Seattle, Washington Jul 5, 2019 (Issuewire.com) - The Global Pharmaceutical Packaging Equipment Market, by Product (Primary Packaging Equipment, Secondary Packaging Equipment, and Labeling and Serialization Equipment) by Type (Liquids Packaging Equipment, Solid Packaging Equipment, Semi-Solid Packaging Equipment, and Other Products Packaging Equipment), by End-User (Pharmaceutical Manufacturing, Contract Packaging, Retail Pharmacy, Institutional Pharmacy, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued US$ 7.3 Billion in 2018, and is projected to exhibit a CAGR of 8.2% during the forecast period (2018 - 2026) as highlighted in a new report published by Coherent Market Insights.
Some of the major players operating in the global pharmaceutical packaging equipment market include Robert Bosch GmbH, Industria Macchine Automatiche S.p.A., Marchesini Group S.p.A., Korber AG, MG2 s.r.l., Accutek Packaging Equipment Companies, Inc., Vanguard Pharmaceuticals Machinery, Inc., Romaco Pharmatechnik GmbH, Bausch + Ströbel Maschinenfabrik Ilshofen GmbH+Co. KG, and OPTIMA Packaging Group GmbH
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Pharmaceutical packaging protects products from physical, chemical, and microbiological damage. It is also a medium to present ads and useful details to consumers. In pharmaceutical packaging, customers always prefer efficient packaging that can maintain the quality of the product. Pharmaceutical packaging is very sensitive towards outdoor elements such as light and moisture.
For instance, in May 2018, Italy-based IMA Group companies- IMA Life and IMA Active, a companies engaged in design and manufacturing of automatic machines for the processing and packaging of pharmaceuticals, cosmetics, food, tea and coffee–introduced new sales team in India that focuses on sales and services of solid dose, aseptic processing, filling technology, and freeze-drying solutions. During the launch of this equipment, the company dedicated its special focus on the marketing of Quantum, a new non-invasive technique capable of performing quantitative real-time process measurements that were applied to freeze-drying and to the continuous freeze drying process.
Browse 26 Market Data Tables and 31 Figures spread through 188 Pages and in-depth TOC on "Pharmaceutical Packaging Equipment Market, by Product (Primary Packaging Equipment, Secondary Packaging Equipment, and Labeling and Serialization Equipment), by Type (Liquids Packaging Equipment, Solid Packaging Equipment, Semi-Solid Packaging Equipment, and Other Products Packaging Equipment), by End-User (Pharmaceutical Manufacturing, Contract Packaging, Retail Pharmacy, Institutional Pharmacy, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2026"
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Furthermore, key players in the pharmaceutical packaging equipment market are focused on introducing innovative equipment, which offers improved accessibility and speed in pharmaceutical packaging processes. For instance, in December 2018, JVM — a subsidiary of Hanmi Pharmaceutical — introduced NS20 — a pharmaceutical packaging machine, which can prevent packaging errors of pharmaceuticals while speeding up the automatic dispensing procedure and can save wrapping paper. NS20 is based on ACRS- III technology, which automatically recognizes the position of a canister containing a drug. The platform automatically stops packaging when it detects the wrong medication during preparation. The NS20 model is suitable for large pharmacies and hospital pharmacies and comes with the latest automatic sensor and communication technology ACRS-III and ATDPS — a conventional automatic medicine classification and packaging system.
Key Takeaways of the Pharmaceutical Packaging Equipment Market:
The global pharmaceutical packaging equipment market is expected to witness a CAGR of 8.2% during the forecast period (2018 – 2026), owing to the increasing need for flexible and integrated packaging equipment
Among product, the primary packaging equipment segment accounted for major market share in 2017. This is mainly attributed to the ease of handling offered by primary pharmaceutical packaging equipment, development of novel forms of drug delivery and biopharmaceuticals, and the increasing norms of and quality criteria. Furthermore, primary packaging performs the central function to protect and preserve products from damage, external hindrance or contamination, spoilage, and chemical imbalances. Primary packaging also helps to store products for long durations and keeps the product completely sealed from the surroundings.
Among type, liquids packaging equipment segment accounted for major market share in 2017. Reagents and kits are an integral and inevitable part of pharmaceutical packaging. The demand for reagents and kits is high, owing to their increasing adoption in diagnosis and treatment regime of infectious disease such as HIV diagnostic assay, tuberculosis infection, Zika virus infection, among others. Moreover, high demand for complex formulations, increasing incidences of eye disorders, and development of novel drug delivery systems is expected to boost the growth of the segment.
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Among end user, pharmaceutical manufacturing segment held a major market share in 2017 and is expected to retain its dominance throughout the forecast period. This is mainly due to the presence of in-house packaging facilities in the manufacturing locations of industry participants. Pharmaceutical manufacturing incurs major demand for packaging equipment due to high end-use consumption of packaging products.
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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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