LONDON--(BUSINESS WIRE)--Global procurement intelligence advisory firm, SpendEdge, has announced the release of their ‘Pharmaceutical Formulation Equipment Procurement Research Report.’ The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the pharma and healthcare industry. This report breaks down the data and analysis behind the procurement of pharmaceutical formulation equipment and acts as an all-inclusive guide for making smart purchasing decisions.
“The trend toward formulating complex formulations as well as designing target-based formulations have resulted in a demand for advanced technologies that are enabled with flexible platforms,” says SpendEdge procurement analyst Bhuvaneshwari Udayakumar. “Also, an increase in consolidation measures by leading pharmaceutical innovator companies has resulted in the high availability of surplus equipment leading to a rise in availability of used equipment,” added Bhuvaneshwari.
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Procurement analysts at SpendEdge highlight the following top three market trends that are contributing to the growth of the Global Pharmaceutical Formulation Equipment Market:
- Increase in equipment purchasing budgets
- Enhancements in tablet presses and tablet tooling
- Increase in collaboration among buyers and suppliers to optimize equipment procurement
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Increase in equipment purchasing budgets:
Pharmaceutical companies across the globe are experiencing an overall increase in equipment buying patterns. In this sector, the majority of the purchases are centered around the acquisition of processing equipment for the formulation of small-molecule pharmaceuticals. Moreover, the growth of the biopharmaceutical industry has amplified the capital spending on bioprocessing equipment as the quality of the equipment is inherently linked to the quality of the product.
Enhancements in tablet presses and tablet tooling:
The pharmaceutical industry is experiencing improvements in tablet manufacturing technology to cater to rise in demand from innovator companies. These innovations include enhancements in machine design to improve the output capabilities of tablet presses. Also, such improvements in tablet processing equipment will offer buyers an opportunity to gain access to the latest innovations and assists them in enhancing overall efficiency.
Increase in collaboration among buyers and suppliers to optimize equipment procurement:
The primary cause that has led the pharma firms to increase their M&A activities in the innovator space, as well as CMO, is to optimize costs, leading to the high demand for cost-effective equipment solutions. Suppliers have increased their adoption of innovative technological solutions to offer better quality and throughput. Moreover, the buyers are establishing a collaborative relationship by participating in the design process to procure equipment. Such opportunities will also help in reducing the prices of new equipment purchased.
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