Press release
Global Pharmaceutical Packaging Testing Equipment Market: TOP Key Players Profile - Labthink, TM Electronics Inc., West Pharmaceutical Services Inc., Qualitest International Inc
Global Pharmaceutical Packaging Testing Equipment Market – Industry Trends and Forecast to 2024
Global Pharmaceutical Packaging Testing Equipment Market is expected to reach USD 46.73 billion by 2024 from USD 20.87 billion in 2016, at a CAGR of 10.6% in the forecast period 2017 to 2024. The new market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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Global Pharmaceutical Packaging Testing Equipment Market by Equipment {permeability analyser (gas permeation tester and container gas permeability tester), package vibration tester, moisture meter, package drop tester, creasing and stiffness tester and texture analyser}, Services {container closure integrity testing(vacuum & pressure decay, high voltage leak detection, helium leak detection, and oxygen headspace), container testing (extractables testing, container permeation testing, material identification testing, and functionality testing), raw material testing, shelf life testing, microbial testing, physical chemical characterization, stability testing, environmental monitoring, visual inspection and functional testing, method validation, and batch-release testing}, End Users (contract research organizations, testing laboratories, research institutions, pharmaceutical companies, and government organisations), Geography (North America, Europe, Asia-Pacific, South America, Middle East Africa)– Industry Trends and Forecast to 2024
Key Drivers:-
Some of the major factors driving the market for pharmaceutical packaging testing equipment market are critical of packaging for pharmaceutical drugs and mandatory guidelines. These factors increase the demand for pharmaceutical packaging testing equipment market. Rising demand for pharmaceutical packaging testing equipment, and technological advancements are the major factors driving the growth of the pharmaceutical packaging testing equipment market.
Shortage of skilled professionals and high cost are the factors which may hinder the growth of this market.
Many companies are increasingly focusing on extractables testing and vacuum and pressure decay testing in order to strengthen their product portfolios in the pharmaceutical packaging testing equipment market.
Increasing demand for permeability analysers, and extractables testing will drive the market in future.
The major factors driving the growth of this market are the criticality of packaging for pharmaceutical drugs, technological advancements. These factors increase the demand for pharmaceutical packaging testing equipment products. On the other hand, shortage of skilled professionals and high cost may hinder the growth of the market.
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Key Points:
Permeability analysers market is growing with the highest CAGR.
Globally extractables testing are driving the market with highest market share.
Container closure integrity testing is dominating the pharmaceutical packaging testing services market.
Top Competitors:
• Labthink,
• TM Electronics Inc.
• West Pharmaceutical Services Inc.
• Qualitest International Inc,
• AMETEK Inc.,
• TEN-E Packaging Services Inc,
• PTI packaging technologies and inspection,
• Albany Molecular Research Inc. (AMRI),
• Westpak, Inc.
• among others.
CRITICALITY OF PACKAGING FOR PHARMACEUTICAL DRUGS
The safety of drugs can be ensured by using the good packaging material such as glass, metals plastics according to the drug, which can be ensured when the packaging undergoes the testing such as vibration testing, moisture testing and many more. Need and importance of packaging of the pharmaceutical drugs is driving the market for pharmaceutical packaging testing equipment.
MANDATORY GUIDELINES
The criticality of the pharmaceutical packaging resulted in the mandatory guidelines by the government for packaging testing, leading to the growth of the pharmaceutical packaging testing equipment market.
TECHNOLOGICAL ADVANCEMENTS AND INNOVATIONS IN PHARMACEUTICAL PACKAGING TESTING EQUIPMENT MARKET
The pharmaceutical packaging testing equipment technology market is expected to show significant growth in the coming years, due to various technological advancements and new product launches in order to improve the quality of packaging of the pharmaceutical drugs.
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