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Pharmaceutical Storage and Material Handling Equipment Market Trends

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

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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.

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.