The growth of the global pharmaceutical packaging
equipment market is driven by the rapidly growing generic &
biopharmaceutical markets, growth in OTC drug sales, rising need for flexible
and integrated packaging equipment, increased offshore manufacturing in the
pharmaceuticals market, the introduction of regulatory standards on the
packaging, and stringent norms against counterfeiting. However, factors such as
the adoption of refurbished packaging equipment and the high cost of packaging
equipment are expected to restrain market growth to a certain extent during the
forecast period.
The global pharmaceutical packaging equipment market is projected to reach USD 11.9 Billion by 2027 from USD 8.4 Billion in 2022, at a CAGR of 7.2% from 2022 to 2027.
Market Segmentation:
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The primary packaging equipment segment accounted
for the largest share of the global market in 2021. The main function of
primary packaging is to restrict climatic, chemical, or biological hazards that
cause deterioration. The rising need for the aseptic filling and the sealing of
drug molecules into sterile containers and the increasing demand for parenteral
vials and prefillable syringes are supporting the growth of this segment.
Based on type, the market is segmented into liquid,
solid, semi-solid, and other packaging equipment. In 2021, the liquid packaging
equipment segment accounted for the largest share of the pharmaceutical
packaging equipment market. The large share of the liquid packaging equipment
segment is mainly attributed to the high production of liquid formulations and
the increasing incidence of eye and ear disorders across the globe.
Regional Analysis:
Europe is the largest regional market for pharmaceutical packaging equipment with a share in 2021. Growth in the European market is majorly driven by the high pharm aceutical production, increasing demand for flexible packaging equipment by major pharmaceutical manufacturers, and the rising focus on product diversification by companies, which is driving the demand for innovative packaging equipment. Regulatory changes are also compelling pharmaceutical manufacturers to replace their older equipment with new equipment to adhere to the changing standards.
Top Key Players: -
Prominent players in the pharmaceutical packaging
equipment market include Robert Bosch GmbH (Syntegon Technology GmbH) (Germany),
IMA S.p.A. (Italy),
Körber AG (Germany),
Coesia S.p.A (Italy),
Marchesini Group S.p.A (Italy),
Bausch+Ströbel Maschinefabrik Ilshofen GmbH+Co. KG (Germany),
Romaco Group (Germany),
Uhlmann Group (Germany),
Maquinaria Industries Dara, SL (US) and MULTIVAC Group (Germany).