According to a new market research report, ‘Pharmaceutical Storage and Material Handling Equipment Market by Type (Transport [Conveyor, IBC], Storage, Lifting [Crane, Hoist], Stacking System [Pallet, Crate]), Operation Mode (Automatic, Manual), Product Form (Solid, Liquid) - Global Forecast to 2030,’ published by Meticulous Research®, the pharmaceutical storage and material handling equipment market is projected to reach $5.83 billion by 2030, at a CAGR of 9.8% from 2023 to 2030.

The consumption of pharmaceuticals is increasing worldwide, not only in terms of expenditure but also in the volume or quantity of drugs consumed. This demand is associated with an increasingly aging population and the high prevalence of various chronic diseases. As demand for medicines increases along with the growing incidence of diseases, it implies significant demand to adopt new methods, technologies, and machinery in the pharmaceutical industry, which ultimately drives the demand for various pharmaceutical equipment, including storage and material handling systems.

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The growth of this market is driven by the rapid growth in the pharmaceuticals market, rising focus on automation in the pharmaceutical industry, the focus of manufacturers to reduce production costs, and government support to promote the pharmaceutical sector. However, the cost of setting up efficient material handling systems in the pharmaceutical industry may restrain the growth of this market to a notable extent. Additionally, a shift toward the use of robotics, developing economies, and the increasing adoption of generic drugs are creating opportunities for market growth.

COVID-19 Pandemic Impact on the Pharmaceutical Storage and Material Handling Equipment Market
The COVID-19 pandemic has significantly disrupted the global pharmaceutical supply chain. Policymakers around the globe are focused on increasing supply chain resiliency. The pharmaceutical storage and material handling equipment industry has been positively and negatively affected by the COVID-19 pandemic. The negative impact was only witnessed initially, with shortages in the supply of pharmaceutical storage and material handling equipment caused due to the temporary closure of local manufacturing plants during the lockdown.

The overall impact on the market has been positive as the COVID-19 pandemic resulted in increased reliance on the local production of pharmaceuticals, boosting the demand for pharmaceutical storage and material handling equipment. In developed countries such as the U.S., advanced manufacturing facilities were implemented to boost domestic production and avoid further disruptions.

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The pharmaceutical storage and material handling equipment market is segmented by Type (Transport Systems [Conveyors, Intermediate Bulk Containers (IBC), Drum Handlers, Other Transport Systems], Storage Systems [Silos, Containers and Drums, Racking and Shelving Systems, Other Storage Systems], Lifting and Positioning Systems [Cranes, Hoists, Lift Tables, Other Lifting and Positioning Systems], Stacking and Unit Formation Systems [Pallets, Crates, Palletizers, Other Stacking and Unit Formation Systems]), Mode of Operation (Semi-automatic, Automatic, Manual), Dosage Form (Solid, Liquid, Semi-liquid), and Geography. The study also evaluates industry competitors and analyzes the regional and country-level markets.

Based on product, the transport systems segment is projected to register the highest CAGR during the forecast period due to increasing customer demand for smaller lot sizes and shorter lead times and the increasing demand for higher quality products, especially in developing countries

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Based on mode of operation, in 2023, the semi-automatic segment is expected to account for the largest share of the pharmaceutical storage and material handling equipment market. The large market share of this segment is attributed to the increased adoption of semi-automatic systems due to their affordability and flexibility of use, leading to smooth processes.

Based on dosage form, in 2023, the solid form segment is expected to register the highest CAGR during the forecast period. The upgradation of manufacturing from batch to continuous processing of solid form of drugs and solid dosage forms being the most popular dosage form across the patient group contribute to the high growth of this segment.

Based on geography, in 2023, North America is expected to dominate the global pharmaceutical storage and material handling equipment market, followed by Europe and Asia-Pacific. Advanced healthcare infrastructure in the U.S. and Canada, the high adoption of advanced technologies, a well-established pharmaceutical industry, and the launch of new drugs in the region contribute to this market’s large share. However, Asia Pacific is expected to register the fastest CAGR during the forecast period.

The key players profiled in this market study are Servolift GmbH (Germany), Müller Group (Switzerland), Hanningfield Process Systems Ltd. (U.K.), GEA Group Aktiengesellschaft (Germany), AZO GmbH & Co. KG (Germany), David Round Company, Inc. (U.S.), Flexicon Corporation (U.S.), Spirotech Group Ltd (U.K.), VAC-U-MAX (U.S.), Dec Group (Switzerland), Volkmann, Inc. (U.S.), Schenck Process Holding GmbH (Germany), Coperion GmbH (Germany), Matcon Limited (U.K.), Gough Econ, Inc. (U.S.), Guttridge Limited (U.K.), and Glatt GmbH (U.K.).

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/pharmaceutical-storage-and-material-handling-equipment-market-4364

Scope of the Report:
Pharmaceutical Storage and Material Handling Equipment Market, by Type
• Transport Systems
o Conveyors
o Intermediate Bulk Containers (IBC)
o Drum Handler
o Other Transport Systems
• Storage Systems
o Silos
o Containers and Drums
o Racking and Shelving Systems
o Other Storage Systems
• Lifting and Positioning Systems
o Cranes
o Hoists
o Lift Tables
o Other Lifting and Positioning Systems
• Stacking and Unit Formation Systems
o Pallets
o Crates
o Palletizers
o Other Stacking and Unit Formation Systems
Pharmaceutical Storage and Material Handling Equipment Market, by Mode of Operation
• Semi-automatic Operation
• Automatic Operation
• Manual Operation
Pharmaceutical Storage and Material Handling Equipment Market, by Dosage Form
• Solid Form
• Liquid Form
• Semi-solid Form
Pharmaceutical Storage and Material Handling Equipment Market, by Geography
• North America
o U.S.
o Canada
• Europe
o Switzerland
o Germany
o Italy
o U.K.
o France
o Ireland
o Rest of Europe (RoE)
• Asia-Pacific
o China
o Japan
o India
o Rest of APAC (RoAPAC)
• Latin America
o Brazil
o Mexico
o Rest of Latin America (RoLATAM)
• Middle East & Africa

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