DUBLIN–(BUSINESS WIRE)–The “Pharmaceutical Processing Seals Market by Material (Metals, PTFE, Nitrile Rubber, Silicone, EPDM, FKM, FFKM, UHMWPE, PU), Type (O-Ring Seals, Gaskets, Lip Seals, D Seals), Application (Manufacturing Equipment), and Region – Global Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.
The pharmaceutical processing seals market is estimated to be USD 2.1 Billion in 2021 and is projected to reach USD 3.3 Billion by 2026, at a CAGR of 10.0%.
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 2021 and 2026. 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 when purity and cleanliness is highly concerned. It is used in the 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 2020, 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 huge demand for generic and biosimilar drugs, huge healthcare expenditure, increasing elderly population, and growing incidence of lifestyle diseases. The huge production and consumption of pharmaceuticals in the region is expected to drive the pharmaceutical processing seals market.
Market Dynamics
Drivers
- Increasing Demand for OTC Drugs
- Increasing Instances of Chronic Diseases
Restraints
- Growing Preference for Refurbished Equipment
Opportunities
- Growing Elderly Population
- Growth of Pharmaceutical Manufacturing in the Emerging Economies
Challenges
- Increasing Overall Costs Owing to Dynamic Regulatory Measures
Companies Mentioned
- Aesseal
- American High-Performance Seals
- C. Otto Gehrckens GmbH and Co. Kg Seal Technology
- Canada Rubber Group Inc.
- Darcoid of California
- Eagle Industry Co. Ltd.
- Etannor Sealing System
- Flowserve Corporation
- Freudenberg Group
- Garlock
- Idex Corporation
- Intec Seals
- James Walker Group
- John Crane
- Maclellan Rubber Ltd.
- Marco Rubber and Plastic Products, Inc.
- Parker Hannifin Corporation
- Performance Sealing Inc.
- Precision Associates, Inc.
- Saint-Gobain Sa
- Seals and Design, Inc.
- Technetics Group
- Techno Ad Ltd.
- Trelleborg Ab
- Vulcan Engineering Limited
- Wika Alexander Wiegand Se and Co. Kg
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