Pharmaceutical packaging equipment market

Pharmaceutical Packaging Equipment Market, by Product (Primary Packaging Equipment, Secondary Packaging Equipment, and Labeling and Serialization Equipment), by Type (Liquids Packaging Equipment, Solid Packaging Equipment, Semi-Solid Packaging Equipment, and Other Products Packaging Equipment), by End User (Pharmaceutical Manufacturing, Contract Packaging, Retail Pharmacy, Institutional Pharmacy, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2018 - 2026

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Jul 2019
CMI2799
188 Pages
Excel & Pdf
Medical Devices

Summary

Global Pharmaceutical Packaging Equipment Market – Industry Insights

Pharmaceutical packaging and labeling is one of the vital requisite in the pharmaceutical industry to fulfill the need of safe delivery of products to the consumers providing reliable and speedy packaging solutions. It delivers quality products, product protection, patient comfort and also fulfills security needs. The recent innovation in the packaging solutions like child-resistant packs, blow fill seal (BFS) vials, anti-counterfeit measures, plasma impulse chemical vapor deposition (PICVD) coating technology, snap off ampoules and prefilled syringes like or two-in-one prefilled vials is bringing a boom in the industry.

Each individual product requires a precise measurement that makes one unit-dose size different than the other. Regardless of specific need, be it liquid or solid, pharmaceutical packaging machinery needs to be flexible enough to work within the needs of the manufacturing and packaging process for each unique situation.

High demand for generic and pharmaceutical products, growing contract pharmaceutical and offshore pharmaceutical manufacturing, and increasing need for flexible and integrated packaging equipment are some of the factors driving growth of the pharmaceutical packaging equipment market.

The global pharmaceutical packaging equipment market was valued at US$ 6.97 Bn in 2017, and is expected to witness a CAGR of 8.2% during the forecast period (2018 – 2026).

Global Pharmaceutical Packaging Equipment Market Share, By Product: 2018 & 2026

Source: Coherent Market Insights (2019)

Growing Contract Manufacturing of Pharmaceutical Products is expected to drive the Market Growth during the Forecast Period

Contract manufacturing is one of the fastest growing segments in the pharmaceutical industry as it offers international standard quality at low cost. Contract manufacturing is increasingly seen as a strategic option by pharmaceutical players to increase their global market footprint, owing to increasing demand for generic drugs, patent expiration of major therapeutic brands, need for high-quality R & D facilities, and cost-effective production technologies that meet global regulatory guidelines.

A substantial lower cost of operation and production is enhances the multinational companies to enter emerging markets such as India to fulfill their outsourcing needs. This creates increasing demand for pharmaceutical and medical grade packaging materials and associated equipment in the developing countries over the forecast period.

Furthermore, the growth in the active pharmaceutical ingredient (API) is driven by several factors such as the increase in development of biological APIs, increase in demand for API packaging, upsurge in demand for abbreviated new drug applications (ANDA) and rise in drug master files (DMF) from Indian companies. This leads to upsurge the demand in the efficient and cost-effective packaging delivery of formulated products in the pharmaceutical industry.

Global Pharmaceutical Packaging Equipment Market Share, By Type: 2018 & 2026

Source: Coherent Market Insights (2019)

Increasing Demand for Generic and Pharmaceutical Products is expected to Aid in the Market Growth

Price competitiveness and equivalent efficiency of generic drugs (compared to Branded drugs) increases demand for generic drugs. This increase in demand expected to raise the requirement of packaging for generic drugs which in turn will inhibit the growth of the market. For instance, according to IQVIA Medical Audit Data (MAT): March 2018, generic drugs play an important role in the healthcare sector in the U.S., accounting for over 90% of total prescriptions dispensed in the US. Moreover, increasing research and development activities in pharmaceutical segment and growing number of pharmaceutical players entering in this market, will lead generate increase demand for pharmaceutical packaging equipment in future.

Key pharmaceutical players are focused on increasing investments to gain generic product approvals and market the same, which is expected to propel demand for pharmaceutical packaging equipment over the forecast period.

Among regions, Asia Pacific is expected to be the fastest growing market over the forecast period, owing to the expertise of Asia Pacific countries such as China, India, and Japan in adopting new packaging technology in order to scale up the business operations. These countries offer vibrant business platform for start-up companies, R&D centers, and major pharmaceutical companies to deliver cutting edge technology solutions and service provider ecosystem in pharmaceutical packaging. This creates favorable environment for initiation of pharmaceutical packaging equipment players in the future.

Key players operating in the pharmaceutical packaging equipment market include, Robert Bosch GmbH, Industria Macchine Automatiche S.p.A., Marchesini Group S.p.A., Korber AG, MG2 s.r.l., Accutek Packaging Equipment Companies, Inc., Vanguard Pharmaceuticals Machinery, Inc., Romaco Pharmatechnik GmbH, Bausch + Ströbel Maschinenfabrik Ilshofen GmbH+Co. KG, and OPTIMA packaging group GmbH.

Table of Content

Table of Contents

*Browse 26 market data tables and 31 figures on "Pharmaceutical Packaging Equipment Market - Global forecast to 2026”.

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- Frequently Asked Questions -

What are the growth estimates for pharmaceutical packaging equipment market till 2026?

The global pharmaceutical packaging equipment market is estimated to surpass US$ 13.8 Billion by 2026 .

Which are the prominent pharmaceutical packaging equipment market players across the globe?

Major players operating in the global pharmaceutical packaging equipment market include Robert Bosch GmbH, Industria Macchine Automatiche S.p.A., Marchesini Group S.p.A., Korber AG, MG2 s.r.l., Accutek Packaging Equipment Companies, Inc., Vanguard Pharmaceuticals Machinery, Inc., Romaco Pharmatechnik GmbH, Bausch + Ströbel Maschinenfabrik Ilshofen GmbH+Co. KG, and OPTIMA packaging group GmbH.

Which segment based on product type, accounted for the highest demand in the pharmaceutical packaging equipment market?

Among product type, primary packaging equipment segment accounted for major market share in 2017 .

What are the key factors driving growth of the pharmaceutical packaging equipment market?

Growing contract manufacturing of pharmaceutical products is one of the major factors that is expected to propel growth of the market over the forecast period.

What is the Compound Annual Growth Rate (CAGR) of the pharmaceutical packaging equipment market for next 8 years?

The global pharmaceutical packaging equipment market is estimated to exhibit a CAGR of 8.2% over the forecast period.