DUBLIN, April 21, 2022--(BUSINESS WIRE)--The "Global Pharmaceutical Packaging Equipment Market by Product (Aseptic Packaging, Blister, Strip, Bottle, Tube, Carton, Case Packer, Wrapping Machine, Palletizing, Labeling & Serialization), Type (Tablet, Powder, Cream, Syrup, Aerosol) - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global pharmaceutical packaging equipment market is projected to reach USD 11.9 Billion by 2027 from USD 8.4 Billion in 2022, at a CAGR of 7.2% from 2022 to 2027.
The growth of the global pharmaceutical packaging equipment market 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.
The primary packaging equipment segment is expected to account for the largest share of the pharmaceutical packaging equipment market
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 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.
The liquid packaging equipment segment is expected to account for the largest share of the pharmaceutical packaging equipment market
The liquid packaging equipment segment accounted for the largest share of the pharmaceutical packaging equipment market. The large share of the liquid packaging equipment segment is mainly attributed to the high production of liquid formulations and the increasing incidence of eye and ear disorders across the globe.
Europe to dominate the pharmaceutical packaging equipment market during the forecast period
The pharmaceutical packaging equipment market in Europe dominated the pharmaceutical packaging equipment market in the forecast period.
Growth in the European market is majorly driven by the high pharmaceutical production, increasing demand for flexible packaging equipment by major pharmaceutical manufacturers, and the rising focus on product diversification by companies, which is driving the demand for innovative packaging equipment. Regulatory changes are also compelling pharmaceutical manufacturers to replace their older equipment with new equipment to adhere to the changing standards.
Rising Need for Flexible and Integrated Packaging Equipment to Drive Market Growth
Primary Packaging Equipment Segment to Account for the Largest Share of APAC Market in 2021
China to Register the Highest Growth During Forecast Period
Europe to Dominate Pharmaceutical Packaging Equipment Market
Developing Markets to Register Higher Growth During Forecast Period
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
Growing Preference for Refurbished Equipment
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
Growth in Personalized and Precision Medicine Supply Chain
Uncertainties in Regulations and Standards of Pharmaceutical Packaging Process
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
Case Study: Qualitative Insight Based on Speed of the Machine
Accutek Pharmaceutical Equipment Companies, Inc
Bausch+Strobel Maschinenfabrik Ilshofen GmbH + Co. Kg
Industria Macchine Automatiche S.P.A. (Ima S.P.A)
Marchesini Group S.P.A.
Robert Bosch GmbH (Syntegon Technology GmbH)
Trustar Pharma Pack Equipment Co., Ltd
For more information about this report visit https://www.researchandmarkets.com/r/ri8y54
View source version on businesswire.com: https://www.businesswire.com/news/home/20220421005657/en/
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