The growth of the global pharmaceutical packaging equipment market is driven by the rapidly growing generic & biopharmaceutical markets, growth in OTC drug sales, rising need for flexible and integrated packaging equipment, increased offshore manufacturing in the pharmaceuticals market, the introduction of regulatory standards on the packaging, and stringent norms against counterfeiting. However, factors such as the adoption of refurbished packaging equipment and the high cost of packaging equipment are expected to restrain market growth to a certain extent during the forecast period.

The global pharmaceutical packaging equipment market is projected to reach USD 11.9 Billion by 2027 from USD 8.4 Billion in 2022, at a CAGR of 7.2% from 2022 to 2027.

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KEY MARKET DYNAMICS
1 DRIVERS
1 High growth in generics & biopharmaceuticals markets
2 Growing need for flexible and integrated packaging equipment
3 Increase in offshore pharmaceutical manufacturing
4 Growing contract manufacturing of pharmaceutical products
5 Introduction of regulatory standards on packaging and stringent norms against counterfeit products
2 RESTRAINTS
1 Growing preference for refurbished equipment
3 OPPORTUNITIES
1 Growth of pharmaceutical manufacturing in emerging economies
2 Rising demand for automated packaging
3 Change in medication systems to self-medication and self-care
4 Increasing pharmaceutical R&D investments
4 CHALLENGES
1 Growth in personalized and precision medicine supply chain
2 Uncertainties in regulations and standards of pharmaceutical packaging process

Market Segmentation: -

The primary packaging equipment segment accounted for the largest share of the global market in 2021. The main function of primary packaging is to restrict climatic, chemical, or biological hazards that cause deterioration.

Based on type, the market is segmented into liquid, solid, semi-solid, and other packaging equipment. In 2021, the liquid packaging equipment segment accounted for the largest share of the pharmaceutical packaging equipment market.

Regional Analysis:
Europe is the largest regional market for pharmaceutical packaging equipment with a share in 2021. Growth in the European market is majorly driven by the high pharm aceutical production, increasing demand for flexible packaging equipment by major pharmaceutical manufacturers, and the rising focus on product diversification by companies, which is driving the demand for innovative packaging equipment. Regulatory changes are also compelling pharmaceutical manufacturers to replace their older equipment with new equipment to adhere to the changing standards.

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Recent Developments
• Bemis Company, Inc., a global leader in flexible and rigid plastic packaging, has acquired Tekni-Plex’s Pharma Packaging Solutions business from Tekni-Plex, Inc. This acquisition gives Bemis a broader portfolio of solutions to serve the pharmaceutical and healthcare markets, including a wide range of specialized packaging components, services and solutions.
• Amcor, a global leader in flexible and rigid plastic packaging, has acquired West Pharmaceutical Services, Inc. This acquisition will expand Amcor’s portfolio to include a wide range of specialized packaging components, services and solutions for the pharmaceutical and healthcare markets.
• Schott AG, a leading manufacturer of specialty glass and pharmaceutical packaging, has acquired Gerresheimer AG, a leading manufacturer of plastic pharmaceutical packaging solutions. The acquisition will enable Schott to gain a larger foothold in the global pharmaceutical packaging market.

Top Key Players: -
Prominent players in the pharmaceutical packaging equipment market include Robert Bosch GmbH (Syntegon Technology GmbH) (Germany), IMA S.p.A. (Italy), Körber AG (Germany), Coesia S.p.A (Italy), Marchesini Group S.p.A (Italy), Bausch+Ströbel Maschinefabrik Ilshofen GmbH+Co. KG (Germany), Romaco Group (Germany), Uhlmann Group (Germany), Maquinaria Industries Dara, SL (US) and MULTIVAC Group (Germany).