Pharmaceutical Packaging Equipment Market Size, Share & Trends Analysis Report By Machine Type (Filling, Labelling, Cartoning), By Region, And Segment Forecasts, 2024 - 2030

Pharmaceutical Packaging Equipment Market Size, Share & Trends Analysis Report By Machine Type (Filling, Labelling, Cartoning), By Region, And Segment Forecasts, 2024 - 2030

Pharmaceutical Packaging Equipment Market Growth & Trends

The global pharmaceutical packaging equipment market size is anticipated to reach USD 8.69 billion by 2030 and expand at a CAGR of 5.8% during the forecast period, according to a new report by Grand View Research, Inc. The rapid growth in the pharmaceutical industry and the growing demand for drug delivery devices are expected to propel the demand for market in the coming years.

According to the European Federation of Pharmaceutical Industries & Associations, the global pharmaceutical market was valued at USD 1.47 trillion in 2020 and is expected to reach USD 2.23 trillion by 2028, propelling at a significant growth rate. The burgeoning growth of the pharmaceutical industry has become a pivotal driver for the escalating demand in the market. As the pharmaceutical sector expands globally, propelled by increasing healthcare needs, rising chronic diseases, and advancements in medical research, there is a parallel surge in the demand for efficient and sophisticated packaging solutions.

Furthermore, pharmaceutical packaging equipment plays a crucial role in ensuring the safety, integrity, and compliance of pharmaceutical products, meeting the stringent regulations imposed by health authorities. The need for innovative packaging solutions, including blister packaging, bottle filling, and labeling machinery, is intensifying to cater to diverse pharmaceutical formulations. This symbiotic relationship between the pharmaceutical and packaging industries underscores the significance of packaging equipment in safeguarding the efficacy of medicines while facilitating the seamless distribution and delivery of healthcare products worldwide.

The increasing demand for drug delivery devices and blister packaging in developing nations is poised to emerge as a significant driver for the pharmaceutical industry. Advanced drug delivery systems offer notable advantages over traditional methods, including enhanced efficiency, convenient administration routes, improved targeting, reduced toxic metabolites, prolonged drug activity, and reduced margin for error. These advantages and continuous advancements in targeted drug delivery facilitate localized disease treatment with minimal impact on surrounding healthy cells. As a result, these factors are anticipated to contribute significantly to the growth of the global drug delivery devices market, consequently boosting the pharmaceutical packaging market in the foreseeable future.

Pharmaceutical Packaging Equipment Market Report Highlights

• The filling segment dominated the machine type segment with a 35.6% share in 2023 due to streamlining the production process by precisely and efficiently dispensing pharmaceutical formulations into various containers such as vials, bottles, and syringes
• Filling machines ensure accuracy in dosage, maintain sterility, and comply with stringent regulatory standards, guaranteeing the integrity and safety of pharmaceutical products
• The wrapping machine segment is expected to grow at the fastest CAGR over the forecast period
• Research-based pharmaceutical companies, especially in Europe and North America, continually invest in development and introduction of new drug delivery systems. It has led to continuous mergers and profitable partnerships between major pharmaceutical companies
• Transdermal technologies such as needle-free devices alone have opened new avenues for pharmaceutical partners seeking to create delivery mechanisms for existing molecules with no viable delivery systems. It may boost the drug delivery devices market over the forecast period, fueling the pharmaceutical packaging market in the coming years
• Asia Pacific dominated the market owing to the expansion of the pharmaceutical sector in the region, especially in the developing economies of Asia Pacific
• In August 2023, MULTIVAC Group inaugurated a new production facility in India, representing a substantial investment of approximately USD 9.8 million. The state-of-the-art building complex, encompassing 10,000 square meters for sales and production, is slated to commence operations in early 2024. Initially, the site will employ around 60 individuals. The primary objective is to enhance customer service in India, Sri Lanka, and Bangladesh by leveraging regional proximity and reducing delivery times

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