Global Pharmaceutical Packaging Equipment Market (COVID-19 Factor) – Growth Prospects, Competitor Analysis, Regional Insights, Market Trend Analysis, SWOT Analysis and Forecast 2021-2026

The compound annual growth rate (CAGR) for the 2021-2026 period is projected to be 6.29% base on WKI regression analysis model.

google-assistant:-the-command-“ok-google”-is-no-longer-essential

The market for pharmaceutical packaging equipment is forecast to grow rapidly over the next five years. According to the World Knowledge Information (WKI) “Global Pharmaceutical Packaging Equipment Market Insight 2021, Forecast to 2026”, The growth of the market is driven by the rapidly growing generic and biopharmaceutical markets, growth in OTC drug sales, rising need for flexible and integrated packaging equipment, increased offshore manufacturing in the pharmaceuticals market, and the introduction of regulatory standards on packaging and stringent norms against counterfeiting. The compound annual growth rate (CAGR) for the 2021-2026 period is projected to be 6.29% base on WKI regression analysis model.

Request Sample Copy of Pharmaceutical Packaging Equipment Market Report

https://www.wkinformation.com/shop/global-pharmaceutical-packaging-equipment-market-covid-19-factor-growth-prospects-competitor-analysis-regional-insights-market-trend-analysis-swot-analysis-and-forecast-2021-2026/

 

Analyst view:

“Currently, there is a heavy influx of refurbished packaging machinery in the global pharmaceutical manufacturing arena. The purchase of refurbished equipment can save approximately 40–45% of the costs incurred on purchasing new machinery, thus lowering the capital expenditure required in setting up a new production line. However, the evaluation of the compatibility of equipment with existing manufacturing operations is a must to optimize the operational efficiency of a manufacturing facility.” said Terry, Senior analyst, Equipment Market Research Center in WKI,” Therefore, for market participants, more attention should be paid to the safety and practicality of equipment.”.

Related market information:

The COVID-19 pandemic has largely impacted healthcare delivery globally since December 2019. Due to the coronavirus pandemic, the number of R&D procedures performed in pharmaceutical companies has increased significantly. Scientists and researchers worldwide are engaged in the development of vaccines and drugs for the treatment of coronavirus. This scenario is expected to have a direct impact on the pharmaceutical packaging equipment market. For instance, Syntegon Technology, formerly known as Bosch Packaging Technology, has witnessed an increase in the sales of pharmaceutical packaging equipment due to the coronavirus outbreak across the globe. The company also showcased its latest process and packaging technologies at a virtual trade show. The objective was to emphasize on substantial and intelligent technologies for the pharmaceutical and food industries. Also, Syntegon has expanded its customer service activities and introduced new measures that include providing customer services through digital platforms and increased spare parts deliveries.

The global pharmaceuticals market is expected to witness healthy growth in the coming years owing to rising healthcare spending, the introduction of novel drugs, and the increasing prevalence of chronic diseases. A large number of blockbuster drugs have also lost their patents in recent years, with more to follow in the coming years. This will enable the entry of low-cost generic counterparts in the market, which are likely to boost the volume of drugs sold. By the end of 2018, when patents for several prescription products expired in mature markets such as the US and the UK, the overall sales of these drugs were set to abridge by more than USD 100 billion. However, in actual terms, the sales volume increased, driven by growth in the sales of their generic and biopharmaceutical counterparts. This growth in production volume is expected to drive the packaging equipment market for generic drug manufacturing, especially in countries with low-cost manufacturing facilities across Latin America and the Asia Pacific. The growth in the demand for pharmaceutical drugs is expected to increase the need for efficient packaging systems, which, in turn, will drive the market for automated equipment to ensure high-speed packaging output.

Company:

Some of the key players operating in the pharmaceutical packaging equipment market include Syntegon Technology, IMA S.p.A., Körber AG, Uhlmann Group, OPTIMA Packaging Group, Romaco Holding Marchesini Group, ACG Worldwide, Coesia S.p.A.and MULTIVAC Group. Busch Machinery, Inline Filling Systems, Dara Pharmaceutical Packaging, Duke Technologies, and ARPAC LLC. Accutek Packaging Equipment Company, Vanguard Pharmaceuticals Equipment.

These companies are engaged in providing extensive, customized pharmaceutical packaging types of machinery. The presence of a large number of manufacturers in the global market has led the key players to invest in innovative techniques to maintain their market share and gain a competitive advantage. Key participants are majorly investing in innovative technologies like robotics, big data, and Human Machine Interface (HMI) to produce highly productive and efficient machines.
Type and Application

Based on the product, the pharmaceutical packaging equipment market is segmented into primary packaging equipment, secondary packaging equipment, and labeling and serialization equipment. At present the primary packaging equipment segment accounted for the largest share of the pharmaceutical packaging equipment market. 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 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 pharmaceutical packaging equipment market is segmented into liquid, solid, semi-solid, and other packaging equipment. In 2019, the liquid packaging equipment segment accounted for the largest share of the pharmaceutical packaging equipment market, followed by solid and semi-solid packaging equipment segments. The largest share can be attributed to the wide range of applications of liquid pharmaceutical dosage as they can be administered via either the oral or the parenteral route. Their palatability makes them a product of choice for geriatric and pediatric patients.

Request for Customization

https://www.wkinformation.com/shop/global-pharmaceutical-packaging-equipment-market-covid-19-factor-growth-prospects-competitor-analysis-regional-insights-market-trend-analysis-swot-analysis-and-forecast-2021-2026/

Geography:

In terms of geography, the global pharmaceutical packaging equipment market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa. The demand for pharmaceutical packaging equipment in Europe was valued at large share and is dominated by the rapidly growing pharmaceutical industry in Germany, Italy, UK, and Russia. The majority of the global manufacturers of packaging equipment are based in Europe, particularly in Germany and Italy, and also account for a significant share of the total exports of the machines across the globe. In terms of revenue, Asia Pacific emerged as the leading regional market. This growth is likely to be fueled by the expansion of the pharmaceutical sector in the region, especially in the developing economies of Asia Pacific. In addition, several global players have set up their manufacturing facilities in the region, especially in China and India, to cater to the demand from numerous end-use industries and also gain cost advantages. North America is anticipated to be the fastest-growing market for pharmaceutical packaging equipment. The growth is attributed to growing investments in the pharmaceutical sector by the U.S., coupled with the growing demand for technologically advanced, flexible, and integrated machinery.

Recent development:

In July 2020, OPTIMA Packaging Group (Germany) launched OPTIMA FPA. This product launch has strengthened the company’s automated packaging solutions portfolio.
In July 2020, Romaco Holding (Germany) launched Macofar’s MicroRobot 50. This product launch has strengthened the company’s filling machine portfolio.
In February 2020, MG2 (Italy) and Pharm Alliance (UK) undertook a partnership to strengthen MG2’s presence in the French pharmaceutical market.
In March 2019, MULTIVAC established a new production facility in China to cater to the requirements of customers in China with even greater focus and speed to manufacture packaging machines.
In June 2018, IMA acquired a 70% stake in Ciemme. This acquisition helped the company to broaden the portfolio of its end-line automatic cartooning machines.

Contact us:

Joe – Sale Manager
Joe.j@wkinformation/infor@wkinformation.com
Link: www.wkinformation.com
Tel: +1 8667393133 / +86 15650750786

Wkinformation

About us:Founded in 2010, WKinformation, a leading niche market information consulting company in the world, is headquartered in Shanghai, China and has offices in Hongkong, North America, Europe and other regions. Over the years, WKinformation has become an industry leading expert trusted by thousands of enterprises through efforts by its effective knowledge management, advanced research mechanism, in-depth researches, and professionalism.
Back to top button