San Francisco, California, February 26, 2018: The striking strides being experienced by the pharmaceutical manufacturing sector in various parts of the world is a factor potential driving the pharmaceutical packaging equipment market. Riding on the back of burgeoning investment in biopharmaceutical research and development activities in developing and developed regions, the market is expected to witness vast prospects in the coming years. A new report penned by TMR Research, titled, “Pharmaceutical Packaging Equipment Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025”, offer comprehensive insights into various dynamics, key trends and factors, and opportunities influencing the current and future outlook of the market.
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Bustling with opportunities, the pharmaceutical packaging equipment market is projected to rise at an impressive pace during the forecast period of 2017–2025. The study elaborately analyzes the impact of regulatory landscape on emerging avenues and evaluates the competitive landscape in major regions. The rising need for precise and reliable filling of high viscosity liquids in the pharmaceutical industry is a notable factor bolstering the demand for packaging equipment. Substantial investments in adopting novel drug delivery techniques and in generics are noteworthy factors aiding in the rapid expansion of the market.
Recent technological advancements in labeling and serialization solutions for pharmaceutical products bodes well for the demand for pharmaceutical packaging equipment. The advent of serialization-enabled high-speed labeling and coding systems in the industry is a notable factor accentuating the growth of the market. The role of these systems in pharmaceutical manufacturing sector to combat the problem of counterfeit medicines is a prominent factor catalyzing the growth of the market.
Intense efforts by players world over to contain cost of drug manufacturing are positively impacting the pharmaceutical packaging equipment market. A rising focus on patient compliance has spurred investment on advanced packaging of pharmaceutics, which is a noteworthy factor accentuating the market. Strict regulations on drug packaging being implemented by pharmaceutical manufacturers in various parts of the world will help in the swift expansion of the market. The market is also expected to immensely benefit from patient compliance mandates in a number of developing and developed nations.
The growing prevalence of diseases and infections are providing a robust push to drug development activities, thereby boosting the market. The role of robust pharmaceutical packaging equipment in ensuring safety of drugs is of vital concern and contributing to the growth of the market. The use of refurbished packaging equipment, attributed to its low cost, is a crucial factor eating away the revenue of players in the pharmaceutical packaging equipment market. The surging rise in prices of pharmaceutical packaging equipment may also cripple their demand in low-income countries. Nevertheless, the advent of automated and flexible primary packaging and secondary pharmaceutical packaging equipment is creating lucrative avenues for market players. A thriving pharmaceutical industry in various parts of the world will also create promising prospects in the market over the assessment period.
Regionally, North America could be a potential market for pharmaceutical packaging equipment. The growth of the regional market is likely to be fueled by the rising drug making activities, soaring investments in biopharmaceutical research, and a robust manufacturing sector. Meanwhile, emerging markets such as in Asia Pacific will be key to substantial attractive prospects for market players to capitalize on. Some of the other key regional markets for pharmaceutical packaging equipment could be Europe, Latin America, and the Middle East & Africa.
The global pharmaceutical packaging equipment market is likely to be fairly fragmented. Prominent players operating in the market include OPTIMA Packaging Group GmbH, Romaco Pharmatechnik GmbH, Marchesini Group S.p.A., Multivac Group, Körber AG, Robert Bosch GmbH, and IMA S.p.A.