Global Aseptic Pharma Processing Equipment Market Projected to Touch Market Worth USD 12.9 Billion: Growing at a CAGR of 7.2% in the Forecast Period
Published | 18 August 2021
The growth of the global aseptic pharma processing equipment market is attributed to the flourishing pharmaceutical industry and the increasing production of drugs and medicines, along with stringent government policies for sterilization and hygiene of the products...
A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the global aseptic pharma processing equipment market was worth USD 8.0 billion in the year 2020. The market is estimated to grow at a CAGR of 7.2% earning revenue of around USD 12.9 billion by the end of 2027. Due to the growth of the pharmaceutical industry and expanding production of drugs and medicines, the global market for aseptic pharma processing equipment has been experiencing rapid growth. Furthermore, stringent government policies for sterilization and hygiene of the products will boost the global market in the forecast period. However, a shortage of skilled workforce for performing aseptic pharma processing techniques may act as a barrier to market growth.
Increasing Prevalence of Contract Development in Pharmaceutical Industry Favoring Market Growth
The demand for various types of drugs and medicines is increasing at a rapid rate around the world. Therefore, to meet the growing demands of pharmaceuticals, manufacturers are increasingly resorting to contract development. With expanding manufacturing operations of pharmaceuticals, the demand for aseptic pharma processing equipment is also rising. The contract development service providers offer the best expertise, ensuring the presence of skilled workers to perform aseptic pharma processing techniques. As a result, the global aseptic pharma processing equipment market is experiencing significant growth.
Growing Research and Development Activities Is Projected to Drive the Aseptic Pharma Processing Equipment Market Growth
With the increasing prevalence of various zoonotic and lifestyle diseases, the R&D activities have amplified significantly. Thousands of researchers from around the world are trying to reduce or eliminate the side effects of the medicine.As a result of the growing R&D activity, the demand for aseptic pharma processing equipment has also increased.Since pharmaceutical companies are working toward expanding their production by producing new medicines, the global aseptic pharma processing equipment market is projected to grow at a high CAGR during the forecast period.
Global Aseptic Pharma Processing Equipment Market - By Application
Based on applications, the global aseptic pharma processing equipment market is segmented into ophthalmic suspensions, reconstituted lyophilized powders for injection, sterile injectables, aqueous-based aerosols for inhalation, and other applications. Among these, the ophthalmic suspension segment holds the largest market share. The ophthalmic products contain one or more active pharmaceutical ingredients and are intended for application to the conjunctiva or the eyelids. The chances of microbial content or the bio-burden of the raw materials are very high, because of which the aseptic pharma processing technique becomes very crucial. As such, this application is a major growth driver for the global aseptic pharma processing equipment market.
Global Aseptic Pharma Processing Equipment Market - Regional Insights
Geographically, the global aseptic pharma processing equipment market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. Among all the regions, North America dominates the market, followed by Europe. However, the Asia-Pacific region is projected to witness the highest CAGR during the forecast period. Several countries, including India and China, are investing heavily in expanding pharmaceutical production in their regions and becoming world leaders. Furthermore, the government and private institutions are also investing in the R&D activities for the development of various drugs and medicines, which is expected to boost the global aseptic pharma processing equipment market in the upcoming years.
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Impact of COVID-19 on Global Aseptic Pharma Processing Equipment Market
During the COVID-19 pandemic, the global aseptic pharmaceutical processing equipment market enjoyed tremendous growth opportunities.The growing demand for medicines and drugs during the global crisis drove the growth of the pharmaceutical sector. Due to the extensive R&D activities for COVID-19 vaccine development and mass production of vaccines across the globe, there has been a spike in the demand for aseptic pharma processing equipment. As a result of its effectiveness in preventing the introduction of microbial contamination into pharmaceutical products, this process has become increasingly essential in pharmaceutical production.Furthermore, this market is anticipated to grow in the post-COVID-19 period as well.
The leading market players in the global aseptic pharma processing equipment market are AMCOR PLC, Automated Systems of Tacoma, LLC (AST), Becton, Dickinson, and Company, DuPont, SPX Flow, Inc., GEA Group, Rommelag, Greatview Aseptic Packaging Co., Ltd., Robert Bosch GmbH, IndustriaMacchineAutomatiche S.P.A., John Bean Technologies (JBT) Corporation, SP PennTech, Steriline, Biopharma Group, SaniSure, Atmos-Tech Industries, Nicos Group, and other prominent players.
The market is highly fragmented with the presence of several global and regional market players. Moreover, the industry participants significantly focus on product approvals and launch to increase their product penetration and expand their market share. The companies also invest significantly in R&D activities to gain a competitive edge. Furthermore, the adoption of organic and inorganic strategies like mergers, acquisitions, partnerships, and collaborations is also very prominent in this market.
Don’t miss the business opportunity of the global aseptic pharma processing equipment market. Consult our analysts to gain crucial insights and facilitate your business growth.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global aseptic pharma processing equipment market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the global aseptic pharma processing equipment market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
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- Aseptic Pharma Processing Equipment Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2018–2028, Segmented By Product (Processing Equipment, Packaging Equipment), By Application (Ophthalmic Suspensions, Reconstituted Lyophilized Powders for Injection, Sterile Injectables, Aqueous-Based Aerosols for Inhalation, Other Applications), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA)
Publish Date: August 2021
The global aseptic pharma processing equipment market is growing because of the increasing demand for pharmaceutical supplies and the use of such equipment to make pharmacy products shelf-stable. Additionally, stringent government policies to ensure the highest quality standards in pharmaceuticals contribute to the market’s growth.
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