LONDON--(BUSINESS WIRE)--The global vial cap sealing machines market is expected to grow at a CAGR of close to 5% during the period 2018-2022, according to a new market research study by Technavio.
The report categorizes the global vial cap sealing machines market by the geographic breakdown in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA. The Americas dominate the market with approximately 44% of the market share in 2017. The growth can be attributed to the strong and growing demand from the pharmaceutical industry in this region.
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Market driver: increasing demand from pharmaceutical industry
The vial cap sealing machine is a vital equipment for the pharmaceutical industry because vials are primarily used to stock medicines that are in a liquid or powder form. A single-dose vial is a unit dose used for a single patient when used for parental administration as an injection or an infusion. Single-dose vials are labeled by manufacturers and do not contain antibacterial preservatives. For the parental administration of more than one dose of medication, a multi-dose vial is used. They are labeled by the manufacturers and compulsorily contain an antibacterial preservative to prevent the growth of bacteria and microorganisms.
According to a senior analyst at Technavio for packaging research, “The rise in demand for pharmaceutical drugs is driving the market for vial packaging and simultaneously, the global vial cap sealing machines market. There is a growing production of vials in the global pharmaceutical industry due to the presence of major companies in the market. The initial focus of these companies is business expansion and to gain a strong market position.”
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Market trend: increasing use of multipacks
Packaging types such as paperboard overwraps, corrugated fiberboard boxes, cartons, paperboard baskets, high-density polyethylene plastic handles, shrink packs, and six-pack rings are known as multipack packaging. The combination of several items in a single package offers several benefits to retailers, manufacturers, and consumers. Multipack packaging contributes to the sale of large units and prevents any pilferage of products. As multipack packaging reduces the overall cost of packaging, the demand for it is high. To attract more customers, manufacturers rely on a special packaging to sell many forms of the same items in a single pack at a reduced price.
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Some of the contributors in the market
- The Adelphi Group of Companies
- Closure Systems International
- Dynamic Engitech
- Flexicon
The global vial cap sealing machines market is facing high demand from retailers and consumers for eco-friendly and sustainable packaging solutions. The players in the market compete on machine quality, reliability, pricing, capability of a machine in handling multiple packaging materials, and the use of latest technologies. Players are focusing on various events across the world to showcase their products and technologies. To gain a competitive advantage in the market, the players are focusing on innovative solutions.
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