Pharmaceutical Packaging Equipment Market Size Is Projected To Be Around $10.5 Billion By 2025
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A research study titled, “Pharmaceutical Packaging Equipment Market by Product and Package Type - Global Industry Analysis and Forecast to 2025” published by Crystal Market Research, states that the pharmaceutical packaging equipment market is projected to be around $10.5 billion by 2025.
Pharmaceutical packaging equipment is a machine which is used to pack pharmaceutical product for the purpose of safety. Packaging will keep the pharmaceutical product free from external toxins, microbial growth and help to extend their shelf life by protecting them against all external influences that can alter the property of products.Pharmaceutical packaging material includes primary packaging system, secondary packaging system and tertiary packaging system. The various containers used for pharmaceutical products are bottle, blister, ampoule, cartridge, single dose container, tube and vial. The raw materials which are used for pharmaceutical packaging includes plastic, glass, paper, cardboard, metal and rubber. The global market for pharmaceutical packaging equipment is expected to witness high growth owing to increase in demand for new and flexible packaging equipment, and technological advancements related to labeling.
The liquid packaging equipment segment occupied the largest share of the overall market in 2016, due to increasing demand for automation and increase in prevalence of eye and ear disorders resulting in increased use of liquid dosage. Based on packaging type,the primary packaging segment held the major share of the overall market in 2016, due to technological advancements and increasing regulatory modifications related to pharmaceutical product packaging. The aseptic filling and sealing equipment segment dominated the global primary packaging equipment market in 2016.
North America occupied the largest share of the overall market in 2016, due to R&D expenditure and existence of major pharmaceutical companies in this region.Asia-Pacific is poised to grow at highest rate during the forecast period. This is attributed to factors such as increasing aging population, rise in manufacturing activities and rapid development in pharma and biotech infrastructure. Moreover, theNorth American and European pharmaceutical companies are outsourcing their manufacturing processes to Asian countries due to low labor cost, which is further contributing to the market growth.
Key players in the global pharmaceutical packaging equipment market includeUhlmann-Group, Romaco Pharmatechnik GmbH, MULTIVAC, Körber AG, I.M.A. IndustriaMacchine Automatiche S.p.A., OPTIMA packaging group GmbH, Robert Bosch Gmbh, MG2 s.r.l., Bausch &StröbelMaschinenfabrikilshofenGmbh Co. Kg. and Marchesini Group S.p.A.
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Key Findings of the Research Study:
- The liquid packaging equipment segment held the major share of the overall market in 2016, due to increase in prevalence of eye and ear disorders.
- The primary packaging segment held the major share of the overall market in 2016, due owing to increase in need for unit dosage forms.
- North America accounted for one-third share of the global market in 2016, due to advancements in packaging technology and rise in demand for single unit liquid doses.
- Asia-Pacific is poised to grow at highest rate during the forecast period as large number of pharma and biotech companies from U.S. and Europe are outsourcing their manufacturing operations due to low labor cost.
About Crystal Market Research
Crystal Market Research is a U.S. based market research and business intelligence company. Crystal offers one stop solution for market research, business intelligence, and consulting services to help clients make more informed decisions. It provides both syndicated as well as customized research studies for its customers spread across the globe. The company offers market intelligence reports across a broad range of industries including healthcare, chemicals & materials, technology, automotive, and energy.
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