New York, March 31, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Pharmaceutical Processing Seals Global Market Report 2023" - https://www.reportlinker.com/p06233735/?utm_source=GNW
, Quantech Sealing Systems, and EagleBurgmann India Pvt. Ltd.
The global pharmaceutical processing seals market grew from $2.04 billion in 2022 to $2.26 billion in 2023 at a compound annual growth rate (CAGR) of 10.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The pharmaceutical processing seals market is expected to grow to $3.12 billion in 2027 at a CAGR of 8.4%.
The pharmaceuticals processing seals market consists of sales of glass-to-metal seals, bodok seal, and a specialized gas sealing washer.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Pharmaceutical processing seals refers to a seal that is used on process-connected equipment that is designed to be linked to an external system that contains process fluids in order to stop flammable or combustible process fluids from migrating into the wire system in non-hazardous zones or other classed locations.
North America was the largest region in the pharmaceutical processing seals market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the pharmaceutical processing seals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of pharmaceutical processing seals are O-rings, gaskets, lip seals, D seals, and others.O-ring seals are used to prevent leaks from pumps, valves, cylinders, and connectors used in pharmaceutical processing.
The different materials include metals, PTFE, silicone, nitrile rubber, EPDM, and others and are used in various applications such as manufacturing equipment, agitators, mixers, reactors, gearboxes, and others.
The rise in chronic diseases is significantly contributing to the growth of the pharmaceutical processing seals market.Chronic diseases are defined as conditions that last more than a year and require ongoing medical care; they are global, national health issues that involve mortality and morbidity.
These include heart disease, cancer, and diabetes.The rise in chronic diseases is driving up demand for pharmaceuticals, which in turn is driving up demand for pharmaceutical processing seals.
For instance, according to the International Diabetes Federation, in 2021, 537 million adults are suffering from diabetes worldwide, which is a huge increase compared to 463 million adults living with diabetes in 2019.
Technological advancements are shaping the pharmaceutical processing seals market.Major companies operating in the pharmaceutical processing seals sector are focused on developing new technological solutions to meet consumer demand and strengthen their position.
For instance, in November 2021, Crawford Packaging, a UK-based packaging machines company launched Evolution S, the top seal packaging technology machinery with an advanced tray sealing solution manufactured by Packaging Automation Ltd. Evolution S - Packing Automation has developed the world’s most efficient tray sealing technology, raising the bar for precision and fast sealing rates while decreasing the packaging area’s necessary footprint in a single lane configuration.
In April 2021, DXP Cortech, a US-based distributor of pumps and process equipment has partnered with John Crane for an undisclosed amount.Through this partnership, DXP Cortech will act as a distributor for John Crane products in the California region and the extended west coast markets.
It will also enable both businesses to better service their customers and expand their operations. John Crane is a US-based company that manufactures pharmaceutical processing seals, filtration systems, couplings, and packing systems.
The countries covered in the pharmaceutical processing seals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The pharmaceutical processing seals market research report is one of a series of new reports that provides pharmaceutical processing seals market statistics, including pharmaceutical processing seals industry global market size, regional shares, competitors with a pharmaceutical processing seals market share, detailed pharmaceutical processing seals market segments, market trends and opportunities, and any further data you may need to thrive in the pharmaceutical processing seals industry. This pharmaceutical processing seals market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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