PUBLISHER: The Insight Partners | PRODUCT CODE: 1226859
PUBLISHER: The Insight Partners | PRODUCT CODE: 1226859
The Europe pharmaceutical fluid handling market is expected to grow from US$ 2,903.07 million in 2022 to US$ 3,792.49 million by 2028. It is estimated to grow at a CAGR of 4.6% from 2022 to 2028.
Growing Adoption of Single-Use-Systems (SUS) in Pharmaceutical Industry Boosts Europe Pharmaceutical Fluid Handling Market Growth
In pharmaceutical and bio pharmaceutical product manufacturing, contamination prevention is a crucial part of the process. The proper handling and storage of fluids are essential to limit the possibility of contamination. Facility layout helps determine the method used by companies to handle fluid transfer and storage. The growing adoption of single-use systems (SUS) reduces product cross-contamination and eliminates the need for cleaning between batches, hence improving efficiency. The SUSs are made in a clean room; they are double bagged, and gamma, ethylene oxide, or x-ray methods are used to ensure a sterile system for every batch. During the development of several pharmaceutical products such as vaccines, monoclonal antibodies, and personalized medicines-SUS is used as it offers a faster, simpler, and less expensive manufacturing process. Due to the rising prevalence of chronic diseases, there is a growing demand for effective drugs and products. Hence, companies are increasingly opting for SUS because it enhances the efficiency of processes and reduces costs related to cleaning, sterilization, and maintenance. In addition, low risk of contamination and low water consumption are a few factors supporting the pharmaceutical fluid handling market growth. The market growth is also attributed to increased company activities and rapid adoption of various business strategies such as collaborations, partnerships, and product launches. Thus, the increased use of SUS in the production and transfer of sterile fluids is driving the growth of the Europe pharmaceutical fluid handling market.
Europe Pharmaceutical Fluid Handling Market Overview
The Europe pharmaceutical market is segmented into Germany, the UK, France, Italy, Spain, and the Rest of Europe. The region holds a significant market share in the pharmaceutical fluid handling market. The European pharmaceutical fluid handling market is expected to witness significant growth during the forecast period due to factors such as growing research and development activities, rising prevalence of chronic diseases, growing geriatric population, and expanding pharmaceutical industry. Further, Germany dominated the Europe pharmaceutical fluid handling market. According to Germany Trade & Invest (GTAI), the German pharmaceutical industry is one of the world's leading clinical trial locations and is one of the top innovation locations in Europe based on R&D investment and patent application levels. According to the same the source, the Germany pharmaceutical market revenue reached EUR 46.4 billion, which is an increase of 5.7% in 2019. The country is one of the top pharmaceutical producers and the second-leading country in the export of medicinal products across the world. According to Germany's Federal Statistics Office (Destatis), pharmaceutical exports increased 14.3% Y-o-Y to EUR 22.1 billion (US$ 25.3 billion) from March to May 2020. According to the European Union (EU), Germany produces the second-most active bio pharmaceuticals. Several pipeline drugs are expected to be commercialized during the forecast period, which is likely to boost the growth of the pharmaceutical fluid handling market. Many key players are developing new drugs due to the rising number of cancer cases across the region. Further, the market is expected to grow as research initiatives are intensified to develop novel drugs to treat different viruses. A strong presence of bio pharmaceutical companies, academic and research institutions, as well as clinical research organizations (CROs) has led to extensive R&D activities in the country. Thus, increasing drug discovery and research activities in Germany is a major factor driving the growth of the pharmaceutical fluid handling market.
Europe Pharmaceutical Fluid Handling Market Revenue and Forecast to 2028 (US$ Million)
Europe Pharmaceutical Fluid Handling Market Segmentation
The Europe pharmaceutical fluid handling market is segmented into offering, tubing, application, usage, end user, and country. Based on offering, the pharmaceutical fluid handling market is segmented into equipment & solutions and services. The equipment segment registered a larger market share in 2022.
Based on tubing, the Europe pharmaceutical fluid handling market is segmented into TPE, PVC, and silicon. The silicon segment registered the largest market share in 2022.
Based on application, the Europe pharmaceutical fluid handling market is segmented into fluid handling and management, fluid preparation, integration and automation, aseptic processing, buffer management, and others. The fluid handling and management segment registered the largest market share in 2022.
Based on usage, the Europe pharmaceutical fluid handling market is segmented into cough syrup, intravenous products, complex active pharmaceutical ingredients (APIs), and others. The intravenous products segment registered the largest market share in 2022.
Based on end user, the Europe pharmaceutical fluid handling market is segmented into biotechnology companies, pharmaceutical and medical companies, and others. The biotechnology companies segment registered the largest market share in 2022.
Based on country, the Europe pharmaceutical fluid handling market is segmented into Germany, the UK, France, Italy, Spain, and the Rest of Europe. Germany registered the largest market share in 2022.
Australian Fluid Handling Pty Ltd, CIRCOR International Inc, Danaher Corp, Fraser Ross Ltd, Merck KGaA, Parker Hannifin Corp, RAUMEDIC AG, Rochling SE & Co KG, Spirax Sarco Engineering plc, and Tef Cap Industries Inc are the leading companies operating in the Europe pharmaceutical fluid handling market.