NEWARK, Del, June 27, 2023 (GLOBE NEWSWIRE) -- The global pharmaceutical packaging equipment market is anticipated to reach a valuation of US$ 5.6 billion in 2023, driven by the growing biopharmaceutical industry. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 9.0% between 2023 and 2033, and reaching a total valuation of approximately US$ 13.3 billion by 2033.
One of the primary factors driving the growth of the pharmaceutical packaging equipment market includes the rapid advancements in technology, which are reshaping the market. Innovations such as automation, robotics, and digitalization are transforming packaging processes, enhancing efficiency, accuracy, and productivity. Automation reduces human errors, increases throughput, and enables seamless integration with other manufacturing systems. Robotics offers precision and speed in tasks like pick-and-place, sorting, and labeling. The integration of digital technologies allows real-time monitoring, data analysis, and remote control, optimizing overall packaging operations.
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Another significant factor contributing to market growth is the focus on sustainable packaging solutions. The pharmaceutical industry is increasingly embracing sustainable practices, including eco-friendly packaging solutions. There is a rising demand for packaging equipment that utilizes recyclable materials, reduces waste, and minimizes the carbon footprint, as environmental concerns continue to grow. Manufacturers are developing equipment that supports the use of biodegradable materials, renewable resources, and energy-efficient processes, aligning with the industry's sustainability goals and consumer preferences.
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The pharmaceutical outsourcing trend has led to the rise of contract packaging organizations (CPOs). The specialized service providers offer packaging solutions to pharmaceutical companies, allowing them to focus on core competencies while leveraging the expertise of packaging professionals. There is a corresponding demand for advanced packaging equipment tailored to meet the specific needs of these organizations, as the number of CPOs increases. The outsourcing trend is escalating the growth of the pharmaceutical packaging equipment market.
Key Takeaways from this Market Study:
- The global pharmaceutical packaging equipment market was valued at US$ 5.1 billion by 2022 end.
- From 2018 to 2022, the market demand expanded at a CAGR of 5.8%.
- The United States is expected to hold a dominant CAGR of 7.6% during the forecast period.
- By Automation, the automatic segment is expected to constitute a CAGR of 7.6% in 2033.
- On the basis of machine type, the blister packaging segment is expected to dominate the market with a CAGR of 5.0% in 2033.
- From 2023 to 2033, the pharmaceutical packaging equipment market is expected to flourish at a CAGR of 9.0%.
- By 2033, the market value of pharmaceutical packaging equipment is expected to reach US$ 13.3 billion.
Expansion of the generic drugs, across the globe is a major factor that is expected to propel the growth of the pharmaceutical packaging equipment market in the near future, remarks an FMI analyst.
Competitive Landscape:
Prominent players in the Pharmaceutical Packaging Equipment market are Gerresheimer, Robert Bosch GmbH, I.M.A. Industria Macchine Automatiche SpA, Marchesini Group S.p.A, Bausch+Ströbel Maschinefabrik Ilshofen GmbH+Co. KG, Romaco Group, Dara Pharmaceutical Equipment, MULTIVAC Group, Accutek Pharmaceutical Equipment Companies, Inc., OPTIMA Packaging Group, Trustar Pharma Pack Equipment, Co. Ltd., MG2 s.r.l., Inline Filling Systems, Venia LLC, ACIC Pharmaceuticals Inc., Harro Höfliger, NJM Packaging, CKD Corporation, Herma GmbH, and ProMach, Inc., among others.
Recent Developments:
- In 2021, IMA announced the launch of its new robotic cartoning platform, CROMA-R, which offers high-speed performance and flexibility in pharmaceutical packaging.
- In 2020, Bosch introduced the Sigpack TTMP topload cartoner, featuring a modular design for flexibility and efficiency in pharmaceutical packaging.
- In 2020, Marchesini Group introduced the new BL-A420 CW case packer, designed for the packaging of pharmaceutical products in cartons.
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More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global pharmaceutical packaging equipment market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the pharmaceutical packaging equipment market, the market is segmented on the basis of automation (automatic, semi-automatic, and manual), by machine type (bottling line, cartoning, form-fill-seal (ffs), blister packaging, capping & closing, filling & sealing, labelling, decorating & coding, palletizing, and wrapping & bundling), and by application (tablets, powders, cream, syrup, and aerosol), across five major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa (MEA)).
The packaging team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 Billion+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
Key Segments Profiled:
By Automation:
- Automatic
- Semi-automatic
- Manual
By Machine Type:
- Bottling Line
- Cartoning
- Form-fill-seal (FFS)
- Blister Packaging
- Capping & Closing
- Filling & Sealing
- Labelling, Decorating & Coding
- Palletizing
- Wrapping & Bundling
By Application:
- Tablets
- Powders
- Cream
- Syrup
- Aerosol
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa (MEA)
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Table of Content (ToC):
1. Executive Summary
2. Market Overview
3. Market Background
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Automation
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Machine Type
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application
8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
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