According to Meticulous Research® the global pharmaceutical processing and packaging equipment market is expected to reach USD 25.2 billion by 2028, at a CAGR of 4.5% during 2022-2028. The growth of the PPPE market is mainly driven by the growing pharmaceuticals market, the rising demand for flexible manufacturing, the growing trend of contract manufacturing in the pharmaceutical sector, and the increasing need to comply with various regulations.
Recent pharmaceutical trends support the development of specialized products for small groups of patients. Regulatory agencies support this trend by expediting drug approvals. Further, the increasing focus of pharmaceutical companies on cost control coupled with unpredictable demand for pharmaceuticals has created a need for more agile and flexible pharmaceutical manufacturing facilities. The emergence of continuous manufacturing and single-use technologies has supported the development of flexible manufacturing facilities, allowing for innovation in pharmaceutical processing and packaging.
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In conventional manufacturing, different types of equipment perform different functions for different processes, which can no longer suffice the production requirements of today’s changing pharmaceutical landscape. Further, conventional processes may also require more physical and financial resources, making them cost-intensive. Thus, the overall pressure on pharmaceutical companies due to the high prices and limited functionality of pharmaceutical manufacturing equipment can positively impact the demand for pharmaceutical packaging and processing equipment used in flexible manufacturing.
Fast-track drug approval programs and the need for operational flexibility among pharmaceutical companies and CMOs further supports the adoption of flexible manufacturing processes. Orphan drug development is currently gaining traction due to its incentivization by regulatory authorities, accelerated drug approvals, and the exclusivity of the molecules. Orphan drug developers focus on shortening the clinical development phase, wherein processes involving chemistry, manufacturing, controls development, scale-up, validation, tech transfer, and stability testing must be completed rapidly after securing initial regulatory approval. Thus, accelerated orphan drug development programs have increased the demand for flexible manufacturing in the pharmaceutical sector.
Furthermore, many pharmaceutical companies are outsourcing production to contract manufacturing organizations (CMOs). Uncertainties in the demand for pharmaceuticals are affecting both pharmaceutical companies and CMOs. Pharmaceutical companies can either oversupply or undersupply the drugs to the market, whereas CMOs can lose on new opportunities because of high initial investments in manufacturing costly drugs and maintaining expensive inventories. The implementation of flexible manufacturing can provide a balanced approach to both CMOs and pharmaceutical companies.
Thus, the increasing preference for specialized therapies among patients has boosted the adoption of flexible manufacturing practices involving single-use systems, continuous manufacturing systems, and modular facilities.
A similar trend is observed in the implementation of flexible packaging in the pharmaceutical sector. Flexible packaging plays a dynamic role in protecting and increasing the shelf life of pharmaceutical products. Flexible packaging also offers advantages like barrier protection, ease of use, resealability, and printability, increasing the demand for flexible packaging equipment. The growing need to improve the productivity and efficiency of pharmaceutical manufacturing operations is increasing the demand for integrated packaging equipment, thereby supporting the growth of the pharmaceutical packaging equipment market.
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/pharmaceutical-processing-and-packaging-equipment-market-5021
Mr. Khushal Bombe
Meticulous Market Research Inc.
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