DUBLIN--(BUSINESS WIRE)--The "Pharmaceutical Packaging Equipment Market by Product, Type - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The pharmaceutical packaging equipment market is expected to reach USD 8.9 billion by 2023 from an estimated USD 6.2 billion in 2018, at a CAGR of 7.4%.
Growth in the generic and biopharmaceutical markets, the growing need for flexible and integrated packaging equipment, the increase in offshore pharmaceutical manufacturing, growing contract manufacturing of pharmaceutical products, the pharmaceutical industry is witnessing a shift toward the use of biopharmaceuticals and biological drugs which led to an increased demand for innovative packages are expected to drive the growth of the global pharmaceutical packaging equipment market.
However, the factors such as the adoption of refurbished packaging equipment and the high cost of packaging equipment are expected to restrain market growth to a certain extent during the forecast period.
Market Dynamics
Drivers
- High Growth in the Generic and Biopharmaceutical Markets
- Growing Need for Flexible and Integrated Packaging Equipment
- Increase in Offshore Pharmaceutical Manufacturing
- Growing Contract Manufacturing of Pharmaceutical Products
- Introduction of Regulatory Standards on Packaging & Stringent Norms Against Counterfeit Products
- Growth in OTC Drug Sales
Restraints
- Growing Preference for Refurbished Equipment
Opportunities
- Growth of Pharmaceutical Manufacturing in Emerging Economies
- Rising Demand for Automated Packaging
- Increasing Pharma R&D Investment
Challenges
- Uncertainties in Regulations & Standards
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Insights
7 Pharmaceutical Packaging Equipment Market, By Product
8 Pharmaceutical Packaging Equipment Market, By Type
9 Pharmaceutical Packaging Equipment Market, By Region
10 Competitive Landscape
11 Company Profiles
- Accutek Packaging Equipment Companies, Inc
- ACG Worldwide
- Bausch+Strbel Maschinenfabrik Ilshofen GmbH + Co Kg
- Coesia SPA
- IMA SPA
- Krber AG
- Marchesini Group SPA
- MG SRL
- Mutivac Group
- Optima Packaging Group GmbH
- Robert Bosch GmbH
- Romaco Holding GmbH
- Uhlmann Group
- Vanguard Pharmaceuticals Machinery, Inc
For more information about this report visit https://www.researchandmarkets.com/research/qlh8kp/pharmaceutical?w=4
