The upcoming market report contains data for historic years 2014 & 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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The Global Pharmaceutical Packaging Equipment Market is expected to grow at a CAGR of 7.20% during the forecast period of 2017 to 2024.
Global Pharmaceutical Packaging Equipment Market By Product Type, Application , Drug Delivery ,Raw Material, Purchase Organization (Manufacturer, Packaging Companies, Government Agencies), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)– Industry Trends and Forecast to 2024
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This market report defines the market trends and forecast the upcoming opportunities and threats of the pharmaceutical packaging equipment market in the next 8 years.Pharmaceutical packaging equipment refers to the packaging process for all the pharmaceutical preparations which involves operations from production through distribution. Packing involves everything such as dispensing, dosing and all the pharmaceutical products in use.
Rapid growth in the pharmaceutical industry and high research and development expenditure is driving the growth of this market.
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Global Pharmaceutical Packaging Equipment Market Segmentation:
The Global Pharmaceutical Packaging Equipment Market is segmented based on product type, application, raw material, purchase organization and geography.
- Based on product type, the global pharmaceutical packaging equipment market is segmented into plastic bottles, blister packs, labels & accessories, caps & closures, pre-filled syringes, medical specialty bags, temperature controlled packaging, pouches & strip packs, pre-filled inhalers, vials, ampoules, medication tubes, jars & canisters, cartridges and others.
- On the basis of application the global pharmaceutical packaging equipment market is classified into veterinary vaccines and drug delivery. Veterinary vaccines are further segmented into livestock vaccines, porcine vaccines, poultry vaccines, canine vaccines, feline vaccines, equine vaccines, aquaculture vaccines and others. Drug delivery is further segmented into oral drugs, pulmonary, transdermal, injectables, topical, nasal, ophthalmic, IV drugs and others.
- On the basis of raw material, the global pharmaceutical packaging equipment market is segmented into high density polyethylene, polyester, polypropylene, low density polyethylene, polyvinyl chloride, other plastics/polymers, total plastics, paper & paperboard, glass, aluminum foil and others.
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- On the basis of purchase organization, the global pharmaceutical packaging equipment market is segmented into manufacturer, packaging companies, and government agencies.
- Based on geography, the global pharmaceutical packaging equipment market report covers data points for 28 countries across multiple geographies namely North America & South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.
Major Market Drivers and Restraints:
- Expansion in generics market
- Government initiatives to decrease the healthcare expenditure
- Low labor costs
- Increase in number of drug manufactures in Europe and North America region
- High costs on equipments
- Increase in regulatory norms
- Increasing cost pressure
- Implementation of revamped packaging techniques
Major Market Competitors/Players
Some of the major players operating in the global pharmaceutical packaging equipment market are I.M.A. IndustriaMacchineAutomatiche S.p.A., Bausch and StröbelMaschinenfabrikIlshofenGmbHCo.
KG, Robert Bosch GmbH, Körber AG, Marchesini Group S.p.A., MULTIVAC, Uhlmann, OPTIMA Packaging Group GmbH, Romaco Group, Mg2 s.r.l, Accutek Packaging Equipment Companies, Inc., and ACG World Among others.
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Global Pharmaceutical Packaging Equipment Market Competitive Analysis
The Global Pharmaceutical Packaging Equipment Market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of pharmaceutical packaging equipment market for global, Europe, North America, Asia Pacific and South America.
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