PUBLISHER: Mordor Intelligence Pvt Ltd | PRODUCT CODE: 1197961
PUBLISHER: Mordor Intelligence Pvt Ltd | PRODUCT CODE: 1197961
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The pharmaceutical granulation equipment market is projected to register a CAGR of 5.5% during the forecast period (2022-2027).
In recent times, countries have faced a huge threat of COVID-19. According to the World Health Organization (WHO), coronavirus is an infectious disease, and most people infected with the COVID-19 virus will experience mild to moderate respiratory illness. Owing to the situation, most pharmaceutical and biotechnological companies are focusing their R&D departments on identifying new molecules or leads for treating this disease, which is in the final phase of clinical trials. Many countries have already approved a vaccine for COVID-19. For instance, in December 2020, the World Health Organization (WHO) issued the emergency use validation of the Pfizer/BioNTech COVID-19 mRNA vaccine globally. As per the article titled ' Virtual and In Vitro Antiviral Screening Revive Therapeutic Drugs for COVID-19 ' published in October 2020, new potential therapeutics for COVID-19 identified with a combined virtual and experimental screening strategy and selected among the already approved drugs were studied to screen for structural similarity against a library of almost 4000 approved drugs with hydroxychloroquine (HCQ) as a reference drug. The study proposed zuclopenthixol, nebivolol, and amodiaquine as potential candidates for clinical trials against the early phase of the SARS-CoV-2 infection and remdesivir and favipiravir therapeutics as potential adjuvants in COVID-19 treatment. Thus, the rapid development of vaccines and other treatments for COVID-19 is expected to positively impact the market studied. However, with the disruption in the supply chain and suspended clinical studies, a short-term obstruction on the market growth is expected to be observed due to this pandemic situation.
The rise in healthcare research and development expenditure has also augmented the growth of clinical trials. For most pharmaceutical and biotechnological companies, clinical development and non-clinical services' costs account for most of their research and development budgets. As per the article titled ' Research and Development n teh Pharmaceutical Industry' published in April 2021 the pharmaceutical industry spend USD 83 billion on research and development. The high expenditure on research and development indicates the growth of novel drug discoveries. As per April 7th, 2022, updated data by Clinicaltrials.gov, it was found that currently, there are around 410,319 registered studies, including 169,924 studies on drugs or biologics and 61,961 recruiting studies with locations in all 50 States and 220 countries.. Thus, the major number of trials related to various types of drugs is likely to drive the demand for pharmaceutical granulation equipment during their development process. In addition, per the article published in April 2020, "32 Astonishing Pharmaceutical Statistics & Facts for 2020", there are over 7,000 drugs in development globally, and new drug development costs reach around USD 2.6 million. Hence, this high number of drugs in development shows that companies are heavily investing in research and development for better patient care and to address the unmet needs of patients.
Additionally, the increasing number of clinical trials by some pharmaceutical and biotechnology companies contributes to market growth. For instance, in May 2021, Evotec reported a phase 1 clinical trial on a new anticancer molecule. The candidate was created in partnership with Exscientia, a company based in Oxford, United Kingdom, that applies artificial intelligence (AI) techniques to small-molecule drug discovery. Thus, due to the above-mentioned factors, the market is expected to witness significant growth over the forecast period.
However, the high cost of equipment will hinder the market growth.
Advancements in science and technology are augmenting the growth of R&D activities by pharmaceutical companies globally. With the rise in R&D spending, the pharmaceutical industry is entering a new era of advanced medical development. For instance, per the article , "32 Astonishing Pharmaceutical Statistics & Facts for 2020", published in April 2020 there are over 7,000 drugs in development globally, and new drug development costs reach around USD 2.6 million. Hence, this high number of drugs in development shows that companies are heavily investing in R&D for better patient care and to address the unmet needs of patients. In May 2020, GlaxoSmithKline plc and Samsung Biologics entered into a partnership, under which Samsung Biologics will provide GSK with additional capacity for large-scale biopharmaceutical product manufacturing for GSK's innovative biopharmaceutical therapies. In February 2021, Hangzhou Sciwind Biosciences Co. Ltd (Sciwind), a clinical-stage fast-growing biopharmaceutical company, received USD 37 Million Series B financing from LYFE Capital to accelerate research and development of innovative biologics in the therapeutic area of chronic metabolic and immunological diseases. The development of a biologic or biosimilar is chiefly concerned with establishing the comparability (European Union) / or similarity (USA) of the biosimilar to the originator and confirmation of similarity, which relies on detailed analytics looking at physiochemical, structural and biological potency attributes. This process is followed by appropriate preclinical and clinical trials and associated pharmacokinetics, immunogenicity, and pharmacodynamics bioanalysis supporting comparative safety and efficacy studies. Therefore, it is expected to further drive the market studied over the forecast period.
Hence, these aforementioned factors are expected to propel the market over the forecast period.
North America is expected to dominate the market due to increased investments and initiatives by public and private organizations. The United States pharmaceutical industry has been one of the leaders in developing new medicines, and Pharmaceutical Research and Manufacturers of America (PhRMA) member companies continue to be at the forefront. The increasing funding from the United States government for supporting healthcare is an attributing factor to the growth of the market in the United States. For instance, the Congressional Budget Office,2021, published that federal funding for the National Institute of Health (NIH) in the past few decades has totaled over USD 700 billion. In August 2020, Toronto-based BioPharma Services, Inc. announced that it had acquired a list of validated assays from Bioanalytical Laboratory Services (BLS). BLS assets will be combined with BioPharma's existing Bioanalytical Lab to further expand and improve its products and become a global leader in clinical research. Rising healthcare expenditure has been fueling the market growth. For instance, as per the data published by Organization for Economic Co-operation and Development (OECD) in 2021, Mexico healthcare expenditure represented 6.2% of its Grodd Domestic Product (GDP). Owing to this reason, pharmaceutical companies are shifting to discover novel therapies which require during their development. This approach is expected to affect pharmaceutical production positively in Mexico, thus driving the market.
Therefore, the above-mentioned are expected to boost the market's growth in the forecast period.
The market is partially fragmented and consists of several major players. Some companies currently dominating the market are Alexanderwerk, Anchor Mark Pvt Ltd, Syntegon Technology GmbH, GEA Group, and HOSOKAWA MICRON B.V., among others.