LONDON--(BUSINESS WIRE)--The global pharmaceutical tablet packaging equipment market is expected to grow at a CAGR of almost 9% during the forecast period, according to Technavio’s latest market research.
In this market research report, Technavio covers the market outlook and growth prospects of the global pharmaceutical tablet packaging equipment market for 2017-2021. The market is further segmented by equipment type that includes blister packaging equipment, strip packaging equipment, and aluminum foil packaging equipment.
Technavio’s research analysts segment the global pharmaceutical tablet packaging equipment market into the following regions:
- Americas
- EMEA
- APAC
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Americas: largest pharmaceutical tablet packaging equipment market
The Americas projected the highest share in the global spending on medicines. This factor has contributed positively towards the pharmaceutical tablet packaging equipment market in the Americas. There is a strong presence of the pharmaceutical industry in this region. Thus, there is a high consumption of medicines, tablets, and capsules. This contributes to the growth of the global pharmaceutical tablet packaging equipment market. The pharmaceutical industry in the US accounted for more than 40% of market share in the global pharmaceutical industry in 2016.
“In 2016, Johnson & Johnson and Novartis were the top players in the pharmaceutical industry in Canada and generated the highest sales in the region. In Brazil, the pharmaceutical industry is expected to grow at a CAGR of nearly 7% during the forecast period. These instances showcase the growth of the pharmaceutical tablet packaging equipment market in the Americas,” says Shakti Jakhar, a lead packaging research expert from Technavio.
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Pharmaceutical tablet packaging equipment market in EMEA
Vendors in EMEA are incessantly focusing on latest technologies and R&D investments that is promoting the growth of the global pharmaceutical tablet packaging equipment market. For instance, in June 2017, Bosch launched the ALF 5000 filling and closing machine to enhance its production line in the UK. Moreover, increasing focus on the R&D investment in the pharmaceutical industry in Europe contributes to the growth of drug developments. This has led to a rising need for equipment.
“In Germany, growing expenditure in healthcare is generating the demand for the packaging and equipment. The overall CAGR of pharmaceutical production in EMEA is expected to be close to 4% during the forecast period. These factors are positively impacting the growth of the pharmaceutical tablet packaging equipment market in EMEA,” says Shakti.
Pharmaceutical tablet packaging equipment market in APAC
Many aspects are contributing to the growth of the pharmaceutical tablet packaging equipment market in APAC. With increasing sales in the pharmaceutical industry in China, the demand for safe and convenient packaging solutions and associated equipment is on the rise.
Furthermore, in India, the cost of manufacturing is nearly 29% lower than that in countries such as the US and Germany, thereby making India an attractive zone for pharmaceutical companies. This has subsequently generated demand for pharmaceutical packaging equipment in this region. These factors are positively contributing to the growth of the pharmaceutical tablet packaging equipment market in APAC.
The top vendors in the global pharmaceutical tablet packaging equipment market as highlighted in this market research analysis are:
- GEA Group
- Industria Macchine Automatiche (IMA)
- LMT Group
- Bosch
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