October 11, 2022 09:15 ET | Source: Verified Market Research Verified Market Research
Boonton, New Jersey, UNITED STATES
Jersey City, New Jersey, Oct. 11, 2022 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, “Pharmaceutical Packaging Equipment Market” By Product (Liquids Packaging Equipment, Solids Packaging Equipment), By Package (Primary Packaging Equipment, Secondary Packaging), and By Geography.
As per the deep research carried out by Verified Market Research, the global Pharmaceutical Packaging Equipment Market was valued at USD 7.24 Billion in 2022 and is projected to reach USD 13.75 Billion by 2030, growing at a CAGR of 7% from 2023 to 2030.
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Browse in-depth TOC on “Pharmaceutical Packaging Equipment Market”
Global Pharmaceutical Packaging Equipment Market Overview
Pharmacological packaging, often known as drug packaging, refers to the packages and techniques used to package pharmaceutical formulations. Packaging machinery is used in all packaging activities, from core packages through distribution packs. Multiple packaging procedures are involved, including fabrication, cleaning, filling, sealing, combining, labeling, overwrapping, and palletizing. Pharmaceutical packing machinery provides effective solutions for distributing pharmaceutical and nutraceutical commodities. Sealers, label applicators, case packers, hand packing stations, and hard glaze-over wraps are some of the most contemporary pharmaceutical packaging equipment.
The introduction of biological APIs has boosted demand for API packaging and a spike in interest in condensed novel medicinal uses, both of which have boosted interest in pharmaceutical packaging machinery (ANDA). As a result, there is an increase in demand for formulated medications to be delivered in cost-effective and efficient packaging, according to the pharmaceutical industry. The market for pharmaceutical packaging equipment is being driven by the release of new medications as well as the rising incidence of chronic illnesses.
Growth in production volume is likely to fuel the pharmaceutical packaging equipment market for generic medication manufacturing in some countries with low-cost manufacturing facilities. Liquid packaging equipment is driving the growth of the pharmaceutical packaging equipment market. This was attributed to the wide range of applications for liquid pharmaceutical dosages, which can be administered by parenteral or oral methods, as well as their palatability, which makes them an excellent product for pediatric and geriatric patients.
The major players in the market are Romaco Pharmatechnik GmbH, MULTIVAC, Marchesini Group S.p.A., Korber Ag, Robert Bosch Gmbh, MG2 s.r.l., Uhlmann-Group, OPTIMA packaging group GmbH, I.M.A. Industria Macchine Automatiche S.p.A. and Bausch & Strobel Maschinenfabrik llshofen Gmbh Co. Kg.
Verified Market Research has segmented the Global Pharmaceutical Packaging Equipment Market On the basis of Product, Package, and Geography.
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