Report : Asia-Pacific Pharmaceutical Fluid Handling Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Offering (Equipment and Solution & Services), Tubing (TPE, PVC, and Silicone), Application (Fluid Handling and Management, Fluid Preparation, Integration & Automation, Aseptic Processing, Buffer Management, and Others), Usage [Cough Syrup, Intravenous Products, Complex Active Pharmaceutical Ingredients (APIs), and Others], and End User (Biotechnology Companies, Pharmaceutical & Medical Companies, and Others)
At 5.2% CAGR, the Asia-Pacific Pharmaceutical Fluid Handling Market is speculated to be worth US$ 2,792.15 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Asia-Pacific pharmaceutical fluid handling market was valued at US$ 2,060.41 million in 2022 and is expected to reach US$ 2,792.15 million by 2028, registering a CAGR of 5.2% from 2022 to 2028. Increase in vaccine production and automated fluid handling systems with machine learning are the critical factors attributed to the Asia-Pacific pharmaceutical fluid handling market expansion.
Vaccines strengthen the immune system of different age groups, providing protection against infectious diseases. In the past few decades, effective immunization has eliminated polio and smallpox, which registered high mortality rates. In recent years, there has been an increase in vaccination demand due to the rising incidences of viral and bacterial infectious diseases. Further, government foundations, hospitals, and pharmaceutical companies are focusing on regular vaccine administration by providing cost-effective immunization across the region. This is boosting the demand for vaccine production, which is likely to promote the growth of the Asia-Pacific pharmaceutical fluid handling market. Additionally, government funding and company investments are stimulating R&D to launch new products. Thus, an increase in vaccine production is anticipated to create an opportunity for the Asia-Pacific pharmaceutical fluid handling market during the forecast period across the region.
On the contrary, high price of failed clinical trails hurdles the growth of Asia-Pacific pharmaceutical fluid handling market.
Based on offering, the Asia-Pacific pharmaceutical fluid handling market is segmented into equipment & solutions and services. The equipment segment held 83.9% market share in 2022, amassing US$ 1,729.35 million. It is projected to garner US$ 2,319.39 million by 2028 to expand at 5.0% CAGR during 2022–2028.
Based on tubing, the Asia-Pacific pharmaceutical fluid handling market is segmented into TPE, PVC, and silicon. The silicon segment held 54.0% market share in 2022, amassing US$ 1,113.24 million. It is projected to garner US$ 1,492.15 million by 2028 to expand at 5.0% CAGR during 2022–2028.
Based on application, the Asia-Pacific 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 held 32.4% market share in 2022, amassing US$ 668.13 million. It is projected to garner US$ 888.38 million by 2028 to expand at 4.9% CAGR during 2022–2028.
Based on usage, the Asia-Pacific pharmaceutical fluid handling market is segmented into cough syrup, intravenous products, complex active pharmaceutical ingredients (APIs), and others. The intravenous products segment held 39.1% market share in 2022, amassing US$ 804.70 million. It is projected to garner US$ 1,127.31 million by 2028 to expand at 5.8% CAGR during 2022–2028.
Based on end user, the Asia-Pacific pharmaceutical fluid handling market is segmented into biotechnology companies, pharmaceutical and medical companies, and others. The biotechnology companies segment held 48.5% market share in 2022, amassing US$ 1,000.25 million. It is projected to garner US$ 1,394.54 million by 2028 to expand at 5.7% CAGR during 2022–2028.
Based on country, the Asia-Pacific pharmaceutical fluid handling market is segmented into Japan, China, India, South Korea, Australia, and the Rest of Asia-Pacific. Our regional analysis states that China captured 30.4% market share in 2022. It was assessed at US$ 627.22 million in 2022 and is likely to hit US$ 880.36 million by 2028, exhibiting a CAGR of 5.8% during the forecast period.
Key players dominating the Asia-Pacific pharmaceutical fluid handling market are Australian Fluid Handling Pty Ltd, CIRCOR International Inc, Danaher Corp, Merck KGaA, Parker Hannifin Corp, RAUMEDIC AG, Rochling SE & Co KG, Spirax Sarco Engineering plc, and Tef Cap Industries Inc, among others.
- In 2021, Rigaku Corporation has acquired all issued shares of MILabs B.V. on August 2, 2021, as part of their full-scale effort to enter the life sciences business. Through this acquisition, Rigaku will expand its life sciences modality business globally by combining MILabs’ multi-modality businesses, including PET, SPECT, Optical Imaging, and CT equipment for animals, with Rigaku's original X-ray imaging business for animals.
- In 2022, Watson-Marlow Fluid Technology Solutions (WMFTS) has launched BioPure Braided Hose assemblies as an end-to-end solution for companies requiring fitting, hose, assembly and testing.
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