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Global Pharmaceutical Packaging Equipment Market 2020-2027: Unprecedented Global Push to Expedite COVID-19 Vaccine Development to Spur Demand – ResearchAndMarkets.com

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DUBLIN–(BUSINESS WIRE)–The “Pharmaceutical Packaging Equipment – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.

With the World Awaiting Vaccine Supply for 7.5 Billion People, the Drug Packaging Market Remains Optimistic With a 13.2% Spike in Revenues

The global market for Pharmaceutical Packaging Equipment is expected to witness a 13.2% spurt in revenues for the year 2020 and thereafter reach US$15.2 billion by the year 2027, trailing a post COVID-19 CAGR of 9.3% over the analysis period 2020 through 2027.

Despite the optimistic outlook for the market, the pharmaceutical industry is not without its share of challenges. The industry is witnessing disruptions in supply of active materials and ingredients, with production dependent on raw materials from China impacting most countries. The rude shock rendered by the pandemic has awakened the focus on self-sufficiency in production supply chain. Drug R&D, scheduled approvals and launches & routine production of non-COVID drugs are showing signs of being impacted.

As a result of lockdowns and consumption of healthcare resources for COVID-19, TB & its deadly allies like HIV & malaria are making a comeback. Over 7 million additional cases of TB are forecasted by the end of 2020. Drug production faces the pressure of pent-up demand, and challenges in scaling production to meet the increased demand. In a fairly mixed outlook, drug packaging equipment will benefit from the search for drugs, therapies & vaccines for COVID-19 & post virus focus on public health & innovative drug development. (Read more…)

Several companies have started to provide antiviral, sterile packaging to mitigate concerns associated with the viral exposure. These solutions are intended to protect frontline workers engaged in dealing with the rapidly increasing cases of COVID-19. The pandemic has not only pushed demand for healthcare packaging such as pumps, rigid plastic and flexible blister foils, but has also increased the risk of transmission of the virus through pharmaceutical packaging surfaces.

Mounting concerns regarding viral exposure is largely due to the ability of the virus to survive on packaging surfaces for longer periods. These concerns are poised to benefit antiviral, sterile packaging formats. Plastics, against this backdrop, are emerging as a perfect material for antiviral and sterile packaging. Based on its high versatility and barrier properties, plastic is anticipated to emerge as the preferred option for these packaging solutions.

Moreover, antiviral biopolymers, mainly products reinforced with specific active drug components, are anticipated to witness immense popularity owing to their eco-friendly nature and low toxicity. These products present an effective solution to reduce the contamination risk and ensure handling safety. Several companies are also betting on NO2-based sterilization technology for achieving product differentiation. The technology offers benefits of ultra-low temperature process, low pressure requirements and faster cycle times. In addition, plastic presents an ideal solution for ensuring longer shelf life of pharmaceutical products, which is slated to benefit the packaging material during the pandemic.

In support of the world’s focus on development of COVID-19 vaccine, pharmaceutical packaging market is also scaling up operations to keep pace with the ongoing efforts in the space. Companies engaged in development of COVID-19 vaccines are signing agreements with packaging companies for manufacturing syringes and vials to package COVID-19 vaccine.

Moderna for instance announced a collaborative deal with Catalent in June 2020 for providing vial filling and packaging for initial batch of 100 million doses of vaccine from its US facility in Indiana. The company is expected to produce around 500 million to 1 billion doses annually, starting in 2021 from its US-based production facility, through a strategic partnership with Lonza, enhancing the need for packaging solutions. Presently, around 142 experimental vaccines are under studies, focusing on diverse technologies, to efficiently assess clinical outcomes across board.

Irrespective of the diverse platforms, the development haste is all set to augur well for the production of vaccine in the near term. About 13 vaccines have entered human trials to test the safety and efficacy of the vaccine on healthy volunteers, while 129 are in pre-clinical animal trial studies.

Moderna, AstraZeneca, CanSino Biologics, and Pfizer are expected to be released in the first wave during second half of 2020 and first quarter of 2021. The second wave will see Johnson & Johnson, GlaxosmithKline/Sanofi in the second half of 2021.

The production of vaccines would start even before the regulatory approval from third quarter of 2020. Commercial availability of the vaccine would start between fourth quarter 2020 to early 2021.

Scaling up manufacturing facilities, growing global efforts in terms of non-profit public-private partnerships ensuring equitable access to vaccine supplies, greater international collaboration for mapping safety data and vaccination protocols, and strategic financing are all set to boost the prospects of successful development and utilization of COVID-19 vaccine in the near term.

Competitors identified in this market include, among others:

Key Topics Covered:

I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/yi89u7

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