USD 18.52 billion
Report ID:
SQMIG35A2173 |
Region:
Global |
Published Date: February, 2024
Pages:
211
|
Tables:
65 |
Figures:
66
Pharmaceutical Processing and Packaging Equipment Market size was valued at USD 18.52 billion in 2019 and it is anticipated to reach USD 25.2 billion by 2031, at a CAGR of 4.5% during the forecast period (2024-2031).
The pharmaceutical processing and packaging equipment market has experienced significant growth, which is primarily attributable to the booming pharmaceutical industry, rising contract manufacturing demand, the expiration of patents, which has increased generic drug production, and a trend toward flexible manufacturing. The market has a lot of room to develop thanks to the rise in pharma R&D investment and domestic pharmaceutical production in a number of nations, including China, India, Malaysia, Indonesia, and the UAE.
The introduction of biological APIs has increased interest in pharmaceutical packaging equipment as well as increased demand for API packaging and condensed innovative therapeutic applications (ANDA). The pharmaceutical industry claims that as a result, there is a rise in demand for designed pharmaceuticals to be given in economical and effective packaging. The introduction of new pharmaceuticals and the rise in the prevalence of chronic diseases are the two main factors driving the market for pharmaceutical packaging equipment.
In some countries with low-cost manufacturing facilities, an increase in production volume is projected to boost the demand for pharmaceutical packaging equipment. The pharmaceutical packaging equipment industry is expanding primarily due to liquid packaging machinery. This was ascribed to the variety of uses for liquid pharmaceutical doses, which may be given orally or by parenteral administration. It was also noted that they are palatable, making them a great choice for both elderly and juvenile patients.
US Pharmaceutical Processing and Packaging Equipment Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 18.52 billion
Largest Segment
Oral
Fastest Growth
Parental
Growth Rate
4.5% CAGR
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The global pharmaceutical processing & primary packaging equipment market is segmented based on mode of delivery, secondary packaging, and region. The market by mode of drug delivery is majorly segmented into oral, parenteral, topical, and other formulations. Based on the type, the market is segmented as cartoning equipment, wrapping equipment, labeling equipment, and cleaning equipment. Based on region, the market is segmented into North America, Latin America, Europe, Asia Pacific, Europe, and MEA.
Pharmaceutical Processing and Packaging Equipment Market Analysis by Mode of Delivery
According to mode of delivery, the oral formulations segment is anticipated to have the largest market share in 2021. Drug administration for oral formulations doesn't need to be done by trained professionals. Oral formulations are more preferred since they are easier to administer, more convenient, and more affordable. Oral marketed doses and oral liquid dosages are examples of oral formulations. The market segment for oral solid doses is anticipated to increase at the quickest rate throughout the anticipated period.
Pharmaceutical Processing and Packaging Equipment Market Analysis by Type
The segment of packaging equipment for cartons is anticipated to account for the largest revenue share in the market for pharmaceutical secondary packaging.
Regarding product handling, cartons are regarded as the best secondary packaging. To add an additional layer of protection, medications are generally packed using cartooning machinery. It offers cost-effective and efficient product protection during shipping. To shield drugs from moisture, light, or other potential contaminants, regulatory bodies like the U.S. FDA also advise utilizing secondary packaging, such as cartons. As needed by regulatory rules, product inserts or booklets about the product are also transported in boxes.
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Asia-Pacific will lead the pharmaceutical packaging equipment market in terms of revenue and market share throughout the projected period. This is a result of the region's rising need for pharmaceutical packaging machinery. Due to strict government regulations and policies against fake goods, rising offshore pharmaceutical production, and rising adoption of liquids packaging equipment, the Asia-Pacific region dominates the market for pharmaceutical packaging equipment. Additionally, the government's relaxations, such as raising the foreign direct investment (FDI) limit for brownfield pharmaceutical ventures from 49% to 74%, as well as a booming generic drug market, have helped India's pharmaceutical manufacturing sector attract investment from international private equity firms.
Europe is estimated to see the highest growth throughout the forecast period due to its higher level of pharmaceutical product production. The drivers boosting the development of this regional market include the size of the pharmaceutical sector, rising R&D spending, and the transition to generic medications brought on by rising healthcare prices.
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Pharmaceutical Processing and Packaging Equipment Market Drivers
Increasing Cost of Healthcare Services to Boost Market Growth
Pharmaceutical Processing and Packaging Equipment Market Restraints
Stringent Regulations to Hinder Market Growth
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With a number of regional and international competitors present all over the world, the market for pharmaceutical processing and packaging equipment is fairly competitive. The market's leading companies are putting a variety of business strategies into practice, including product launches, acquisitions, mergers, and partnerships, to broaden their geographic reach and product offering.
Pharmaceutical Processing and Packaging Equipment Market Top Player's Company Profiles
Pharmaceutical Processing and Packaging Equipment Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global pharmaceutical processing & packaging equipment analysis, the market is booming. Growing demand for contract manufacturing, generic drug production increasing as patents expire, and a trend toward flexible manufacturing. Significant prospects for the market's expansion are provided by the rise in pharmaceutical R&D expenditures and domestic pharmaceutical manufacture in a number of nations, including China, India, Malaysia, Indonesia, and the United Arab Emirates.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 18.52 billion |
Market size value in 2031 | USD 25.2 billion |
Growth Rate | 4.5% |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
|
Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Historical Year | 2019 |
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Pharmaceutical Processing and Packaging Equipment Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Pharmaceutical Processing and Packaging Equipment Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Pharmaceutical Processing and Packaging Equipment Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Pharmaceutical Processing and Packaging Equipment Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATIONPharmaceutical Processing and Packaging Equipment Market size was valued at USD 18.52 billion in 2019 and it is anticipated to reach USD 25.2 billion by 2031, at a CAGR of 4.5% during the forecast period (2024-2031).
With a number of regional and international competitors present all over the world, the market for pharmaceutical processing and packaging equipment is fairly competitive. The market's leading companies are putting a variety of business strategies into practice, including product launches, acquisitions, mergers, and partnerships, to broaden their geographic reach and product offering. 'Robert Bosch GmbH (Germany)', 'I.M.A. INDUSTRIA MACCHINE AUTOMATICHE S.P.A. (Italy)', 'Körber AG (Germany)', 'Coesia S.p.A (Italy)', 'Syntegon Technology GmbH (Germany)', 'Otto Bihler Maschinenfabrik GmbH & Co. KG (Germany)', 'Romaco Group (Germany)', 'Uhlmann Group (Germany)', 'Maquinaria Industries Dara, SL (Spain)', 'MULTIVAC (Germany)', 'Accutek packaging Companies (US)'
Due to rising healthcare costs, the release of new medications, and the rise in chronic illness incidence, the worldwide pharmaceutical industry is predicted to increase strongly in the upcoming years. A significant number of blockbuster medications have also recently lost their patents, and more are expected in the upcoming years. This will make it possible for low-cost generic competitors to enter the market, which is expected to increase the number of medications sold. By the end of 2018, when the patents on several prescription pharmaceuticals in developed markets like the US and the UK expired, the total sales of these medications were probably down by more than USD 100 billion. In reality, however, the sales volume climbed because to the rise in demand for their generic and biologic competitors' products. The market for packaging equipment for the manufacture of generic drugs is anticipated to rise significantly as a result of this increase in production volume, particularly in Latin American and Asian nations with affordable manufacturing facilities.
Increasing player investments in the manufacturing sector and ongoing technological advancement in the market for pharmaceutical packaging equipment are some of the major trends that have been seen in the industry. The pharmaceutical packaging equipment market is expanding as a direct result of the booming pharmaceutical sector. Growing rates of illnesses and disorders are driving the pharmaceutical business to expand, which is driving demand for pharmaceutical packaging machinery. Due to the low import taxes in emerging nations like China and India, the market for pharmaceutical packaging equipment is expected to grow rapidly in those countries. Developing nations in the Asia-Pacific region are becoming prospective markets for pharmaceutical packaging equipment due to the demand for affordable production facilities.
Asia-Pacific will lead the pharmaceutical packaging equipment market in terms of revenue and market share throughout the projected period. This is a result of the region's rising need for pharmaceutical packaging machinery. Due to strict government regulations and policies against fake goods, rising offshore pharmaceutical production, and rising adoption of liquids packaging equipment, the Asia-Pacific region dominates the market for pharmaceutical packaging equipment. Additionally, the government's relaxations, such as raising the foreign direct investment (FDI) limit for brownfield pharmaceutical ventures from 49% to 74%, as well as a booming generic drug market, have helped India's pharmaceutical manufacturing sector attract investment from international private equity firms.
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Product ID: SQMIG35A2173