USD 4.23 billion
Report ID: SQMIG35G2118 | Region: Global | Published Date: June, 2023 | Pages: 157 | Tables: 61 | Figures: 75
Tablet Processing and Packaging Equipment Market size was valued at USD 4.23 billion in 2021 and is poised to grow from USD 4.6 billion in 2022 to USD 8.98 billion by 2030, growing at a CAGR of 8.7% in the forecast period (2023-2030).
Tablets are the most common medical dosage form provided by pharmaceutical companies. The primary objective of tablet design and manufacture is to deliver the correct amount of drug in an appropriate form orally. Design, manufacturing process and chemical content of the tablet has a significant impact on the efficacy of the drug. With high competition and increasing antibiotic resistance, pharmaceutical manufacturers are under pressure to develop more drugs to fight against powerful bacteria and chronic diseases. Tablets are processed into various shapes and forms using tablet packaging machines. These devices are designed to process tablets quickly, accurately and with flexibility. Due to the increasing demand in the pharmaceuticals industry globally, various types of packaging machinery are predicted to be in high demand in the coming years. Tablet processing equipment is used to convert large quantities of liquid or powder materials into small pieces, which are easy to handle. The main function of tablet processing equipment involves size reduction and breaking up of solid particles so that they can be easily incorporated into other products.
Tablet processing and packaging equipment is used to process and package tablets. This equipment is important because it helps ensure that tablets are processed and packaged properly, which helps improve their quality and effectiveness. The pharmaceutical industry uses a wide variety of liquids and each product, whether solid or liquid requires precise measurements. This packaging provides superior products, patient comfort and product protection as well as safety criteria. The latest pharmaceutical packaging equipment can include case packers, sealers, label applicators, hand packing stations and hard film over wrappers. Increased automation in pharm processing and packaging equipment market will boost efficiency; reduce housekeeping costs, and lower component costs. Growth in emerging economies offers significant growth opportunities for pharmaceutical packaging equipment suppliers. Many governments have started encouraging biopharmaceutical and pharmaceutical companies to develop and manufacture drugs for a variety of chronic and infectious diseases as well as highlighting the expansion of life science infrastructure through various projects. As a result of these developments, the demand for pharmaceutical packaging equipment will increase, which will further increase the growth rate of the market. Increasing aging population, rise in rates of chronic infectious diseases, increase in number of pharmaceutical companies and introduction of advanced technology are some of the major factors driving the growth of the tablet processing and packaging equipment market.
US Tablet Processing and Packaging Equipment Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 4.23 billion
Solid packaging equipment
Solid packaging equipment
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Global tablet processing and packaging equipment market is segmented on the basis of equipment type, packaging type and region. On the basis of equipment type global market is segmented into solid packaging equipment, semi-solid packaging equipment and liquid packaging equipment. On the basis of packaging type, global market is segmented into primary packaging and secondary packaging. On the basis of region, global market is divided into, North America, Europe, Asia-Pacific, Latin America, and MEA.
Analysis by Equipment Type
On the basis of product type global tablet processing and packaging equipment market is segmented into solid packaging equipment, semi-solid packaging equipment and liquid packaging equipment. The liquid packaging equipment segment has the largest market share in 2022 and is expected to grow at significant CAGR during forecast period. This growth is mainly due to higher production of liquid medicinal products in various sectors. Also, the demand for edibles and ear drops is increasing due to the increase in eye and ear disorders worldwide.
Analysis by Packaging Type
On the basis of packaging type, global tablet processing and packaging equipment market is segmented into primary packaging and secondary packaging. The primary packaging segment dominated the global market in 2022. Primary packaging is the first material that covers the products. Easy handling and increasing demand for pharmaceutical products lead to the growth of the primary packaging segment. The main function of primary packaging is to prevent climatic, chemical or biological hazards that cause spoilage. Growing need for aseptic filling and sealing of drug molecules in sterile containers and increasing demand for parenteral vials and prefillable syringes are supporting the growth of this segment.
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On the basis of region, global tablet processing and packaging equipment market is divided into, North America, Europe, Asia-Pacific, Latin America, and MEA. North America has major share in the global market. Increasing investments by major players in North America for manufacturing tablets on a large scale. Also, rising demand from the healthcare sector for innovative tablet products is also anticipated to drive growth over the forecast period.
Asia-Pacific tablet testing and packaging equipment market is expected to grow at the fastest CAGR. The market growth of this region is mainly due to increasing population, growing awareness of healthcare, increasing presence of pharmaceutical players, and rise in number of aging population, and increasing chronic & infectious diseases. For example, the made in China initiative taken by the Chinese government has also focused on increasing domestic production. Such initiatives are expected to boost the market in Asia-Pacific.
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Rising demand in active pharmaceutical ingredient (API)
High demand in Generics market
Demand of liquid packaging equipment
High cost of tablet packaging equipment
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The key market players are constantly adopting various growth strategies in order to stay in the market. Product launches, innovations, mergers & acquisitions, collaborations are some of the growth strategies that are adopted by these key players to stay in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions. Leading players are investing in manufacturing facility expansion to gain a competitive edge in the market.
Top Player's Company Profiles
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 by means of primary exploratory research backed by the robust secondary desk research.
According to our global tablet processing and packaging equipment market analysis, increasing aging population, rise in rates of chronic infectious diseases, increase in number of pharmaceutical companies and introduction of advanced technology are some of the major factors driving the growth of the tablet processing and packaging equipment market. By packaging type, liquid packaging equipment segment has the largest market share in 2022 and is expected to grow at significant CAGR during forecast period, due to its growing demand. North America has major share in the global tablet processing & packaging equipment market.
|Market size value in 2021||USD 4.23 billion|
|Market size value in 2030||USD 4.6 billion|
|Forecast Unit (Value)||USD Billion|
|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)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Tablet 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 Tablet 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.
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Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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