Press release
Ensuring Safety: Pharmaceutical Packaging Testing Equipment Market 2024 | Growth, Trends, and Forecast
Pharmaceutical Packaging Testing Equipment Market
The pharmaceutical packaging testing equipment market size is expected to see strong growth in the next few years. It will grow to $5.09 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to continued regulatory pressure, increasing focus on sustainability,shift toward biologics and personalized medicine,innovative packaging materials,emphasis on patient safety. Major trends in the forecast period include advancements in technology, regulatory compliance, quality assurance and control, data integrity and connectivity, customization and flexibility.
Market Overview -
Pharmaceutical packaging testing equipment refers to solutions used for pharmaceutical and nutraceutical products packaging. The equipment for pharmaceutical testing packaging include hard film overwrappers, case packers, label applicators, sealers, and label applicators. It is utilised in pharmaceutical medicine packaging.
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The Pharmaceutical Industry's Expansion As A Key Driver For Growth In The Pharmaceutical Packaging Testing Equipment Market
The expansion of the pharmaceutical industry is a major driver propelling the pharmaceutical packaging testing equipment market. Pharmaceutical products refer to research, creation, and production in the pharmaceutical industry. It involves many different things, including research, chemicals, regulation, and the engagement of government organizations. Pharmaceutical packaging testing equipment helps the growth of the pharmaceutical industry by enabling globally improved regulatory flexibility and increased government cooperation, which resulted in the pharma industry's largely avoiding supply chain and API disruptions. As a result, major companies announced expansions. For instance, in May 2022, Eli Lilly, a USA-based pharmaceutical company, announced plans to build two new manufacturing sites with a $2.1 billion investment in its LEAP Lebanon Innovation and Research District. Therefore, the expansion of the pharmaceutical industry will continue to drive the pharmaceutical packaging testing equipment market.
Competitive Landscape -
Major companies operating in the pharmaceutical packaging testing equipment market report are Labthink International Inc., Union Park Capital LLC, West Pharmaceutical Services Inc., Qualitest International Inc., AMETEK Inc., Test & Calibration, Packaging Technologies & Inspection LLC, Westpak Inc., Eurofins Scientific SE, Intertek Group plc, SGS SA, TASI Group, Edwards' Analytical Limited, NSF International, Nelson Laboratories LLC, CVC Technologies Inc., Zwick Roell Group, Lighthouse Instruments LLC, Bruker Corporation, Sepha Ltd., TME Systems Pte Ltd., Qualicaps Co Ltd., ACG Group, Bosch Packaging Technology, Thermo Fisher Scientific Inc., Marchesini Group, MG America Inc., Romaco Group, Uhlmann Group, Optel Group, Antares Vision Group, Mettler-Toledo International Inc. .
Innovative Technological Solutions Driving Growth In The Pharmaceutical Packaging Testing Equipment Market
Technological innovation is a key trend in the pharmaceutical packaging testing equipment market. Pharmaceutical packaging testing equipment provides efficient solutions for preparing pharmaceutical and nutraceutical products for distribution. The most recent equipment for pharmaceutical packaging may include hard film over wrappers, case packers, label applicators, sealers, and label applicators. The COVID-19 pandemic forced companies to innovate and design no-contact packaging solutions. For instance, in August 2022, Testronix Instruments, an India-based manufacturing company, launched a next-generation packaging testing instruments to meet the growing demand for accurate and reliable packaging testing.
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Key Segments -
The pharmaceutical packaging testing equipment market covered in this report is segmented -
1) By Type: Services, Equipment
2) By Product: Primary Packaging Equipment, Secondary Packaging Equipment, Labeling And Serialization Equipment
3) By End User: Pharmaceutical Companies, Contract Research Organizations, Government Organizations, Research Institutions, Testing Laboratories
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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