Pharmaceutical Packaging Equipment Market Size (USD 15.2 billion by 2032) Achieves Record-breaking Growth in Meeting Healthcare Requirements

Allied Market Research published a report, titled, "Pharmaceutical Packaging Equipment Market by Machine Type (Filling Machines, Form, Fill And Seal Machines, Cartoning Machines, Palletizing Machines, Labelling Machines, and Others), Formulation Type (Liquid Packaging Equipment, Solid Packaging Equipment, Semi-Solid Packaging Equipment, and Others), Automation Type (Manual Packaging Equipment, Semi-Automatic Packaging Equipment and Automatic Packaging Equipment) and End User (Pharmaceutical Companies, and Contract Manufacturing Companies): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global pharmaceutical packaging equipment industry generated USD 7.6 billion in 2022 and is anticipated to generate USD 15.2 billion by 2032, witnessing a CAGR of 7.1% from 2023 to 2032.

Prime determinants of growth

The rise in growth of the pharmaceutical sector, technological advancements in pharmaceutical packaging equipment, and increase in developmental strategies in pharmaceutical packaging equipment by key players drive the growth of the global pharmaceutical packaging equipment market. However, the high cost and maintenance of pharmaceutical packaging equipment restricts market growth. Moreover, the growth opportunities in emerging markets present new opportunities in the coming years

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Economic Downturn Analysis: Impact of Recession in 2023 on the Pharmaceutical Packaging Equipment Market

• During economic downturns, there is an increased focus on cost containment and efficient resource allocation. Recessions often result in budget cuts, impacting research funding from both the public and private sectors.
• Moreover, it hampers investments in pharmaceutical packaging equipment development, slowing down innovation and the introduction of advanced pharmaceutical packaging equipment.
• However, despite budget constraints, the significance of healthcare research remains pivotal, especially during challenging times. Diseases and health concerns persist regardless of economic conditions, potentially leading to sustained demand for pharmaceutical packaging equipment for medication packaging in the pharmaceutical sector.

What are the factors driving the Acne Medication Market?

Increase in prevalence of acne diseases, surge in focus toward good quality skincare products, and unhealthy urban lifestyle drive the growth of the global acne medication market. The market across Asia-Pacific is expected to portray the highest CAGR of 4.9% during the forecast period. After several governments imposed social distancing norms and lockdown across the country, people have shifted toward telemedicine to treat acne diseases.

Top Pharmaceutical Packaging Equipment Companies

• Syntegon Holding GmbH
• OPTIMA industries GmbH & Co. KG.
• Industria Macchine Automatiche S.p.A.
• Korber AG
• Bausch + Ströbel
• Coesia S.P.A.
• Marchesini Group S.p.A.
• Romaco Group
• Multivac Group
• ACG Group

Pharmaceutical Packaging Equipment Market Segmentation: -

Based on product, the filling machine segment held the largest market share in 2022, accounting for more than two-fifths of the global pharmaceutical packaging equipment market revenue. This is attributed to the rise in demand for filling machines in the pharmaceutical industry.

Based on formulation type, the liquid packaging equipment segment held the largest market share in 2022, accounting for less than two-fifths of the global pharmaceutical packaging equipment market revenue. This is attributed to an increase in demand for liquid packaging equipment as liquid pharmaceuticals are often sensitive to external factors, such as light, oxygen, and temperature. Liquid packaging equipment that ensures the quality and integrity of pharmaceutical products by minimizing contamination and maintaining product stability is essential.

Based on automation type, the semi-automatic packaging equipment segment held the largest market share in 2022, accounting for more than half of the global pharmaceutical packaging equipment market. This is attributed to the cost-effectiveness of the semi-automatic machines that offer a balance between automation and flexibility.

Based on region, Asia-Pacific held the largest market share in terms of revenue in 2022, accounting for nearly one-third of the global pharmaceutical packaging equipment market revenue and is likely to dominate the market during the forecast period. This is attributed to the rise in healthcare expenditure, coupled with government initiatives to improve healthcare facilities by increasing medication manufacturing.

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Our Market Research Solution Provides You Answer to Below Mentioned Question:

• Which are the driving factors responsible for the growth of market?
• Which are the roadblock factors of this market?
• What are the new opportunities, by which market will grow in coming years?
• What are the trends of this market?
• Which are main factors responsible for new product launch?
• How big is the global & regional market in terms of revenue, sales and production?
• How far will the market grow in forecast period in terms of revenue, sales and production?
• Which region is dominating the global market and what are the market shares of each region in the overall market in 2022?
• How will each segment grow over the forecast period and how much revenue will these segments account for in 2030?
• Which region has more opportunities?

By Region Outlook

• North America
(U.S., Canada, Mexico)
• Europe
(Germany, France, UK, Italy, Spain, Rest of Europe)
• Asia-Pacific
(Japan, China, India, Rest of Asia-Pacific)
• LAMEA
(Brazil, Saudi Arabia, South Africa, Rest of LAMEA)

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This release was published on openPR.