Dallas, March 03, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global pharmaceutical packaging equipment market is projected to grow from USD 7.62 billion in 2020 to USD 11.96 billion by 2028, at a CAGR of 5.80% during the forecast period 2021-2028.
Increasing demand for pharmaceutical products due to rise in spending on healthcare across the globe. In addition to this, increasing geriatric population and chronic diseases in the world, rising the demand for pharmaceutical products. A large number of original drugs have lost their patents. Thus, the production of generic medicines is on the rise. Furthermore, the generic medicines are affordable than the original drugs, and thus demand is high in the regions such as the Asia Pacific and Latin America.
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Pharmaceutical packaging equipment is the machines that are used for the packaging of pharmaceutical products. These machines are ranging from conveying systems to sealing machines to labelling and printing machines. In addition to this, various types of other equipment are used for pharmaceutical packaging. Some of the newest pharmaceutical packaging equipment includes label applicators, sealers, hand packing stations, and case packers. The use of equipment generally depends on the type of packaging, such as solid, semi-solid, and liquid packaging.
The global pharmaceutical packaging equipment market is witnessing a rapid growth owing to increasing production of pharmaceutical products across the globe. In addition to this, rising production of generic medicines in developing countries, further boosting the growth of the market. Furthermore, the growth in the contract manufacturing of pharmaceutical products propelling the demand for more pharmaceutical packaging equipment across the globe. The increasing emergence of new technologies for the packaging of pharmaceutical products, further offering growth opportunities in the market. However, the high cost of pharmaceutical packaging equipment may hamper the growth of the market over the forecast period.
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Major players in the global pharmaceutical packaging equipment market are Romaco Holding, Uhlmann Group, Bausch + Ströbel, Korber AG, Marchesini Group, Vanguard Pharmaceuticals Equipment, I.M.A. IndustriaMacchineAutomaticheS.p.A., Accutek Packaging Equipment Companies, and Coesia among others. The key players of global pharmaceutical packaging equipment market are majorly focusing on adoption of various strategies such as new product development, joint venture, collaboration, technological integration, product innovations, mergers & acquisitions, and partnerships to gain the significant market share in the industry.
• In August 2017, Uhlmann announced the partnership with the Surepharm Services, a specialist in the contract manufacturing of generic and branded formulations,to install the Uhlmann’s BEC 300, a combined blister and cartoning module, to streamline the productivity.
• In June 2018, The Marchesini Group announced the acquisition of Schmucker, a companythat specialises in building stickpack packaging machinery for the food, pharmaceutical and cosmetic market, to expand the pharmaceutical packaging business.
The semi-solid packaging equipment is projected to grow at the highest CAGR of 7.8% over the forecast period
The equipment type segment is divided into solid packaging equipment, semi-solid packaging equipment, and liquid packaging equipment. The semi-solid packaging equipment is projected to grow at the highest CAGR of 7.8% over the forecast period. Increasing production of semi sold pharmaceutical products such as ointments, gels, lotion, and cream are driving the need for semi-solid packaging equipment.
The primary packaging segment dominated the global pharmaceutical packaging equipment market and valued at USD 4.59 billion in the year 2020
The packaging type segment is classified into primary packaging, secondary packaging, tertiary packaging, and labelling and serialization equipment. The primary packaging segment dominated the global pharmaceutical packaging equipment market and valued at USD 4.59 billion in the year 2020. High adoption of primary packaging for pharmaceutical products for easy handling and distribution, contributing to the growth of the market.
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Regional Segment Analysis of the Pharmaceutical Packaging Equipment Market
• North America (U.S. , Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
• Asia-Pacific (China, Japan India, Rest of APAC)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)
The global pharmaceutical packaging equipment market is classified into North America, Asia Pacific, Europe, South America, and Middle East & Africa. The Europe region emerged as the largest market for the pharmaceutical packaging equipment market and valued at USD 3.10 billion in 2020. The growth is mainly due to higher production of pharmaceutical products across the European region. In addition to this, the rising demand for flexible pharmaceutical packaging equipment for efficient packaging, further driving the growth of the market. Furthermore, the presence of key manufacturing companies in the European region, propelling the growth of the market. On the other hand, the Asia Pacific region is anticipated to grow at the highest CAGR of 7.1% over the forecast period. The growth is mainly attributed to the increasing production of generic pharmaceutical products in countries such as India and China. In addition to this, many global pharmaceutical companies are focusing on the implantation of manufacturing plant in the Asia Pacific region, due to advantages such as low cost of manufacturing, a large number of labour, and a large number of resources. Furthermore, many local companies are entered into the contract manufacturing of pharmaceutical products in the Asia Pacific region. Thus, rising pharmaceutical production across the region driving the growth of pharmaceutical packaging equipment market in the Asia Pacific region over the forecast period.
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About the report:
The global pharmaceutical packaging equipment market is analyzed on the basis of value (USD Billion) volume (Thousand Units), export (Thousand Units), and import (Thousand Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter's five forces model, raw material analysis, attractiveness analysis, and competitor position grid analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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