Pharmaceutical Processing Seals Market to surpass USD 2.78 Billion by 2026
The global pharmaceutical processing seals market is forecast to reach USD 2.78 Billion by 2026, according to a new report by Reports and Data. The standard for pharmaceutical processing seals is quite high, owing to the demand for cleanliness and hygiene. Strict legal guidelines and purity requirements always need to be implemented.
Seals
come in direct contact with a different variety of media at fluctuating
pressures and temperatures; thus, they must be completely free of hazards and
side effects. Not only should they unfailingly prevent process changes or
product contamination, but they must also not impair any 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 anticipated to generate a positive
impact on the growth of the market.
North
America held a market share of 31.5% in the year 2018. Huge consumption and
high demand for innovative and new pharmaceutical drugs owing to the
established healthcare companies are boosting the market growth in the region.
Rising consumption of pharmaceutical manufacturing equipment in turn is
expected to propel the market for pharmaceutical processing seals in the
region.
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Further key findings from the report suggest
- O-Rings held a
market share of 34.2% in the year 2018. It offers the designer an efficient
and economical sealing element for a wide range of dynamic applications.
The production methods of these rings are inexpensive, and the ease of
application makes it the most commonly used processing seal.
- Manufacturing
equipment is forecasted to grow with a CAGR of 5.9% during the forecast
period. These equipments are used in the pharmaceutical industry for the
production of pharmaceutical compounds. Growth of the healthcare industry
due to the rising population and growing incidences of chronic diseases
and rising expenditure in healthcare are increasing the demand for
manufacturing equipment.
- Metals are
generally used for pharmaceutical processing due to their ability to
withstand extreme temperature and pressure, chemical reactions,
non-reactiveness from process fluids. They are also resistant to toxic
chemicals and prevent contamination and leakage. Metals held the largest
market share of 25.6% in the year 2018.
- Asia Pacific
is forecasted to grow with a CAGR of 6.0% during the forecast period. The growing
healthcare sector, coupled with high demand for over the counter drugs,
are driving the market in the region. Favorable rules and regulations by
the governments in the Asia Pacific region have also encouraged market
growth.
- Key
participants 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.
- The Trelleborg
expanded its sealing solution division of the company in Germany. The
innovation center in Stuttgart opened on November 2018, and is dedicated
for the R&D of sealing materials, and joint development projects with
the company’s customers.
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For
the purpose of this report, Reports and Data have segmented into the global
Pharmaceutical Processing Seals market on the basis of type, material,
application, and region:
Type Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2016-2026)
- O-Rings
- Gaskets
- Lip Seals
- D Seals
- Others
Material Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2016-2026)
- Metals
- PTFE
- Silicone
- Nitrile Rubber
- EPDM
- Others
Application Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2016-2026)
- Manufacturing
Equipment
- Others
Regional Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2016-2026)
- North America
- U.S.
- Europe
- UK
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
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