December 6, 2021 at 05:57 US Eastern Time | Source: Meticulous Market Research Pvt. Co., Ltd.'s detailed market research Pvt. Limited company
Reading, California, December 6, 2021 (GLOBE NEWSWIRE) - According to a report titled "Processing of drugs by delivery method (oral, injection, topical), secondary packaging (boxing, labeling, serialization) And packaging equipment market" new market research report) and terminal packaging (palletizing, box packaging)-global forecast to 2028", released by Meticulous Research®, predicts the pharmaceutical processing and packaging equipment market from 2021 to 2028 It will grow at a compound annual growth rate of 4.5%, reaching US$25.2 and reaching 1 billion in 2028.
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The growth of the pharmaceutical market is due to the heavy burden of global diseases, the surge in the elderly population, and the increasing preparedness to respond to epidemics. In addition, in view of the recent expiration of patents for patented drugs, the increase in the production of generic drugs may also lead to an increase in the production of drugs. The growing demand for flexible manufacturing and the growing demand for compliance with various regulations have also contributed to market growth.
In addition, the emerging manufacturing hotspots in Sri Lanka and Malaysia, as well as rising pharmaceutical R&D expenditures, may provide market growth opportunities.
The impact of COVID-19 on the pharmaceutical processing and packaging equipment market
The global COVID-19 pandemic has different effects on the healthcare industry. The pandemic has led to increased demand for vaccines and therapies, so various pharmaceutical and biopharmaceutical manufacturers have expanded their production facilities.
It is expected that manufacturers' adoption of expansion plans will increase the demand for pharmaceutical processing and packaging equipment. Due to the implementation of national blockades by countries, the pandemic has temporarily interrupted the supply chain. The blockade caused the temporary closure of local manufacturing plants, so the supply of API and finished product doses was greatly affected.
Due to the disruption of the supply chain, the governments of some countries have decided to increase domestic production of therapeutic drugs to reduce dependence on imports. These measures have had a positive impact on the growth of the pharmaceutical processing and packaging equipment market.
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Overview of the pharmaceutical processing and packaging equipment market
The entire pharmaceutical processing and packaging equipment market is segmented according to product types, drug delivery methods, and regions.
According to the mode of administration, it is estimated that by 2021, the oral preparation market segment will account for the largest share of the entire pharmaceutical processing and primary packaging equipment market. Oral preparations are more popular than other preparations because of their advantages such as safety and convenience of administration and cost-effectiveness.
According to the type, by 2021, the cartoning equipment segment is expected to account for the largest share of the entire secondary packaging equipment market. The key factor in the higher adoption rate of packing equipment is the increase in carton consumption in the pharmaceutical industry, which makes it easier to handle packaged goods. The light weight and cost-effective characteristics of cartons in packaging medicines have further increased its market demand.
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By type, in 2021, luggage equipment is expected to occupy the largest share of the pharmaceutical offline packaging market. A higher preference for integrated box packaging systems that allow compliance with serialization regulations is a key factor driving the adoption of these devices.
Based on geographic location, North America is expected to occupy the largest share of the global pharmaceutical processing and packaging equipment market by 2021, followed by Europe and the Asia-Pacific region. The large pharmaceutical industry, increasing R&D expenditures, and the shift to generic drugs due to increased healthcare costs are factors driving the growth of this regional market segment. However, the Asia-Pacific region is expected to grow at the highest compound annual growth rate during the forecast period.
The report also includes an extensive assessment of the key strategic developments of the industry’s leading market participants over the past three years. In the past few years, the global pharmaceutical processing and packaging equipment market has witnessed new product launches, collaborations, partnerships, agreements, acquisitions and expansions.
Some of the major players operating in the global pharmaceutical processing and packaging equipment market are ACIC Pharmaceuticals Inc. (Canada), Bausch+Ströbel (Germany), IDEX Corporation (USA), JEKSON VISION (India), Kevin Process Technologies Pvt. Ltd. ( India), KIKUSUI SEISAKUSHO LTD. (Japan), Korber AG (Germany), KORSCH AG (Germany), MARSpA Macchine Automatiche Riempitrici (Italy), MAQUINARIA INDUSTRIAL DARA, SL (Spain), Marchesini Group SpA (Italy), OPTEL GROUP ( Canada), OPTIMA Packaging group GmbH (Germany), Syntegon Technology GmbH (Germany), Wenzhou Xinda Machinery Technology Co., Ltd. (China), Sainty Corporation (China), ACG (India), ANTARES VISION SpA (Italy), BREVETTI CEA SPA (Italy), Cadmach Machinery Co., Ltd. Pvt. Ltd (India), CAM Packaging IT (Italy), Coesia SpA (Italy), Fette Compacting (Germany), Freund Corporation (Japan), GEA GROUP (Germany), Glatt GmbH (Germany), LINXIS GROUP (France), Harro Höfliger Verpackungsmaschinen GmbH (Germany), IMA INDUSTRIA MACCHINE AUTOMATICHE SPA (Italy), Uhlmann Pac-Systeme GmbH & Co. KG (Germany), Chutian Technology Co., Ltd. (China) and Tecnomaco Italia SRL (Italy), etc.
To gain a deeper understanding of the market through detailed catalogs and data, please click here: https://www.meticulousresearch.com/product/pharmaceutical-processing-and-packaging-equipment-market-5021
Pharmaceutical processing and packaging equipment market, by product type
Pharmaceutical packaging equipment market, by type
Pharmaceutical processing and primary packaging equipment market, by delivery method
Medical secondary packaging equipment market, by product type
Pharmaceutical terminal packaging equipment market, by product type
Pharmaceutical processing and packaging equipment market, by geographic location
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