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Home Press Release

Pharmaceutical Packaging Equipment Market worth $11.9 Billion by 2027

Press Room by Press Room
January 13, 2023
in Press Release
Pharmaceutical Packaging Equipment Market worth $11.9 Billion by 2027
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(EMAILWIRE.COM, January 13, 2023 )

The report “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.

Major Growth Driving Factors:

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.

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By Product, the primary packaging equipment segment is expected to account for the largest share of the pharmaceutical packaging equipment market

The primary packaging equipment segment accounted for the largest share of the global pharmaceutical packaging equipment 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.

On the basis of type, liquid packaging equipment segment is expected to account for the largest share of the pharmaceutical packaging equipment market

Based on type, the pharmaceutical packaging equipment 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.

Europe to dominate the pharmaceutical packaging equipment market during the forecast period

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 pharmaceutical 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.

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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).

Read More About Related Topics:

Active Pharmaceutical Ingredient Market – Global Future Forecasts to 2027

Pharmaceutical Packaging Market – Global Future Forecasts to 2026

Empty Capsules Market – Global Future Forecasts to 2026

Medical Packaging Market – Global Future Forecasts to 2022

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Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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