Global Pharmaceutical Processing Seals Industry Outlook
The global pharmaceutical processing seals market is forecast to reach USD 2.78 Billion by 2026, according to a new report by Reports and Data. The standard for pharmaceutical processing seals is quite high, owing to the demand for cleanliness and hygiene. Strict legal guidelines and purity requirements always need to be implemented.
Seals come in direct contact with a different variety of media at fluctuating pressures and temperatures; thus, they must be completely free of hazards and side effects. Not only should they unfailingly prevent process changes or product contamination, but they must also not impair any active agents through interactions or the transfer of sealing components.
The global pharma & healthcare market report points out the key trends and developments taking place in this business space in the ongoing COVID-19 times. According to market experts, the pandemic has turned this industry upside down, with an unprecedented rise in demand and acute supply shortage. The report clearly depicts the current global economic landscape and the considerable situation of the healthcare industry. A substantial increase in demand for healthcare services worldwide, rising cases of the SARS-CoV-2 infection, increasing pharmaceutical research & development activities, and new drug pipelines are among the key factors that have driven the global pharma & healthcare industry growth in the recent past. Growing acceptance of telehealth and telemedicine services, rise in government initiatives for COVID-19 vaccine development, and escalating demand for advanced point-of-care diagnostics and home healthcare products have further bolstered the industry growth.
Further key findings from the report suggest
- O-Rings held a market share of 34.2% in the year 2018. It offers the designer an efficient and economical sealing element for a wide range of dynamic applications. The production methods of these rings are inexpensive, and the ease of application makes it the most commonly used processing seal.
- Manufacturing equipment is forecasted to grow with a CAGR of 5.9% during the forecast period. These equipment are used in the pharmaceutical industry for the production of pharmaceutical compounds. Growth of the healthcare industry due to the rising population and growing incidences of chronic diseases and rising expenditure in healthcare are increasing the demand for manufacturing equipment.
- Metals are generally used for pharmaceutical processing due to their ability to withstand extreme temperature and pressure, chemical reactions, non-reactiveness from process fluids. They are also resistant to toxic chemicals and prevent contamination and leakage. Metals held the largest market share of 25.6% in the year 2018.
- 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 governments in the Asia Pacific region have also encouraged market growth.
In-depth Study of the Competitive Landscape:
The global Pharmaceutical Processing Seals market consists of various market players, which make this business sphere highly competitive. In this section of the report, the authors have provided authentic information on product portfolios, new product innovations, technological capabilities, and product pricing strategies of each of these players. Moreover, it discusses the key strategies implemented by these players, such as mergers & acquisitions, joint ventures, collaborations, partnerships and agreements, to build on their market presence.
Top companies profiled in the report include:
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.
Key Market Regions Covered in the Report:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- The Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Type Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2016-2026)
- O-Rings
- Gaskets
- Lip Seals
- D Seals
- Others
Material Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2016-2026)
- Metals
- PTFE
- Silicone
- Nitrile Rubber
- EPDM
- Others
Research Objective
- To provide a comprehensive analysis of the Pharmaceutical Processing Seals Industry, thereby providing a detailed structure of the market.
- To provide detailed insights into factors driving and restraining the growth of the Pharmaceutical Processing Seals Industry.
- To estimate the market size of each market segment which in turn is responsible for revenue generation of the respective countries.
To provide strategic profiling of key companies present across the globe, and comprehensively analyze their competitiveness/competitive landscape in this market - To identify business opportunities in the Pharmaceutical Processing Seals Market
- To provide a country-wise market forecast for market segments and sub-segments.
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