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At 8.6% CAGR, Pharmaceutical Storage And Material Handling Equipment Market Size To Surpass US$1,597.4 Mn by 2023
, August 08, 2019 ) Meticulous Research® – leading global market research company published a research report titled “
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”. According to this latest publication from Meticulous Research®, 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.
The global pharmaceutical storage and material handling equipment market study presents historical market data in terms of values (2016 and 2017), estimated current data (2018), and forecasts for 2023-by type (transport, storage, lifting equipment, stack systems), mode of operation (semi-automatic, automatic, manual), and product form (solid, liquid, semi solid). The study also evaluates industry competitors and analyzes the market at regional and country level.
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The transport systems market dominated the global pharmaceutical storage and material handling equipment market, mainly due to the increasing use of automated and semi-automated transport systems to meet GMP standards. This market is also expected to increase significantly during the forecast period with the growing demand for smaller lot sizes; shorter lead times; and higher quality products, especially in developing countries.
Geographically, North America commanded the largest share of the global market, mainly due to its huge pharma manufacturing sector, high adoption rate of automation in the pharmaceutical industry, 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 production capacity.
The report includes competitive landscape based on the extensive assessment of the key strategic developments adopted by the leading market participants in the industry over the past 4 years (2015-2018). The key 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.
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Scope of the Report:
Market by Types
• Transport Systems
• Intermediate Bulk Containers
• Drum Handler
• Storage Systems
• Containers and Drums
• Racking and Shelving Systems
• Lifting and Positioning Systems
• Lift Tables
• Stacking and Unit Formation Systems
Market by Mode of Operation
Market by Product Form
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