CAGR: 8%Current Market Size: USD 8.5 BillionFastest Growing Region: APAC
Largest Market: North AmericaProjection Time: 2023-2030Base Year: 2022
The global pharmaceutical packaging equipment market is expected to grow from USD 8.5 billion in 2022 to USD 15.7 billion by 2030, at a CAGR of 8% during the Projection period 2023-2030. The growth of the pharmaceutical packaging equipment market is mainly driven by the increase in the pharmaceutical industry.
In order to meet the demand for safe product distribution to consumers, pharmaceutical packaging and labeling are essential requirements in the pharmaceutical sector. Reliable and efficient packaging solutions are provided. It provides high-quality goods, product protection, patient comfort, and security requirements. The industry is booming due to recent innovations in packaging solutions like child-resistant packs, blow fill seal (BFS) vials, anti-counterfeiting measures, plasma impulse chemical vapor deposition (PICVD) coating technology, snap-off ampoules, and prefilled syringes like or two-in-one prefilled vials. Each specific product necessitates a precise measurement, resulting in a variation in unit-dose size. Pharmaceutical packaging equipment must be adaptable enough to fit the demands of the manufacturing and packaging process for each particular situation, regardless of the specific need, be it liquid or solid. A few of the factors propelling the growth of the pharmaceutical packaging equipment market are the high demand for generic and pharmaceutical products, expanding contract pharmaceutical and offshore pharmaceutical manufacturing, and the growing need for flexible and integrated packaging equipment.
Sample Request: - Global Pharmaceutical Packaging Equipment Market
Market Dynamics:
Drivers:
One of the pharmaceutical industry's fastest-growing categories is contract manufacturing since it offers affordable, high-quality products of a global standard. Due to the rising demand for generic medications, the patent expiration of important therapeutic brands, the need for top-notch R & D facilities, and the need for cost-effective production technologies that adhere to international regulatory standards, pharmaceutical companies are increasingly considering contract manufacturing as a strategic option to expand their global market presence. A much-reduced cost of production and operation encourages international corporations to enter emerging economies like India to meet their outsourcing demands. Over the Projection period, this leads to an increase in demand in emerging nations for pharmaceutical and medical-grade packaging materials and related equipment.
Restraints:
Demand for generic medications rises due to their affordability and efficiency (as compared to branded drugs). This rise in demand is anticipated to increase the need for generic medication packaging, which will restrict the market's expansion. For instance, nearly 90% of all prescriptions written in the US are for generic pharmaceuticals, according to IQVIA Medical Audit Data (MAT): March 2018. Generic drugs play a significant role in the healthcare system in the US.
Opportunities:
A rise in the growth potential for manufacturers of pharmaceutical packaging equipment is greatest in emerging markets. Governments from various nations are beginning to support biopharmaceutical and pharmaceutical firms to discover and produce medications for a number of infectious and chronic diseases, as well as to stress the expansion of the life science infrastructure by launching several projects. The need for pharmaceutical packaging equipment has increased as a result of these developments, which will further raise the favorable chances for market growth rate.
Challenges:
Packaging equipment manufacturers all around the world faced compliance difficulties because of the ambiguities surrounding the standards for regulating and serializing, including the prospect of new laws being introduced. The main market restraints that will slow the market's growth rate are the fluctuating price of raw materials, small manufacturers' limited capacity for capital expenditure, and the industry's growing demand for modern equipment in developing nations.
Segmentation Analysis:
The global pharmaceutical packaging equipment market has been segmented based on material, product type, and region.
By Material
The material segment is glass and plastic. The glass segment led the largest share of the pharmaceutical packaging equipment market with a market share of around 55% in 2022. Due to their great transparency, which makes it simple to inspect the contents, protection, and chemical resistance for the majority of pharmaceutical items, glass containers offer high airtightness and moisture resistance. Due to the dominance of American companies like Owens-Illinois, Corning, etc. in the international pharmaceutical glass packaging market in North America, Some of the biggest pharmaceutical firms, including Abbott, Pfizer, Roche, and Novartis, are served by these businesses. From their North American locations, these pharmaceutical businesses serve both domestic and foreign clients. Demand for pharmaceutical glass and containers primarily comes from nations with dense populations, including China and India. These nations' expanding pharmaceutical industries are driving up demand even more.
By Product Type
The product type segment is syringes, bottles, filling machine, tube, vials and ampoules, caps and closures, and labels. The filling machine segment led the largest share of the pharmaceutical packaging equipment market with a market share of around 36% in 2022. Using specified settings, filling machines separate the product from the created bulk and accurately dispense it into a container.
Global Pharmaceutical Packaging Equipment Market - Sales Analysis.
The sale of the pharmaceutical packaging equipment market expanded at a CAGR of 5% from 2016 to 2022.
Pharmaceutical products are safe and of high-quality thanks to packing equipment. The equipment is typically used for pharmaceutical drug primary and secondary packaging, labeling, and coding. Cleaning, manufacturing, filling, sealing, and other duties are involved in pharmaceutical packaging equipment. Over the course of the Projection period, it is anticipated that rising demand for integrating equipment will propel market expansion. Packaging equipment is necessary for main and secondary packing, product labeling, and product coding in the pharmaceutical industry. To protect the pharmaceuticals and keep them clean, very advanced packing devices are needed. The need for packing equipment has also been boosted by legislation governing the serialization and tracking of pharmaceutical items.
The U.S. pharmaceutical market is the biggest in the world in terms of both production and consumption. The United States spent USD 485 billion on pharmaceuticals in 2018, and it is anticipated that this amount would rise to USD 600 billion by 2023. Over the course of the Projection period, this is anticipated to positively affect the market for pharmaceutical packaging equipment. Due to the requirement for prompt packaging of manufactured goods, filling machines are frequently utilized as a component of the production line. It is anticipated that factors such as a growing population, greater knowledge of diseases, and high potential for spending on pharmaceutical products will propel the pharmaceutical sector, which will then propel the packaging equipment market.
Thus, owing to the aforementioned factors, the global pharmaceutical packaging equipment market is expected to grow at a CAGR of 8% during the Projection period from 2023 to 2030.
By Regional Analysis:
The regions analyzed for the pharmaceutical packaging equipment market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America region dominated the pharmaceutical packaging equipment market and held a 37% share of the market revenue in 2022.
Global Pharmaceutical Packaging Equipment Market- Country Analysis:
Germany's pharmaceutical packaging equipment market size was valued at USD 2.61 billion in 2022 and is expected to reach USD 3.74 billion by 2030, at a CAGR of 7.6% from 2023 to 2030. Due to strict government regulations and policies against fake goods, a rise in pharmaceutical manufacturing abroad, and a rise in the use of liquid packing technology in this region.
China’s pharmaceutical packaging equipment market size was valued at USD 2.119 billion in 2022 and is expected to reach USD 3.167 billion by 2030, at a CAGR of 7.4% from 2023 to 2030. The rise of the pharmaceutical industry in the region is probably what will drive this growth. In order to meet the demand from a variety of end-use sectors and to take advantage of cost benefits, a number of international businesses have also established their manufacturing facilities in the region, particularly in China.
India's pharmaceutical packaging equipment market size was valued at USD 3.103 billion in 2022 and is expected to reach USD 4.138 billion by 2030, at a CAGR of 7.8% from 2023 to 2030. Due to rising contract manufacturing operations, an aging population, government initiatives, and expansion in the pharmaceutical industry, India is anticipated to grow quickly in the coming years.
Key Industry Players Analysis:
To increase their market position in the global pharmaceutical packaging equipment market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2022-2030 |
Base year |
2022 |
CAGR (%) |
8% |
Market Size |
8.5 billion in 2022 |
Projection period |
2023-2030 |
Projection unit |
Value (USD) |
Segments covered |
By Material, By Product Type, and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Robert Bosch GmbH (Germany), Syntegon Technology GmbH (Germany), Körber AG (Germany), I.M.A. INDUSTRIA MACCHINE AUTOMATICHE S.P.A. (Italy), Coesia S.p.A (Italy), Romaco Group (Germany), Otto Bihler Maschinenfabrik GmbH & Co. KG (Germany), MULTIVAC (Germany), Uhlmann Group (Germany), Maquinaria Industries Dara, SL (Spain), Vanguard Pharmaceutical Machinery, Inc. (US), Accutek Packaging Companies (US), and OPTIMA packaging group GmbH (Germany). |
By Material |
|
By Product Type |
|
Regional scope |
|
Scope of the Report
Global Pharmaceutical Packaging Equipment Market By Material:
Global Pharmaceutical Packaging Equipment Market By Product Type:
Global Pharmaceutical Packaging Equipment Market By Region:
Global pharmaceutical packaging equipment market is expected to reach USD 15.7 billion by 2030.
The pharmaceutical packaging equipment market is projected to have a CAGR of 8%.
One of the pharmaceutical industry's fastest-growing categories is contract manufacturing since it offers affordable, high-quality products of a global standard. Due to the rising demand for generic medications, the patent expiration of important therapeutic brands, the need for top-notch R & D facilities, and the need for cost-effective production technologies that adhere to international regulatory standards, pharmaceutical companies are increasingly considering contract manufacturing as a strategic option to expand their global market presence.
Leading market players active in the global pharmaceutical packaging equipment market are Robert Bosch GmbH (Germany), Syntegon Technology GmbH (Germany), Körber AG (Germany), I.M.A. INDUSTRIA MACCHINE AUTOMATICHE S.P.A. (Italy), Coesia S.p.A (Italy), Romaco Group (Germany), Otto Bihler Maschinenfabrik GmbH & Co. KG (Germany), MULTIVAC (Germany), Uhlmann Group (Germany), Maquinaria Industries Dara, SL (Spain), Vanguard Pharmaceutical Machinery, Inc. (US), Accutek Packaging Companies (US), and OPTIMA packaging group GmbH (Germany). among others.
The segments covered in the pharmaceutical packaging equipment market are; material, product type, and regions.
Political Factors- For the purpose of fostering a cooperative company climate, a transparent governance structure is essential. A number of problems are currently affecting the pharmaceutical packaging equipment market as a result of corruption and a lack of openness. The fundamental cause of this lack of openness is the current political unpredictability and volatility. Fraudulent activities are increasing, corporate processes like licencing and contracting have gotten more complicated, and law enforcement has been weaker as a result of corruption, which is hurting stakeholders' trust in commercial enterprises and governmental institutions. In general, increased bureaucratic corruption is slowing economic expansion, which limits prospects for companies like the pharmaceutical packaging equipment market to thrive.
Economic Factors- The workforce's abilities and skills have a significant impact on the pharmaceutical packaging equipment market's performance. To remain competitive, the pharmaceutical packaging equipment market needs talented personnel to be available when they are required. To understand how people with the necessary skill set could be successfully hired, the pharmaceutical packaging equipment market should examine trends in labour demand and supply. For the pharmaceutical packaging equipment market, a restrictive labour market with strong worker unions can lead to a number of issues. For instance, it can pressure the pharmaceutical packaging equipment market to grant an unjust salary increase or might halt production by issuing a strike call. As a result, it's crucial to assess the dynamics of the labour market, foresee major developments, and modify talent management methods as necessary.
Social factors- When the pharmaceutical packaging equipment market primarily targets young consumers with its products/services, two favourable demographic indicators are high population growth and an increasing proportion of the young population group. pharmaceutical packaging equipment market should also research the host nation's perspective on immigration because a friendly attitude toward immigrants from various cultural origins is a sign that diversity management strategies should be implemented. In order to promote diversity and inclusion, the pharmaceutical packaging equipment market should modify its marketing tactics. An optimistic outlook on migration also shows that the pharmaceutical packaging equipment market can easily hire personnel from various cultural backgrounds. Increased productivity, better innovation, and superior overall firm performance are frequently associated with workplace diversity.
Technological Factors- The research and development trend in the selected industry or region shows how proactive businesses are in introducing cutting-edge solutions for customer needs. pharmaceutical packaging equipment market must improve its comprehension of how new technological advancements can help the company in addition to offering value to customers. In markets defined by disruptive technology, significant investment in research and development efforts would be necessary. However, it is crucial for the pharmaceutical packaging equipment market to have a long-term perspective and not anticipate a quick payoff from its R&D activities.
Environmental Factors- The development of renewable technology to lessen reliance on natural resources has become a strong trend in many industries. To capitalise on this environmental trend, pharmaceutical packaging equipment market should assess how well a nation's technology infrastructure supports the usage of renewable technologies. Governments in certain parts of the world provide enticing incentives for the use of renewable energy sources. pharmaceutical packaging equipment market may achieve its goals for sustainable business development by taking advantage of the opportunity and investing in renewable energy sources.
Legal Factors- A broad category of laws protecting employees' rights, including those to a fair salary, equality, equity, inclusion, fairness, and their physical and mental safety, is known as employment law. While some nations lack efficient enforcement of employment laws, others have harsh penalties for violating any of the specified rights of employees. pharmaceutical packaging equipment market should safeguard the safety of the working environment while entering or operating in such nations. There must be appropriate systems in place to prevent both direct and indirect discrimination. In the continuous competition for talent, effective compliance with employment rules can aid the pharmaceutical packaging equipment market in enhancing its employer brand reputation, which is critical for luring and keeping top personnel in the market.
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