DUBLIN–(BUSINESS WIRE)–The “Pharmaceutical Packaging Equipment Market by Product (Aseptic Packaging, Blister, Strip, Bottle, Tube, Carton, Case Packer, Wrapping Machine, Palletizing, Labeling & Serialization), Type (Tablet, Powder, Cream, Syrup, Aerosol), Region – Global Forecast to 2025” report has been added to ResearchAndMarkets.com’s offering.
The global pharmaceutical packaging equipment market size is projected to reach USD 10.4 billion by 2025 from USD 7.3 billion in 2020, at a CAGR of 7.4% from 2020 to 2025.
The growth of the market is driven by the rapidly growing generic & biopharmaceutical markets, growth in OTC drug sales, rising need for flexible & integrated packaging equipment, increased offshore manufacturing in the pharmaceuticals market, and the introduction of regulatory standards on packaging & stringent norms against counterfeiting. However, factors such as the adoption of refurbished packaging equipment and the high cost of packaging equipment are expected to restrain market growth to a certain extent during the forecast period.
The labeling and serialization equipment segment is expected to witness the fastest growth during the forecast period
Based on the product, the pharmaceutical packaging equipment market is segmented into primary packaging equipment, secondary packaging equipment, and labeling and serialization equipment. The labeling and serialization equipment segment is expected to witness the fastest growth during the forecast period. The growth can be attributed to the increasing number of counterfeit drugs, especially in developing countries, which is expected to increase labeling and serialization equipment demand during the forecast period.
The liquid packaging equipment segment accounted for the largest share of the pharmaceutical packaging equipment market in 2020
Based on type, the pharmaceutical packaging equipment market is segmented into liquid, solid, semi-solid, and other packaging equipment. In 2019, the liquid packaging equipment segment accounted for the largest share of the pharmaceutical packaging equipment market, followed by solid and semi-solid packaging equipment segments. The share can be attributed to the wide range of applications of liquid pharmaceutical dosage as they can be administered via either the oral or the parenteral route. (Read more…) Their palatability makes them a product of choice for geriatric and pediatric patients.
Asia Pacific accounted for the largest share and is projected to grow at the highest CAGR during the forecast period.
Asia Pacific accounted for the largest share and is projected to record the highest growth in the global pharmaceutical packaging equipment market during the forecast period. The demand for pharmaceutical packaging equipment in the APAC region is driven primarily by the increase in the overall volume of pharmaceutical production. The growing demand for contract manufacturing and the rising offshoring of pharmaceutical manufacturing to emerging markets in China and India has resulted in a significant demand for packaging equipment in these regions.
Market Dynamics
Drivers
- High Growth in the Generics and Biopharmaceuticals Markets
- Growing Need for Flexible and Integrated Packaging Equipment
- Increase in Offshore Pharmaceutical Manufacturing
- Growing Contract Manufacturing of Pharmaceutical Products
- Introduction of Regulatory Standards on Packaging and Stringent Norms Against Counterfeit Products
- Growth in OTC Drug Sales
Restraints
- Growing Preference for Refurbished Equipment
Opportunities
- Growth of Pharmaceutical Manufacturing in Emerging Economies
- Rising Demand for Automated Packaging
- Increasing Pharmaceutical R&D Investments
Challenges
- Uncertainties in Regulations and Standards
Companies Mentioned
- Accutek Packaging Equipment Companies, Inc.
- ACG Worldwide
- Arpac LLC
- Bausch+Strobel Maschinenfabrik Ilshofen GmbH + Co. Kg
- Busch Machinery
- Coesia S.P.A
- Dara Pharmaceutical Packaging
- Duke Technologies
- IMA S.P.A.
- Inline Filling Systems
- Korber Ag
- Marchesini Group S.P.A.
- MG2 S.R.L.
- Multivac Group
- Optima Packaging Group Gmbh
- Robert Bosch GmbH (Syntegon Technology Gmbh)
- Romaco Holding Gmbh
- Trustar Pharma Pack Equipment Co. Ltd
- Uhlmann Group
- Vanguard Pharmaceutical Machinery, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/pwvbd9
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