iCrowd Newswire
23 Nov 2020, 20:56 GMT+10
The Global Pharmaceutical Packaging Equipment market was valued at USD 7,352.82 million in 2019 and is expected to reach USD 12,006.32 million by 2027, growing at a CAGR of 6.51% from 2020 to 2027.
Pharmaceutical packaging prepares the pharmaceutical and nutraceutical products for distribution, without any damage or loss. It is an integral process for the pharmaceutical industry, as it assures the quality, durability, and safety of products such as drugs, medicines ,injections, etc. The packing process is also being modified with the evolution of technology.
The complete cycle of packaging refers to primary packaging, secondary sealing followed by labelling and sterilization process, and tertiary wrapping. These advanced, automated, and no human touch processing meets the packing need for basic as well as specialized pharmaceutical products, irrespective of its state. The upsurge demand for the generic pharmaceuticals has boosted the need for advanced pharmaceutical packaging devices in recent years.
Get Sample Copy of this Report @ https://qualiketresearch.com/request-sample/Pharmaceutical-Packaging-Equipment-Market/request-sample
The pharmaceutical packaging equipment market is expected to have steady growth, owing to the increasing demand for Generic and Biopharmaceutical products along with the growing incidence of chronic diseases such as cardiovascular diseases, Alzheimer's, etc. The on-going researches for an innovative drug delivery system coupled with the growing pharmaceutical industry are also responsible for adding thrust to global pharmaceutical packaging equipment market potential. Other factors such as the maintenance of high accuracy wrapping, increasing demand for OTC drugs, and the evolution of contract manufacturing of drugs also aids in boosting the requirement for advanced packaging solutions in the pharmacological industry.
Based on the product, the primary packing segment holds the majority of market share and is projected to have the same growth rate during the next decade. The requirement for unit dosage forms, by the end-users, is the major factor offering exponential growth to the primary packaging devices segment. Also, easy handling and stacking of primary packed drugs and the invention of novel drug delivery systems serve to be the growth-supporting factors, boosting the demand for primary packaging devices, globally.
Based on Type, Strip packaging dominated the overall primary pharmaceutical packaging market in the year 2019 and expected to continue its dominance over the forecast period. The dominance is supported by factors such as increasing usage of medicine couple with rising aging population across the globe. Moreover, change in the lifestyle caused increase in health-related issue among population.
Drivers: The increasing need for flexible and integrated packaging
The growing need for integrated and flexible packaging is a major factor expected to propel the growth of the global pharmaceutical packaging equipment market. To meet the consumer's demand for integrated packaging, many pharmaceutical manufacturers and are offering wide range of flexible packaging equipment for tablet, capsule, gel, injectables, oral dosage powder & liquid, etc
Challenges: Higher cost associated with raw material used for packaging
The higher costs of raw materials used in pharmaceutical product packaging is the major factor expected to restrict the growth of the global pharmaceutical packaging equipment market in the coming future. The raw materials used for packaging include plastic, glass, polymers, paper boards, and aluminium foil. For instance, according to the European Association of plastics & Recovery Organizations (EPRO), 19 countries in the Europe had plastic pharmaceutical packaging recycling rates higher than 35%. Whereas, Czechia and Germany achieved a recycling rate of 50% or more
Trends: Advanced Packaging solutions for medications
The safe packaging of pharmaceutical products is significant so that therapeutic products and medications reach patients safely. Hence, the pharmaceutical companies are increasingly focusing on investments to purchase pharmaceutical packaging equipment, to provide patients with advanced packaging solutions for medications. For instance, Bosch Packaging Technology, in June 2017 launched 'ALF 5000,' which is a pharmaceutical filing and closing equipment. ALF 5000 offers an extensive range of filling systems mainly because this platform can be equipped with all conventional filling systems such as time-pressure filling or peristaltic pump system and optionally comes with 12, 10, 8, or 6 filling points
Opportunities: Focus on technological advancements and innovations in Pharmaceutical Equipment
The major players of the global market are highly focusing on technological advancements and introducing innovative equipment, which is expected to propel the overall market growth and create huge growth opportunities in the global pharmaceutical packaging equipment market. This innovative equipment offers improved speed and accessibility in the pharmaceutical packaging processes, thereby contributing to market growth. For instance, in December 2018, a subsidiary of Hanmi Pharmaceutical, JVM launched 'NS20,' which is pharmaceutical packaging equipment that has an ability to prevent packaging errors of pharmaceuticals and speed up the automatic dispensing procedure. The NS20 model is appropriate for hospital pharmacies and large pharmacies, and comes with the latest ACRS-III (automatic sensor and communication) technology and ATDPS - a conventional automatic medicine categorization and packaging system
Impact of Covid-19 Outbreak
The outbreak of the COVID-19 pandemic created an extraordinary strain on society and affected millions of people across the globe. The spread of coronavirus generated unprecedented challenges for medicine manufacturing industries, impacting the global economy. The economic downturn due to factory closures, disturbance in the supply chain, movement limitations, and the requirement of social distancing resulted in putting the medical industry at the center stage, due to the pandemic. This changed the packaging formats of the pharmaceutical industry from traditional packing to sterile and antiviral packing. In the COVID-19 era, plastic again evolved as the preferred material for sterile and antiviral packaging, contradicting the trends of diminishing the use of plastic as it harms the environment. Furthermore, the versatile nature and high barrier properties of plastics are likely to ease the packaging process during this pandemic.
Market Key Players
Various key players are discussed in this report such as Accutek Packaging , Syntegon, Marchesini Group , Coesia , RomacoPharmatechnik GmbH , Uhlmann , CAM Packaging, OPTIMA packaging group GmbH , and ACG Group
Buy this Report Details @ https://qualiketresearch.com/paymentgateway/Pharmaceutical-Packaging-Equipment-Market/payment-gateway
Market Taxonomy
By Type
By Primary Packaging Equipments
By Labelling & Serialization
By Secondary Packaging Equipment's
By Region
Get discount on this report @ https://qualiketresearch.com/request-sample/Pharmaceutical-Packaging-Equipment-Market/ask-for-discount
About Us
QualiKet Research is a leading Market Research and Competitive Intelligence partner helping leaders across the world to develop robust strategy and stay ahead for evolution by providing actionable insights about ever changing market scenario, competition and customers. QualiKet Research is dedicated to enhancing the ability of faster decision making by providing timely and scalable intelligence. We use different intelligence tools to come up with evidence that showcases the threats and opportunities which helps our clients outperform their competition.
Tags: Pharmaceutical Packaging Equipment Market Size, Pharmaceutical Packaging Equipment Market Demand, Pharmaceutical Packaging Equipment Market Growth, Pharmaceutical Packaging Equipment Market Analysis, Pharmaceutical Packaging Equipment Market Trends, Pharmaceutical Packaging Equipment market share, Pharmaceutical Packaging Equipment Market
See Campaign: https://qualiketresearch.com/Contact Information:Vishal Thakur
Research Support Specialist
QualiKet Research
6060 N Central Expy #500, TX 75204, U.S.A
Website: https://qualiketresearch.comTags:, IPS, iCN Internal Distribution, Research Newswire, English
Vishal Thakur
Research Support Specialist
QualiKet Research
6060 N Central Expy #500, TX 75204, U.S.A
Website: https://qualiketresearch.com
Get a daily dose of Philadelphia Herald news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Philadelphia Herald.
More InformationREDMOND, Washington: Artificial intelligence is transforming Microsoft's bottom line. The company saved over US$500 million last year...
WASHINGTON, D.C.: A federal rule designed to make it easier for Americans to cancel subscriptions has been blocked by a U.S. appeals...
BASTROP, Texas: In a surprising turn at Elon Musk's X platform, CEO Linda Yaccarino announced she is stepping down, just months after...
NEW YORK CITY, New York: Former British prime minister Rishi Sunak will return to Goldman Sachs in an advisory role, the Wall Street...
LONDON, U.K.: Physically backed gold exchange-traded funds recorded their most significant semi-annual inflow since the first half...
AMSTERDAM, Netherlands: Some 32 percent of global semiconductor production could face climate change-related copper supply disruptions...
ATLANTA, Georgia: The United States is facing its worst measles outbreak in more than three decades, with 1,288 confirmed cases so...
In the past month alone, 23 Israeli soldiers have been killed in Gaza—three more than the number of remaining living hostages held...
LONDON, U.K.: At least 13 people are believed to have taken their own lives as a result of the U.K.'s Post Office scandal, in which...
WASHINGTON, D.C.: Travelers at U.S. airports will no longer need to remove their shoes during security screenings, Department of Homeland...
WASHINGTON, D.C.: An elaborate impersonation scheme involving artificial intelligence targeted senior U.S. and foreign officials in...
SLUBICE, Poland: Poland reinstated border controls with Germany and Lithuania on July 7, following Germany's earlier reintroduction...