Pharmaceutical Storage And Material Handling Equipment Market By Type (Transport, Storage, Lifting Equipment, Stack Systems), Mode Of Operation (Semi-Automatic, Automatic, Manual), Product Form (Solid, Liquid, Semi Solid), And Geography – Global Forecast To 2023
Pharmaceutical Storage and Material Handling Equipment Market by Type (Transport, Storage, Lifting Equipment, Stack Systems), Mode of Operation (Semi-Automatic, Automatic, Manual), Product Form (Solid, Liquid, Semi Solid), and Geography – Global Forecast to 2023
The global pharmaceutical storage and material handling equipment market is expected to grow at a CAGR of 8.6% from 2018 to reach USD 1,597.4 million by 2023.
Succeeding an extensive secondary and primary research and in-depth analysis of the market scenario, the report carries out an impact analysis of the key industry drivers, restraints, opportunities, and challenges. The factors such as rapid growth in pharmaceutical market, growing focus towards automation in pharmaceutical industry, increasing focus of manufacturers on reduction of production cost, government support to promote the pharmaceutical sector, and growing demand of single use systems are expected to propel the growth of this market. Moreover, shift towards the use of robotics and booming pharmaceutical industry in developing economies further supports the growth of this market.
The transport systems dominated the global pharmaceutical storage and material handling systems market in 2017, mainly due to the increasing use of automated and semi-automated transport systems to meet GMP standards, particularly in developed economies. This market also expected to grow significantly during the forecast period mainly due to customer’s demand for smaller lot sizes; shorter lead times; and higher quality products, especially in developing countries.
Further, semi-automated pharmaceutical storage and material handling systems market commanded the largest share of global market in 2017 with huge adoption by pharmaceutical manufacturers due to their technical and economic feasibility which can be regulated manually and automatically.
An in-depth analysis of the geographical scenario of the industry provides detailed qualitative and quantitative insights about the five major geographies (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) along with the coverage of major countries in each region.
North America commanded the largest share of the global pharmaceutical storage and material handling equipment market in 2017, followed by Europe and Asia-Pacific. The large share of this region mainly attributed to huge pharma manufacturing sector, high automation adoption rate in pharmaceutical industry, the innovations and advancements in bulk material handling products and technologies, and implementation of some expansions and acquisitions plans by the leading pharmaceutical storage and material handling systems manufacturers to increase the production capacity.
The major players operating in the global pharmaceutical storage and material handling equipment market are SERVOLiFT GmbH, Mueller GmbH, Hanningfield Process Systems Ltd., GEA Group Aktiengesellschaft, AZO GmbH + Co. KG, David Round Company, Inc, FLEXICON Corporation, Spirotech-SRD Group Ltd., VAC-U-MAX, Dietrich Engineering Consultants S.A., Volkmann, Inc, Schenck Process Holding GmbH, Coperion Capital GmbH, Matcon Ltd., Gough Econ, Inc, Guttridge Limited, and Glatt GmbH among others.
Scope of the Report:
Market by Types
Intermediate Bulk Containers
Containers and Drums
Racking and Shelving Systems
Lifting and Positioning Systems
Stacking and Unit Formation Systems
Market by Mode of Operation
Market by Product Form
Market by Geography
Rest of Europe (RoE)
Rest of APAC (RoAPAC)
Rest of World
Middle East and Africa