Pharmaceutical Packaging Equipment Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
Global Pharmaceutical Packaging Equipment Market: Snapshot
Packaging of pharmaceutical products is considered to be a very crucial element for the pharmaceutical industry because such packaging ensures the quality and safety of drugs that it contains. As such, it is estimated that there will be a constant requirement for pharmaceutical packaging equipment in the industry of pharma. As opposed to the packaging systems that are available in the world today, pharmaceutical packaging equipment are flexible, modern, and automated and it comprises secondary and primary packaging equipment, and serialization and labeling equipment. This helps in the reduction of the time for packaging thereby boosting production.
Some of the main factors that fuel the growth of the world market for pharmaceutical packaging equipment comprise increased investments in biopharmaceutical research, increase in the funding for generics across the globe, and cost containment in pharmaceuticals. The technological advancements that pertain to serialization and labeling solutions are foreseen to stimulate the growth of the world market for pharmaceutical packaging equipment.
There is a certain market trend that pertains to the world market for pharmaceutical packaging equipment. The development of production lines for research purposes and for small batch size, constant increase in the focus of pharmaceutical manufacturers to curb their operational costs together with augmented focus on the serialization and labeling for anti-counterfeiting of various drugs define the key trends that are linked to the said market. However, rising inclination towards refurbished pharmaceutical packaging equipment as a feasible option to new packaging equipment with high costs is prognosticated to hamper the growth of the world market for pharmaceutical packaging equipment market to some extent.
Pharmaceutical Packaging Equipment Market: Overview
The global pharmaceutical packaging equipment market is estimated to witness a healthy growth in the coming years. Some of the key factors encouraging the growth of the market include cost containment in pharmaceuticals, rise in the funding for generics, and growing investments in biopharmaceutical research. The technological advancements in labeling and serialization solutions are anticipated to boost the growth of the global pharmaceutical packaging equipment market. Rising emphasis on labeling and serialization to counter the problem of counterfeiting of medicines will fuel the demand for pharmaceutical packaging equipment. The market however faces one challenge. The threat from being substituted by refurbished packaging equipment is present in the market. Refurbished packaging equipment is a viable alternative to new packaging equipment, which costs high. This is likely to restrain the growth of the market.
Pharmaceutical Packaging Equipment Market: Key Trends
Some of thy key trends observed in the market are increasing investments in the manufacturing sector by players and consistent technological innovation taking place in the global pharmaceutical packaging equipment market. The flourishing pharmaceutical industry is directly responsible for the growth of the pharmaceutical packaging equipment market. Rising incidences of diseases and infections are pushing the pharmaceutical industry to grow, which in turn is pushing the demand for pharmaceutical packaging equipment. The market for pharmaceutical packaging equipment is especially slated to witness a high growth in developing nations such as China and India as these countries do not have high import duties. The need for inexpensive manufacturing facilities is making developing nations in Asia Pacific, a potential market for pharmaceutical packaging equipment.
Pharmaceutical Packaging Equipment Market: Market Potential
Packaging of pharmaceutical product is extremely vital for the pharmaceutical industry as packaging enables safety and quality of drugs. Thus, there will always be a demand for pharmaceutical packaging equipment in the pharma industry. In contrast with conventional packaging systems, pharmaceutical packaging equipment are automated, modern, and flexible, including primary packaging and secondary equipment, and labeling and serialization equipment. This helps in reducing the time for packaging, boosting production.
Companies such as Robert Bosch Gmbh participate in innovation and develop new products, which is creating a positive outlook for the market. The company recently launched a new Sigpack VPF vertical flat pouch machine and also a HML horizontal flow wrapping machine. The former is developed to pack powders by producing sachets that can pack pain killers in powder form. The machines enables the production of sealed packages and can fill up to 1500 sachets per minute.
Pharmaceutical Packaging Equipment Market: Regional Outlook
The report segments the global pharmaceutical packaging equipment market on the basis of geography into Europe, North America, Latin America, Asia-Pacific, and the Middle East & Africa. North America led in the global pharmaceutical packaging equipment market on account of advancements in the pharmaceutical industry and economic growth of the region. The patent expirations of a number of drugs will also help the market in the region to grow.
Pharmaceutical Packaging Equipment Market: Competitive Landscape
The global pharmaceutical packaging equipment market is highly fragmented. The market is characterized by the presence of several local, regional, and multinational players. Some of the players in the market are: IMA S.p.A. (Italy), Robert Bosch GmbH (Germany), Körber AG (Germany), Multivac Group (Germany), Marchesini Group S.p.A. (Italy), Romaco Pharmatechnik GmbH (Germany), and OPTIMA Packaging Group GmbH (Germany). Key players in the market are striving for innovation so as to maintain their shares in the competitive market.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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