The global pharmaceutical processing seals market is forecast to reach USD 2.78 Billion by 2030, according to a new report by Reports and Data. The rising support by the government and regulatory and legislative changes are the key factors for the growth of the market. The government is enforcing mandatory healthcare and medical insurance schemes which are enabling patients to avail expensive treatments and thus encouraging pharmaceutical companies to increase their production. Production of new drugs are also driving the pharmaceutical processing seals market. Expansion of production capacity and consistent investment into the innovation of new drugs in the pharmaceutical industry are forecasted to drive the demand for pharmaceutical processing seals market.
Laws designed to get feedback from patient on biological or synthetic drugs are also helping the market grow. Demand to increase the production of pharmaceutical drugs will also boost the market demand as these type of regulations have a direct impact on the people opting for medical care — factors like these impact the market directly in a positive manner.
The advent of Pharma 4.0 is also affecting the market growth. Incorporation of automation and digital technology will propel the market growth. This process identifies and rectifies any deviation in manufacturing operations, prevents downtime and product loss. The need for advanced pharmaceutical processing seals will arise with the rise in demand for machines and equipment fitted with sensors and other technologies.
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Asia Pacific is forecasted to grow with a CAGR of 6.0% during the forecast period. The growing healthcare sector, coupled with high demand for over the counter drugs, are driving the market in the region. Favorable rules and regulations by the government in the Asia Pacific region have also encouraged market growth.
Key Coverage of the Report
- Region and country wise statistics of the global Pharmaceutical Processing Seals market from the period 2019-2030. While 2019 & 2017 has been utilized as historical data, 2018 is considered the base year. 2019-2030 have been derived as forecasts.
- Estimation of the market size along with historical and forecasted trend analysis.
- Various product types available for the market have been analyzed. Statistical analysis has been conducted on obtaining the individual share of these segments.
- Share of types, such as O-Rings, Gaskets, Lip Seals, D Seals, and Others has been estimated.
- Regional up-coming research and application outlook.
- Regional prevalence has been mapped.
- Demand and Supply GAP Analysis
- Regional Competitors Pricing Strategy
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations).
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments.
Salient Trends of the Pharmaceutical Processing Seals Market
- Growing geriatric population and increasing demand for over-the-counter drugs are also impacting the market positively.
- The growing healthcare industry across the globe due to rise in chronic diseases and favorable government regulations are fueling the market demand.
- An upcoming market trend, such as the emergence of Pharma 4.0, will also fuel the market. The implementation of latest digital technology and automation in the healthcare industry are facilitating consistent, real-time monitoring of pharmaceutical manufacturing processes.
- An act was introduced in the U.S. to fast track the production of drugs to release them in the market. Regulations like these impact the people going for medical care directly. This contributes towards the market growth and in turn, drives the market for pharmaceutical processing seals.
- Favorable trade policies proposed by the governments in the Asia Pacific region are leading to an increase in the hospitals and healthcare industry growth which translated into the growth for Pharmaceutical Processing Seals Market in the region.
- Saint-Gobain expanded its research and development base in Belgium in August 2018, by growing its current square feet of the research laboratory. The latest addition is dedicated to in-house testing and seal approvals.
Companies considered and profiled in this market study
Saint-Gobain, Flowserve Corporation, Garlock, Idex Corporation, Techno Ad Ltd., Trelleborg, Parker Hannifin Corporation, Morgan Advanced Materials, Marco Rubber & Plastic Products Inc., and Technetics Group, among others. The companies have adopted various strategies, including mergers, acquisitions, and partnerships to hold ongoing trails and come up with new developments in the market.
- The valuation for the pharmaceutical processing seals market was USD 1.76 Billion in 2018, and it is expected to reach USD 2.78 Billion by 2030.
- Gaskets are forecasted to hold a market share of 21.6% in the year 2030. Fluorosilicone gaskets are generally used as static seals in the processing equipment, making up solid dosage and tablet coating production lines. PTFE gaskets for pharmaceutical applications are used in pumps, valves, mixers, and flanged joints in transfer and piping equipment.
- Manufacturing equipment held a market share of 63.9% in 2018. Increasing global population, high investment in the healthcare sector, and growing incidences of chronic disease are boosting the market for Pharmaceutical Processing Seals.
- Silicone is forecasted to grow with the highest CAGR of 6.3% during the forecast period. Silicone has great flexibility and stability in temperature and pressure conditions, minimum bacterial growth, and chemical inertness. It is also an apt material to be used when purity and cleanliness are concerned. Silicone is used to manufacture diaphragms, gaskets, O-rings, and elastomer seals.
- Europe held a market share of 28.6% in the year 2018. The region has huge growth potential and provides lucrative opportunities for the growth of the market. A rise in medical care and expenditure from this region is expected to propel the market in this region.
- In November 2018, Technetics Group and Galock opened a new manufacturing facility in China to cater to the growing demand for sealing and components in the Asian countries.
Segments Covered in the report:
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the industry trends in each of the sub-segments from 2019 to 2030. For the purpose of this report, Reports and Data have segmented into the global Pharmaceutical Processing Seals market on the basis of type, material, application, and region:
Type Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2019-2030)
- Lip Seals
- D Seals
Material Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2019-2030)
- Nitrile Rubber
Application Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2019-2030)
- Manufacturing Equipment
Regional Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2019-2030)
- North America
- Asia Pacific
- Latin America
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