close

Enter

Log in using OpenID

Pharmaceutical Packaging Equipment Market

embed
Pharmaceutical Packaging Equipment Market : Mandates for Packaging of Pharmaceutical
Drugs Fuels Growth
Featuring a consolidated vendor landscape, a handful of top players in the global market for
pharmaceutical packaging equipment collectively held 55% of the overall market in 2016, says
Transparency Market Research (TMR) in a new report. Key companies to name in the global
pharmaceutical packaging equipment market are Robert Bosch GmbH, Körber AG, Uhlmann
pac-Systeme GmbH & Co. and KG, IMA S.P.A, and Marchesini Group S.p.A.
Huge investments in latest technology to develop efficient equipment is a key focus of large
companies in this market. Product innovation is also what players in this market especially new
market participants are engaged in to establish a foothold. Introduction of novel technologies is
likely to create a deluge of opportunities for vendors in the pharmaceutical packaging
equipment market in the upcoming years.
As per the TMR report, the pharmaceutical packaging equipment market is likely to clock a
CAGR of 6.7% over the forecast period between 2017 and 2025, for the market to be worth
US$10.69 bn by 2025-end. The market was pegged at US$5.97 bn in 2016. By product type, the
segment of liquid packaging equipment held the leading share in 2016 and is likely to remain
lucrative due to increasing use of liquid dosages. This results in high demand for liquid filling
equipment with accuracy and high-precision. By packaging type, primary packaging leads the
market and is predicted to continue to lead through 2025. The growth of primary packaging
segment is mainly because of high demand for unit dosage forms. Geographically, North
America held the leading 31.8% of the market in 2016; the region is expected to continue to
remain at the fore through 2025.
Get PDF Sample for Detailed Analysis of this Research
@ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=637
3
Need for Drugs and Therapeutic Products to Reach Safely to Patients Boosts Growth
Apart from clinical trials and research initiatives to devise effective treatment for medical
conditions, high quality packaging is increasingly becoming a requisite for the growth of the
pharmaceutical industry. Foolproof packaging of pharmaceutical products is important so that
medications and therapeutic products reach patients safely. To serve this, pharmaceutical
companies are investing heavily to purchase equipment that offers advanced packaging
solutions for easy administering of medication. In addition, rising demand for patient
compliance and environmental concerns pertaining to plastic packaging are pushing
pharmaceutical companies to invest in newer packaging solutions. This is fuelling the
pharmaceutical packaging equipment market.
Furthermore, stringent regulations in place that mandate pharmaceutical companies to adhere
to certain standards for packaging of drugs is also positively impacting the pharmaceutical
packaging equipment market. With increasing demand for integrated packaging technologies
from pharmaceutical companies, the demand for high-performance equipment is likely to be on
the rise in the years ahead.
Download Report TOC for in-depth analysis
@ https://www.transparencymarketresearch.com/report-toc/6373
Uptake of Refurbished Equipment Challenges Growth
On the flip side, availability of refurbished packaging equipment is a bottleneck to the growth of
this market. High cost of new equipment is compelling small and mid-sized pharmaceutical
companies to opt for refurbished equipment in order to prevent manufacturing cost and
operational cost to go beyond limit. The use of refurbished equipment prevents packaging cost
to soar, which in turn help prevent the overall cost of medication to keep them affordable. This
is challenging the growth of pharmaceutical packaging equipment market.
Author
monali raghu
monali raghu349   documents Email
Document
Category
Uncategorized
Views
7
File Size
190 KB
Tags
packaging
1/--pages
Report inappropriate content