DUBLIN, March 11, 2019 /PRNewswire/ -- The "Pharmaceutical Processing Seals Market by Material (Metals, PTFE, Nitrile Rubber, Silicone, EPDM), Type (O-Ring Seals, Gaskets, Lip Seals, D Seals), Application (Manufacturing Equipment), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The pharmaceutical processing seals market is estimated to be USD 1.8 Billion in 2018 and is projected to reach USD 2.4 Billion by 2023, at a CAGR of 6%.
Capacity expansion and constant innovation in the pharmaceutical industry are expected to drive the demand for pharmaceutical processing seals. North America is the major consumer of pharmaceutical manufacturing equipment; the presence of a strong healthcare sector in the region is driving the pharmaceutical industry and thus, boosting the market for pharmaceutical processing seals.
The high demand for new and improved equipment with greater stability and performance used in pharmaceutical manufacturing is likely to generate a positive impact on the growth of the pharmaceutical processing seals market. This overall growth in the demand for pharmaceutical manufacturing equipment is expected to drive the pharmaceutical processing seals market.
O-rings accounted for the largest market share in pharmaceutical processing seals market
O-rings accounted for the largest market share in the pharmaceutical processing seals market. O-rings are used in pharmaceutical equipment used during the manufacturing of pharmaceutical drugs. The increasing demand for pharmaceutical processing seals is driven by the growth of the pharmaceutical manufacturing sector.
The factors contributing to the growth of the pharmaceutical sector, globally are increasing incidences of chronic diseases and lifestyle diseases, growing elderly population, and improved healthcare system. O-rings are used in applications such as cryogenic, bioprocessing, and others. The type of equipment, which highly consumes O-rings are agitators and hydraulic cylinders, the huge consumption of which, is expected to drive the pharmaceutical processing seals market, globally.
Silicone is the fastest-growing material for pharmaceutical processing seals
Silicone is estimated to be the fastest-growing material for pharmaceutical processing seals between 2018 and 2023. Silicone is preferred in the pharmaceutical industry due to its properties such as flexibility and stability in extreme pressure and temperature conditions, chemical inertness, and minimal bacterial growth.
Silicone is the apt material for pharmaceutical processing seals used in pharmaceutical equipment where purity and cleanliness are highly important. It is used in pharmaceutical industry for manufacturing O-rings, diaphragms, elastomer seals, and gaskets. The growth in the consumption of these seals in pharmaceutical equipment is expected to drive the market for silicone-based pharmaceutical processing seals, globally.
North America is the largest market for pharmaceutical processing seals
North America was the largest market for pharmaceutical processing seals in 2017, owing to the presence of a strong and developed pharmaceutical industry in the region. North America consists of some of the major pharmaceutical markets of the world, such as the US and Mexico. The huge production of pharmaceutical drugs in the region has boosted the pharmaceutical equipment market which has increased the demand for pharmaceutical processing seals.
Factors contributing to the increased pharmaceutical production in the region are a huge demand for generic and biosimilar drugs, huge healthcare expenditure, increasing elderly population, and a growing incidence of lifestyle diseases. The huge production and consumption of pharmaceuticals in the region are expected to drive the pharmaceutical processing seals market.
The key companies profiled in this report for the pharmaceutical processing seals market include Trelleborg AB (Sweden), Freudenberg Group (Germany), Flowserve Corporation (US), James Walker (UK), Parker Hannifin Corporation (US), Saint-Gobain S.A. (France), Garlock (US), John Crane (US), IDEX Corporation (US), and Morgan Advanced Materials PLC (UK).
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Market Segmentation
1.3.2 Regions Covered
1.4 Years Considered for the Study
2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
184.108.40.206 Key Data From Secondary Sources
2.1.2 Primary Data
220.127.116.11 Key Data From Primary Sources
18.104.22.168 Key Industry Insights
22.214.171.124 Breakdown of Primary Interviews
2.2 Market Size Estimation
2.3 Data Triangulation
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Pharmaceutical Processing Seals Market
4.2 Pharmaceutical Processing Seals Market, By Region
4.3 Pharmaceutical Processing Seals Market in North America, By Country and Application, 2017
4.4 Pharmaceutical Processing Seals Market, Developed vs Developing Countries
5 Market Overview
126.96.36.199 Increasing Demand for OTC Drugs
188.8.131.52 Increasing Instances of Chronic Diseases
184.108.40.206 Growing Preference for Refurbished Equipment
220.127.116.11 Growing Elderly Population
18.104.22.168 Growth of Pharmaceutical Manufacturing in the Emerging Economies
22.214.171.124 Increasing Overall Costs Owing to Dynamic Regulatory Measures
5.2 Porter's Five Forces Analysis
5.3 Macroeconomic Indicators
6 Pharmaceutical Processing Seals Market, By Material
6.2.1 Ability to Withstand High Pressure and Temperatures Makes Metals Ideal for Use in Pharmaceutical Processing Seals
6.3.1 Growing Markets for O-Rings and Gaskets are Driving the Demand for PTFE in Pharmaceutical Processing Seals
6.4.1 Inherent Properties of Silicone Boost Its Demand for Pharmaceutical Processing Seals
6.5 Nitrile Rubber
6.5.1 Increasing Demand for Nitrile Rubber-Based O-Rings is Due to Its Low Compression Set, High Tensile Strength, and High Abrasion Resistance
6.6.1 Resistance to Chemicals and thermal Reactions is One of the Major Properties of EPDM Driving Its Demand for Making Pharmaceutical Processing Seals
7 Pharmaceutical Processing Seals Market, By Type
7.2.1 Increasing Demand for O-Rings in the Pharmaceutical Industry is Due to their Cost-Effectiveness and Versatility
7.3.1 Increasing Demand for Pharmaceutical Manufacturing, Especially in the Developing Economies is Driving the Market for Gaskets
7.4 Lip Seals
7.4.1 Growing Pharmaceutical Industry is Driving the Market for Lip Seals
7.5 D Seals
7.5.1 Increasing Demand for New and Innovative Pharmaceutical Products is Driving the Market for D Seals
8 Pharmaceutical Processing Seals Market, By Application
8.2 Manufacturing Equipment
8.2.1 Growing Pharmaceutical Industry is Driving the Demand in the Manufacturing Equipment Segment
9 Pharmaceutical Processing Seals Market, By Region
9.2 North America
126.96.36.199 Growing Pharmaceutical Industry and Healthcare Expenditure are Driving the Us Market for Pharmaceutical Processing Seals
188.8.131.52 Growing Generic Drugs Market is Influencing the Pharmaceutical Processing Seals Market Positively in Canada
184.108.40.206 Growing Aging Population and Growth in the Biosimilar Drugs Segment are Expected to Drive the Market for Pharmaceutical Processing Seals
220.127.116.11 Increasing Aging Population and Healthcare Spending are Driving the Market for Pharmaceutical Processing Seals in China
18.104.22.168 Growing Aging Population is Triggering the Demand for Pharmaceutical Processing Seals Indirectly in Japan
22.214.171.124 as the Largest Manufacturer of Generic Drugs, India is A Prominent Market for Pharmaceutical Processing Seals
9.3.4 South Korea
126.96.36.199 Growing Market for Biosimilar Drugs is Contributing to the Market Growth of Pharmaceutical Processing Seals
188.8.131.52 Growing Middle-Class Population and Healthcare Expenditure are Driving The Market for Pharmaceutical Processing Seals
9.3.6 Rest of APAC
184.108.40.206 Growing Pharmaceutical Industry Due to Constant R&D Investments and Increasing Healthcare Expenditures are Driving The Market in Germany
220.127.116.11 Strong Pharmaceutical Manufacturing Base and Export Market are Driving The Demand for Pharmaceutical Processing Seals
18.104.22.168 Concentration of Major Pharmaceutical Companies Propels The Pharmaceutical Processing Seals Market in The Country
22.214.171.124 Growing Pharmaceutical Industry Due to The Increasing Elderly Population has Boosted The Demand for Pharmaceutical Processing Seals in The Country
126.96.36.199 Strong Healthcare System and Government Support to The Healthcare Industry are Driving The Market for Pharmaceutical Processing Seals
188.8.131.52 High R&D Spends in The Pharmaceutical Industry are Driving The Market for Pharmaceutical Processing Seals
9.4.7 Rest of Europe
9.5 South America
184.108.40.206 Growing Generic Drugs Market Drives The Demand for Pharmaceutical Processing Seals in The Country
220.127.116.11 Huge Investments in R&D Activities in The Pharmaceutical Industry and The Presence of Strong Locally-Owned Laboratories
9.5.3 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
18.104.22.168 New Government Initiatives for The Development of The Pharmaceutical Industry is Driving The Pharmaceutical Processing Seals Market in The Country
22.214.171.124 Growing Pharmaceutical Industry Due to The Development of Generic Drugs Market is Boosting The Market for Pharmaceutical Processing Seals in The Country
9.6.3 Rest of Middle East & Africa
10 Competitive Landscape
10.2 Market Ranking
10.3 Competitive Situation & Trends
10.3.1 New Product Development
10.3.3 Merger & Acquisition
10.3.4 Joint Venture
11 Company Profiles
11.2 Freudenberg Group
11.3 Flowserve Corporation
11.4 James Walker
11.5 Parker Hannifin Corporation
11.8 John Crane
11.9 Idex Corporation
11.10 Morgan Advanced Materials
11.11 Techno Ad Ltd.
11.12 Additional Company Profiles
11.12.2 Eagle Industry Co. Ltd.
11.12.3 Marco Rubber & Plastic Products Inc.
11.12.4 Precision Associates Inc.
11.12.5 Maclellan Rubber Ltd.
11.12.6 Performance Sealing Inc.
11.12.7 American High Performance Seals
11.12.8 Darcoid of California
11.12.9 Technetics Group
11.12.10 C. Otto Gehrckens GmbH & Co. KG Seal Technology
11.12.11 Vulcan Engineering Limited
11.12.12 Seals & Design Inc.
11.12.13 Wika Alexander Wiegand SE & Co. KG
11.12.14 Intec Seals
11.12.15 Etannor Sealing System
11.12.16 Canada Rubber Group Inc.
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