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Strong Growth Forecasted: Dispensing Pharmacy Packaging Market to Reach $3.18B by 2028, Driven by Ageing Population and R&D

04-18-2024 10:53 AM CET | Health & Medicine

Press release from: The Business Research Company

Dispensing Pharmacy Packaging Market Report

Dispensing Pharmacy Packaging Market Report

The dispensing pharmacy packaging machine market size has grown strongly in recent years. It will grow from $2.03 billion in 2023 to $2.21 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to increase in pharmaceutical r&d expenditure, increased healthcare expenditure, rise in disposable income, growing penetration of retail pharmacies, emerging markets growth and increasing population.

The dispensing pharmacy packaging machine market size is expected to see strong growth in the next few years. It will grow to $3.18 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The growth in the forecast period can be attributed to faster economic growth, growth of pharmaceutical manufacturing, rise in ageing population and increasing government initiatives. Major trends in the forecast period include increasing research and development activities, product innovation, new technology development, mergers and acquisitions, partnerships and collaborations and increasing investments.

Market Overview -
The dispensing pharmacy packaging machine is used in preparing medications and nutraceuticals for secure distribution. Pharmacy packaging entails properly positioning the medications in order to preserve and keep their therapeutic efficacy. Packaging improves the product's overall appearance of quality and aids in permitting strong branding, which promotes the success of businesses.

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The Surge In Biopharma Drives Growth In The Dispensing Pharmacy Packaging Market
The rising growth of biopharma is expected to propel the growth of the dispensing pharmacy packaging going forward. Biopharma refers to medical drugs produced using biotechnology. Pharmaceutical packaging machinery provides efficient solutions for preparing pharmaceutical and nutraceutical products for distribution. For instance, according to HCP Detection, an International organizational website for detecting host cell protein data, global biopharmaceuticals are increasing, and the forecast for 2023 is estimated to reach USD 341.16 billion. Therefore, the rising growth of biopharma is driving the dispensing pharmacy packaging machine market.

Competitive Landscape -
Major companies operating in the dispensing pharmacy packaging machine market report are Yuyama Manufacturing Co Ltd, TOSHO Inc, Marchesini Group SPA, Canon Inc, JVM Co Ltd, Takazono Corporation, I.M.A. INDUSTRIA MACCHINE AUTOMATICHE S.P.A, Optima Packaging Group GmbH, Romaco Group, Bausch+Stroebel, Uflex Limited, Parekhplast India Limited, Essel Propack Limited, Nipro India Corporation Pvt. Ltd, Shanghai Fosun Pharmaceutical (Group) Co Ltd, Yung Chung machinery co, Jiangsu Yangtze River Pharmaceutical Group, Huhtamaki India Ltd, Vannpax, Blister Packaging Machine, Parata, SGD Pharma, Heqian Industry Co, Abnova, Brothers Pharmamach, Syntegon Technology, Robotik Technology, Constantia Flexibles Pharma, Robert Bosch GmbH, Dara Pharma, Electropak, LOG Primary Packaging, GSK, Novo Nordisk, Sanofi, Novartis, Swisslog Healthcare, Bayer Healthcare Co Ltd, Chiesi Pharmaceuticals, Actelion Pharmaceuticals UK Ltd, AstraZeneca and OMAG Srl, Alpen Pharma Group, AbbVie Ltd, MTS Medication Technologies, Pfizer, IMA Group, Masipack, Pyxis, BD, ATG Pharma, McKesson Canada, Medical Packaging Inc, ARxIUM, Talyst, Shanghai Roche Pharmaceutical Co. Ltd, Amgen, Abbott Diabetes Care, Opuspac, Naveh Pharma LTD, Frank Noe Egypt

Advancements In Technology Drive Evolution Of Dispensing Pharmacy Packaging Machines
Technological advancements are a key trend gaining popularity in the dispensing pharmacy packaging machines market. Major companies operating in dispensing pharmacy packaging machines to strengthen their position in the market. For instance, in October 2021, ATS Packaging Machinery, an Italy-based company operating in the dispensing pharmacy packaging machines market launched a new Gemini capping machine. This new machine has been developed with Siemens machine control technology and includes features such as providing preventative maintenance and remote diagnostics and service support and is suitable across a wide range of industrial applications including pharmaceuticals. It is also suitable for dispensing pumps that work with maximum flexibility.

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https://www.thebusinessresearchcompany.com/report/dispensing-pharmacy-packaging-machine-global-market-report

Key Segments -
The dispensing pharmacy packaging machine market covered in this report is segmented -

1) By Product Type: Fully Automatic, Semi-Automatic
2) By Speed: Low Speed, Standard Speed, High Speed
3) By Function: Filling, Wrapping, Mixing And Split, Other Functions

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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