Majority share in the global pharmaceutical packaging market is held
by the leading five companies, rendering its vendor landscape
consolidated. These companies are IMA S.P.A, Robert Bosch GmbH,
Körber AG, Marchesini Group S.p.A, Marchesini Group S.p.A., and
Uhlmann Pac-Systeme GmbH & Co. KG and together they held nearly
55.5% of the global pharmaceutical packaging equipment market in
2016. Besides exploring the latest in technology, these companies are
actively engaged in consolidated market share via mergers and
acquisitions, finds Transparency Market Research in a new study.
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Most of the prominent companies in the market are engaged in product
innovation to gain competitive advantage. “With the advent of novel
technologies, the market will gain momentum in the coming years,”
said a lead TMR analyst. The global pharmaceutical packaging
equipment market is forecast to exhibit a CAGR of 6.7% between 2017
and 2025. At this pace, the market’s valuation will reach US$10.69
bn by the end of 2025, from US$5.97 in 2016.
The market can be broadly classified into primary packaging equipment
and secondary packaging equipment, based on package type. Of these,
the primary packaging equipment segment emerged dominant in 2016 and
is expected to remain at the lead exhibiting a CAGR of 6.6% between
2017 and 2025. Regionally, North America held the dominant share of
31.8% in the global pharmaceutical packaging equipment market in
2016. The region has demonstrated a persistently rising investment in
novel drug delivery techniques. The trend has particularly caught
pace in the US and Canada.
Market to Derive
Growth from Expansion of Pharmaceutical Industry
Growth in the pharmaceutical industry is primarily aimed at finding
effective cure for ailments. While this cure could be in any form,
the industry’s task does not end with acquiring approval for the
same. Rather, it has to focus on myriad aspects co-related with
making available novel therapeutics, high-quality packaging being the
prime concern. For medications and therapeutic products to reach
customers safely, investment in advanced packaging is considered
imperative. Growth in the pharmaceutical industry will therefore
usher lucrative opportunities for the global pharmaceutical packaging
equipment market.
The rising demand for patient compliance, novel medicaments, and
environmental ethics have bolstered investment in the research and
development of pharmaceutical packaging systems. Besides this,
stringent regulations mandating the pharmaceutical industry to follow
certain standards while dealing with drugs, as they can have direct
impact on human lives, have compelled it to focus on advanced
pharmaceutical packaging. Spurred by these factors the demand for
pharmaceutical packaging equipment has considerably increased over
the last few years. Also the demand for high-performing equipment
will rise as companies look towards integrated packaging
technologies.
Using Refurbished
Equipment in place of Advanced Pharmaceutical Packaging Equipment
could Stall Growth
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On the downside, the use of revamped packaging equipment can create
problems for the market. In response to the increasing cost pressure,
pharmaceutical companies are reevaluating their operational and
manufacturing processes. Their target being able to deal with soaring
costs while providing affordable medications to customers. Thus
several companies across emerging nations, especially in Latin
America and Asia Pacific are adopting refurbished equipment to reduce
their cost burden. This in the long run can have a negative impact on
the overall market. Nevertheless, with the growing demand from Asia
Pacific, the drug manufacturing capacities of these companies could
improve thus mitigating the aforementioned concern.
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company’s exclusive blend of quantitative forecasting and trend
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