Pharmaceutical Packaging Equipment Market Size, Share | Future,Trends Estimate 2025
Featuring a consolidated vendor landscape, a handful of top players in the global market for pharmaceutical packaging equipment collectively held 55% of the overall market in 2016, says Transparency Market Research (TMR) in a new report. Key companies to name in the global pharmaceutical packaging equipment market are Robert Bosch GmbH, Körber AG, Uhlmann pac-Systeme GmbH & Co. and KG, IMA S.P.A, and Marchesini Group S.p.A.
Huge investments in latest technology to develop efficient equipment is a key focus of large companies in this market. Product innovation is also what players in this market especially new market participants are engaged in to establish a foothold. Introduction of novel technologies is likely to create a deluge of opportunities for vendors in the pharmaceutical packaging equipment market in the upcoming years.
As per the TMR report, the pharmaceutical packaging equipment market is likely to clock a CAGR of 6.7% over the forecast period between 2017 and 2025, for the market to be worth US$10.69 bn by 2025-end. The market was pegged at US$5.97 bn in 2016. By product type, the segment of liquid packaging equipment held the leading share in 2016 and is likely to remain lucrative due to increasing use of liquid dosages. This results in high demand for liquid filling equipment with accuracy and high-precision. By packaging type, primary packaging leads the market and is predicted to continue to lead through 2025. The growth of primary packaging segment is mainly because of high demand for unit dosage forms. Geographically, North America held the leading 31.8% of the market in 2016; the region is expected to continue to remain at the fore through 2025.