The pharmaceutical fluid handling market is projected to reach US$ 14,209.40 million by 2028; registering at a CAGR of 4.7% from 2022 to 2028, according to a new research study conducted by The Insight Partners.
Equipment Segment Dominated Pharmaceutical Fluid Handling Market in 2021
Increasing drug production and growing adoption of single-use systems in the pharmaceutical industry are the factors that contribute to the pharmaceutical fluid handling market growth. However, high price of failed clinical trials restricts the market growth.
Increase in Vaccine Production Provides Opportunity to Pharmaceutical Fluid Handling Market
Vaccines strengthen the immune system of different age groups, providing protection against infectious diseases. In the past few decades, effective immunization has eliminated polio and smallpox, which registered high mortality rates. In recent years, there has been an increase in vaccination demand due to the rising incidences of viral and bacterial infectious diseases. Further, government foundations, hospitals, and pharmaceutical companies are focusing on regular vaccine administration by providing cost-effective immunization globally. This is boosting the demand for vaccine production, which is likely to promote the growth of the pharmaceutical fluid handling market. For instance, the Indian Universal Immunization Programme (UPI) rolled out its pneumococcal conjugate vaccine to 21 lakh children. Additionally, government funding and company investments are stimulating R&D to launch new products. According to World Health Organization, in November 2022, a total of 16 billion vaccine doses, valued at US$ 141 billion, were supplied in 2021, which is approximately three times more than the doses supplied in 2019, i.e., 5.8 billion. The Serum Institute of India (SII) postponed HPV vaccine production for two years due to the focus on the development of COVID-19 vaccines; however, it will begin supplying HPV vaccine to the Government of India by 2023 in small quantities. Thus, an increase in vaccine production is anticipated to create an opportunity for the pharmaceutical fluid handling market during the forecast period.
Pharmaceutical Fluid Handling Market, by Region, 2021 (%)
Pharmaceutical Fluid Handling Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Offering (Equipment & Solutions and Services), Tubing (Thermoplastic Elastomers, Polyvinyl Chloride, and Silicone), Application (Fluid Handling & Management, Fluid Preparation, Integration & Automation, Buffer Management, and Others), Usage (Cough Syrup, Intravenous Product, Complex Active Pharmaceutical Ingredients, and Others), and End User (Biotechnology Companies, Pharmaceutical & Medical Companies, and Others)
Pharmaceutical Fluid Handling Market Statistics Report 2028
Download Free Sample
Based on offering, the global pharmaceutical fluid handling market is segmented into equipment and solutions and services. In 2021, the equipment segment held the largest share of the market, and it is expected to register the highest CAGR during 2022–2028. The equipment & solutions segment is further segmented into metering pumps and capsule equipment (filling/sorting), mixing equipment and valves, thermal processing equipment (coolers/chillers/dryers/heat-exchangers), x-ray inspection systems, tanks for holding liquids and flow control products, filters/filter sets (pre-filters/ sterilizing grade filters/ virus filters), powder handling bags, sterile connectors/disconnectors and membrane filter cartridges, and others. Based on tubing, the market is segmented into TPE, PVC, and silicone.
CIRCOR International Inc, Parker Hannifin Corp, Danaher Corp, Spirax Sarco Engineering plc, Merck KGaA, Rochling SE & Co KG, RAUMEDIC AG, Tef Cap Industries Inc, Fraser Ross Ltd, and Australian Fluid Handling Pty Ltd are the key companies operating in the pharmaceutical fluid handling market.
The report segments the pharmaceutical fluid handling market as follows:
The pharmaceutical fluid handling market is segmented on the basis of offering, tubing, application, usage, end user, and geography. Based on offering, the market is segmented into equipment & solutions and services. Based on tubing, the market is segmented into TPE, PVC, and silicone. Based on application, the market is segmented into fluid handling and management, fluid preparation, integration and automation, aseptic processing, buffer management, and others. Based on usage, the market is segmented into cough syrup, intravenous products, complex APIs, and others. Based on end user, the market is segmented into biotechnology companies, pharmaceutical and medical companies, and others.
In terms of geography, the pharmaceutical fluid handling market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, Africa, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).
Contact Us
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com