Pharmaceutical Packaging Machinery Market Size, Share, Growth, And Industry Analysis By Type (Blister Packaging Machinery, Strip Packaging Machinery, Filling and Capping Machinery, Cartoning Machinery, Wrapping Machinery, Tray Packing Machinery) By Application (Solid Pharmaceutical Packaging, Semi-Solids Packaging, Liquid Pharmaceutical Packaging, Others) Regional Forecast From 2024 To 2031

Updated On: 08 April 2024

FUEL CELL POWER GENERATION SYSTEMS MARKET SEGMENTATION

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The global pharmaceutical packaging machinery market size was USD 5590 million in 2021 and the market is expected to reach USD 10855.16 million in 2031, exhibiting a CAGR of 6.86 % during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with pharmaceutical packaging machinery market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels.

Packaging equipment is necessary for main and secondary packing, product labelling, and product coding in the pharmaceutical industry. To protect the pharmaceuticals and keep them clean, very advanced packing devices are needed. The need for packing equipment has also been boosted by legislation governing the serialization and tracking of pharmaceutical items.

It is anticipated that factors such as a growing population, greater knowledge of diseases, and high potential for spending on pharmaceutical products will propel the pharmaceutical sector, which will then propel the packaging equipment market. Additionally, various governments have made numerous efforts to make pharmaceuticals accessible to the general public at reasonable costs, which has raised the demand for packaging equipment globally.

COVID-19 Impact: COVID-19 Outbreak Surpass the Pharmaceutical Market Growth

The pharmaceutical processing and packaging equipment market has benefited from the ongoing worldwide COVID-19 pandemic. The COVID-19 pandemic enhanced the need for COVID-19 treatments. Due to the high demand for COVID-19 vaccines and medications, several pharmaceutical producers are expanding their manufacturing facilities. This plan is anticipated to increase demand for new processing and packaging machinery for COVID-19 treatments and vaccinations.

Due to COVID-19's primary disruption of the supply chain, pharmaceutical manufacturing was lagging in a number of nations. Public groups from different nations have increased domestic pharmaceutical production to address this issue and reduce reliance on imports.

Latest Trends

"Pharmaceutical Industry's Adoption Of Safety Standards And Regulations Is Anticipated To Drive the Market"

The highly regulated pharmaceutical sector places a strong emphasis on the production and packaging procedures' safety and sustainability. In order to combat the sale of fake medications and medical equipment, traceability laws have been implemented throughout the healthcare industry.

For instance, the US Food and Drug Administration (FDA) controls how medicines are made here. It carefully monitors drug manufacturers' adherence to its Current Good Manufacturing Practice (CGMP) requirements in order to assure the quality of drug products. The minimal standards for the processes, settings, and controls used in the production, processing, and packaging of a drug have been established by the CGMP laws for pharmaceuticals.

PHARMACEUTICAL PACKAGING MACHINERY MARKET SEGMENTATION 

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• By Type Analysis

According to type, the market can be segmented into Blister Packaging Machinery, Strip Packaging Machinery, Filling and Capping Machinery, Cartoning Machinery, Wrapping Machinery, Tray Packing Machinery. Blister Packaging Machinery segment will going to lead the market.

• By Application Analysis

Based on application, the market can be divided into Solid Pharmaceutical Packaging, Semi-Solids Packaging, Liquid Pharmaceutical Packaging, Others. Solid Pharmaceutical Packaging is anticipated to be the leading segment.

Driving Factors

"Demand For Active Pharmaceutical Industy (API) Is Increasing Leading Market Growth"

The creation of biological APIs raises demand for API packaging, which raises demand for short novel medication applications, which raises demand for pharmaceutical packaging equipment (ANDA). This raises the need in the pharmaceutical sector for cost-efficient and efficient designed product delivery methods.

"High Level Of Generics Market Demand Boost The Market Growth"

The development of pharmaceutical packaging equipment in the pharmaceutical industry is being fueled by the introduction of novel medications and the rising prevalence of chronic diseases. The market for pharmaceutical packaging equipment is anticipated to be driven by a rise in production volume in certain countries with low-cost manufacturing facilities.

Restraining Factors

"Preference For Used Machinery To Impede Growth"

Refurbished equipment is a practical substitute for new instruments for producers in situations when time and money are issues. This is especially true in low-cost manufacturing areas around the Asia Pacific, where regulatory standards are very lax. The authors found that buying used equipment can save costs by up to 45% compared to buying new machinery. Additionally, manufacturers can get updated or renewed versions of their current items, obviating the need to buy a new one. They did issue a warning, however, that if businesses want to maximize the operational effectiveness of a manufacturing facility, they must assess if refurbished equipment is compatible with their current manufacturing processes.

PHARMACEUTICAL PACKAGING MACHINERY MARKET REGIONAL INSIGHTS 

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"Asia-Pacific Is Expected To Have the Fastest Rate Of Growth"

The demand for pharmaceutical processing and packaging equipment is likely to increase due to the high volume of pharmaceutical production and consumption in Asia-Pacific nations, rising generic drug demand, booming contract manufacturing sector, and supportive government policies intended to increase domestic pharmaceutical production.

Asia-Pacific nations have developed domestic pharmaceutical manufacture to reduce their reliance on imports for medicinal items. For instance, the Chinese government's Made in China policy places a strong emphasis on raising domestic manufacturing. These initiatives are anticipated to fuel market expansion in the Asia-Pacific region.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Loveshaw Corp (U.S.)
• Romaco Pharmatechnik (Germany)
• Bradman Lake Group (U.K.)
• Marchesini Group Spa (U.S.)
• Multivac Group (Germany)
• Korber (Germany)
• Bausch & Strobel Maschinenfabrik Ilshofen (Germany)
• Optima Packaging Group (Germany)
• Norden Machinery AB (Sweden)
• Tetra Laval International S.A (Switzerland)
• Robert Bosch GmbH (Germany)
• Uhlmann Group and Winpak Ltd (Germany)
• Mg2 (italy)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.