The major factors
driving the growth of this market largely driven by the growth in the generic
and biopharmaceutical markets, the growing need for flexible and integrated
packaging equipment, the increase in offshore pharmaceutical manufacturing,
growing contract manufacturing of pharmaceutical products, and the introduction
of regulatory standards on packaging & stringent norms against counterfeit
products. Moreover, the pharmaceutical industry is witnessing a shift toward
the use of biopharmaceuticals and biological drugs. This has led to an
increased demand for innovative packages.
The Pharmaceutical
Packaging Equipment Market is expected to reach USD 8.9
billion by 2023 from an estimated USD 6.2 billion in 2018, at a CAGR of
7.4%.
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Based on product, the
market is divided into primary packaging equipment, secondary packaging
equipment, and labeling and serialization equipment. The primary packaging
equipment segment accounted for the largest share in the pharmacetuical
packaging equipment market. The ease of handling and shelving of
pharmaceuticals after primary packaging, development of novel forms of drug
delivery and biopharmaceuticals (stimulating the need for innovation in primary
packaging), and the increasing number of regulatory norms and quality control
criteria have contributed to the largest share of primary packaging equipment
in pharmaceutical packaging equipment market.
Based on type, the
pharmaceutical packaging equipment market is segmented into liquid, solid,
semi-solid, and other packaging equipment. The liquid packaging equipment
segment is expected to account for the largest share of the global pharmaceutical
packaging equipment market during the forecast period of 2018 to 2023.
The large share of this
segment can be attributed to the transition toward new biopharmaceutical
compounds (leading to the production of increasingly complex formulations),
rising incidence of eye disorders, and development of novel drug delivery
systems have increased the demand for novel packaging, such as automated and
integrated packaging lines.
Europe is expected to
account for the largest share of the pharmaceutical packaging equipment market
in 2018, followed by North America and the Asia Pacific.
The prominent players in
the pharmaceutical packaging equipment market are Robert Bosch (Germany), IMA
(Italy), Marchesini Group (Italy), Körber (Germany), MG2 (Italy), Uhlmann Group
(Germany), Accutek Packaging Equipment Companies (US), Vanguard Pharmaceuticals
Machinery (US), Romaco Holding (Germany), Bausch + Ströbel (Germany), OPTIMA
Packaging Group (Germany), ACG Worldwide (India), Coesia (Italy), and MULTIVAC
Group (Germany).
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