The global pharmaceutical processing seals market is expected to reach USD 2.78 billion by 2026, according to a new report from Reports and Data. The standard for pharmaceutical processing seals is quite high, due to the requirement for cleanliness and hygiene. Strict legal guidelines and purity requirements must always be implemented.
Seals come into direct contact with a different variety of fluids at fluctuating pressures and temperatures; thus, they must be completely free from dangers and side effects. Not only must they imperatively prevent process changes or product contamination, but they must also not alter the active agents through interactions or the transfer of sealing components.
The high demand for new and improved equipment with higher stability and performance used in pharmaceutical manufacturing is expected to generate a positive impact on the market growth.
North America held a market share of 31.5% in 2018. Huge consumption and high demand for innovative and new medicines owing to established healthcare companies are driving the market growth in the region. Rising consumption of pharmaceutical manufacturing equipment is in turn expected to propel the pharmaceutical processing gaskets market in the region.
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Other key findings from the report suggest:
- O-rings held a 34.2% market share in 2018. They provide the designer with an efficient and cost-effective sealing element for a wide range of dynamic applications. The production methods for these rings are inexpensive and the ease of application makes them the most commonly used treatment gasket.
- Manufacturing equipment is expected to grow with a CAGR of 5.9% over the forecast period. This equipment is used in the pharmaceutical industry for the production of pharmaceutical compounds. The growth of the healthcare industry due to the increase in population and the rising incidence of chronic diseases and the increase in healthcare expenditure is increasing the demand for manufacturing equipment.
- Metals are typically used for pharmaceutical processing due to their ability to withstand extreme temperatures and pressures, chemical reactions, and the non-reactivity of processing fluids. They are also resistant to toxic chemicals and prevent contamination and leaks. Metals held the largest market share of 25.6% in 2018.
- The Asia-Pacific region is expected to grow with a CAGR of 6.0% during the forecast period. Growth in healthcare industry coupled with high demand for over-the-counter medicines is driving the market in the region. Favorable rules and regulations of governments in the Asia-Pacific region have also encouraged the growth of the market.
The report also focuses on the details of each market player including their global position, financial position, revenue generation, company overview, product and service portfolio. The Pharmaceutical Processing Seals Market is highly competitive and consists of several key players at regional and global level. The major players are focusing on adopting various strategies such as new product launches, mergers and acquisitions, R&D investments, partnerships, joint ventures and collaborations to strengthen their market position and improve their product portfolio. products.
Major companies operating in the market are:
Saint-Gobain, Flowserve Corporation, Garlock, Idex Corporation, Techno Ad Ltd., Trelleborg, Parker Hannifin Corporation, Morgan Advanced Materials, Marco Rubber & Plastic Products Inc., and Technetics Group, among others.
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The report also offers detailed information on market segmentation based on type, application and regional bifurcation:
Pharmaceutical Processing Seals Market Segmentation:
Type Outlook (Volume: Kilo Tons; Revenue: Billion USD; 2016-2026)
- Lip seals
Material Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2016-2026)
- Nitrile rubber
Application Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2016-2026)
- Manufacturing equipment
- North America
- The rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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