Pharmaceutical Packaging Equipment Market Worth 7.24 Billion USD by 2020
PUNE, India, February 10, 2016 /PRNewswire/ --
According to a new market research report "Pharmaceutical Packaging Equipment Market by Package Type (Blister, Strip, Bottle, Tube, Aseptic Packaging, Wrapping, Labeling & Serialization), by Product Type (Tablet, Powder, Cream, Syrup, Aseptic Liquid, Aerosol) - Global Forecast to 2020", published by MarketsandMarkets, studies the global market during the forecast period of 2015 to 2020. The market is expected to grow at a CAGR of 6.9% during the forecast period to reach USD 7.24 Billion by 2020.
Browse 183 market data Tables and 37 Figures spread through 230 Pages and in-depth TOC on "Pharmaceutical Packaging Equipment Market"
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Growth in this market is attributed the growing generics market; rising need for novel and flexible packaging equipment; stringent regulatory compliance and validation processes compelling the replacement of older equipment; and growing offshore and contract manufacturing in the pharmaceutical market. However, the use of refurbished packaging equipment by players in high-growth markets such as Asia-Pacific and Latin America, due to cost-cutting measures, may hinder the growth of this market to a certain extent.
The global Pharmaceutical Packaging Equipment Market is segmented by product, package type, and geography. This report also discusses the key drivers, restraints, opportunities, and challenges for this market. On the basis of package type, the market is segmented into primary packaging, secondary packaging, and labeling and serialization equipment. The primary packaging equipment market is further segmented into aseptic filling and sealing equipment, bottle filling and capping equipment, blister packaging equipment, soft tube filling and sealing machines, sachet packaging equipment, strip packaging equipment, counting equipment, and others. On the other hand, the market, based on product type, is primarily segmented into solid packaging equipment, semi-solid packaging equipment, liquid packaging equipment, and other packaging equipment.
In 2014, aseptic filling and sealing equipment accounted for the largest share of the primary packaging equipment market. This is majorly attributed to the increasing use of parenteral vials and pre-fillable syringes. The growing demand for biological drugs and the introduction of single-use components in aseptic filling and sealing equipment will further drive the growth of this market segment during the forecast period.
On the basis of region, the Pharmaceutical Packaging Equipment Market is broadly segmented into North America, Europe, Asia-Pacific, and the Rest of the World. The presence of a well-established pharmaceutical market and rising R&D activities are responsible for North America's high share in this market. However, the Asia-Pacific region is expected to grow at the highest CAGR, owing to rising contract manufacturing and offshoring of pharmaceutical manufacturing in India and China.
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Some major players operating in the global Pharmaceutical Packaging Equipment Market include IMA Industria Macchine Automatiche S.p.A. (Italy), Bausch + Ströbel Maschinenfabrik Ilshofen GmbH+ Co. KG (Germany), Robert Bosch GmbH (Germany), Körber AG (Germany), Marchesini Group S.p.A. (Italy), Multivac Group (Germany), OPTIMA Packaging Group GmbH (Germany), Romaco Pharmatechnik GmbH (Germany), and Uhlmann Group (Germany).
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