Market Size of Pharma Packaging Machinery Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 7.50 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Pharma Packaging Machinery Market Analysis
The Global Pharmaceutical Packaging Machinery Market is expected to register a CAGR of approximately 7.5% during the forecast period (2021-2026). The spread of COVID-19 negatively impacted the market due to disruptions in the supply chain due to extended factory closures and delayed production globally. Logistically, it has been difficult for bottles, blister packaging, prefillable syringes, vials, and ampoules manufacturers to provide to pharma companies on time.
- However, the global demand for pharmaceutical packaging is expected to increase for the next two to three years for the COVID-19 vaccine supply. Various vendors have been expanding their capacity to meet the surge in demand. This is expected to increase the demand for packaging machinery for the pharmaceutical industry globally.
- Pharmaceutical packaging is packaging products made using compatible materials for the transfer and storage of drugs. Based on the nature of the drug, packaging products are chosen from a range of material types and product types, provide protection, identification, and ensure the enclosed drug product's integrity.
- The pharmaceutical industry across the world has evolved considerably, owing to various factors that include the growth in regulatory norms worldwide and focus on population health management and invention. In addition, the growth in the demand for over-the-counter medicines and a more informed customer base is also driving the growth of the market.
- The pharmaceutical packaging market has a direct correlation with the pharmaceutical market. Any changes in demand for pharmaceutical drugs will impact the packaging market positively, as higher demand for new drugs leads to a greater need for packaging, thereby impacting the growth of the studied market.
