The key players operating in the Pharmaceutical Manufacturing Equipment Market are eutical manufacturing equipment market is estimated to be worth USD 14.5 billion in 2023 and is projected to reach USD 19.7 billion by 2028, at a CAGR of 6.3% during the forecast period. Growing demand for generics, rising necessity for adoption of flexible pharmaceutical manufacturing practices, rising potential of pharmaceutical manufacturing infrastructure worldwide, and growing implementation of government schemes and regulatory frameworks for quality assurance are some of the major factors driving the market growth globally. , Pharmaceutical Manufacturing Equipment Market Dynamics , Driver: Rising demand for generics , As patents on branded drugs are expiring, the generic drug market is proliferating worldwide. One of the major factors driving the generic drug market is the implementation of favorable policy frameworks across regions aimed at reducing the overall cost of healthcare and check the spread of chronic diseases. In a time when pharmaceutical manufacturers are experiencing stagnation in developed economies, the growth opportunities in emerging markets, especially in Africa, seem enormous. Significant factors contributing to these opportunities include critical infrastructure improvements, extensive urbanization, rising demand for a diverse set of medications from the population, and growing investments in the healthcare sector. Moreover, there is a growing inclination toward injectable generics. Governments across the world are supporting the manufacturing of injectable generics as they offer benefits in terms of dosage, quality, strength, and less cost-intensive R&D cycle. Even in developed economies such as the US, the growing aging population, the expiration of patents for many popular drugs, and an exponential rise in chronic diseases are contributing to the growth of the generics market. , Restraint: Demand for refurbished equipment , For manufacturers to purchase and install new manufacturing equipment, many upfront costs are involved. In addition, manufacturing equipment can rapidly become outdated in a dynamic industry such as pharmaceuticals. Therefore, there is a growing demand for refurbished pharmaceutical manufacturing equipment across the globe. Refurbishment can be described as rebuilding or updating used equipment with new materials, technology, components, or parts to restore its condition to its original operating state and appearance. Moreover, refurbishment typically costs around half as much as acquiring new equipment. Therefore, refurbished manufacturing equipment helps the manufacturer by reducing upfront costs, providing flexibility for upgradation, and lessening costs by extending the equipment’s lifespan to realize maximum return on investment. One of the major factors for the growing demand for refurbished pharmaceutical manufacturing equipment in developing economies is the gap between demand and supply leading to limited accessibility of new equipment. Moreover, it becomes difficult for small and medium-sized pharmaceutical manufacturing plants to adopt and upgrade new equipment due to a limited purchasing budget. As a result, the demand for refurbished pharmaceutical manufacturing equipment is increasing. , Opportunity:Adoption of pharmaceutical manufacturing equipment to enable first-to-market advantages , Rapidly growing demand for drugs and injectables has triggered competition among manufacturers to expedite the development and review pathways to reduce the demand and supply gap. In the pharmaceutical industry, there are many first-to-market benefits spanning across different market contexts and are more evident in cases of specialty areas with a small number of patients and prescribers and when the first mover is a well-established pharmaceutical manufacturer with experience in the product’s therapeutic area. Traditionally, pharmaceutical manufacturing has been executed through a combination of multiple facilities to perform different processes across the supply chain. But, as the competition to increase the speed to market has intensified, the project delays occurring due to transfers between different manufacturing sites are negatively hampering the manufacturers. This emphasizes the utilization of modern and advanced pharmaceutical manufacturing equipment, especially in modular setups, to enable the manufacturing of pharmaceuticals from one single diverse facility encompassing all supply chain processes. The use of modern pharmaceutical manufacturing equipment is helping manufacturers to cut down on lead times. , Challenge: Rising costs and expenditures related to usage of pharmaceutical manufacturing equipment , Pharmaceutical manufacturing equipment must comply with strict regulations and guidelines set by government agencies, such as the EMA and FDA. Adhering to multiple regulations and standards is a time-consuming process and increases capital expenditures. In addition, pharmaceutical manufacturing equipment is often expensive to purchase, operate, and maintain. The high upfront costs related to adherence to regulations and maintenance can hinder innovation and product development. They also threaten the entry of emerging or smaller players to enter the market. Moreover, to cater to the ever-changing market demand in the pharmaceutical industry, manufacturing equipment needs to be constantly evolving. It needs regular upgrades, which involves additional costs for pharmaceutical manufacturers. This poses a significant challenge for pharmaceutical players to adopt and maintain various pharmaceutical manufacturing equipment. , Packaging machines accounted for the largest share of the pharmaceutical manufacturing equipment market in 2022 , The use of pharmaceutical packaging machines helps ensure that the final product is protected from contamination, damage, and degradation and meets the required specifications for labeling, dosage, and storage. The efficient and precise packaging of drug products is essential to ensure that they are safe and effective for patient use and to comply with regulatory requirements. With the increasing geriatric population, rising healthcare investment, and growing cases of chronic diseases across the world, the demand for diverse and innovative drugs is increasing, which in turn are driving the adoption of technologically advanced pharmaceutical packaging machines to adhere to the stringent regulatory policies. , Liquid end-product type segment to account for the largest share of the market during forecast period , Liquid dosage forms are easier to swallow and more suitable for patients with difficulty swallowing tablets or capsules. They allow precise dosing, as the amount of drug in each dose can be easily measured and adjusted. This is particularly important for drugs with a narrow therapeutic range or requiring precise dosing. Liquid dosage forms provide greater flexibility in formulation, as drugs that are insoluble or unstable in solid dosage forms can be formulated as solutions or suspensions. Owing to these reasons, liquid dosage forms are preferred more over solid dosage forms, thereby driving their demand. , Asia Pacific held for the largest share of the pharmaceutical manufacturing equipment market in 2022 , Asia Pacific is one of the fastest-growing and dynamically emerging pharmaceutical markets globally. Due to the low labor and manufacturing costs, the developing pharmaceutical manufacturing infrastructure, especially in India and China, has attracted many foreign investments from several pharma giants such as Uhlmann Group, Bausch+Ströbel, IMA S.p.A., and Marchesini Group. Moreover, governments across Asia are implementing schemes to boost local manufacturing capacity, expand generic drug production, and enhance quality assurance by establishing stringent regulations to meet standards. , Recent Developments , In January 2023, Romaco Group launched Unity 600 blister packaging line from the Romaco Noack brand. The new technology leads the way in sustainability, process reliability, and performance. , In September 2022, GEA Group Aktiengesellschaft launched an air heating system for spray dryers that reduces a plant’s consumption of fossil fuels and its associated carbon footprint by at least 50%. , In August 2022, GEA Group Aktiengesellschaft launched the NexGen Press, a new tablet press product line. This product line combines the advantages of existing products MODUL and PERFORMA rotary table press lines. , In July 2022, Marchesini Group along with SEA Vision Group (Italy) introduced a new serialization and aggregation technology INTEGRA 720V complete robotized blister line, the BL-A525 CW high-speed labeler, and the complete Track & Trace software solution developed by SEA Vision Group. , In September 2021, Syntegon Technology GmbH presents new solutions for lab-scale and small-batch filling of solid and liquid pharmaceuticals. The new GKF 60 capsule filling machine enables the development of new formulations with various dosing systems at different OEB levels and an optional 100% gravimetric weighing system. , KEY MARKET SEGMENTS , By Equipment Type: , Packaging Machines , Mixing and Blending Machines , Filling Machines , Spray Drying Equipment , Milling Equipment , Inspection Equipment , Extrusion Equipment , Tablet Compression Presses , By End-product Type: , Solid , Liquid , By Region , North America , US , Canada , Mexico , Europe , Germany , UK , France , Italy , Rest of Europe , Asia Pacific , China , Japan , India , South Korea , Rest of Asia Pacific , Rest of the World , Middle East & Africa , South America , KEY MARKET PLAYERS , GEA Group Aktiengesellschaft , I.M.A. INDUSTRIA MACCHINE AUTOMATICHE S.P. A , Syntegon Technology GmbH , ACG , Thermo Fisher Scientific Inc..
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