Global Pharmaceutical Packaging Equipment market accounted for $5.98 billion in 2017 and is expected to reach $12.25 billion by 2026 growing at a CAGR of 8.3%
Some of the key factors influencing the market growth include increasing demand for flexible and versatile packaging and high growth in generic and biopharmaceuticals. However, challenges in emerging markets, strict environmental & political norms and high packaging cost are some of the factors hampering the market growth.
Packaging provides safety to pharmaceutical products and plays a significant role in preventing contamination and microbial growth throughout the shelf life of the products. Pharmaceutical packaging equipment could be used for packing of solids, semi-solids, liquids and others. It assists in decreasing the time it takes for packaging of pharmaceutical products and thus paves a way for innovations in drug delivery systems.
By package type, blister packaging machinery has a significant market share during the forecast period. It is a type of packaging machinery used for the sealing of a product in a cavity with paper or thermoformed support. These machines are used for the wrapping of solid, semi-solid, powder, and granular products.
By Geography, Asia-Pacific is expected to grow at the highest rate in the forecast period owing to the developing economy of its countries. Presence of vast consumer base, mainly in emerging nations such as China and India, in addition to rising per capita expenditure on healthcare is likely to drive the regional market.
The “Pharmaceutical Packaging Machinery – Global Market Outlook (2017-2026)” report has been added to ResearchAndMarkets.com’s offering.