DELRAY BEACH, Fla., Dec. 10, 2024 /PRNewswire/ -- The global pharmaceutical manufacturing equipment market size is projected to grow from USD 19.41 billion in 2024 to USD 26.94 billion in 2029, recording a CAGR of 6.8% during the forecast period according to a new report by MarketsandMarkets. The pharmaceutical manufacturing equipment market is growing rapidly as the demand for pharmaceuticals, especially generic drugs, is on the rise. Generic drugs offer a more affordable alternative to branded medications and have therefore been an important solution for these needs. The investment on advanced equipment and technology has taken place in manufacturing in pharmaceuticals companies to help smoothen the production process by increasing efficiency.
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Browse in-depth TOC on "Pharmaceutical Manufacturing Equipment Market"
150 - Tables
70 - Figures
250 - Pages
Pharmaceutical Manufacturing Equipment Market Report Scope:
Report Coverage | Details |
Market Revenue in 2024 | $ 19.41 billion |
Estimated Value by 2029 | $ 26.94 billion |
Growth Rate | Poised to grow at a CAGR of 6.8% |
Market Size Available for | 2020-2029 |
Forecast Period | 2024-2029 |
Forecast Units | Value (USD Million/Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By equipment type, end-product type, process, end user, supplier type, and region |
Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
Key Market Challenge | Rising costs and expenditures related to usage of pharmaceutical manufacturing equipment |
Key Market Opportunities | Growth in personalised medicines |
Key Market Drivers | Rising demand for pharmaceuticals |
Mixing & blending machines segment is estimated to have the second largest market in the pharmaceutical manufacturing equipment market in 2023.
The mixing and blending machines held the second greatest market share for pharmaceutical equipment manufacturing due to the guarantees of consistency, quality, significant reduction of mixing time, and an array of viscosities that is possible. Their versatility allows for effective emulsifying, homogenizing and particle size reduction for making drugs more efficacious. Also, these devices have designs to meet rigid regulations with the ability to allow for cleaning and easy maintenance that can be met through FDA and cGMP requirements. Its cost effectiveness will also be enhanced through saving on energy and improving process efficiencies as advancements in digital technology provide improvement in monitoring and control.
Solid segment is expected to hold major share in the pharmaceutical manufacturing equipment market in 2023.
Solid dosage forms remain the most widely prescribed worldwide and continue to be the demand driver for efficient production equipment. With the rising prevalence of chronic diseases, the trend has further been influenced by the need for convenience and accuracy in dosing, thereby driving a higher demand for quality solid dosage manufacturing. Furthermore, innovations in solid dosage technology regarding better automation, precision, and scalability have increased capabilities for production, thus it becomes a first choice among pharmaceutical companies.
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Europe is expected to witness the second highest CAGR of the pharmaceutical manufacturing equipment industry during forecast period.
The growing demand for pharmaceuticals in Europe is driven by the changing healthcare requirements and the growing incidence of chronic diseases, which impose a high demand on the need for efficient production and packaging solutions. Such a surge in demand requires more advanced manufacturing equipment that would ensure quality and comply with the stringent regulations of organizations such as the European Medicines Agency (EMA). Further, European pharmaceutical companies increasingly have embraced flexible manufacturing practices to help them make a diverse set of formulations of drugs with ease such as oral, parenteral, and topical. The flexibility allows them to adjust in response to the changes happening very fast in the marketplace.
The key companies in the pharmaceutical manufacturing equipment companies include GEA Group Aktiengesellschaft (Germany), I.M.A. INDUSTRIA MACCHINE AUTOMATICHE S.P.A. (Italy), Syntegon Technology GmbH (Germany), Romaco Group (Germany), ACG (India), Körber AG (Germany), Thermo Fisher Scientific Inc. (US), Marchesini Group (Italy), MG2 s.r.l (Italy), Glatt GmbH (Germany).
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