Hyderabad, India -- (SBWire) -- 01/26/2018 --The report "Pharmaceutical Packaging Equipment Market By Package (Primary Packaging Equipment, Secondary Packaging Equipment, Labelling And Serialization Equipment), By Product (Liquid Packaging Equipment, Solid Packaging Equipment And Semi-solid Packaging Equipment) And By Region - Global Industry Analysis, Size, Share, Growth, Trends, And Forecasts (2016–2021)" forecasts to 2021. The pharmaceutical packaging industry is estimated at a market value of 5.53 Billion in 2016 and is expected to reach 7.65 Billion by 2021 at a CAGR of 6.7%.
The key driving factors of this market include factors such as increased demand for effective packaging of medicines, increasing number of patients, and sudden growth of the pharmaceutical Industry. High price and strict environmental laws are some of the prime hindering factors.
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By Product, liquid packaging equipment segment accounted for the largest share of the market in 2016.
On the basis of product, the market is segmented into Liquid packaging equipment, solid packaging equipment and semi-solid packaging equipment. The liquid packaging segmented accounted for the major market share in this segment.
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By Package type, the market can be segmented into Primary packaging equipment, secondary packaging equipment, and labelling and serialization equipment. By process, the sequencing segment accounted for the largest share of the market in 2016
North America dominated the market in 2016
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By geography, the market can be further divided into North America, Latin America, Middle East and Africa, Europe, Asia-Pacific. North America accounted for the major share of market in 2016 owing to the technological advancement in pharmaceutical development and increasing accounts of diseases.
The various players in the Pharmaceutical packaging equipment market include Robert Bosch GmbH , Körber AG , Marchesini Group S.p.A., Multivac Group, Uhlmann Group, OPTIMA Packaging Group GmbH, and Romaco Pharmatechnik GmbH.
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