Albany, NY -- (SBWIRE) -- 06/20/2017 -- Global Pharmaceutical Packaging Equipment Market: Snapshot
The demand for flexible and automated packaging equipment is fuelled by growth witnessed in the pharmaceutical industry. Stringent regulations enforced by the National Quality Forum, Food and Drug Administration, and other regulatory authorities have further compelled pharmaceutical companies to deploy advanced methods of packaging. These factors have spiked the investment in the pharmaceutical industry, in turn fuelling opportunities for the pharmaceutical packaging equipment market.
The next few years are expected to be extremely crucial for the market as pharma companies engage in the development of novel therapeutics. To offer innovative packaging solutions in tune with specific requirements of novel medicaments, without compromising on environmental ethics is what the leading players are targeting on. While in developed regions, this transition to innovative techniques didn't create much fuss in the pharmaceutical packaging equipment market, manufacturers in emerging nations are still reeling under high cost burden. A significant number of smaller companies in Latin America and Asia Pacific have therefore opted for refurbished packaging equipment. While this may hinder the market's trajectory, the rising investment in the development of myriad advanced packaging techniques with improved tolerance limit, better reliability, and high line speed will fuel growth opportunities for the market in the near future.
In addition paradigm shift from conventional packaging to more integrated and flexible packaging techniques will fuel the demand for advanced pharmaceutical packaging equipment. Spurred by these factors, the global pharmaceutical packaging equipment market will exhibit a CAGR of 6.7% between 2017 and 2025. At this pace, the market's valuation will reach US$10.69 bn by the end of 2025, from US$5.97 in 2016.
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Primary Pharmaceutical Packaging Equipment to Continue Witnessing Higher Demand
The global pharmaceutical packaging equipment market, by product type is divided into three major segments, which include solids packaging equipment, semi-solids packaging equipment and liquids packaging equipment. Liquids packaging equipment held the largest share in global pharmaceutical packaging equipment market in 2016. The segment is gaining from the increasing use of liquid dosages for effective filling of liquid products with high precision and accuracy. The major reason is attributed to increasing usage of liquid dosages by end users and demand for effective filling of liquid products with high precision and accuracy. The market for liquid packaging equipment is further segmented into eye or ear drop packaging equipment, aerosol packaging equipment and syrup packaging equipment. Furthermore, the market for solids packaging equipment is classified into tablet packaging equipment, capsule packaging equipment and powder packaging equipment.
Based on package type, the global pharmaceutical packaging equipment market can be bifurcated into primary packaging equipment and secondary packaging equipment. Of these, primary packaging equipment constituted the leading segment in 2016 on account of the rising demand for unit dosage forms. Exhibiting a CAGR of 6.6% between 2-17 and 2025, the segment is forecast to remain the lead through the forecast period. The market for primary packaging equipment is further divided into aseptic filling and sealing equipment, bottle filling and capping equipment, blister packaging equipment, soft tube filling and sealing equipment, sachet packaging equipment and others. Furthermore, the market for secondary packaging equipment is classified into cartoning equipment, case packaging equipment, wrapping equipment and others.
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North America Emerges as Dominant Regional Market for Pharmaceutical Packaging Equipment
The global pharmaceutical packaging equipment market has been segmented broadly into North America, Europe, Asia Pacific, Middle East and Africa and Latin America. In terms of revenue, North America acquired the largest share of 31.8% in the market in 2016. The increasing investment in the development of novel medicaments along with expansion of the pharmaceutical industry has fuelled the deployment of advanced pharmaceutical packaging equipment in this region. Due to the growing demand for efficient and accurate filling of liquid products in the pharmaceutical sector, rising demand for liquid dosage products among patients, and expansion of pharmaceutical packaging equipment manufacturing facilities in emerging economies, the pharmaceutical packaging equipment market will tread along a positive curve through the forecast period.
Some of the leading players in the pharmaceutical packaging equipment market are Korber A.G., Mg2 S.R.L., IMA S.P.A., Robert Bosch GmbH, Multivac Group, Bausch and Strobel Maschinenfabrik Ilshofen GmbHCo. Kg, Optima Packaging Group GmbH, Marchesini Group Spa, Uhlmann Group and Romaco Pharmatechnik GmbH.