The pharmaceutical manufacturing equipment market is on a trajectory of substantial growth, with an estimated value of USD 14.5 billion in 2023, projected to soar to USD 19.7 billion by 2028, marking a notable CAGR of 6.3% during the forecast period.
Several key factors are propelling this growth globally, including the burgeoning demand for generics, the imperative shift towards flexible manufacturing practices, the burgeoning potential of pharmaceutical manufacturing infrastructure worldwide, and the increasing implementation of government schemes and regulatory frameworks aimed at quality assurance.
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Packaging machines emerged as the frontrunners in the pharmaceutical manufacturing equipment market in 2022, playing a pivotal role in safeguarding final products from contamination, damage, and degradation while meeting stringent regulatory specifications for labeling, dosage, and storage. With an aging population, increased healthcare investments, and a rise in chronic diseases worldwide, the demand for diverse and innovative drugs is escalating, driving the adoption of advanced pharmaceutical packaging machines.
The liquid end-product type segment is poised to dominate the market during the forecast period. Liquid dosage forms offer enhanced swallowability, making them more suitable for patients with swallowing difficulties. They also enable precise dosing, critical for drugs with narrow therapeutic ranges, and provide greater formulation flexibility for drugs insoluble or unstable in solid forms, thus driving their demand.
Asia Pacific emerged as the leader in the pharmaceutical manufacturing equipment market in 2022, fueled by its status as one of the fastest-growing pharmaceutical markets globally. With low labor and manufacturing costs, countries like India and China have attracted significant foreign investments, fostering robust pharmaceutical manufacturing infrastructure. Moreover, governments in the region are rolling out initiatives to boost local manufacturing capacity, expand generic drug production, and enhance quality assurance standards to meet global benchmarks.
Key Market Players:
Leading players in the pharmaceutical manufacturing equipment sector, including GEA Group Aktiengesellschaft, I.M.A. INDUSTRIA MACCHINE AUTOMATICHE S.P. A, Syntegon Technology GmbH, ACG, and Thermo Fisher Scientific Inc., have employed a mix of organic and inorganic growth strategies such as product launches, acquisitions, and partnerships to fortify their market position. Their contributions continue to shape the landscape of pharmaceutical manufacturing equipment, driving innovation and market expansion.
