European pharmaceutical industry drive demands for pumpsApril 05, 2011
Government stimulus packages have helped insulate the European pharmaceutical industry from the broader economic crisis -- and that's good news for pump manufacturers. A new analysis from Frost & Sullivan estimates the demand for centrifugal pumps, peristaltic pumps and lobe pumps in Europe will increase in the next five years.
The Strategic Analysis of Pumps Market in the European Pharmaceutical Industry reports that the total market earned revenues of $85.4 million in 2009 and forecasts that it will reach $102 million by 2016.
Regulations, patents and investments in biotechnology should spur significant growth in the pharmaceutical industry, according to the report. In addition, pressure for the industry to comply with EU standards will provide more opportunities replacing, upgrading and servicing products -- something that could be a short-term driver for this market.
But the report cautions that customers prefer one-stop-shop solutions and focus on getting complete integrated solutions versus stand-alone pumps. Many pump suppliers aren't equipped to provide such solutions. Frost & Sullivan Research Analyst Ram Ravi said that for suppliers to transform into solution providers, they will need to extend their product portfolio and knowledge of other products.
"This would require investment in training and knowledge transfer for new segments as well as in strategic partnership or acquisition," he said.
Ravi suggests that manufacturers enhance their product portfolio with pumps that are energy efficient and have a low life cycle cost.