Frost & Sullivan: Energy-efficiency Concerns Affect the Total Pumps Market in the European Pharmaceutical Industry
The European pharmaceutical industry has managed to remain insular to the economic crisis due to government-aided stimulus packages. The demand for pumps in the European pharmaceutical industry is expected to increase because of certain re-initiated projects in the recovering economies. Product types including centrifugal, peristaltic and lobe pumps will have a significant rise in their revenue shares in the total market triggered by competitive factors like total cost of ownership and energy efficiency.
New analysis from Frost & Sullivan (http://www.industrialautomation.frost.com), Strategic Analysis of Pumps Market in the European Pharmaceutical Industry, finds that the total market earned revenues of $85.4 million in 2009 and estimates this to reach $102.0 million in 2016.
The pharmaceutical industry is anticipated to provide considerable growth opportunities in the long term driven by regulations, patents and investments in biotechnology. The need for industry participants in Eastern Europe to comply with EU standards will provide opportunities for replacing, upgrading or servicing their products. This is expected to be a short-term driver to this market.
However, customers prefer a one-stop-shop solution and focus on procuring complete integrated solutions as against stand-alone pumps. Pump suppliers are not equipped to provide such complete integrated solutions.
Manufacturers should enhance their product portfolio with a particular interest on pumps with energy efficiency and low life cycle cost. Greater attention on offering innovative and strategic services is expected to result in short-term benefits.