Pharmaceutical equipment refers to the ability to complete and assist in completing the pharmaceutical process of mechanical equipment collectively, the industry chain upstream for raw materials and components link; midstream for pharmaceutical equipment production and supply; downstream mainly used in pharmaceutical companies, research institutions and universities laboratories. Pharmaceutical equipment industry development level is closely related to the downstream pharmaceutical industry, in recent years, with the aging of the population, the growing demand for drugs, to the pharmaceutical equipment market has also brought expansion.

Data show that with the rising prevalence of chronic diseases brought about by the aging of the global population and the expanding demand for generic drugs, biologics and vaccines, the global pharmaceutical equipment market is growing year by year, while more and more pharmaceutical companies are adopting technologies such as continuous manufacturing and modular manufacturing to help produce drugs with higher quality and efficiency and achieve time and cost savings, which will further drive the growth of the pharmaceutical equipment market, which is expected to reach US$118.5 billion by The global pharmaceutical equipment market is expected to reach $118.5 billion by 2028.

In China, with a large population base, the pharmaceutical equipment market is expected to grow as the demand for pharmaceuticals will continue to grow, driving the growth of the pharmaceutical equipment market. Data show that China’s pharmaceutical equipment market sales of $7.9 billion in 2020, this market is expected to approach $10 billion in the next few years, is expected to reach $13.6 billion by 2026, a CAGR of 9.2% during the forecast period.

Analysis shows that one of the main drivers for the development of China’s pharmaceutical equipment market is the increased demand for high-quality drugs and pharmaceutical equipment. As the population ages, the number of patients with chronic diseases increases, and the growth of per capita disposable income, patient demand for high-quality drugs such as antineoplastic drugs will continue to increase, which will also bring more opportunities for the high-end pharmaceutical equipment market.

IVEN grasps the industry dynamics and strengthens the implementation of smart manufacturing, green manufacturing and quality improvement actions in 2023 to help pharmaceutical companies improve the quality management level and product quality of the whole life cycle of drugs and medical devices. IVEN actively promotes the high-end, intelligent and green development of pharmaceutical industry. Actively respond to the national call to achieve the localization and high-end of the use of pharmaceutical machinery this.

Although the Chinese pharmaceutical equipment market has a promising future, it also faces some challenges, such as low industry concentration and increasing competition in the middle and low-end market. As a pharmaceutical machinery integration engineering service company with rich experience, we will increase the research and development of solid dosage form and biopharmaceutical technology in 2023, and further upgrade the equipmefnt intelligently on the already mature blood collection line and I.V. production line. In 2023, IVEN will continue to strengthen its “hard work” under the conditions of both opportunities and challenges, and take the road of independent innovation and research, looking forward to providing better services for global pharmaceutical companies and pharmaceutical manufacturers in the future.