Home > Healthcare > Pharmaceuticals > Pharma Manufacturing > Pharmaceutical Storage and Material Handling Equipment Market

Pharmaceutical Storage and Material Handling Equipment Market Size

Report ID: GMI6063
Published Date: Jun 2023
Report Format: PDF

Download Free Sample

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.

To get key market trends

Download Free Sample

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.

Pharmaceutical Storage and Material Handling Equipment Market Report Attributes
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:	Rising labour costs and inconveniences of employing a manual workforce in North America and Europe Growing technological innovations and the adoption of automation in pharmaceutical industry Increasing productivity in pharmaceutical sector
Pitfalls & Challenges:	High initial cost of storage and material handling equipment Lack of skilled workforce to operate storage and material handling equipment

Learn more about the key segments shaping this market

Download Free Sample

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.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Pharmaceutical storage and material handling equipment industry share reached USD 4.2 billion in 2022 and will record USD 7.7 billion by 2032 due to the rising focus on automation across the pharmaceutical sector.

The solid dosage form segment exceeded USD 1.7 billion in 2022 driven by the increasing intake of tablets.

North America recorded over 22% of the pharmaceutical storage and material handling equipment market share in 2022 due to the presence of developed supply chain structure and stable economic conditions in the region.

Muller Group, GEA Group Aktiengesellschaft, Hanningfield Process Systems Ltd, and Servolift GmbH are some of the prominent pharmaceutical storage and material handling equipment industry players.