Key Trends Shaping the Pharmaceutical Packaging Equipment MarketPosted by snehal shaha on July 3rd, 2023 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. The global 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. Download PDF Brochure:-https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=19845828 KEY MARKET DYNAMICS 1 DRIVERS 1 High growth in generics & biopharmaceuticals markets 2 Growing need for flexible and integrated packaging equipment 3 Increase in offshore pharmaceutical manufacturing 4 Growing contract manufacturing of pharmaceutical products 5 Introduction of regulatory standards on packaging and stringent norms against counterfeit products 2 RESTRAINTS 1 Growing preference for refurbished equipment 3 OPPORTUNITIES 1 Growth of pharmaceutical manufacturing in emerging economies 2 Rising demand for automated packaging 3 Change in medication systems to self-medication and self-care 4 Increasing pharmaceutical R&D investments 4 CHALLENGES 1 Growth in personalized and precision medicine supply chain 2 Uncertainties in regulations and standards of pharmaceutical packaging process Market Segmentation: - Regional Analysis: 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 pharm aceutical 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. Inquiry Before Buying : - https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=19845828 Recent Developments
Top 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). Like it? Share it!More by this author |