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
NEW YORK, Nov. 2, 2020 /PRNewswire/ --
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. The growth of the market is driven by the rapidly growing generic & biopharmaceutical markets, growth in OTC drug sales, rising need for flexible & integrated packaging equipment, increased offshore manufacturing in the pharmaceuticals market, and the introduction of regulatory standards on packaging & 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.
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The labeling and serialization equipment segment is expected to witness the fastest growth during the forecast period
Based on the product, the pharmaceutical packaging equipment market is segmented into primary packaging equipment, secondary packaging equipment, and labeling and serialization equipment.The labeling and serialization equipment segment is expected to witness the fastest growth during the forecast period.
The growth can be attributed to the increasing number of counterfeit drugs, especially in developing countries, which is expected to increase labeling and serialization equipment demand during the forecast period.
The liquid packaging equipment segment accounted for the largest share of the pharmaceutical packaging equipment market in 2020
Based on type, the pharmaceutical packaging equipment market 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.
The share can be attributed to the wide range of applications of liquid pharmaceutical dosage as they can be administered via either the oral or the parenteral route. Their palatability makes them a product of choice for geriatric and pediatric patients.
Asia Pacific accounted for the largest share and is projected to grow at the highest CAGR during the forecast period.
Asia Pacific accounted for the largest share and is projected to record the highest growth in the global pharmaceutical packaging equipment market during the forecast period.The demand for pharmaceutical packaging equipment in the APAC region is driven primarily by the increase in the overall volume of pharmaceutical production.
The growing demand for contract manufacturing and the rising offshoring of pharmaceutical manufacturing to emerging markets in China and India has resulted in a significant demand for packaging equipment in these regions.
• By Company: Tier 1: 45%, Tier 2: 30%, and Tier 3: 25%
• By Designation: C-level Executives: 42%, Directors: 29%, and Others: 29%
• By Region: North America: 30%, Europe: 25%, APAC: 30%, LATAM: 10% and MEA: 5%
Some of the key players in the pharmaceutical packaging equipment market are Syntegon Technology (Germany), IMA S.p.A. (Italy), Körber AG (Germany), Uhlmann Group (Germany), OPTIMA Packaging Group (Germany), Romaco Holding (Germany), MG2 S.r.l. (Italy), Marchesini Group (Italy), Vanguard Pharmaceutical Machinery (US), ACG Worldwide (India), Trustar Pharma & Packing Equipment (China), Accutek Packaging Equipment Companies (US), Coesia S.p.A. (Italy), MULTIVAC Group (Germany), Busch Machinery (US), Inline Filling Systems (US), Dara Pharmaceutical Packaging (US), Duke Technologies (India), and ARPAC LLC (US). The study includes an in-depth competitive analysis of these key players in the pharmaceutical packaging equipment market, along with their company profiles, recent developments, and key market strategies.
Research Coverage:
The market study covers the pharmaceutical packaging equipment market across various segments.It aims at estimating the market size and the growth potential of this market across different segments by product, type, and region.
The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants in this market and provide information regarding the closest approximations of the pharmaceutical packaging equipment market and its subsegments.This report will help stakeholders understand the competitive landscape, gain insights to position their businesses better, and plan suitable go-to-market strategies.
The report will also help stakeholders understand the pulse of the market and provide information on key market drivers, restraints, and opportunities.
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