Meticulous Research®– a leading global market research company published a research report titled “Pharmaceutical Processing and Packaging Equipment Market by Mode of Delivery (Oral, Parenteral, Topical), Secondary Packaging (Cartoning, Labelling, Serialization) and End-of-Line Packaging (Palletizing, Case Packaging) - Global Forecasts to 2028.”
According to this latest publication from Meticulous Research®, the global pharmaceutical processing and packaging equipment market is expected to grow at a CAGR of 4.5% from $18.5 billion in 2021 to $25.2 billion by 2028.
Factors driving the growth of the market include the expanding pharmaceutical arena, a shift in demand towards generic drugs, an increase in demand for flexible manufacturing, government initiatives in several developing countries to increase local pharmaceutical production, and a growing trend of contract manufacturing.
Pharmaceutical Processing and Packaging Equipment Market: Future Outlook
The global pharmaceutical processing and packaging equipment market study presents historical market data in terms of values (2019 and 2020), estimated current data (2021), and forecasts for 2028 – Processing and Primary Packaging Market based on Formulations (Oral, Parenteral, Topical, and Other Formulations), Secondary Packaging (Cartoning Equipment, Carton Labeling & Serialization Equipment, Wrapping Equipment, and Other Equipment), End-of-Line (Case Packaging, Palletizing & Depalletizing Equipment, and Other Equipment), and Geography.
Based on the type of secondary packaging equipment, in 2021, the cartoning equipment segment is estimated to account for the largest market share. The recommendation by regulatory bodies to use cartons for packing pharmaceuticals, ease of handling medication in cartons, and lightweight and cost-effective nature of cartons are the key factors driving the market.
Based on the end-of-line packaging equipment market, the case packaging segment is estimated to account for the largest share of the market in 2021. The significant incidence of counterfeit medicines and increasing export & import of pharmaceuticals are the key factors driving the demand for case packaging equipment.
This research report analyzes major geographies and provides comprehensive analysis for North America (U.S. and Canada), Europe (Switzerland, Italy, Germany, U.K., France, Ireland, Spain, Denmark, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, and RoAPAC), Latin America, and Middle East & Africa.
In 2021, North America is estimated to command the largest share of the global pharmaceutical processing and packaging equipment market, followed by Europe and Asia-Pacific. The large pharmaceutical industry, increasing R&D expenditure, and shift towards generic drugs due to increasing healthcare costs are the factors driving the growth of this regional segment. However, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period.
The key players operating in the global pharmaceutical processing and packaging equipment market are ACIC Pharmaceuticals Inc. (Canada), Bausch+Ströbel (Germany), IDEX Corporation (U.S.), JEKSON VISION (India), Kevin Process Technologies Pvt. Ltd. (India), KIKUSUI SEISAKUSHO LTD. (Japan), Korber AG (Germany), KORSCH AG (Germany), M.A.R. S.p.A Macchine Automatiche Riempitrici (Italy), MAQUINARIA INDUSTRIAL DARA, SL (Spain), Marchesini Group S.p.A. (Italy), OPTEL GROUP (Canada), OPTIMA packaging group GmbH (Germany), Syntegon Technology GmbH (Germany), Wenzhou Trustar Machinery Technology Co., Ltd (China), Sainty Co(China), ACG (India), ANTARES VISION S.p.A. (Italy), BREVETTI CEA S.P.A (Italy), Cadmach Machinery Co. Pvt. Ltd (India), CAM Packaging IT (Italy), Coesia S.p.A (Italy), Fette Compacting (Germany), Freund Corporation (Japan), GEA GROUP (Germany), Glatt GmbH (Germany), LINXIS GROUP (France), Harro Höfliger Verpackungsmaschinen GmbH (Germany), I.M.A INDUSTRIA MACCHINE AUTOMATICHE S.P.A (Italy), Uhlmann Pac-Systeme GmbH & Co. KG (Germany), Truking Technology Limited (China), and Tecnomaco Italia SRL (Italy).
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