Press release
Pharmaceutical Packaging Equipment Market: Greater Precision and Sophistication in Automation is the Way Ahead
According to TMR, the opportunity in the global pharmaceutical packaging equipment market is anticipated to be worth US$8.14 bn by 2021 as compared to US$5.13 bn in 2014. Between the forecast period of 2015 and 2021, the market is expected to exhibit a CAGR of 6.8%.
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“Players will have to introduce precision-driven equipment to remain competitive in the highly fragmented market,” says the lead author of this research report. Delivering equipment that comes with advanced processing and packaging technologies will change the win the players a large consumer base in the near future.
Mergers and acquisitions will also be an emerging trend amongst the key players in the global pharmaceutical packaging equipment market as companies vie for improved geographical reach and strong brand presence.
Adoption of Technological Advancements Increases Sales of Pharmaceutical Packaging Equipment
The rise of the pharmaceutical industry has largely contributed towards the growth of the global pharmaceutical packaging equipment market. Advancements in manufacturing processes, technological innovation, and adoption of these technological advancements have all contributed towards perfecting the success of this market in the recent years. The improved efficiency, accuracy, speed, and reliability of pharmaceutical packaging equipment has also contributed towards increasing sales of pharmaceutical packaging equipment across the globe.
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Increasing investments in research and development have played a crucial role in shaping this market over the past decade. It has brought in stability and uninterrupted developments in a wide range of equipment available in the market. The introduction of automation in packaging lines as seen in cartooning equipment and blister packaging lines have considerably steered the global market towards achieving higher revenues.
Strict standards set by various governments across the globe about the packaging conditions of pharmaceuticals to prevent any negative impact on human health have also spurred a demand for modern pharmaceutical packaging equipment. Novel packaging methods as can be seen in the case of nasal sprays, inhalers, patches, and dissolving strips are also likely to open up a plethora of opportunities for this equipment market.
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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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