Pharmaceutical Processing Machinery Market to Reach US$ 14.03 Billion by 2031: Growth Plus Reports - News

The global pharmaceutical processing machinery market is expected to develop at a 4.5 percent CAGR, from US$ 9.30 billion in 2022 to US$ 14.03 billion by 2031, according to a deep-dive market assessment study conducted by Growth Plus Reports. The relevance of high-quality pharmaceutical machinery in assuring product quality and FDA regulation, as well as the role of automation in growing revenue while adhering to good manufacturing practices, is highlighted in the report. The study also highlights the role of stringent regulatory approval procedures, rising generics demand, and small molecule patent expirations in promoting the rise of contract manufacturing in the pharmaceutical sector. 
Due to lesser pricing pressures in the pharmaceutical sector, CMOs have established companies in India, China, Singapore, South Korea, and Malaysia, and the Indian Government provides soft funding to support CMO manufacturing units in India. According to the estimate, the Indian pharmaceutical industry will generate annual revenue of US$ 80-90 billion by 2030. 
The time-consuming process of sterilizing, cleaning, and validating machinery, and its components, particularly during changeovers, has impacted working efficiency and may limit the pharmaceutical processing machinery market during the projection period, according to the study. The report divides the market by mode of delivery into oral formulation, parenteral formulations, topical formulations, and other formulations, with oral formulation likely to dominate over the forecast period.