Pharmaceutical Storage and Material Handling Equipment Market - By Product (Transport Systems {Conveyors}, Storage Systems), Sales Channel (Manufacturers), Mode of Operation (Automatic, Semi-automatic) Dosage Form (Solid, Semi-solid) & Forecast 2023 - 2032
Published Date: August - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationPharmaceutical Storage and Material Handling Equipment Market - By Product (Transport Systems {Conveyors}, Storage Systems), Sales Channel (Manufacturers), Mode of Operation (Automatic, Semi-automatic) Dosage Form (Solid, Semi-solid) & Forecast 2023 - 2032
Pharmaceutical Storage and Material Handling Equipment Market Size
Pharmaceutical Storage and Material Handling Equipment Market size accounted for USD 4.2 billion in 2022 and is estimated to grow at 6.3% to reach USD 7.7 billion by 2032. Increasing focus on automation in pharmaceutical industry is one of the key factors for growing the demand for pharmaceutical storage and material handling equipment.
Also, as pharmaceutical industry is expanding at rapid pace, the growing need for automation, for efficiently handling from stocking up inventory to finished goods will significantly propel the market expansion. Further, rising technological advancements are encouraging key market players to offer energy-efficient material handling systems, thereby driving the market development.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Pharmaceutical Storage and Material Handling Equipment Market Size in 2022 | USD 4.2 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 6.3% |
| 2032 Value Projection | USD 7.7 Billion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 250 |
| Tables, Charts & Figures | 488 |
| Segments covered | Product, Sales Channel, Mode of Operations, Dosage Form and Region |
| Growth Drivers |
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| Pitfalls & Challenges |
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Pharmaceutical storage and material handling equipment refers to a wide range of specialized tools, devices, and systems used in the pharmaceutical industry for the storage, handling, and transportation of pharmaceutical products, raw materials and components. These equipment and systems are designed to meet the unique requirements and regulations of the pharmaceutical sector, ensuring the integrity, safety and quality of the stored and transported materials. The primary goal of adopting a pharmaceutical storage and material handling system is to ensure that the correct amount of material is delivered to the desired location at the right time.
COVID-19 Impact
The outbreak of COVID-19 pandemic had a negative impact on the pharmaceutical storage and material handling equipment market, as the pandemic was noted to have disrupted the healthcare system worldwide, causing significant delays in diagnosis and treatment of non-emergency disease conditions. With the increasing number of COVID-19 cases, several local and national regulatory bodies-imposed lockdowns, restricting the movement of people and goods. The imposed lockdowns largely affected the company’s operations while also hindering the overall market’s supply chain, resulting in the delayed and limited supply of finished goods to end users.
However, in the initial quarter of 2021 the market witnessed considerable surge in the demand for pharmaceutical storage and material handling equipment owing to growing demand for vaccines and medication to control and contain the spread of COVID-19 infection, thereby propelling the market trends.
Pharmaceutical Storage and Material Handling Equipment Market Trends
In North America and Europe, the cost of manual labour is experiencing substantial growth. For instance, according to the Eurostat, in 2022, average hourly labour costs was estimated at USD 32.5 t0 USD 35.8 in the European countries. Similarly, according to the U.S. Department of Labours, in 2022, the unit labour cost in the pharmaceutical industry increased by 8.3% as compared to 2021 in the U.S. Thus, the high labour cost is significantly propelling the demand for automated storage and material handling equipment.
Pharmaceutical Storage and Material Handling Equipment Market Restraint
Buying and maintaining material handling equipment can put a big dent in your wallet, which is slowing down the industry's growth. The price of the equipment varies depending on how much it can handle, what kind of tires it has, and what it uses for fuel. For example, an electric forklift can cost up to 50% more than a traditional gas-powered one. This makes it hard for small and medium-sized businesses and manufacturers to buy and use energy-efficient equipment. Electric forklifts also need special hardware, software, and technology, which can add a lot to the overall cost. And on top of that, material handling equipment needs regular checkups and maintenance to keep it running smoothly, which can also be expensive.
Pharmaceutical Storage and Material Handling Equipment Market Analysis
The equipment used for storing and moving materials in the pharmaceutical industry can be divided into these categories1. Systems for Transport These systems move materials around, and they made up 32.4% of the market in 2022. They're expected to grow a lot in the future because companies need better ways to move materials efficiently and safely. This category includes things like conveyor belts, robots, and other equipment. 2. Storage Systems These systems store materials, and they come in different shapes and sizes. They're important for keeping products safe and organized, and they help companies save space and improve efficiency. 3. Lifting and Positioning Systems These systems help move materials up and down or into different positions. They're important for tasks like loading and unloading materials or adjusting their position for processing. 4. Stacking and Unit Formation Systems These systems organize and arrange materials in a specific way, such as stacking boxes on top of each other. They're important for optimizing space and improving efficiency in storage and transportation.
Furthermore, integration of advanced technologies such as IoT, artificial intelligence (AI) for transportation systems enable to improve factors such as route optimization, load balancing amongst others will lead to minimal damage and cost savings, thereby fostering the market share.
When it comes to how pharmaceutical companies get their storage and handling gear, you've got two main optionsthe manufacturers themselves or distributors. The folks making it all happen, the manufacturers, are predicted to make a whopping 5.3 billion dollars by 2032. They're putting their focus on fancy equipment with bells and whistles, like the DCMove Belted Conveyor Dorner rolled out in February 2023. It's got a big appetite for materials, and its motor's tucked inside to save space in those massive warehouses. By using these cutting-edge gadgets, manufacturers can cram in more stuff and keep track of it all without breaking a sweat. That's why the market's on the up and up!
By mode of operation, the pharmaceutical storage and material handling equipment market is segmented into automatic operation, manual operation and semi-automatic operation. The semi-automatic operation segment accounted for significant market revenue in 2022 and is expected to grow at 6.2% during the forecast period. The semi-automatic mode enables human intervention while offering effective control by leveraging automation for repetitive and heavy-duty tasks. This mode offers greater flexibility and adaptability to accommodate varying product type, sizes, and quantities.
Moreover, incorporating semi-automation in pharmaceutical companies can improve productivity and reduce labour costs by minimizing manual handling and streamlining workflow, thereby driving the market growth.
In the world of pharmaceuticals, medicines come in different formssolid, liquid, and semi-solid. Solid forms are like tablets and capsules, which are popular for a few good reasons. First, they're easy to stash and move around compared to other types. Second, they're pretty stable, meaning they don't react easily to changes in temperature or get contaminated as much. To keep these solid medicines in tip-top shape, special storage systems are used. Think of it as a controlled environment, like a fancy cabinet that keeps out moisture and other nasties, so the meds stay safe and effective.
Hey there! So, the pharmaceutical storage and equipment market in North America has been doing really well, making up over 22% of the global market in 2022. And guess what? It's only going to keep growing in the years to come! This growth is being fueled by a few things. First, the supply chain in North America is super developed, which makes it easy for companies to get the supplies they need. Second, the economy is stable, which makes it easier for companies to invest in new technologies. And third, there's been a lot of progress in robotics, electronics, and the Internet of Things (IoT) in the region, which is making it possible for companies to use the latest and greatest equipment. On top of all that, the cost of labor in North America is pretty high, which is making companies more likely to invest in storage and equipment that can automate tasks. So, overall, the future's looking bright for the North American pharmaceutical storage and equipment market!
Pharmaceutical Storage and Material Handling Equipment Market Share
Major market players operating in pharmaceutical storage and material handling equipment market include
- Muller Group
- GEA Group Aktiengesellschaft
- Hanningfield Process Systems Ltd
- Servolift GmbH
These industry players majorly adopt various strategies including collaborations, acquisitions, mergers, and partnerships to create a global footprint and sustain market competition.
Pharmaceutical Storage and Material Handling Equipment Industry News
- In September 2022, FlexLink expanded its offerings of developed palletizing cells by adding RC12 and RC14 to the original RC10. The new robotic arms provide a higher payload capability of up to 12 kilograms as well as larger box sizes and pallet heights. They also enable faster relocations without any additional lifting devices. This strategy helped the company to enhance it product portfolio and increase customer base.
- In June 2022, Universal Robots launched UR20, a new 20kg cobot. The cobot possesses an entirely new joint design that allows for faster cycle times and capability to handle heavier loads. It has a 1,750mm reach designed to work to the full height of the standard Euro-pallet to modify the way businesses pack. This strategy helped the company to enhance its product offering thereby drive revenue growth.
The pharmaceutical storage and material handling equipment market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032, for the following segments
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By Product
- Transport Systems
- Conveyors
- Autonomous Mobile Robots
- Intermediate Bulk Containers (IBC)
- Other transport systems
- Storage Systems
- Racks
- Stacking frames
- Shelves, bins and drawers
- Mezzanines
- Other storage systems
- Lifting and Positioning Systems
- Hoists
- Lift Tables
- Cranes
- Robotic Arm
- Other lifting and positioning systems
- Stacking and Unit Formation Systems
- Stackers
- Crates
- Palletizers
- Other stacking and unit formation systems
Sales Channel
- Manufacturers
- Distributors
Mode of Operation
- Automatic Operation
- Manual Operation
- Semi-automatic Operation
Dosage Form
- Solid
- Liquid
- Semi-solid
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of MEA
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