Pharmaceutical Packaging Equipment Market Size, Share, Industry Trends and Forecast to 2030

Pharmaceutical Packaging Equipment Market Size & CAGR in 2021

The global pharmaceutical packaging equipment market is expected to witness a steady growth rate with a CAGR of 4.5% from 2021 to 2026. In 2021, the market size was estimated to be USD 7.2 billion. The increasing demand for pharmaceutical products due to the rising prevalence of chronic diseases, advancements in drug delivery technologies, and stringent regulations for packaging and labeling are driving the growth of the pharmaceutical packaging equipment market.

COVID-19 Impact on the Pharmaceutical Packaging Equipment Market

The COVID-19 pandemic has had a mixed impact on the pharmaceutical packaging equipment market. On one hand, the increased demand for pharmaceutical products, especially vaccines, has led to a surge in the need for efficient and reliable packaging equipment. On the other hand, disruptions in the global supply chain, lockdowns, and restrictions on movement have affected the production and distribution of packaging equipment.

Pharmaceutical Packaging Equipment Dynamics

The pharmaceutical packaging equipment market is driven by factors such as the growing pharmaceutical industry, increased focus on patient safety, and technological advancements in packaging solutions. Additionally, the need for flexible and automated packaging equipment to meet the diverse requirements of pharmaceutical companies is boosting market growth. However, challenges related to pricing pressures, regulatory compliance, and environmental sustainability are restraining factors for the market.

Segments and Related Analysis

The pharmaceutical packaging equipment market is segmented based on equipment type, packaging type, drug delivery mode, and region. The equipment type segment includes primary packaging equipment, secondary packaging equipment, and labeling and serialization equipment. The packaging type segment comprises bottles, vials, ampoules, blister packs, and others. The drug delivery mode segment includes oral, injectable, topical, and others.

By Region Analysis

In terms of region, North America dominates the pharmaceutical packaging equipment market, followed by Europe and Asia Pacific. The presence of major pharmaceutical companies, advanced healthcare infrastructure, and regulatory compliance drive the market growth in North America. The Asia Pacific region is expected to witness significant growth due to the increasing investments in the pharmaceutical sector, rising healthcare expenditure, and expanding pharmaceutical manufacturing capabilities.

Key Market Players and Competitive Landscape

Some of the key players in the pharmaceutical packaging equipment market include Bosch Packaging Technology, Marchesini Group, IMA Group, Uhlmann Group, and Romaco Pharmatechnik. These companies are focusing on product innovation, strategic partnerships, and mergers and acquisitions to strengthen their market position and expand their product portfolios. The competitive landscape of the market is characterized by intense competition, technological advancements, and new product launches.

Recent Happenings in the Pharmaceutical Packaging Equipment Market

- In June 2021, Bosch Packaging Technology launched a new vertical packaging machine for pharmaceutical products. - In August 2021, Marchesini Group acquired a packaging equipment manufacturer to enhance its product offerings. - In October 2021, IMA Group introduced a new line of labeling and serialization equipment for pharmaceutical companies. - In November 2021, Uhlmann Group collaborated with a healthcare technology company to develop advanced packaging solutions for pharmaceutical products. - In December 2021, Romaco Pharmatechnik announced the launch of a new blister packaging machine for the pharmaceutical industry.