What is the global market size of Pharmaceutical Processing and Packaging Equipment Market?

Global Pharmaceutical Processing and Packaging Equipment Market size was valued at USD 18.52 billion in 2021 and it is anticipated to reach USD 25.2 billion by 2028, at a CAGR of 4.5% during the forecast period (2022-2028).

Global Pharmaceutical Processing and Packaging Equipment Market Size, Share, Growth Analysis, By mode of delivery(oral, parenteral), By Type(cartoning equipment, wrapping equipment) - Industry Forecast 2024-2031

Report ID: SQMIG35A2173 | Region: Global | Published Date: February, 2024
Pages: 211 | Tables: 65 | Figures: 66

Global Pharmaceutical Processing and Packaging Equipment Market Insights

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 Pharmaceutical Processing and Packaging Equipment Market Report Snapshots

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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. '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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Global Pharmaceutical Processing and Packaging Equipment Market Size, Share, Growth Analysis, By mode of delivery(oral, parenteral), By Type(cartoning equipment, wrapping equipment) - Industry Forecast 2024-2031

Global Pharmaceutical Processing and Packaging Equipment Market Insights

Global Pharmaceutical Processing and Packaging Equipment Market Report Snapshots

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