The global pharmaceutical packaging equipment market size was US$ 8.17 billion in 2021. The global pharmaceutical packaging equipment market size is forecast to reach US$ 22.67 billion by 2030, growing at a compound annual growth rate (CAGR) of 12% during the forecast period from 2022 to 2030.
Pharmaceutical packaging, also known as drug packaging, refers to the packages and methods used to package pharmaceutical preparations. All packaging processes - from primary packages to distribution packs - require packaging machinery. Several packaging processes are involved: fabrication, cleaning, filling, sealing, combining, labeling, overwrapping, palletizing. Pharmaceutical packaging machinery offers efficient solutions for distributing pharmaceutical and nutraceutical products. Pharmaceutical packaging equipment includes sealers, label applicators, case packers, hand packing stations, and hard glaze over wrappers.
Factors Influencing Market Growth
Impact Analysis of COVID-19
Due to the COVID-19 pandemic, pharmaceutical companies have carried out significantly more R&D procedures. Scientists and researchers worldwide were working on vaccines and medications to treat COVID-19. These developments have impacted the pharmaceutical packaging equipment market directly. As a result of the worldwide COVID-19 outbreak, several companies have experienced an increase in sales of pharmaceutical packaging equipment. Nevertheless, companies around the globe are facing challenges due to the closing down of non-essential businesses. As a result, several obstacles have arisen in the supply chain of raw materials required for packaging, resulting in a demand-supply gap.
Regional Insights
Europe is forecast to hold the largest market share for pharmaceutical packaging equipment during the forecast period. A large part of the growth in the European market is due to the high pharmaceutical production, the increasing demand for flexible packaging equipment among pharmaceutical manufacturers, and the increasing focus on product diversification among companies, which is fostering the demand for innovative packaging equipment. Furthermore, regulatory changes require pharmaceutical manufacturers to replace their older equipment with new equipment to comply with changing standards.
The Asia-Pacific region dominates the pharmaceutical packaging equipment market. The reasons for this growth are the development of integrated pharmaceutical packaging lines that reduce the downtime of packaging, high investment from large organizations, technological advancement, and an increase in the number of FDA-approved manufacturing sites in emerging economies. Indian and Chinese markets are promising in the Asia-Pacific region.
Leading Competitors
The leading prominent companies profiled in the global pharmaceutical packaging equipment market are:
Scope of the Report
The global pharmaceutical packaging equipment market segmentation focuses on Product Type, Packaging Type, and Region.
Segmentation based on Product Type
Segmentation based on Packaging Type
Segmentation based on Region
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