Pharmaceutical Packaging Equipment Market – Industry Trend, Size, Share and Forecast Analysis For 2016 – 2024

Integration of Modern Technology Accelerates Adoption of Pharmaceutical Packaging Equipment

The phenomenal pace of the advancements in the overall pharmaceutical industry has had a positive impact on the global pharmaceutical packaging equipment market as well. Companies operating in the global market have brought in new technologies such as automation, which has leveraged the adoption of pharmaceutical packaging equipment amongst several small-scale manufacturers in many developing countries. The advancements have facilitated reliable processing and packaging of pharmaceuticals ensuring compliance with safety standards set by various governments and safety expectations of growing number of patients.

A research report published by Transparency Market Research states that the opportunity in the global pharmaceutical packaging equipment market will be worth US$8.14 bn by 2021 as compared to US$5.13 bn in 2014. During the report’s forecast period ranging from 2015 to 2021, the market is anticipated to expand at a CAGR of 6.8%. Aggressive investments in research and development of advanced machinery will also play a significant role in progress rate of this market. Pharmaceutical companies will invest in machines that will promise reliability, speed, accuracy, and efficiency to meet the ever-growing demand for medicines in the coming years.

Browse Full Report@

Despite these strong market drivers, the global market is facing tough challenges from budget cuts in the pharmaceutical industry that is constantly battling the issue of providing affordable healthcare and acquiring modern equipment. Owing to this, packaging companies are reducing their manufacturing costs by refurbishing old equipment. Thus, the slight dip in the new equipment purchases has created a negative sentiment in the market.

North America Shows Positive Growth Rate due Continuous Technological Advancements

Geographically, the global pharmaceutical packaging equipment market has been segmented on the basis of North America, Asia Pacific, and Europe. The research report indicates that North America has been leading the global market with a share of about 30% in 2014. The North America pharmaceutical packaging equipment market is expected to expand at a CAGR of 6.5% between 2015 and 2023 as the demand for solid dosage medications increases. The positive trajectory of this market will also be encouraged by the rapid pace of technological advancements.

An emerging trend of integration of modern technology to upgrade the packaging equipment is also expected create a fertile ground the growth of this market across North America. The primary packaging equipment will witness steady demand in the entire region as the demand for aseptic filling and sealing equipment will gain momentum due to growing pressure of maintaining sterility during packaging activities.

Primary Packaging Equipment Exhibits a CAGR of 6.8% from 2015 to 2021

The primary packaging equipment has witnessed a significant rise due to its increasing utilization in packaging unit dosage forms of medications. This segment is further divided into bottle filling and capping equipment, aseptic filling and sealing equipment, soft tube filling and sealing equipment, blister packaging equipment, sachet packaging equipment, and others. The use of primary packaging equipment allows safe containment of the product for its entire lifespan. Additionally, primary packaging techniques also make handling and storing of goods easier.

TMR forecasts that the aseptic filling and sealing equipment segment held a dominant share of 40.9% in 2014 in terms of revenue. This segment is expected to retain its leading position in the coming years as well as these systems are known for their efficiency and compact size. The opportunity in the primary packaging equipment segment is likely to be worth US$4.99 bn by 2021.

Some of the key players operating the global pharmaceutical packaging equipment market are IMA S.P.A, Kober AG, Uhlmann Pac-Systeme GmbH & Co. KG., Robert Bosch GmbH, and Marchesini Group S. p. A. These players collectively held a dominant share, which was defined by their impressive product portfolio and diversification plans. Analysts state that companies will have to build strategic partnerships in order to diversify and extend their reach in other parts of the world.

For More Information, Download Brochure@