Dublin, April 25, 2022 (GLOBE NEWSWIRE) -- The "Global 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) - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global pharmaceutical packaging equipment market is projected to reach USD 11.9 Billion by 2027 from USD 8.4 Billion in 2022, at a CAGR of 7.2% from 2022 to 2027.
The growth of the global pharmaceutical packaging equipment market is driven by the rapidly growing generic & biopharmaceutical markets, growth in OTC drug sales, rising need for flexible and integrated packaging equipment, increased offshore manufacturing in the pharmaceuticals market, the introduction of regulatory standards on the packaging, and 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 primary packaging equipment segment is expected to account for the largest share of the pharmaceutical packaging equipment market
The primary packaging equipment segment accounted for the largest share of the pharmaceutical packaging equipment market. The main function of primary packaging is to restrict climatic, chemical, or biological hazards that cause deterioration. The rising need for the aseptic filling and the sealing of drug molecules into sterile containers and the increasing demand for parenteral vials and prefillable syringes are supporting the growth of this segment.
The liquid packaging equipment segment is expected to account for the largest share of the pharmaceutical packaging equipment market
The liquid packaging equipment segment accounted for the largest share of the pharmaceutical packaging equipment market. The large share of the liquid packaging equipment segment is mainly attributed to the high production of liquid formulations and the increasing incidence of eye and ear disorders across the globe.
Europe to dominate the pharmaceutical packaging equipment market during the forecast period
The pharmaceutical packaging equipment market in Europe dominated the pharmaceutical packaging equipment market in the forecast period.
Growth in the European market is majorly driven by the high pharmaceutical production, increasing demand for flexible packaging equipment by major pharmaceutical manufacturers, and the rising focus on product diversification by companies, which is driving the demand for innovative packaging equipment. Regulatory changes are also compelling pharmaceutical manufacturers to replace their older equipment with new equipment to adhere to the changing standards.
Premium Insights
- Rising Need for Flexible and Integrated Packaging Equipment to Drive Market Growth
- Primary Packaging Equipment Segment to Account for the Largest Share of APAC Market in 2021
- China to Register the Highest Growth During Forecast Period
- Europe to Dominate Pharmaceutical Packaging Equipment Market
- Developing Markets to Register Higher Growth During Forecast Period
Market Dynamics
Drivers
- High Growth in Generics & 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
- Innovation in Pharmaceutical Packaging and Delivery System
- Growth in OTC Drug Sales and Regulations to Reduce OTC Counterfeit
Restraints
- Growing Preference for Refurbished Equipment
Opportunities
- Growth of Pharmaceutical Manufacturing in Emerging Economies
- Rising Demand for Automated Packaging
- Change in Medication Systems to Self-Medication and Self-Care
- Increasing Pharmaceutical R&D Investments
Challenges
- Growth in Personalized and Precision Medicine Supply Chain
- Uncertainties in Regulations and Standards of Pharmaceutical Packaging Process
- Technological Roadmap
Industry Trends
- Development of Production Lines for Small Batch Sizes and Research Purposes
- Automation and Integration of Packaging Equipment
- Growing Focus on Labeling and Serialization for Anti-Counterfeiting of Drugs
- Growing Demand for Aseptic Filling and Sealing Equipment
Case Study Analysis
- Case Study: Qualitative Insight Based on Speed of the Machine
- Sachet Packaging Equipment
- Blister Packaging Equipment
- Cartoning Equipment
Companies Mentioned
- Accutek Pharmaceutical Equipment Companies, Inc
- Acg Worldwide
- Acic Pharmaceuticals Inc.
- Arpac LLC
- Ast, Inc.
- Bausch+Strobel Maschinenfabrik Ilshofen GmbH + Co. Kg
- Busch Machinery
- Coesia S.P.A
- Duke Technologies
- Harro Hofliger Verpackungsmaschinen GmbH
- Industria Macchine Automatiche S.P.A. (Ima S.P.A)
- Inline Filling Systems
- Korber Ag
- Maquinaria Industrial Dara, Sl
- Marchesini Group S.P.A.
- Mg2 S.R.L.
- Multivac Group
- Njm Packaging
- Optima Packaging Group GmbH
- Robert Bosch GmbH (Syntegon Technology GmbH)
- Romaco Group
- Truking Technology Limited
- Trustar Pharma Pack Equipment Co., Ltd
- Uhlmann Group
- Vanguard Pharmaceutical Machinery, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/t3lc1b
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