Pharmaceutical Storage and Material Handling Equipment Market Analysis

Pharmaceutical Storage and Material Handling Equipment Market Analysis

By product, the pharmaceutical storage and material handling equipment market is classified into transport systems, storage systems, lifting and positioning systems and stacking and unit formation systems. The transport systems segment accounted for 32.4% of the market share in 2022 and is projected to witness robust growth over the analysis timeframe. High segmental growth is owing to increasing demand for efficient and reliable material transport solutions. The transport system consists diverse range of products such as conveyor systems, autonomous mobile robot systems among others. These systems offer operational efficiency, enhanced product safety and integrity, streamlined inventory management, reduced labour costs and enables to adhere various regulatory compliance.
 

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.
 

Based on sales channel, the pharmaceutical storage and material handling equipment market is segmented into manufacturers and distributors. The manufacturers segment is expected to register USD 5.3 billion by 2032.  Manufacturers are focused on high-end material handling equipment with advanced features and technologies. For instance, in February 2023, Dorner launched DCMove Belted Conveyor, a new conveyor for material handling and storage applications. The conveyor comprises feature & specifications including a wide load capacity and a motor mounted inside the conveyor tails to lower the footprint of large material handling systems. Thus, adoption of various advanced storage and material handling equipment by the manufacturers enables to maximize storage capacity and optimize inventory management effectively, thereby supplementing the market expansion.
 

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.
 

The dosage form in pharmaceutical storage and material handling equipment market is categorized into solid, liquid and semi-solid. Solid segment accounted for over USD 1.7 billion market revenue in 2022. Solid form of dosage encompasses tablets and capsules that are easy to store and handle as compared to other dosage forms. Solid dosage forms are chemically and physically more stable and are less susceptible to temperature fluctuations and contamination risks, making them easier to store and handle. Also, appropriate storage system offers controlled environments, such as humidity-controlled cabinets to safeguard against moisture and contaminants thus, preserving the quality of solid medications.
 

North America pharmaceutical storage and material handling equipment market accounted for over 22% business share in 2022 and is anticipated to grow at considerable growth rate during the forecast timeframe. Increasing market growth can be attributed to the developed supply chain structure and stable economic conditions favoring the adoption of the latest advanced technologies. Developments in the fields of robotics, electronics, and IoT in the region are further supporting the implementation of the latest technology. Additionally, high cost of labor in the North America region is expected to increase the demand for storage and material handling equipment, thereby significantly contributing to the North America market progress.