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Kenneth Research recently added a report on Pharmaceutical Packaging Equipment market in its database of market research reports which provides its readers an in-depth analysis on the latest trends, growth opportunities and growth drivers that are associated with the growth of the market. The report additionally shares critical insights on the COVID-19 impacts on the Pharmaceutical Packaging Equipment Market along with the compound growth rate (CAGR) of the market for a projected period between 2022 and 2031. The report also includes analysis of the market by utilizing different analytical tools, such as PESTEL analysis and Porter's five forces analysis. These tools also provide an in-depth analysis on the micro and macro-environmental factors that are associated with the growth of the market during the forecast period.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Pharmaceutical Packaging Equipment Market products.
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The global pharmaceutical packaging equipment market is estimated to be ~USD 10 billion, and the compound annual growth rate is expected to be 8% during the forecast period 2022-2030. During the forecast period, the growing demand for integrated equipment and flexible and innovative packaging is expected to drive market growth.
In the pharmaceutical industry, packaging equipment is required for primary and secondary packaging, as well as product labeling and coding. A highly sophisticated packaging machine is required to protect the drug and prevent it from contamination. In addition, regulations on the serialization and tracking of pharmaceutical products have further boosted the demand for packaging equipment.
In terms of production and consumption, the United States is the largest pharmaceutical market. In 2018, the United States spent US$485 billion on medicines and is expected to exceed US$600 billion by 2023; in turn, this is expected to have a positive impact on the pharmaceutical packaging equipment market during the forecast period. Due to the need for immediate packaging of finished products, filling machines are mainly used as part of the production line.
Population growth, increased disease awareness, and high potential expenditures for medicines are expected to in turn promote the development of the pharmaceutical industry. , Boost the packaging equipment market. In addition, governments of various countries have made many efforts to provide medicines to ordinary people at affordable prices, which has increased the global demand for packaging equipment.
The global packaging equipment market is dominated by multinational companies headquartered in Europe and North America. The growing demand for integrated, highly automated and technologically advanced packaging solutions in developed economies including the United States, Germany, Russia and Italy is expected to have a positive impact on the market during the forecast period.
An initiative to produce highly sophisticated and efficient equipment at a competitive price. In addition, there is an increasing demand for complete packaging lines that can integrate multiple functions from a single source, and modular machines that can provide flexibility driven by the widest range of materials and styles.
THE MACHINE TYPE INFORMATION:
Filling machine sector was valued at US$2.68 billion in 2018 and is expected to grow substantially during the forecast period. The filling machine is used to separate the product from the volume produced with predefined values and dispense it into the container with the best accuracy.
Different types of filling machines are used in the market to manufacture many products, including lotions, creams, tablets, syrups, and powders. Vials, bottles, ampoules and other liquids in various containers, of which the commonly used are vial filling machine, powder filling machine, tube filling machine and syringe filling machine.
Packaging machines are expected to become the fastest growing market segment, with a compound annual growth rate of 7% from 2019 to 2025. The emerging e-commerce industry and total output are expected to increase, especially in the industrial economy. Global emerging markets drive demand.
The form-fill-seal (FFS) segment is the second largest machine type segment, valued at USD 2 billion in 2018 and is expected to grow substantially during the forecast period. This growth can be attributed to the increasing popularity of flexible packaging in the medical industry and the rapid economic operation of machines.
REGIONAL OUTLOOK:
The demand for pharmaceutical packaging equipment in Europe in 2018 is worth USD 2.35 billion, mainly dominated by the rapidly growing pharmaceutical industries in Germany, Italy, the United Kingdom and Russia. Most of the packaging equipment manufacturers in the world are located in Europe, especially Germany and Italy, which also account for a large part of the total global machine exports.
In terms of revenue, the Asia-Pacific region became the leader of the regional market in 2018. This growth is likely to be driven by the expansion of the pharmaceutical industry in the region, especially in developing economies in the Asia-Pacific region. In addition, various global players have established manufacturing facilities in the region, especially in China and India, to meet the needs of many end industries and obtain cost advantages.
The pharmaceutical packaging equipment market in Central and South America accounts for less than 5%. However, the market offers great potential and opportunities in the field of packaging machinery. Due to the end of the economic recession in Brazil and other countries, the region is expected to experience economic recovery, which is expected to contribute to the steady growth of the packaging machinery market during the forecast period.
The pharmaceutical packaging equipment market has a compound annual growth rate of 8% from 2019 to 2025. This growth is attributable to the growing investment in the US pharmaceutical industry and the growing demand for technologically advanced, flexible and integrated machinery.
THE PHARMACEUTICAL PACKAGING EQUIPMENT MARKET SHARE OUTLOOK:
Major industry players include Robert Bosch GmbH, Romaco Holding, Marchesini Group, Korber AG, I.M.A. Industria Macchine Automatiche S.p.A., Uhlmann Group, Accutek Packaging Equipment Companies, Vanguard Pharmaceuticals Equipment, Bausch + Ströbel and Coesia. These companies are committed to providing a wide range of and customized pharmaceutical packaging machinery.
The presence of a large number of manufacturers in the global market has prompted major players to invest in innovative technologies to maintain their market share and gain a competitive advantage. Major players mainly invest in innovative technologies such as robotics, big data, and human machine interface (HMI) to produce high-yield and efficient machines.
REPORTS SEGMENTS COVERED :
The report forecasts global, regional, and national revenue growth, and analyzes industry trends in each sub-segment from 2022 to 2030. For the purpose of this research, Kenneth Research has subdivided the global pharmaceutical packaging equipment market report based on machine type and region: machine type outlook (revenue, millions of dollars; 2022 to 2030) FillingLabelingForm Filling and Sealing Cartoning Wrapping Palletizing Cleaning Other.
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