The global pharmaceutical packaging equipment market is anticipated to reach a valuation of US$ 5.6 billion in 2023, driven by growing biopharmaceutical industry. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 9.0% between 2023 and 2033, and reaching a total valuation of approximately US$ 13.3 billion by 2033.
One of the primary factors driving the growth of the pharmaceutical packaging equipment market is experiencing robust growth, driven by a surge in demand for advanced and efficient packaging solutions in the pharmaceutical industry. Key factors propelling this growth include stringent regulatory requirements, increasing demand for biologics and vaccines, advancements in packaging technologies, and the rising focus on patient safety and product integrity. The market is also benefiting from the expansion of the pharmaceutical industry in emerging economies.
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The pharmaceutical outsourcing trend has led to the rise of contract packaging organizations (CPOs). The specialized service providers offer packaging solutions to pharmaceutical companies, allowing them to focus on core competencies while leveraging the expertise of packaging professionals. There is a corresponding demand for advanced packaging equipment tailored to meet the specific needs of these organizations, as the number of CPOs increases. The outsourcing trend is escalating the growth of the pharmaceutical packaging equipment market.
Key Takeaways from the Market Study
- Global pharmaceutical packaging equipment market was valued at US$ 5.1 billion by 2022-end.
- From 2018 to 2022, the market demand expanded at a CAGR of 5.8%.
- The United States is expected to hold a dominant CAGR of 7.6% during the forecast period.
- By Automation, the automatic segment is expected to constitute a CAGR of 7.6% in 2033.
- On the basis of machine type, the blister packaging segment is expected to dominate the market with a CAGR of 5.0% in 2033.
- From 2023 to 2033, pharmaceutical packaging equipment market is expected to flourish at a CAGR of 9.0%.
- By 2033, the market value of pharmaceutical packaging equipment is expected to reach US$ 13.3 billion.
Expansion of the generic drugs, across the globe is a major factor that is expected to propel the growth of the pharmaceutical packaging equipment market in the near future, remarks an FMI analyst.
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Competitive Landscape
Prominent players in the Pharmaceutical Packaging Equipment market are Gerresheimer, Robert Bosch GmbH, I.M.A. Industria Macchine Automatiche SpA, Marchesini Group S.p.A, Bausch+Ströbel Maschinefabrik Ilshofen GmbH+Co. KG, Romaco Group, Dara Pharmaceutical Equipment, MULTIVAC Group, Accutek Pharmaceutical Equipment Companies, Inc., OPTIMA Packaging Group, Trustar Pharma Pack Equipment, Co. Ltd., MG2 s.r.l., Inline Filling Systems, Venia LLC, ACIC Pharmaceuticals Inc., Harro Höfliger, NJM Packaging, CKD Corporation, Herma GmbH, and ProMach, Inc., among others.
Recent Developments
- In 2021, IMA announced the launch of its new robotic cartoning platform, CROMA-R, which offers high-speed performance and flexibility in pharmaceutical packaging.
- In 2020, Bosch introduced the Sigpack TTMP topload cartoner, featuring a modular design for flexibility and efficiency in pharmaceutical packaging.
- In 2020, Marchesini Group introduced the new BL-A420 CW case packer, designed for the packaging of pharmaceutical products in cartons.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global pharmaceutical packaging equipment market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the pharmaceutical packaging equipment market, the market is segmented on the basis of automation (automatic, semi-automatic, and manual), by machine type (bottling line, cartoning, form-fill-seal (ffs), blister packaging, capping & closing, filling & sealing, labelling, decorating & coding, palletizing, and wrapping & bundling), and by application (tablets, powders, cream, syrup, and aerosol), across five major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa (MEA)).
About Future Market Insights Inc. (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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