Report

The global pharmaceutical packaging equipment market is projected to witness a CAGR of 6% during the forecast period 2024-2031, growing from USD 7.14 billion in 2023 to USD 11.38 billion in 2031. Various factors shape the global pharmaceutical packaging equipment market. These include technological advancements, initiatives taken by the government, increasing demand for tertiary packaging, growing use of automated equipment, and the rise of robotic packaging equipment.
Technical advancements play a critical role in the expansion of the global pharmaceutical packaging equipment market. Advanced technologies like automation, machine learning, and artificial intelligence are being used in packaging operations to increase productivity, accuracy, and safety. Pharmaceutical packaging is now more efficient, and precise, and adheres to higher safety regulations due to these improvements. Government policies and laws also have a significant impact on the global pharmaceutical packaging equipment market. Pharmaceutical businesses are compelled to upgrade their equipment to comply with new rules, which encourages the industry's adoption of cutting-edge technologies. In addition to ensuring conformity to changing rules, this push for compliance promotes the use of cutting-edge technology to enhance packaging procedures.
The global pharmaceutical packaging equipment market's environment is shaped by the growing need for tertiary packaging, which is driven by trends like personalized medicine and eco-friendly packaging. This need emphasizes how crucial it is to provide efficient and environmentally friendly packaging solutions that meet changing consumer and business needs. The global pharmaceutical packaging equipment market is being impacted by a notable trend, which is the growing utilization of automated machinery. Automation increases productivity, accuracy, and efficiency in packing processes, which is in line with the industry's requirement for cutting-edge, effective solutions to successfully fulfill market needs.
The landscape of the global pharmaceutical packaging equipment market is being revolutionized by the introduction of robotic packaging technology. Robots provide the industry's need for complex and efficient packaging solutions that can match the sector's changing expectations by bringing accuracy, speed, and reliability to packaging jobs.
For example, in May 2023, Apex Motion Control, a manufacturer of intelligent robotic and automation devices, unveiled the Flexi-Bot and Flexi-Bot MAX, their newest product line. With the pharmaceutical industry in mind, these new collaborative robots, or cobots, provide an easy-to-use answer to persistent labor shortages as well as the tedious, hazardous, and repetitive activities associated with industrial manufacturing.
Government Initiatives
Governments everywhere are stepping up to quicken the pace of expansion for the global pharmaceutical packaging equipment market. These programs seek to improve the competitiveness and performance of the industry by fostering growth and innovation. Governments encourage expenditures in research and development, push the adoption of advanced equipment, and drive technological breakthroughs in pharmaceutical packaging through strategic interventions and assistance. These initiatives support market growth and guarantee that the pharmaceutical industry can effectively address changing consumer needs, preserving a stable and thriving business environment.
For example, the Indian Drug Manufacturers' Association (IDMA) held its flagship event, Pharma Live Expo & Summit, at the Bombay Exhibition Centre, Nesco Mumbai, on January 17-19, 2024. Numerous manufacturers of packaging equipment for pharmaceutical manufacturing took part in the event and displayed their goods.
Technological Advancements
Technological developments play a major role in propelling the expansion of the global pharmaceutical packaging equipment market in the ever-changing pharmaceutical packaging landscape. Packaging equipment with innovative technology drives market evolution as the pharmaceutical industry grows. These developments guarantee product safety, improve operational effectiveness and comply with changing regulatory requirements. Businesses that adopt cutting-edge technologies not only enhance their operations but also meet the increasing need for dependable and sophisticated packaging solutions. This mutually beneficial relationship between market expansion and technology highlights the industry's dedication to quality and innovation.
For example, in August 2023, at PACK EXPO Las Vegas, VOLPAK, a Coesia company that specializes in designing and manufacturing flexible packaging machines, unveiled a new pouch machine for the pharmaceutical industry that focused on sustainability and automation, the two main tenets of the GREENMATION corporate strategy. Hapa's most recent Web 4.0 5D inline digital printing technology is included in the machine.
Increasing Demand for Tertiary Packaging
The demand for tertiary packaging solutions is increasing in the global pharmaceutical packaging equipment market. The pharmaceutical industry's requirement to move goods in large quantities securely and effectively is the source of this expanding need. Tertiary packaging becomes more crucial as the industry expands to ensure the reliable and safe transportation of pharmaceutical products. Technological developments in packaging are the driving force behind this trend since they meet the industry's changing needs for increased efficiency and regulatory compliance. The dedication of the global pharmaceutical packaging equipment market to satisfy the pharmaceutical industry's growing demand for robust and dependable packaging solutions is demonstrated by the emphasis on tertiary packaging.
For example, in November 2023, Eliter Packaging Machinery introduced Gran Sonata, an end-load, sanitary stainless-steel carton machine that uses servo technology to improve flexibility and dependability for medium-size case packing and large-size cartons. The machine is open-profile and aims to assist businesses in optimizing their packaging procedures.
The Growing Use of Automated Equipment
The requirement for adaptable packaging solutions and the growth of offshore pharmaceutical manufacturing are some of the drivers propelling the remarkable growth trajectory of the global pharmaceutical packaging equipment market. The industry's dedication to innovation and meeting changing requirements in pharmaceutical packaging is reflected in this rise, which denotes a shift towards more sophisticated and effective packaging techniques. By automating jobs that would normally need human labor, automated technology improves efficiency and speeds up production. Higher output levels are the outcome of this quicker pace, which boosts productivity and guarantees that businesses can successfully satisfy the needs of the global pharmaceutical packaging equipment market.
For example, on March 1, 2024, Capsa Healthcare, a global provider of healthcare workflow solutions, revealed a new system that automates patients' drug packaging. The automated packaging method, called NexPak, increases patient drug administration's accuracy and efficiency while streamlining operations for pharmacies.
North America is Dominating the Market
North America leads the world in pharmaceutical packaging equipment, with a significant market share and presence. This dominance stems from advancements in technology, a booming pharmaceutical sector, and a dedication to innovation. The area is a major player in the industry because of its commitment to quality, efficacy, and regulatory compliance. The presence of well-known businesses like Accutek Pharmaceutical Equipment Companies, Inc. and Maquinaria Industries Dara, SL in North America propels the sector forward and satisfies the growing demand for innovative and reliable packaging solutions.
In November 2023, for example, MG America and Romaco North America formed a strategic alliance to cross-promote and sell compatible industrial machines in North America. By combining their machinery products, the two pharmaceutical industry equipment businesses provide their respective clientele with a wider range of tried-and-true solutions and improved equipment maintenance choices.
Future Market Scenario (2024 - 2031F)
� Increasing demand for generic and over-the-counter drugs will drive the growth of the global pharmaceutical packaging equipment market in the future.
� Growing demand for sustainable packaging materials will drive the need for innovation in pharmaceutical packaging equipment, leading to expansion in the global pharmaceutical packaging equipment market.
� The global pharmaceutical packaging equipment market will be driven by the increased need for specialized packaging equipment, as contract manufacturing in the pharmaceutical industry continues to grow.
� The rising demand for refurbished equipment and the high cost of packing machinery will be an obstacle to the growth of the global pharmaceutical packaging equipment market.
Key Players Landscape and Outlook
Leading firms in the global pharmaceutical packaging equipment market are deliberately making acquisitions to expand their global presence. Through acquisitions, these companies combine their knowledge, assets, and perspectives to expand their clientele and improve their line of products. By using this strategic approach, businesses can expand into new areas, foster innovation, and improve their position as industry leaders. Businesses can take advantage of synergies through acquisitions, which stimulate growth and enable them to successfully respond to the shifting demands of the global pharmaceutical packaging equipment market.
For example, in January 2023, the privately held Chicago, Illinois-based Ultra Packaging Inc. was acquired by Massman Companies, a global leader in packaging machines. For the pharmaceutical business, Ultra Packaging, Inc. (UPI) is a top designer of sturdy automated carton machines, both horizontal and vertical. These are continuous-motion, high-speed devices that can be configured in a variety of ways, from manual to fully robotic loading.