The packaging of pharmaceutical products and drug delivery systems is an essential step in the pharmaceutical industry as it protects the pharmaceutical drug from moisture, oxygen, light, bacteria, and volatiles. It also helps protect the product during handling, storage, and transportation. Market growth is largely driven by the growth in the generic and biopharmaceutical markets, the growing need for flexible and integrated packaging equipment, the increase in offshore pharmaceutical manufacturing, growing contract manufacturing of pharmaceutical products, and the introduction of regulatory standards on packaging & stringent norms against counterfeit products.
Moreover, the pharmaceutical industry is witnessing a shift toward the use of biopharmaceuticals and biological drugs. This has led to an increased demand for innovative packages, which is further driving the growth of the pharmaceutical packaging equipment market. However, owing to lower capital investment capabilities, smaller pharmaceutical manufacturers in emerging markets across the APAC and Latin American regions prefer refurbished packaging equipment. This could restrain the growth of this market to a certain extent. Pharmaceutical quality and safety regulations extend to deeper levels of the industry, starting from the designing of the packaging equipment to manufacturing, supply, and storage. This has affected the growth of local players in the industry where non-compliance has resulted in severe economic losses for small businesses.
Market dynamics include market drivers, restraints and opportunities and an exhaustive analysis of these factors are included in the report. Market dynamics are the distinct factors which influence the growth of the market and thus help to analyze the current trends in the global market. Therefore, the report provides a comprehensive study of the global pharmaceutical packaging equipment market and also offers the forecast of the market for the period from 2019-2026.
The competitive profiling of the key players in the global pharmaceutical packaging equipment market has been exhaustively covered under the scope of the report. Furthermore, the different business strategies which have been adopted by the leading players in the global market have been included in this report. In order to provide a detailed insight into the market dynamics of global pharmaceutical packaging equipment market, the drivers and restraints affecting the industry are included in the study. Furthermore, market attractiveness analysis has also been provided in the report.
Trends and Opportunities
The pharmaceutical packaging equipment market is primarily driven by rapid growth in the pharmaceutical industry, stringent government regulations, standards, and demand for integrated packaging technologies. Furthermore, increasing demand from developing countries is likely to create growth opportunity for the global pharmaceutical packaging equipment market in the future. However, implementation of revamped packaging techniques is expected to hinder the growth of the market throughout the forecast period. Currently, due to the rapid growth in the pharmaceutical industry, there has been a surge in development of numerous advanced pharmaceutical packaging equipment with better reliability, tolerance limit and line speed. Moreover, rising need for patient compliance, quality norms, and anti-counterfeiting measures have significantly increased the production of innovative packaging lines, such as bottle filling and capping, cartoning, ointment, blister and tablet packaging among others.
Companies Mentioned in Report
Some of the leading players in the market are IMA S.P.A., Korber A.G., Marchesini Group Spa, Mg2 S.R.L., Multivac Group, Bausch and Strobel Maschinenfabrik Ilshofen GmbHCo. Kg, Optima Packaging Group GmbH, Robert Bosch GmbH, Romaco Pharmatechnik GmbH and Uhlmann Group.
Pharmaceutical Packaging Equipment market, by Product Types
Pharmaceutical Packaging Equipment market, by Package Types
Pharmaceutical Packaging Equipment market, by Geography: The market is broadly segmented on the basis of geography into:
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