Global Pharmaceutical Packaging Testing Equipment Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Overview and Scope

Pharmaceutical packaging testing equipment refers to solutions used for pharmaceutical and nutraceutical products packaging. The equipment for pharmaceutical testing packaging include hard film overwrappers, case packers, label applicators, sealers, and label applicators. It is utilised in pharmaceutical medicine packaging.

Sizing and Forecast

The pharmaceutical packaging testing equipment market size has grown steadily in recent years. It will grow from $3.97 billion in 2023 to $4.15 billion in 2024 at a compound annual growth rate (CAGR) of 4.6%. The growth in the historic period can be attributed to stringent regulatory standards, rising pharmaceutical production, focus on patient safety, globalization of pharmaceutical supply chains, increasing number of drug recalls.

The pharmaceutical packaging testing equipment market size is expected to see strong growth in the next few years. It will grow to $5.09 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to continued regulatory pressure, increasing focus on sustainability,shift toward biologics and personalized medicine,innovative packaging materials,emphasis on patient safety. Major trends in the forecast period include advancements in technology, regulatory compliance, quality assurance and control, data integrity and connectivity, customization and flexibility.

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Segmentation & Regional Insights

The pharmaceutical packaging testing equipment market covered in this report is segmented –

1) By Type: Services, Equipment
2) By Product: Primary Packaging Equipment, Secondary Packaging Equipment, Labeling And Serialization Equipment
3) By End User: Pharmaceutical Companies, Contract Research Organizations, Government Organizations, Research Institutions, Testing Laboratories

North America was the largest region in the pharmaceutical packaging testing equipment market in 2023. The regions covered in the pharmaceutical packaging testing equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth

The expansion of the pharmaceutical industry is a major driver propelling the pharmaceutical packaging testing equipment market. Pharmaceutical products refer to research, creation, and production in the pharmaceutical industry. It involves many different things, including research, chemicals, regulation, and the engagement of government organizations. Pharmaceutical packaging testing equipment helps the growth of the pharmaceutical industry by enabling globally improved regulatory flexibility and increased government cooperation, which resulted in the pharma industry’s largely avoiding supply chain and API disruptions. As a result, major companies announced expansions. For instance, in May 2022, Eli Lilly, a USA-based pharmaceutical company, announced plans to build two new manufacturing sites with a $2.1 billion investment in its LEAP Lebanon Innovation and Research District. Therefore, the expansion of the pharmaceutical industry will continue to drive the pharmaceutical packaging testing equipment market.

Key Industry Players

Major companies operating in the pharmaceutical packaging testing equipment market are focused on developing innovative products such as high-performance leak testers to test the integrity of various objects. A high-performance leak tester is a measuring instrument used to determine the condition of pharmaceutical packaging. For instance, in June 2021, Sepha Ltd., a UK-based testing equipment manufacturing company, launched a high-performance leak tester called Multi-Q HD, which is designed for container closure integrity testing (CCIT) applications. This device can detect leaks as small as 1 µm and supports the non-destructive detection of defects in various pharmaceutical containers, including glass or plastic vials, ampules, pre-filled syringes, bottles, and blow-fill-seal containers.

The pharmaceutical packaging testing equipment market report table of contents includes:

1. Executive Summary

2. Pharmaceutical Packaging Testing Equipment Market Characteristics

3. Pharmaceutical Packaging Testing Equipment Market Trends And Strategies

4. Pharmaceutical Packaging Testing Equipment Market – Macro Economic Scenario

 

5. Global Pharmaceutical Packaging Testing Equipment Market Size and Growth

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31. Global Pharmaceutical Packaging Testing Equipment Market Competitive Benchmarking

32. Global Pharmaceutical Packaging Testing Equipment Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Pharmaceutical Packaging Testing Equipment Market

34. Pharmaceutical Packaging Testing Equipment Market Future Outlook and Potential Analysis

 

35. Appendix

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