The Pharmaceutical Packaging Testing Equipment by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Pharmaceutical Packaging Testing Equipment, The pharmaceutical packaging testing equipment market size has grown steadily in recent years. It will grow from $3.97 billion in 2023 to $4.15 billion in 2024 at a compound annual growth rate (CAGR) of 4.6%. The growth in the historic period can be attributed to stringent regulatory standards, rising pharmaceutical production, focus on patient safety, globalization of pharmaceutical supply chains, increasing number of drug recalls.
The pharmaceutical packaging testing equipment market size is expected to see strong growth in the next few years. It will grow to $5.09 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to continued regulatory pressure, increasing focus on sustainability, shift toward biologics and personalized medicine, innovative packaging materials, emphasis on patient safety. Major trends in the forecast period include advancements in technology, regulatory compliance, quality assurance and control, data integrity and connectivity, customization and flexibility.
The expansion of the pharmaceutical industry is a major driver propelling the pharmaceutical packaging testing equipment market. Pharmaceutical products refer to research, creation, and production in the pharmaceutical industry. It involves many different things, including research, chemicals, regulation, and the engagement of government organizations. Pharmaceutical packaging testing equipment helps the growth of the pharmaceutical industry by enabling globally improved regulatory flexibility and increased government cooperation, which resulted in the pharma industry's largely avoiding supply chain and API disruptions. As a result, major companies announced expansions. For instance, in May 2022, Eli Lilly, a USA-based pharmaceutical company, announced plans to build two new manufacturing sites with a $2.1 billion investment in its LEAP Lebanon Innovation and Research District. Therefore, the expansion of the pharmaceutical industry will continue to drive the pharmaceutical packaging testing equipment market.
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The pharmaceutical packaging testing equipment market covered in this report is segmented –
1) By Type: Services, Equipment
2) By Product: Primary Packaging Equipment, Secondary Packaging Equipment, Labeling And Serialization Equipment
3) By End User: Pharmaceutical Companies, Contract Research Organizations, Government Organizations, Research Institutions, Testing Laboratories
Top Major Players:
- Labthink International Inc.
- Union Park Capital LLC
- West Pharmaceutical Services Inc.
- Qualitest International Inc.
- AMETEK Inc.
North America was the largest region in the pharmaceutical packaging testing equipment market in 2023.
Technological innovation is a key trend in the pharmaceutical packaging testing equipment market. Pharmaceutical packaging testing equipment provides efficient solutions for preparing pharmaceutical and nutraceutical products for distribution. The most recent equipment for pharmaceutical packaging may include hard film over wrappers, case packers, label applicators, sealers, and label applicators. The COVID-19 pandemic forced companies to innovate and design no-contact packaging solutions. For instance, in August 2022, Testronix Instruments, an India-based manufacturing company, launched a next-generation packaging testing instruments to meet the growing demand for accurate and reliable packaging testing.
The pharmaceutical packaging testing equipment market report table of contents includes:
1. Executive Summary
2. Pharmaceutical Packaging Testing Equipment Market Characteristics
3. Global Pharmaceutical Packaging Testing Equipment Market Trends And Strategies
4. Pharmaceutical Packaging Testing Equipment Market - Macro Economic Scenario
5. Global Pharmaceutical Packaging Testing Equipment Market Size and Growth
…….
26. Global Pharmaceutical Packaging Testing Equipment Market Competitive Benchmarking
27. Global Pharmaceutical Packaging Testing Equipment Market Competitive Dashboard
28. Key Mergers and Acquisitions Pharmaceutical Packaging Testing Equipment Market
29. Pharmaceutical Packaging Testing Equipment Market Future Outlook and Potential Analysis
30. Appendix
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The growth of the global pharmaceutical packaging equipment industry 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 global Pharmaceutical Packaging Equipment Market size is projected to reach USD 10.4 billion by 2025 from USD 7.3 billion in 2020, at a CAGR of 7.4% from 2020 to 2025.Ask for Free PDF Brochure: –https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=19845828Market Segmentation:-On the basis of product, the pharmaceutical packaging equipment market is segmented into primary packaging equipment, secondary packaging equipment, and labeling and serialization equipment.
In 2019, 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 Industry 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.Key Market Drivers: – 1 High growth in the generics and biopharmaceuticals markets 2 Growing need for flexible and integrated packaging equipment 3 Increase in offshore pharmaceutical manufacturingRegional Analysis:-Geographically, the Pharmaceutical Packaging Equipment Industry is segmented into North America, Europe, the Asia Pacific, Latin America, and Middle East & Africa.
Growth in the European market is driven majorly by the high pharmaceutical production, increasing demand for flexible packaging equipment by major pharmaceutical manufacturers, and the rising focus on product diversification by companies, driving the demand for innovative packaging equipment.Request for Free Sample Pages :-https://www.marketsandmarkets.com/requestsampleNew.asp?id=19845828 Top Key Players:-The prominent players in this market are Syntegon Technology (Germany), IMA S.p.A. (Italy), Körber AG (Germany), Uhlmann Group (Germany), OPTIMA Packaging Group (Germany), Romaco Holding (Germany), Marchesini Group (Italy), ACG Worldwide (India), Coesia S.p.A. (Italy) and MULTIVAC Group (Germany).
Also, it highlights the in-depth marketing research with the newest trends, drivers, and segments with reference to regional and country.
Further, this report profiles top key players and analyze their market share, strategic development, and other development across the world.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the pharmaceutical packaging equipment market include Bausch+Strobel Maschinenfabrik Ilshofen GmbH+Co.
KG, IMA S.P.A., Körber AG, Marchesini Group S.p.A., Mg2 s.r.l., MULTIVAC Group, OPTIMA Packaging Group GmbH, Robert Bosch GmbH, Romaco Pharmatechnik GmbH and Uhlmann Pac-Systeme GmbH & Co. KG.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Pharmaceutical Packaging Equipment Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/pharmaceutical-packaging-equipment-market/download-sampleMarket DynamicsThe rapidly growing generic and biopharmaceutical sector along with an increasing need for flexible and integrated packaging equipment is primarily driving the market growth.
In addition to this, the introduction of regulatory standards on packaging & stringent norms against counterfeit products is further fuelling market growth.
The global pharmaceutical packaging equipment market size is expected to reach USD 12.05 billion by 2025, expanding at a CAGR of 7.0% over the forecast period, according to a new report by Radiant Insights, Inc.
The market is primarily driven by growing awareness regarding health and hygiene, coupled with increased spending on pharmaceutical products, mainly in the emerging economies.
The growing healthcare sector is projected to have a positive impact on the packaging equipment sector since it is widely used for the packing of capsules, tablets, liquids, antiseptic creams, among others.
Download Free Sample Report @ https://www.radiantinsights.com/research/pharmaceutical-packaging-equipment-market/request-sample Several packaging equipment manufacturers have undertaken R initiatives to produce highly sophisticated and efficient equipment at competitive prices.
Furthermore, there is a continued demand for complete packing lines that can incorporate numerous functions from a single source and for modular machines that can offer flexibility driven by the increased variety of packing materials and styles.
Further Key Findings from the Report Suggest: • Wrapping machine segment is anticipated to progress at a CAGR of 8.5% over the forecast period on account of the growing need for secondary and tertiary packaging of pharma products • Asia Pacific emerged as the leading regional pharmaceutical packaging equipment market and accounted for 37.1% of the overall revenue share in 2018 owing to the presence of high potential geographies including China and India and their expanding pharmaceutical manufacturing • Europe emerged as the second-largest regional market and held a share of 31.4% in terms of revenue in 2018.
