Pharmaceutical Packaging Equipment Market Size will Observe Substantial Growth by 2020
The packaging of pharmaceutical products and drug delivery systems is an essential step in the pharmaceutical industry. Pharmaceutical packaging equipment provides safety and quality of packaging for pharmaceutical products. Unlike traditional packaging systems, pharmaceutical packaging equipment used nowadays are modern, flexible, automated and are integrated to meet pharmaceutical products requirements. Pharmaceutical packaging equipment includes primary packaging equipment, secondary packaging equipment, and equipment for labeling and serialization. Pharmaceutical packaging equipment may be used for packing of solids, semi-solids, liquids and others. Pharmaceutical packaging equipment helps in reducing the time for packaging of pharmaceutical products which helps to increase production and innovations in drug delivery systems and personalized drugs.
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North America has the largest market for pharmaceutical packaging equipment followed by Asia and Europe. This is due to increase investment in novel drug delivery techniques, increasing awareness about healthcare sector and high healthcare spending in the region. Asia is expected to experience a high growth rate in the next few years due to increasing contract manufacturing activities, rising aging population, government initiatives and growth in the pharmaceutical sector.
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Increasing demand for flexible and integrated packaging, rising incidence of diseases, innovations in drug delivery techniques and rapid growth of pharmaceutical industry are some of the key factors driving the growth for global pharmaceutical packaging equipment market. In addition, increasing generic and contract manufacturing activities are expected to drive the market for pharmaceutical packaging equipment in Asian countries, especially in India and China. However, high packaging cost, strict environmental and political norms and high competition between the market players are some of the major factors restraining the growth of global pharmaceutical packaging equipment market.
Growing demographics and economies in the developing countries such as India and China would lead to growth in pharmaceutical packaging equipment market in Asia. In addition, growing demand for primary pharmaceutical containers would develop an opportunity for global pharmaceutical packaging equipment market. However, changing health regulations and availability and price volatility of raw material could lead a challenge for global pharmaceutical packaging equipment market. Companies involved in pharmaceutical packaging have been involved in saving operational cost. In addition, rising number of mergers and acquisitions, new product launches and an increasing number of collaborations and partnerships are some of the trends that have been observed in global pharmaceutical packaging equipment market.
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Some of the major companies operating in the global pharmaceutical packaging equipment market are Romaco Pharmatechnik GmbH, MULTIVAC, Marchesini Group S.p.A., Korber Ag, Robert Bosch Gmbh, MG2 s.r.l., Uhlmann-Group, OPTIMA packaging group GmbH, I.M.A. Industria Macchine Automatiche S.p.A. and Bausch & Strobel Maschinenfabrik llshofen Gmbh Co. Kg.