November 26, 2019
According to the research report titled ‘Global Pharmaceutical Packaging Equipment Market: By Product Type (Solids, Semi-Solids, Liquids), By Package Type (Primary, Secondary, Labeling and Serialization), By Region, By Country: Opportunities and Forecasts (2018-2023)’ available with Market Study Report LLC, the global pharmaceutical packaging equipment market is expected to grow with a CAGR of 7.01% during the period of 2018-2023.
Thriving market for generics and biopharmaceuticals, coupled with growing awareness regarding healthcare among consumers and development of innovative medical products are fueling the growth of pharmaceutical packaging equipment market. Further expansion of market can be attributed to escalating healthcare expenditure in developing nations. Rising elderly population suffering from inveterate disorders, along with surging need of medical products, and evolution of drug distribution process involving product packaging will augment the demand for pharmaceutical packaging equipment.
As per product type, pharmaceutical packaging equipment market is categorized into liquids, semi-solids and solids. According to the research report, the liquids segment is presumed to dominate the market in the upcoming years. In terms of packaging type, the market is classified into primary, secondary, and labeling & serialization.
Considering the geographical landscape, the global pharmaceutical packaging equipment market is divided into regions namely, Europe, North America, APAC, and rest of the world, with key focus on countries such as Canada, US, Germany, India, China, UK, Mexico, and Brazil.
The report cites that North America pharmaceutical packaging equipment market held the largest share in 2018. However, Asia-Pacific market is expected to grow substantially over the forecast period, owing to rising disposable income and large consumer base, especially in developing economies like India and China.
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The key players in the global pharmaceutical packaging equipment market are MULTIVAC Group, Romaco Pharmatechnik, Körber AG, Marchesini Group, Bosh Packaging Technology, OPTIMA Packaging Group GmbH, Uhlmann Group, MG2, IMA S.p.A and Trustar Pharma & Packaging Equipment Co., Ltd.
Notably, the research report discusses the potential growth opportunities in global pharmaceutical packaging equipment market. The study further aims to provide top-notch business information to help investors to evaluate their investments thoroughly.
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