Pharmaceutical Packaging Equipment Market growth 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.
Currently, Pharmaceutical
Packaging Equipment Market is growing at a Compound Annual Growth
Rate (CAGR) of 7.2 % to reach USD 11.9 billion by
2027. The primary packaging equipment segment accounted for the largest
share of the global pharmaceutical packaging equipment market in 2021. 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.
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Growth 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
Growth 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
the pharmaceutical packaging process
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
The prominent players operating in
the Pharmaceutical Packaging Equipment Market are
Robert Bosch GmbH (Syntegon Technology
GmbH) (Germany), IMA S.p.A. (Italy), Körber AG (Germany), Coesia S.p.A (Italy),
and Marchesini Group S.p.A (Italy).
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Europe is expected to exhibit the
highest growth during the forecast period
- High pharmaceutical production,
- Increasing demand for flexible packaging
equipment by major pharmaceutical manufacturers,
- Rising focus on product diversification by
companies
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