Healthcare', 'Thermo Fisher Scientific', 'GEA Group', 'IMA Group', 'Becton, Dickinson and Company', 'Robert Bosch GmbH', 'Siemens AG', 'Sartorius AG', 'Lonza Group', 'Pall Corporation', 'Merck KGaA', 'Johnson & Johnson', 'Danaher Corporation', 'ABB Ltd.', 'Eppendorf AG', 'Shimadzu Corporation', 'Hitachi Ltd.', 'Agilent Technologies', 'Waters Corporation', 'Nova Biomedical Corporation'

Globally, producers are switching to processing and packaging machinery that is flexible and modular. Traditional manufacturing methods are more expensive since they call for greater material and financial resources. This increased need for modern, adaptable, and modular pharmaceutical processing and packaging equipment has fueled the market's expansion.

Governments from various nations are beginning to support biopharmaceutical and pharma firms to discover and produce medications for a number of infectious and chronic diseases, as well as to stress the expansion of the life science infrastructure by launching several projects. The need for packaging equipment has increased as a result of these developments, which will further raise the favourable chances for market growth rate.

On the basis of region, it is segmented into North America, Europe, Asia Pacific, Latin America and Middle East and Africa(MEA). The demand for pharmaceutical processing and packaging equipment is likely to increase due to the high volume of production and consumption in Asia-Pacific nations, rising generic drug demand, booming contract manufacturing sector, and supportive government policies intended to increase domestic production. Asia-Pacific nations have developed domestic manufacture to reduce their reliance on imports for medicinal items. For instance, the Chinese government's Made in China policy places a strong emphasis on raising domestic manufacturing. These initiatives are anticipated to fuel market expansion in the Asia-Pacific region. Europe is estimated to see the highest growth during the forecast period due to its higher level of pharmaceutical product production. The main contributors to the greatest revenue share in North America include the relocation of these manufactures to the United States, the growth of manufacturing facilities, and agreements between pharmaceutical firms and CMOs to boost the availability of pharmaceuticals. The demand for cutting-edge technologies in processing is also being fueled by an increase in government financing for the research and development of COVID-19-related medicines.

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Global Pharmaceutical Processing Equipment Market

Product ID: SQMIG35A2172