DUBLIN--(BUSINESS WIRE)--Sep 12, 2018--The "Pharmaceutical Storage And Material Handling Equipment Market By Type, Mode Of Operation, Product Form, And Geography - Global Forecast To 2023" report has been added to ResearchAndMarkets.com's offering.

The global pharmaceutical storage and material handling equipment market is expected to grow at a CAGR of 8.6% from 2018 to reach USD 1,597.4 million by 2023.

The factors such as rapid growth in pharmaceutical market, growing focus towards automation in pharmaceutical industry, increasing focus of manufacturers on reduction of production cost, government support to promote the pharmaceutical sector, and growing demand of single use systems are expected to propel the growth of this market. Moreover, shift towards the use of robotics and booming pharmaceutical industry in developing economies further supports the growth of this market.

The transport systems dominated the global pharmaceutical storage and material handling systems market in 2017, mainly due to the increasing use of automated and semi-automated transport systems to meet GMP standards, particularly in developed economies. This market also expected to grow significantly during the forecast period mainly due to customers' demand for smaller lot sizes; shorter lead times; and higher quality products, especially in developing countries.

Further, semi-automated pharmaceutical storage and material handling systems market commanded the largest share of global market in 2017 with huge adoption by pharmaceutical manufacturers due to their technical and economic feasibility which can be regulated manually and automatically.

North America commanded the largest share of the global pharmaceutical storage and material handling equipment market in 2017, followed by Europe and Asia-Pacific. The large share of this region mainly attributed to huge pharma manufacturing sector, high automation adoption rate in pharmaceutical industry, the innovations and advancements in bulk material handling products and technologies, and implementation of some expansions and acquisitions plans by the leading pharmaceutical storage and material handling systems manufacturers to increase the production capacity.

Scope of the Report:

Market by Types

Transport Systems Conveyor Intermediate Bulk Containers Drum Handler Others Storage Systems SilosContainers and DrumsRacking and Shelving SystemsOthers Lifting and Positioning Systems CranesHoistsLift TablesOthers Stacking and Unit Formation Systems PalletsCratesPalletizersOthers

Market by Mode of Operation

Semi-automatic Automatic Manual

Market by Product Form

Solid Liquid Semi-solid

Companies Mentioned

SERVOLiFT GmbH Mueller GmbH Hanningfield Process Systems Ltd. GEA Group Aktiengesellschaft AZO GmbH + Co. KG David Round Company, Inc FLEXICON Corporation Spirotech-SRD Group Ltd. VAC-U-MAX Dietrich Engineering Consultants S.A. Volkmann, Inc Schenck Process Holding GmbH Coperion Capital GmbH Matcon Ltd. Gough Econ, Inc Guttridge Limited Glatt GmbH For more information about this report visit https://www.researchandmarkets.com/research/jjxr4m/pharmaceutical?w=4

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Related Topics:Material Handling Equipment

KEYWORD:

INDUSTRY KEYWORD: HEALTH PHARMACEUTICAL

SOURCE: Research and Markets

Copyright Business Wire 2018.

PUB: 09/12/2018 01:12 PM/DISC: 09/12/2018 01:12 PM

http://www.businesswire.com/news/home/20180912005879/en