The Prescription for Success: Technological Advancements Drive Pharmaceutical Processing and Packaging Equipment Market
SkyQuest’s Pharmaceutical Processing and Packaging Equipment market report is excellent information for individuals interested in gaining insight into the valuable data, trends, and opportunities in a rapidly growing industry. Additionally, the report is written clearly and concisely, making it accessible to various audiences, from industry experts to market readers. Finally, one can gain an in-depth understanding of the primary and secondary market drivers, providing them with a comprehensive outlook of the current market situation and future projections.
Westford, USA, April 13, 2023 (GLOBE NEWSWIRE) — The Pharmaceutical Processing and Packaging Equipment Market is projected to achieve USD 27.52 billion in value by 2030, with a compound annual growth rate of 4.5% during the forecast period (2022-2030). The Market’s growth is being fueled by increasing demand for sophisticated pharmaceutical products, technological advancements in equipment, and a growing focus on drug safety and efficacy. SkyQuest forecasts that biologic drugs will account for 27% of global pharmaceutical sales by 2024, up from 19% in 2019.
SkyQuest’s recent global research shows that automation technologies are expected to be adopted at a CAGR of 10.7% in pharmaceutical manufacturing during the forecast period. Additionally, the global pharmaceutical serialization solutions market is predicted to expand at a CAGR of 18.6% from 2020 to 2027, indicating a growing emphasis on drug safety.
Browse in-depth TOC on “Pharmaceutical Processing and Packaging Equipment Market”
- Pages – 211
- Tables – 65
- Figures – 66
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In the pharmaceutical industry, the pharmaceutical processing and packaging equipment market plays a critical role in ensuring drug safety, efficacy, and quality. The market is witnessing an increasing demand for advanced pharmaceutical products, which has led to innovative processing and packaging equipment development. Moreover, the emphasis on patient safety and efficacy has made the use of advanced equipment necessary for pharmaceutical companies. With the need for efficient production processes and drug delivery systems, the market is projected to grow in the coming years.
Prominent Players in Pharmaceutical Processing and Packaging Equipment Market
- Robert Bosch GmbH
- IMA Group
- Marchesini Group S.p.A.
- Uhlmann Group
- Romaco Pharmatechnik GmbH
- MG America, Inc.
- Optima Packaging Group GmbH
- Gebo Cermex
- Multivac Group
- Bausch + Stroebel Machine Company, Inc.
- Schaefer Technologies, Inc.
- Cozzoli Machine Company
- Körber AG
- CVC Technologies, Inc.
- NJM Packaging
- ACG Worldwide
- Harro Höfliger Verpackungsmaschinen GmbH
- Syntegon Technology GmbH
- IWK Verpackungstechnik GmbH
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Solid Dosage Forms Segment to Drive Higher Sales Due to the Increasing Demand For Solid Dosage Forms, Advancements in Technology
A recent analysis has identified the Main Landing Gear segment as a significant contributor to the rapid development of the Pharmaceutical Processing and Packaging Equipment market in 2021, with this trend expected to continue from 2022 to 2030. This growth is being driven by increasing demand for solid dosage forms, technological advancements, and the need for personalized and precision medicine. A survey conducted by the Parenteral Drug Association (PDA) has revealed that tablet production is the most common process performed by pharmaceutical companies, with 92% of respondents citing it as a core activity. This emphasizes the importance of the solid dosage form application segment in the pharmaceutical processing and packaging equipment market.
Research analysis indicates that North America is set to become a dominant player in the Pharmaceutical Processing and Packaging Equipment market from 2022 to 2030. SkyQuest has projected that the region will grow at a CAGR of 7.82% during the forecast period, driven by the presence of major manufacturers and increasing research and development activities. Recently, the Canadian government has invested in initiatives to support the growth of the pharmaceutical industry, such as the Strategic Innovation Fund and the Life Sciences Economic Strategy Table.
Primary Packaging Type Segment to Exhibit Strong Growth Due to Increasing Need for Patient Convenience and Safety
The Pharmaceutical Processing and Packaging Equipment market was dominated by the Primary Packaging Type segment in 2021, and this trend is expected to continue from 2022 to 2030. The need for patient convenience and safety, along with the growing demand for self-administered drug delivery systems, is driving this growth.
The Asia Pacific region has also emerged as a significant force in the Pharmaceutical Processing and Packaging Equipment market and is poised to retain its leading position by 2030. SkyQuest has projected a significant growth rate of 9.97% in the region during the forecast period, driven by the presence of numerous pharmaceutical manufacturing companies, the growing demand for generic drugs, and favorable government initiatives. Recent developments in the region include the acquisition of a majority stake in India’s Syngene International by the Asia-focused private equity firm, Baring Private Equity Asia, and the expansion of Japanese pharmaceutical company Takeda Pharmaceutical’s manufacturing facility in Singapore.
A comprehensive analysis of the major players in the Pharmaceutical Processing and Packaging Equipment market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
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Key Developments in Pharmaceutical Processing and Packaging Equipment Market
- CVC Technologies’ long-term business strategies and direction align with the acquisition of Changsung Softgel System. The combined technologies, drives, and resources will generate the needed synergy for success. This acquisition further establishes CVC Technologies’ position as a leading global provider of packaging machinery, with a specific focus on being a top-quality soft gel encapsulation process equipment supplier. The soft gel advancements developed by Changsung Softgel System align with the pharmaceutical and nutraceutical industries’ requirements for an improved active ingredient delivery system, enhancing medication and supplement delivery to physiological targets while improving operational efficiency during the manufacturing process.
- Syntegon is showcasing new solutions for producing solid pharmaceutical dosage forms at Achema in Frankfurt. The company will display upgraded versions of the Solidlab 2 Plus and TPR 200 Plus at booth C71 in hall 3.1. These systems facilitate time-saving product transfers from laboratory to production scale, support continuous manufacturing processes, and provide easy cleanability and optimal operator protection through containment features.
Key Questions Answered in Pharmaceutical Processing and Packaging Equipment Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market’s future growth?
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