The COVID-19 pandemic has largely impacted healthcare delivery globally since December 2019. Due to the coronavirus pandemic, the number of R&D procedures performed in pharmaceutical companies has increased significantly. Scientists and researchers worldwide are engaged in the development of vaccines and drugs for the treatment of coronavirus. This scenario is expected to have a direct impact on the pharmaceutical packaging equipment market. For instance, Syntegon Technology, formerly known as Bosch Packaging Technology, has witnessed an increase in the sales of pharmaceutical packaging equipment due to the coronavirus outbreak across the globe.
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.
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Market
Segmentation:-
On
the basis of product, the pharmaceutical packaging equipment market is
segmented into primary packaging equipment, secondary packaging equipment, and
labeling and serialization equipment. In 2019, 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 sealing of drug molecules into sterile
containers and the increasing demand for parenteral vials and prefillable syringes
are supporting the growth of this segment.
Based
on type, the Pharmaceutical Packaging Equipment Industry 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.
Key
Market Drivers: –
1 High growth in the generics and biopharmaceuticals markets
2 Growing need for flexible and integrated packaging equipment
3 Increase in offshore pharmaceutical manufacturing
Regional
Analysis:-
Geographically,
the Pharmaceutical Packaging Equipment Industry is segmented into North
America, Europe, the Asia Pacific, Latin America, and Middle East & Africa.
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Top
Key Players:-
The
prominent players in this market are Syntegon Technology (Germany), IMA S.p.A.
(Italy), Körber AG (Germany), Uhlmann Group (Germany), OPTIMA Packaging Group
(Germany), Romaco Holding (Germany), Marchesini Group (Italy), ACG Worldwide
(India), Coesia S.p.A. (Italy) and MULTIVAC Group (Germany).
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