The global pharmaceutical packaging equipment market size is expected to reach USD 8.69 billion by 2030, expanding at 5.5% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. The market is primarily driven by growing awareness regarding health and hygiene, coupled with increased spending on pharmaceutical products, mainly in emerging economies. Moreover, many governments are focusing on strengthening pharmaceutical production facilities and population health management is further expanding the demand for pharmaceutical products, which results in boosting the market growth.
Key Industry Insights & Findings from the report:
- Wrapping machine segment is anticipated to progress at a CAGR of 7.1% over the forecast period on account of the growing need for secondary and tertiary packaging of pharma products.
- Asia Pacific emerged as the leading regional market and accounted for 38.5% of the overall revenue share in 2022, owing to the expanding pharmaceutical manufacturing in India and China.
- Europe emerged as the second-largest regional market and held a share of 27.4% in terms of revenue in 2022. This can be attributed to the high demand for highly automated, flexible, and efficient packing solutions.
- The Drug Quality and Security Act (DQSA), which requires pharmaceutical products to have serialized coding, is anticipated to propel the demand for packing equipment further.
- Key participants are majorly investing in innovative technologies like robotics, big data, and Human Machine Interface (HMI) to produce highly productive and efficient machines.
- In September 2018, Robert Bosch Packaging Technology agreed to form a partnership with ASPIRx Ltd. (located in Ghana) to produce pharmaceuticals. The role of Bosch Packaging Technology in this partnership was to design and provide a multi-purpose system, which will manufacture and package both solid and liquid pharmaceuticals.
Read 130 page market research report, “Pharmaceutical Packaging Equipment Market Size, Share & Trends Analysis Report By Machine Type (Filling, Labelling, Cartoning), By Region, And Segment Forecasts, 2023 – 2030“, published by Grand View Research.
Pharmaceutical Packaging Equipment Market Growth & Trends
The growing healthcare sector is projected to have a positive impact on the packaging equipment sector since it is widely used for the packing of capsules, tablets, liquids, and antiseptic creams, among others. Moreover, R&D in the pharmaceutical industry for developing new generic medicines and over-the-counter medicines is further expected to propel industry growth.
The growing demand for pharmaceutical products including oral and topical is likely to drive the demand for efficient pharmaceutical packaging machinery across the globe. The manufacturers are expected to expand their manufacturing capacities to cater to this increased demand, which is likely to aid in new product development and the introduction of novel packaging technologies.
The COVID-19 vaccination packaging requirement provided a significant opportunity for pharmaceutical packaging firms. Due to COVID-19, the restrictions imposed on the movements of people led to significant demand for home deliveries of pharmaceutical products. This resulted in larger demand for pharmaceutical solutions and pharmaceutical packaging throughout the global pandemic. The above mention factors will positively influence the pharmaceutical packaging equipment industry.
Several packaging equipment manufacturers have undertaken R&D initiatives to produce highly sophisticated and efficient equipment at competitive prices. Furthermore, there is a continued demand for complete packing lines that can incorporate numerous functions from a single source and for modular machines that can offer flexibility driven by the increased variety of packing materials and styles. For instance, in 2022, Romaco showed its latest technologies for granulating and tableting nutraceuticals and pharmaceuticals at Vitafoods Europe.
Pharmaceutical Packaging Equipment Market Segmentation
Grand View Research has segmented the global pharmaceutical packaging equipment market based on machine type and region:
Pharmaceutical Packaging Equipment Market – Machine Type Outlook (Revenue, USD Billion, 2018 – 2030)
- Form Fill & Seal
Pharmaceutical Packaging Equipment Market – Regional Outlook (Revenue, USD Billion, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Central & South America
- Middle East & Africa
- Saudi Arabia
- United Arab Emirates
List of Key Players in the Pharmaceutical Packaging Equipment Market
- Robert Bosch
- Romaco Holding
- Marchesini Group
- Korber AG
- I.M.A. Industria Macchine Automatiche S.p.A.
- Uhlmann Group
- Accutek Packaging Equipment Companies
- Bausch + Ströbel
- Vanguard Pharmaceuticals Equipment
- MULTIVAC Group
- OPTIMA Packaging Group
- ACG Worldwide
- BREVETTI CEA S.P.A
- GEA Group Aktiengesellschaft
Check out more related studies published by Grand View Research:
- Pharmaceutical Coating Equipment Market – The global pharmaceutical coating equipment market size is anticipated to reach USD 1.27 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.2% from 2023 to 2030. The expansion of the pharmaceutical industry, the ongoing pandemic, and improving healthcare coupled with the rise in R&D efforts in this industry are anticipated to drive market growth.
- Flexible Packaging Market – The global flexible packaging market size is expected to reach USD 373.3 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.5% from 2022 to 2030. Growing consumer driven demand for packaged food and beverage products owing to its convenience and ease of consumption is expected to drive market growth.
- Cold Chain Packaging Market – The global cold chain packaging market size is anticipated to reach USD 63.1 billion by 2027, expanding at a CAGR of 19.4% from 2020 to 2027, according to a new report by Grand View Research, Inc. The key drivers attributing to the market expansion include a significant boost in demand for cold chain packaging solutions from the pharmaceutical industry. Amidst the coronavirus pandemic, the trade and transit of temperature-sensitive drugs, medicines, and test samples are drastically increasing. Along with the pharmaceuticals market, the packaging market is anticipated to witness significant growth. The overall market growth is profoundly influenced by the high demand for perishable goods worldwide and the availability of fresh food and frozen food supplies.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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