Meticulous Research®, a globally renowned market research firm, has released a comprehensive report titled "Pharmaceutical Processing and Packaging Equipment Market by Mode of Delivery (Oral, Parenteral, Topical), Secondary Packaging (Cartoning, Labelling, Serialization) and End-of-Line Packaging (Palletizing, Case Packaging) - Global Forecasts to 2028". This meticulously crafted report delves deep into the dynamics of the pharmaceutical processing and packaging equipment industry, offering valuable insights and forecasts.
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Market Projection
The report forecasts a remarkable growth trajectory for the global pharmaceutical processing and packaging equipment market, with an expected value of $25.2 billion by 2028. This represents a robust Compound Annual Growth Rate (CAGR) of 4.5% from its valuation of $18.5 billion in 2021.
Driving Forces
Several factors are identified as catalysts propelling this growth. These include the dynamic expansion of the pharmaceutical landscape, a notable shift in demand towards generic drugs, an upsurge in the need for flexible manufacturing solutions, governmental initiatives in emerging economies aimed at bolstering local pharmaceutical production, and an increasing trend towards contract manufacturing arrangements.
Insights into Market Dynamics
The report provides a comprehensive analysis of the pharmaceutical processing and packaging equipment market, spanning historical data from 2019 and 2020, estimated current data for 2021, and forecasts extending to 2028. It meticulously dissects various segments including Processing and Primary Packaging Market based on Formulations (Oral, Parenteral, Topical, and Other Formulations), Secondary Packaging (Cartoning Equipment, Carton Labeling & Serialization Equipment, Wrapping Equipment, and Other Equipment), End-of-Line (Case Packaging, Palletizing & Depalletizing Equipment, and Other Equipment), and Geography.
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Segment Analysis
In 2021, the cartoning equipment segment is anticipated to dominate the secondary packaging equipment market, driven by regulatory endorsements favoring carton packaging, the ease of medication handling in cartons, and their cost-effectiveness.
Similarly, within the end-of-line packaging equipment market, the case packaging segment is expected to hold the largest share in 2021. This is primarily attributed to the rising incidence of counterfeit medicines and the increasing volume of pharmaceutical imports and exports.
Geographical Overview
Regionally, North America is poised to command the largest share of the global pharmaceutical processing and packaging equipment market in 2021, closely trailed by Europe and Asia-Pacific. The growth in North America is driven by its robust pharmaceutical industry, escalating investments in research and development, and the shifting landscape towards generic drugs amidst rising healthcare costs. However, the Asia-Pacific region is forecasted to witness the highest CAGR during the forecast period.
Key Players
A plethora of esteemed players operate within the global pharmaceutical processing and packaging equipment market, including ACIC Pharmaceuticals Inc. (Canada), Bausch+Ströbel (Germany), IDEX Corporation (U.S.), JEKSON VISION (India), and Kevin Process Technologies Pvt. Ltd. (India), among others.
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Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
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