DUBLIN--(BUSINESS WIRE)--The "World Pharmaceutical Packaging Equipment Market - Opportunities and Forecasts, 2017 - 2023" report has been added to ResearchAndMarkets.com's offering.
In order to thwart microbial growth and render the product contamination free, packaging plays a vital role and serves the purpose of safety throughout the shelf life of pharmaceuticals. In regulatory perspective, packaging has gained a significant importance and need critical compliance. The packaging equipment market for pharmaceutical has evolved from conventional packaging systems to modern and automated system, and it is well on its way to further growth.
The extensive growth over the past years experienced by packaging equipment market for pharmaceutical is attributed to key factors, namely technological advancement in drug delivery technology and shift in demand from conventional to modern, flexible and automated system. Majority of the drugs are going off-patent in the near future and it can be a critical driver to heighten the growth of this market in near future.
However, some of the factors responsible to suppress the growth of packaging equipment market, are high cost of raw material, raised competition and demand of renewed packaging equipment by smaller pharmaceutical manufacturers in APAC countries, to reduce the total cost of production. Asia -Pacific region is quite segregated and expected to show promising growth rate in near future, for pharmaceutical packaging equipment market. The reason for the growth of Asia-Pacific market is based on a fact that small manufacturers potentially produce basic units and contribute to larger production capacity.
Packaging Equipment Market for Pharmaceutical by Package Type
Based on package type, packaging equipment market for pharmaceutical is sub-categorized as primary and secondary packaging equipments. Primary package offer direct contact with product, whereas secondary package offers contact with primary package. Primary packaging equipments are further subcategorized as blister packaging, sachet packaging, strip packaging, soft tube filling, aseptic filling and sealing, bottle filling and capping, counting, and others. Secondary packaging equipment is further classified into cartoning, wrapping, tray packing, case packaging, and others. Larger share of packaging equipment market lies in the area of primary packaging equipment due to shift in preference of end user to unit dosage forms.
Packaging Equipment Market for Pharmaceutical by Product Type
Based on type of products, packaging equipment market for pharmaceutical is classified into solid, semisolid, liquid and other products packaging equipments. In solid packaging equipment, tablet-packaging equipment holds the largest share. Due to high demand for safe and efficacious products, aseptic liquids packaging equipment is a emerging segment in liquid section.
Packaging Equipment Market for Pharmaceutical by Geography
Geographically, packaging equipment market for pharmaceutical is bifurcated into North America, Europe, Asia and LAMEA. North America and Asia-pacific dominates the packaging equipment market for pharmaceuticals. The reasons attributed are development of integrated pharmaceutical packaging lines that reduces downtime of packaging, high investment by big organizations, technological advancement and increase in number of FDA approved manufacturing sites in emerging economies. In Asia-Pacific region, India and China are promising locations.
The key leaders for packaging equipment market for pharmaceuticals include:
- Robert Bosch GmbH
- Uhlmann Group
- Mg2 S.R.L
- Multivac Group
- Korber Ag
- Marchesini Group S.p.a.
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