The global pharmaceutical packaging equipment market size is expected to be valued at USD 5.6 billion in 2023. Increasing demand for sustainable packaging solutions, bolsters the overall scope for pharmaceutical packaging equipment market, which is projected to grow at a CAGR of 4.1% between 2023 and 2033, totaling around USD 8.4 billion by 2033.
| Data Points | Key Statistics |
|---|---|
| Pharmaceutical Packaging Equipment Market Value 2023 | USD 5.6 billion |
| Pharmaceutical Packaging Equipment Market Projected Value (2033) | USD 8.4 billion |
| Pharmaceutical Packaging Equipment Market CAGR (2023 to 2033) | 4.1% |
The integration of track-and-trace systems is a significant trend accelerating the growth of the pharmaceutical packaging equipment market. Track-and-trace systems are designed to enhance drug traceability, improve supply chain security, and combat the proliferation of counterfeit pharmaceutical products. The systems enable the monitoring and tracking of pharmaceutical products from manufacturing to distribution, ensuring their authenticity and safety.
Pharmaceutical packaging equipment manufacturers are developing solutions that seamlessly integrate with track-and-trace technologies. One key aspect of this integration is serialization, which involves assigning a unique identifier or code to each individual unit of a pharmaceutical product. The identifier can be in the form of a barcode, QR code, or other machine-readable formats. Packaging equipment is equipped with the capability to print or apply these identifiers onto the packaging material or labels.
Serialization systems enable the generation and capture of unique identifiers, which are then recorded in a central database or repository. The database serves as a repository of information regarding the product's manufacturing batch, expiration date, and other critical details. The product moves through the supply chain, and its unique identifier is scanned and tracked at various checkpoints, including manufacturing, packaging, distribution, and dispensing.
Aggregation is another important aspect of track-and-trace systems. It involves grouping individual units of pharmaceutical products into larger units or batches for easier tracking and monitoring. Pharmaceutical packaging equipment is designed to handle aggregation processes by incorporating features such as aggregation stations or cameras that can capture and verify the unique identifiers of multiple units.
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The global demand for pharmaceutical packaging equipment is projected to increase at a CAGR of 5.8% during the forecast period between 2018 and 2022, reaching a total of USD 8.4 billion in 2033. The pharmaceutical packaging equipment market was valued at USD 5.1 billion in 2022.
The global pharmaceutical packaging equipment market, from 2018 to 2022, witnessed steady growth, owing to the increased outsourcing of packaging services to contract packaging organizations (CPOs). Pharmaceutical companies are turning to CPOs to handle their packaging needs for several reasons.
The outsourcing packaging services allows pharmaceutical companies to reduce costs and optimize their resources. They can avoid significant investments in packaging equipment, infrastructure, and personnel, by partnering with CPOs. CPOs often have specialized packaging facilities and expertise, enabling them to provide efficient and cost-effective packaging solutions.
Outsourcing packaging services enables pharmaceutical companies to focus on their core competencies, such as research, development, and marketing. Packaging is a critical aspect of the pharmaceutical supply chain, but it can be complex and time-consuming. Pharmaceutical companies, by entrusting packaging to CPOs, can allocate their resources and attention to areas where they can add the most value and differentiate themselves in the market.
CPOs often possess specialized packaging expertise and knowledge of regulatory requirements. They stay updated with the latest packaging technologies, materials, and industry best practices, which allows them to provide innovative and compliant packaging solutions to their pharmaceutical clients. CPOs invest in advanced packaging equipment that meets the specific needs of the pharmaceutical industry, including capabilities for various packaging formats, labeling, serialization, and quality assurance.
Adoption of Advanced Technologies are Likely to be Beneficial for Market Growth
The adoption of advanced technologies in pharmaceutical packaging equipment is revolutionizing the industry by enhancing efficiency, accuracy, and quality. Automation and robotics play a crucial role in streamlining packaging processes and reducing human error. The technologies enable precise and consistent packaging, ensuring that the right quantity of medication is packaged in each unit.
One of the key advancements is the integration of smart sensors and IoT (Internet of Things) in packaging equipment. Smart sensors are embedded in the machinery to collect real-time data on various parameters such as temperature, humidity, pressure, and vibration. The data is then analyzed to monitor and control the packaging process, ensuring optimal conditions for product integrity and stability.
IoT connectivity enables remote monitoring and control of packaging equipment, allowing manufacturers to access real-time performance data from anywhere. The capability enables proactive maintenance and minimizes downtime by identifying potential issues in advance. Predictive analytics and machine learning algorithms can also be applied to the collected data to optimize packaging operations and improve overall equipment efficiency.
Focus on Patient Safety & Compliance to Fuel the Market Growth
Focus on patient safety and compliance is a critical trend driving the growth of the pharmaceutical packaging equipment market. The pharmaceutical industry is highly regulated, and ensuring the safety and integrity of medications is crucial to protect patient health.
Packaging equipment manufacturers are developing advanced solutions to address the specific requirements of patient safety and compliance. One key aspect is product integrity, where packaging equipment is designed to maintain the quality, efficacy, and stability of pharmaceutical products throughout their shelf life, which includes features such as barrier properties to protect against moisture, oxygen, and light, as well as technologies that maintain the desired temperature conditions during storage and transportation.
Tamper-evident packaging is another important aspect of patient safety. Packaging equipment incorporates mechanisms that provide visible signs of tampering, ensuring that patients can trust the integrity of their medications. The features include tamper-evident seals, blister packs, or other secure packaging formats that can indicate if the package has been opened or compromised.
Adoption of Automatic Pharmaceutical Packaging Equipment To Gain Traction
By automation, the automatic segment is projected to hold around 42.7% of the market share during the evaluation period. According to FMI, sales of automatic pharmaceutical equipment are expected to increase at a 5.6% CAGR during the assessment period. Hygiene maintenance and cleanliness in manufacturing facilities are key concerns among pharmaceutical vendors. The concerns have significantly increased due to the spread of the novel coronavirus. Drug manufacturers are focusing on the installation of automatic machines that requires minimum human intervention.
The adoption of automatic machines is expected to increase owing to rising processing speed and filling and sealing of drugs without contamination. Increasing demand for child-resistant, interactive, and active packaging in the pharmaceutical sector will continue pushing sales in this segment.
Sales of Blister Packaging Equipment for Tablets Will Increase
By machine type, the blister packaging equipment segment is expected to showcase lucrative growth and is anticipated to hold a market share of 28.7%. Sales in this segment are slated to increase at a 7.1% CAGR over the assessment period.
The factors attributed to boost the segmental growth include continually growing pharmaceutical industry, as well as advancements in packaging technology.
Increasing Sales of Pharma Packaging Machines in the USA Will Fuel Growth
As per the report, the United States is expected to account for 1/4th of the total market share over the forecast period. Rising per capita spending and investment in pharmaceutical products, as well as the existence of large pharmaceutical companies are driving sales in the market. The country is expected to hold a CAGR of 7.6% during the forecast period.
Rising Demand for Cartoning Machines in the Pharmaceutical Sector in India will Boost Sales
India's Pharmaceutical Packaging Equipment market is projected to grow at a CAGR of 7.2% during the forecast period. Sales in the Indian pharmaceutical packaging equipment market are slated to grow by 2.5x over the assessment period. Pharmaceutical companies in India are increasing their manufacturing facilities due to the low cost of production and packaging.
Growing private and public sector investment in pharmaceutical research and development in India has boosted medication output significantly. The factors are expected to augment the growth in the Indian market over the forecast period.
Pharmaceutical packaging equipment market startup players are adopting various marketing strategies such as new product launches, geographical expansion, merger and acquisitions, partnerships and collaboration to create a larger customer base. For instance,
Key players in the pharmaceutical packaging equipment market are strongly focusing on profit generation from their existing product portfolios along while exploring potential new applications. The players are emphasizing on increasing their pharmaceutical packaging equipment production capacities, to cater to the demand from numerous end use industries. Prominent players are also pushing for geographical expansion to decrease the dependency on imported pharmaceutical packaging equipment.
Recent Developments
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD Billion for value and units for Volume |
| Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; East Asia & Pacific; South Asia and Middle East & Africa |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, Poland, Russia, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC Countries, South Africa, Israel. |
| Key Segments Covered | Automation, Machine Type, Application, and Region |
| Key Companies Profiled | Gerresheimer; Robert Bosch GmbH; I.M.A. Industria Macchine Automatiche ;SpA; Marchesini Group S.p.A; Bausch+Ströbel Maschinefabrik Ilshofen ; GmbH+Co. KG; Romaco Group; Dara Pharmaceutical Equipment; MULTIVAC Group; Accutek Pharmaceutical Equipment ; Companies, Inc.; OPTIMA Packaging Group; Trustar Pharma Pack Equipment, Co. Ltd.; MG2 s.r.l.; Inline Filling Systems; Venia LLC; ACIC Pharmaceuticals Inc.; Harro Höfliger; NJM Packaging; CKD Corporation; Herma GmbH; ProMach, Inc. |
| Report Coverage | Market Forecast, brand share analysis, competition intelligence, DROT analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The pharmaceutical packaging equipment market CAGR 2033 is 4.1%.
The market is estimated to secure a valuation of USD 5.6 billion in 2023.
The projected market value of the market for 2033 is USD 8.4 billion.
Key players are developing the market by introducing automated packaging solutions.
Robert Bosch GmbH, Romaco Group, and Marchesini Group are the key companies in this market.
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