Westford USA, Aug. 04, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, governments across different countries are increasingly supporting the biopharmaceutical and pharmaceutical companies in their efforts to discover and manufacture medications for infectious and chronic diseases. They are also emphasizing the expansion of life science infrastructure through various projects. As a result of these developments, there is a growing need for packaging equipment in the pharmaceutical processing equipment market.
Browse in-depth TOC on "Pharmaceutical Processing Equipment Market"
- Pages - 242
- Tables - 63
- Figures – 75
The pharmaceutical processing equipment market is expected to witness a significant growth owing to a growing population, increased disease awareness and the high consumer spending potential on pharmaceutical products. This, in turn drives the demand for pharmaceutical packaging equipment. Additionally, various governments have implemented initiatives to ensure affordable access to medicines for their citizens, boosting the demand for pharmaceutical packaging equipment worldwide.
Prominent Players in Pharmaceutical Processing Equipment Market
- GE Healthcare
- Thermo Fisher Scientific
- GEA Group
- IMA Group
- Becton, Dickinson and Company
- Robert Bosch GmbH
- Siemens AG
- Sartorius AG
- Lonza Group
- Pall Corporation
- Merck KGaA
- Johnson & Johnson
- Danaher Corporation
- ABB Ltd.
- Eppendorf AG
- Shimadzu Corporation
- Hitachi Ltd.
- Agilent Technologies
- Waters Corporation
- Nova Biomedical Corporation
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Case Packing Equipment Segment is Expected to Dominate the Market Due to the Numerous Advantages Offered by Cartoning Technology
Case packing equipment segment is expected to dominate the pharmaceutical processing equipment market. This can be attributed to the numerous advantages offered by cartoning technology, particularly the packaging of medications in lightweight and cost-effective cartons. The simplicity of handling pharmaceutical products packaged in cartons further drives the adoption of this packaging method. These factors contribute to the pharmaceutical industry's increased utilization of cartoning technology.
The markets in North America is projected to hold the largest share in the pharmaceutical processing equipment market. This can be attributed to several factors, including the reshoring of pharmaceutical manufacturing in the United States, the expansion of manufacturing facilities and collaborations between pharmaceutical companies and contract manufacturing organizations (CMOs) to enhance the availability of pharmaceutical products.
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Cartoning Equipment Segment is Expected to Grow in the Market Due to the Increased Consumption of Cartons
Cartoning equipment segment is projected to hold the largest market share in the pharmaceutical processing equipment market. This can be attributed to the higher adoption of cartoning equipment, primarily driven by the increased consumption of cartons in the pharmaceutical industry. Cartons provide convenience in handling packaged goods, contributing to their popularity. Furthermore, the cartons' lightweight and cost-effective nature in pharmaceutical packaging enhances their market demand.
Regional markets in Asia-Pacific region is expected to witness a surge in demand for pharmaceutical processing equipment market. This can be attributed to several factors, including the high volume of production and consumption of pharmaceutical products in the region, the increasing demand for generic drugs, the rapid growth of the contract manufacturing sector, and favorable government policies aimed at promoting domestic production.
A comprehensive analysis of the major players in the pharmaceutical processing equipment market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in Pharmaceutical Processing Equipment Market
- Syntegon, a leading provider of packaging and processing solutions, is set to unveil innovative solutions for producing solid pharmaceutical dosage forms in 2022. This development aims to enhance the efficiency and quality of manufacturing processes in the pharmaceutical industry.
- Indian pharmaceutical supplier ACG partnered with danapak flexibles in 2022. This collaboration aims to improve customer service by leveraging both companies' combined expertise and capabilities. In addition, the partnership intends to provide customers with enhanced solutions and a broader range of offerings in the pharmaceutical packaging sector.
Key Questions Answered in Pharmaceutical Processing Equipment Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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