Albany - NY, Sept. 14, 2015 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research titled "Pharmaceutical Packaging Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021", the market was valued at US$5.1 bn in 2014 and is expected to reach US$8.1 bn by 2021, at a CAGR of 6.8% through the forecast period.
Technological innovation and integration and development in manufacturing process of pharmaceutical products are some of the major factors fueling the pharmaceutical packaging equipment market globally. Moreover, increasing demand for anti-counterfeit measures, product protection and patient compliance, among others, has significantly resulted in production of innovative packaging equipment with better tolerance limit, reliability, and accuracy. Abrupt rise in the number of manufacturing utilities owing to patent expiration of vital drugs is also expected to drive the market for pharmaceutical packaging equipment indirectly.
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The pharmaceutical packaging equipment market has shifted from conventional packaging to automated, modern, flexible and integrated packaging lines. In addition, development of novel drug delivery systems, such as personalized drugs, and regulatory variations regarding packaging of pharmaceutical products are anticipated to play an important role in the growth of the market during the forecast period from 2015 to 2021. Furthermore, high import duties along with need for cheaper manufacturing facilities create a remarkable opportunity for the pharmaceutical packaging equipment market in developing countries such as India and China. However, usage of revamped packaging equipment by small scale manufacturers is inhibiting the growth of the market.
The global pharmaceutical packaging equipment market has been segmented by product type broadly into liquids packaging equipment, semi-solids packaging equipment, and solids packaging equipment. Liquids packaging equipment held the largest share of the market globally in 2014 and accounted for more than 45% of the market owing to increasing applications of liquid packaging equipment in efficient, reliable, and coordinated filling and packaging of liquid products.
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In terms of package types, the global market for of pharmaceutical packaging equipment is bifurcated into primary packaging equipment and secondary packaging equipment. Primary packaging equipment held the largest share in the market in 2014 and is expected to remain the market leader throughout the forecast period. Increasing preference of end users for unit dosage forms is one of the major factors boosting the demand for primary packaging in the forecast period.
The global pharmaceutical packaging equipment market has been classified into four regions, including North America, Europe, Asia Pacific, and Rest of the World (RoW). North America acquired the largest share in the global market in terms of revenue in 2014 and accounted for more than 30%. The market in North America is primarily driven by increasing demand for innovative drug delivery techniques and sophisticated packaging along with rapid growth of the pharmaceutical industry in the U.S. and Canada. Asia Pacific held the second largest market globally and accounted for close to 30%. The market in this region is driven by increasing investments by existing pharmaceutical equipment manufacturers in the high-growth markets of India and China, among others.
Some of the major players in the pharmaceutical packaging equipment market are Korber A.G., Mg2 S.R.L., IMA S.P.A., Robert Bosch GmbH, Multivac Group, Bausch and Strobel Maschinenfabrik Ilshofen GmbHCo. Kg, Optima Packaging Group GmbH, Marchesini Group Spa, Uhlmann Group, and Romaco Pharmatechnik GmbH. The market is fragmented, with a large number of players operating in the global market for pharmaceutical packaging equipment.
This report provides in-depth analysis of the global pharmaceutical packaging equipment market along with the market estimates, in terms of revenue (US$ mn) for the forecast period from 2015 to 2021.
The market has been segmented as follows:
Pharmaceutical Packaging Equipment Market, by Product Types
Solids Packaging Equipment
- Tablet Packaging Equipment
- Capsule Packaging Equipment
- Powder Packaging Equipment
Semi-Solids Packaging Equipment
- Ointment Packaging Equipment
- Cream Packaging Equipment
Liquids Packaging Equipment
- Eye/Ear Drop Packaging Equipment
- Aerosol Packaging Equipment
- Syrup Packaging Equipment
Pharmaceutical Packaging Equipment Market, by Package Types
Primary Packaging Equipment
- Aseptic Filling and Sealing Equipment
- Bottle Filling and Capping Equipment
- Blister Packaging Equipment
- Soft Tube Filling and Sealing Equipment
- Sachet Packaging Equipment
Secondary Packaging Equipment
- Cartooning Equipment
- Case Packaging Equipment
- Wrapping Equipment
Pharmaceutical Packaging Equipment Market, by Geography:
The market is broadly segmented on the basis of geography into:
- United States
- United Kingdom
- Rest of Europe
- Rest of Asia Pacific
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Source:Transparency Market Research