PUBLISHER: The Business Research Company | PRODUCT CODE: 1392827
PUBLISHER: The Business Research Company | PRODUCT CODE: 1392827
“Pharmaceutical Processing Seals Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on pharmaceutical processing seals market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for pharmaceutical processing seals? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The pharmaceutical processing seals market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The information provided suggests that pharmaceutical processing seals refer to seals used on process-connected equipment to prevent the migration of flammable or combustible process fluids.
The main types of pharmaceutical processing seals include O-rings, gaskets, lip seals, D seals, and others. O-ring seals, for example, are used to prevent leaks from pumps, valves, cylinders, and connectors in pharmaceutical processing equipment. Various materials, including metals, PTFE, silicone, nitrile rubber, EPDM, among others, are utilized in these seals, and they find applications in manufacturing equipment, agitators, mixers, reactors, gearboxes, and other equipment.
The pharmaceutical processing seals market research report is one of a series of new reports from The Business Research Company that provides pharmaceutical processing seals market statistics, including pharmaceutical processing seals industry global market size, regional shares, competitors with a pharmaceutical processing seals market share, detailed pharmaceutical processing seals market segments, market trends and opportunities, and any further data you may need to thrive in the pharmaceutical processing seals industry. This pharmaceutical processing seals market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The pharmaceutical processing seals market size has grown strongly in recent years. It will grow from $2. 26 billion in 2023 to $2. 48 billion in 2024 at a compound annual growth rate (CAGR) of 9. 8%. The expansion witnessed in the historical period can be attributed to various factors, including heightened pharmaceutical manufacturing activities, growth in biopharmaceutical production, a concentrated effort on contamination prevention in manufacturing processes, an increased demand for pharmaceutical products, and the continual evolution of drug formulations.
The pharmaceutical processing seals market size is expected to see strong growth in the next few years. It will grow to $3. 6 billion in 2028 at a compound annual growth rate (CAGR) of 9. 8%. The anticipated growth in the forecast period can be ascribed to several factors, including an escalating demand for specialized biopharmaceutical products, the adoption of advanced manufacturing and processing techniques, the global expansion of pharmaceutical production facilities, a focus on quality and compliance in pharmaceutical manufacturing, and a surge in investment in research and development within the pharmaceutical sector. Significant trends expected in the forecast period encompass advancements in pharmaceutical processing technologies, the integration of single-use systems in pharmaceutical processing, the development of high-performance and customized sealing solutions, a shift towards sustainability and green manufacturing practices, and the application of smart seals and IoT technologies.
The growth of the pharmaceutical processing seals market is significantly influenced by the increasing prevalence of chronic diseases. Chronic diseases, characterized by lasting three months or more and often deteriorating over time, include conditions such as diabetes, cardiovascular diseases, and various cancers. The long-term treatment and management required for these diseases contribute to a rising global demand for pharmaceuticals. To meet this demand, pharmaceutical companies must enhance their production and distribution, relying on a diverse range of pharmaceutical processing seals. These seals play a crucial role in maintaining product integrity, preventing contamination, and ensuring the safety and efficacy of pharmaceuticals. An estimate by the National Center for Biotechnology Information (NCBI) suggests that the global population with chronic diseases is projected to reach 142. 66 million by 2050, up from 71. 522 million in 2020, underscoring the driving force of chronic diseases in the pharmaceutical processing seals market.
The pharmaceutical processing seals market is expected to experience growth due to the increasing expenditure on healthcare. The growing investment in healthcare translates to a heightened demand for pharmaceutical products, leading to expanded production facilities and, consequently, an increased need for pharmaceutical processing equipment, including seals. This ensures the maintenance of product quality and safety. The surge in healthcare spending also fuels research and development efforts, particularly in the production of biopharmaceuticals and specialty medications, necessitating specialized processing equipment and seals. Notably, according to the Centers for Medicare & Medicaid Services, prescription drug spending rose by 7. 8% in 2021, reaching $378. 0 billion, reflecting a faster growth rate compared to the 3. 7% increase recorded in 2020. The rise in healthcare spending is a driving force behind the growth of the pharmaceutical processing seals market.
Technological advancements are shaping the landscape of the pharmaceutical processing seals market. Key companies in the sector are committed to developing innovative technological solutions to meet consumer demands and enhance their market position. An example is the launch of the Evolution S by Crawford Packaging, a UK-based packaging machines company, which introduced advanced tray sealing technology manufactured by Packaging Automation Ltd. This technology sets a new standard for precision and fast sealing rates while optimizing the necessary footprint in a single lane configuration.
Major players in the pharmaceutical processing seals market are actively involved in product development to gain a competitive advantage. Product innovations in pharmaceutical processing seals involve the creation of advanced sealing solutions, materials, or technologies that enhance the safety, efficiency, and quality of pharmaceutical manufacturing processes and equipment. West Pharmaceutical Services, Inc., a US-based pharmaceutical company, introduced Gamma Irradiated Flip-Off seals in India and the Asia Pacific markets. These seals are designed to provide consistent machinability, maintain container closure integrity, and improve the user experience for pharmaceutical and biopharmaceutical manufacturers.
In April 2021, DXP Cortech, a US-based distributor of pumps and process equipment, entered into a partnership with John Crane for an undisclosed amount. Through this collaboration, DXP Cortech will serve as a distributor for John Crane products in the California region and extended west coast markets. This partnership aims to enhance customer service and expand operations for both companies. John Crane is a US-based company specializing in manufacturing pharmaceutical processing seals, filtration systems, couplings, and packing systems.
Major companies operating in the in the pharmaceutical processing seals market report are Trelleborg AB, Freudenberg SE, Flowserve Corporation, James Walker & Co. Ltd., Parker-Hannifin Corporation, Compagnie de Saint-Gobain SA, Garlock Sealing Technologies LLC, John Crane Inc., IDEX Corporation, Marco Rubber & Plastic Products Inc., Technetics Group LLC, Sealmatic India Pvt. Ltd., Maffs Seals Pvt. Ltd., Quantech Sealing Systems, EagleBurgmann India Pvt. Ltd., Morgan Advanced Materials plc, Bal Seal Engineering Inc., Apple Rubber Products Inc., PPE Precision Polymer Engineering Inc., Minnesota Rubber and Plastics, Greene Tweed & Co., ElringKlinger Kunststofftechnik GmbH, Parco Inc., Seal & Design Inc., Hi-Tech Seals Inc., Eclipse Engineering Inc., Techno Ad Ltd., A. W. Chesterton Company, M&C TechGroup Germany GmbH, Meccanotecnica Umbra SpA, Vee Packings Inc., Arizona Sealing Devices Inc., CinchSeal Inc., Flexitallic Group, Hennig Gasket & Seals Inc.
North America was the largest region in the pharmaceutical processing seals market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pharmaceutical processing seals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the pharmaceutical processing seals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The pharmaceuticals processing seals market consists of sales of glass-to-metal seals, bodok seal, and a specialized gas sealing washer. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.