Mar 27, 2019
Novel Drug Development a Vital Revenue Pocket for Powder Dispensing Systems Market Players: Fact.MR
by Team Fact.MR
According to a recent report by Fact.MR, the powder dispensing systems market is expected to continue its bullish run in the foreseeable future with sales estimated to surpass 62,500 units in 2019. The healthy growth of the market is a consequence of multipronged factors such as intensifying research and development for new drugs in the pharmaceutical industries and widespread adoption of the systems in additive manufacturing.
Demand for powder dispensing systems in pharmaceuticals is expected to burgeon as intensifying competition in the market is prompting companies to enhance their active pharmaceutical ingredients (API). Reworking active pharmaceutical ingredients require heavy investments, making identification of viable candidates crucial in the early stages. However, a key barrier which stifles the progress of the procedure is the sensitivity of these chemicals to physiochemical effects. Additional control measures are required to be taken in order to shield these chemicals from physiochemical effects which, in turn, disturb the timeline of drug development. Powder dispensing systems provide a way to streamline the process by allowing pharmaceutical companies to use micro-dosing encapsulation techniques for manufacturing of API-in-capsule drugs.
In addition to maintaining the original properties of active pharmaceutical ingredients, powder dispensing systems enable companies to accelerate clinical trials and reduce lead time to treatments substantially. According to the report, the factor is estimated to play a vital role in bolstering the demand for powder dispensing systems in pharmaceutical applications with the segment expected to account for sales of almost 27,000 units in 2019.
Evolution of Laser-based Powder Bed Fusion Procedure to Uphold Market Proliferation
Additive manufacturing techniques are gradually gaining traction across an assortment of industries owing to their cost-effectiveness, sustainability, and simplicity. Laser-based powder bed fusion procedure is an important part of additive manufacturing which employs the use of powder dispensers for the production of complex metal components in a cost-effective manner. The technique is gaining widespread adoption as industries seek to reduce time and costs of production to gain a competitive edge in the market. Additionally, intensifying researches towards overcoming the drawbacks of the current system are expected to propel its adoption even further in the foreseeable future. Studies researching the use of different metal alloys and other materials for use in laser-based powder bed fusion additive manufacturing are further expected to boost sales. Fact.MR opines the pervasive trend will drive the demand for powder dispensing systems in laser-based powder bed fusion additive manufacturing with the market poised to register sales of more than 35000 bulk dispensing units in 2019.
Industrial Internet of Things to Aid in Development of Sophisticated Equipment
The evolving industrial internet of things (IIoT) is likely to aid in powder dispensing systems market proliferation with manufacturers gradually leveraging the advanced technology to streamline production and design of powder dispensing systems. Artificial intelligence and machine learning are allowing manufacturers to design virtual prototypes and define simulation environments to effectively test the efficacy of the systems under different circumstances. Powder dispensing system manufacturers are leveraging these technologies along with analytics and internet of things to identify faults in the existing system and predict operation failures. Continuous advancements in the technology are expected to benefit the powder dispensing systems market.
Imposition of Stringent Production Regulations on Pharmaceutical Industries to Hamper Market Growth
Administrations around the world are working towards streamlining the current regulations in pharmaceutical production to ensure the quality and safety of medications. Consequently, precision and micro dosage techniques are gaining priority requiring powdered dispensing systems manufacturers to recalibrate the designs of the systems to comply with the regulations. However, the higher costs of production of these sophisticated powder dispensing systems are expected to stifle market growth with pharmaceutical companies under increasing pressure to maintain quality and affordable pricing of their products amidst intensifying competition.
The Fact.MR report tracks the powder dispensing systems market for the period 2019-2027. According to the report, the powder dispensing systems market is projected to grow at 5.9% CAGR through 2027.