Impact Analysis of Covid-19
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The Global Pharmaceutical Packaging Equipment Market, by Product (Primary Packaging Equipment, Secondary Packaging Equipment, and Labeling and Serialization Equipment), By Type (Liquids Packaging Equipment, Solid Packaging Equipment, Semi-Solid Packaging Equipment, and Other Products Packaging Equipment), by End User (Pharmaceutical Manufacturing, Contract Packaging, Retail Pharmacy, Institutional Pharmacy, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), was valued US$ 7.3 Billion in 2018 and is projected to exhibit a CAGR of 8.2% during the forecast period (2018 – 2026) as highlighted in a new report published by Coherent Market Insights.
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Pharmaceutical packaging ensures that the products are free from physical, chemical, and microbiological damage. Also, through this packaging, players in the market can present ads and useful details to consumers. Pharmaceutical packaging is very sensitive towards outdoor elements such as light and moisture.
For instance, in May 2018, Italy-based IMA Group companies- IMA Life and IMA Active, which are companies engaged in design and manufacturing of automatic machines for the processing and packaging of pharmaceuticals, cosmetics, food, tea and coffee, introduced new sales team in India that focuses on sales and services of solid dose, aseptic processing, filling technology, and freeze-drying solutions. When the equipment was launched, the company dedicated its special focus on marketing of Quantum, which is a new non-invasive technique that can perform quantitative real-time process measurements that was applied to freeze drying and to continuous freeze drying process.
Browse 26 Market Data Tables and 31 Figures spread through 188 Pages and in-depth TOC on “Pharmaceutical Packaging Equipment Market, by Product (Primary Packaging Equipment, Secondary Packaging Equipment, and Labeling and Serialization Equipment), By Type (Liquids Packaging Equipment, Solid Packaging Equipment, Semi-Solid Packaging Equipment, and Other Products Packaging Equipment), By End User (Pharmaceutical Manufacturing, Contract Packaging, Retail Pharmacy, Institutional Pharmacy, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Global Forecast to 2026”
To know the latest trends and insights related to the pharmaceutical packaging equipment market Press Release, click the link below: https://bit.ly/2Rs21Gc
Moreover, key players in the market are focused on launching innovative equipment that can offer improved accessibility and speed in pharmaceutical packaging processes. For instance, in December 2018, JVM, a subsidiary of Hanmi Pharmaceutical, introduced NS20, a pharmaceutical packaging machine, which can prevent packaging errors of pharmaceuticals while speeding up the automatic dispensing procedure and can save wrapping paper. NS20 is based on ACRS- III technology and it can automatically recognize the position of a canister containing a drug. When a wrong medication is detected during the preparation, the platform automatically stops packaging. The NS20 model is suitable for large pharmacies and hospital pharmacies, and comes with the latest automatic sensor and communication technology ACRS-III and ATDPS, a conventional automatic medicine classification and packaging system.
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Key Takeaways of the Pharmaceutical Packaging Equipment Market:
- The global pharmaceutical packaging equipment market is expected to witness a CAGR of 8.2% during the forecast period (2018 – 2026). This is attributed to rising need for flexible and integrated packaging equipment.
- Among product, the primary packaging equipment segment held largest market share in 2017, as these primary pharmaceutical packaging equipment can be handled easily, development of novel forms of drug delivery and biopharmaceuticals, and the rising norms of quality criteria. Furthermore, primary packaging performs the central function to protect and preserve products from damage, external hindrance or contamination, spoilage, and chemical imbalances. It also helps to store products for long durations and keeps the product completely sealed from the surroundings.
- Among type, liquids packaging equipment segment held largest market share in 2017. In pharmaceutical packaging, reagents and kits are integral and inevitable. The demand for reagents and kits is high due to rising adoption of these in diagnosis and treatment regime of infectious diseases such as HIV diagnostic assay, tuberculosis infection, and Zika virus infection among others. Moreover, high demand for complex formulations, rising incidence of eye disorders, and development of novel drug delivery systems are expected to fuel the segment growth.
- Among end user, pharmaceutical manufacturing segment accounted for largest market share in 2017 and is expected to retain its dominance throughout the forecast period. This is attributed to the presence of in-house packaging facilities in the manufacturing locations of industry participants. There is high demand for packaging equipment in pharmaceutical manufacturing, as there is high end-use consumption of packaged products.
- Key players operating in the global pharmaceutical packaging equipment market include Robert Bosch GmbH, Industria Macchine Automatiche S.p.A., Marchesini Group S.p.A., Korber AG, MG2 s.r.l., Accutek Packaging Equipment Companies, Inc., Vanguard Pharmaceuticals Machinery, Inc., Romaco Pharmatechnik GmbH, Bausch + Ströbel Maschinenfabrik Ilshofen GmbH+Co. KG, and OPTIMA Packaging Group GmbH
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