Redding, California - May 28, 2024
Pharmaceutical Processing and Packaging Equipment Market to be Worth $28.75 Billion by 2031
Pharmaceutical Processing and Packaging Equipment Market Size, Share, Forecast, & Trends Analysis by Formulation (Oral, Parenteral) Secondary Packaging (Cartoning, Labelling) End-of-Line Packaging (Palletizing, Case Packaging) - Global Forecast to 2031
Meticulous Research®—a leading global market research company, published a research report titled, ‘Pharmaceutical Processing and Packaging Equipment Market Size, Share, Forecast, & Trends Analysis by Formulation (Oral, Parenteral) Secondary Packaging (Cartoning, Labelling) End-of-Line Packaging (Palletizing, Case Packaging) - Global Forecast to 2031.’
According to this latest publication from Meticulous Research®, the pharmaceutical processing and packaging equipment market is projected to reach $28.75 billion by 2031 at a CAGR of 4.2% from 2024 to 2031. The growth of the pharmaceutical processing & packaging equipment market is driven by the growth in the pharmaceutical market, the increasing need to comply with various regulations, the increasing burden of chronic & infectious diseases, the rising geriatric population, and the rising demand for flexible manufacturing. However, the preference for refurbished equipment is expected to restrain the growth of this market.
The expansion of domestic manufacturing capacities of pharmaceuticals in various countries such as China, India, Malaysia, Indonesia, and UAE and the increase in the pharma R&D spending offer growth opportunities for the pharmaceutical processing and packaging market. However, changing market demands in the constantly evolving pharmaceutical space are expected to pose challenges for the growth of this market.
Key Players
The key players operating in the pharmaceutical processing and packaging equipment market are ACIC Pharmaceuticals Inc. (Canada), Bausch+Ströbel (Germany), IDEX Corporation (U.S.), JEKSON VISION (India), Kevin Process Technologies Pvt. Ltd. (India), KIKUSUI SEISAKUSHO LTD. (Japan), Korber AG (Germany), KORSCH AG (Germany), M.A.R. S.p.A Macchine Automatiche Riempitrici (Italy), MAQUINARIA INDUSTRIAL DARA, SL (Spain), Marchesini Group S.p.A. (Italy), OPTEL GROUP (Canada), OPTIMA packaging group GmbH (Germany), Syntegon Technology GmbH (Germany), Wenzhou Trustar Machinery Technology Co., Ltd (China), Sainty Co (China), ACG (India), ANTARES VISION S.p.A. (Italy), BREVETTI CEA S.P.A (Italy), Cadmach Machinery Co. Pvt. Ltd (India), CAM Packaging IT (Italy), Coesia S.p.A (Italy), Fette Compacting (Germany), Freund Corporation (Japan), GEA GROUP (Germany), Glatt GmbH (Germany), LINXIS GROUP (France), Harro Höfliger Verpackungsmaschinen GmbH (Germany), I.M.A INDUSTRIA MACCHINE AUTOMATICHE S.P.A (Italy), Uhlmann Pac-Systeme GmbH & Co. KG (Germany), Truking Technology Limited (China), and Tecnomaco Italia SRL (Italy).
Pharmaceutical Processing and Packaging Equipment Market: Future Outlook
The pharmaceutical processing and packaging equipment market is segmented by Formulations (Oral, Parenteral, Topical, and Other Formulations), Secondary Packaging (Cartoning Equipment, Carton Labeling & Serialization Equipment, Wrapping Equipment, and Other Equipment), End-of-Line (Case Packaging, Palletizing & Depalletizing Equipment, and Other Equipment), and Geography.
Among all the formulations of primary packaging equipment studied in this report, the parenteral segment is slated to register the highest growth rate during the forecast period. The increasing approvals for injectables, increased focus on parenteral administration, the increasing need for parenteral packaging for drug protection & maintaining purity, technological advancements in pre-fillable syringes and vials in terms of material and design, and improvements in vial or syringes filling operations are contributing to the market growth.
Among all the product types of secondary packaging equipment studied in this report, in 2024, the cartoning equipment segment is estimated to account for the largest market share. The recommendation by regulatory bodies to use cartons for packing pharmaceuticals, the ease of handling medication in cartons, and the lightweight and cost-effective nature of cartons are the key factors driving the market.
Among all the product types of end-of-line packaging equipment studied in this report, the case packaging segment is estimated to account for the largest share of the market in 2024. The significant incidence of counterfeit medicines and the increasing export & import of pharmaceuticals are the key factors driving the demand for case packaging equipment.
Geographic Review
This research report analyzes major geographies and provides a comprehensive analysis of the market in North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, Switzerland, Belgium, Denmark, Ireland, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Rest of Latin America), and the Middle East & Africa.
Among all the regions studied in this report, in 2024, North America is expected to account for the largest share of the pharmaceutical processing and packaging equipment market, followed by Europe and Asia-Pacific. The large pharmaceutical industry, increasing R&D expenditure, and shift towards generic drugs due to increasing healthcare costs are the factors supporting the largest share of the market. However, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period.
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Key questions answered in the report:
- Which are the high-growth market segments in terms of product type, formulation, and region/country?
- What was the historical market size for the pharmaceutical processing and packaging equipment market globally?
- What are the market forecasts and estimates for the period 2024–2031?
- What are the major drivers, restraints, challenges, opportunities, and trends in the pharmaceutical processing and packaging equipment market?
- Who are the major players in the pharmaceutical processing and packaging equipment market?
- What is the competitive landscape like, and who are the market leaders in the pharmaceutical processing and packaging equipment market?
- What are the recent developments in the pharmaceutical processing and packaging equipment market?
- What are the different strategies adopted by the major players in the pharmaceutical processing and packaging equipment market?
- What are the geographical trends and high-growth regions/countries?
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