Future Market Insights
The growth in the global pharmaceutical industry has led to the growth in the pharmaceutical machines industry, which in turn has escalated the demand in tablet packing machine market. A lot of new techniques are being developed for drug manufacturing and packaging. The growing need to invest in new areas and products has resulted in development of Pharmaceutical machinery including the packaging machinery. In addition, new technology advancements in the way product is manufactured, and a need for accuracy, efficiency, reliability and speed in the pharmaceutical packaging market has also contributed to the growth in demand for tablet packing machine market.
Tablet Packing Machine Market Dynamics:
The global pharmaceutical industry is expected to grow at a CAGR of around 10% annually, which is primarily driven by the increase in demand for generic and biotechnology-based drugs. This further is expected to fuel the growth in pharmaceutical packaging market including the tablet packing machine market. Additionally, to tackle counterfeiting issues in pharmaceutical industry, companies are willing to invest more in packaging technology which would result in higher margins and ultimately boosting the growth in tablet packing machine market and also strict regulations and high safety standards would result replacement of old packaging machines with new machines which would further drive the demand in tablet packing machine market. Some of the challenges and restraints that the tablet packing machine market faces are issues related to cross contamination of drugs as different tablets are packed through same machines, drying drug pipeline, effective costing of product, automation risks associated with manufacturing of drugs.
Tablet Packing Machine Market Segmentation:
On the basis of type, the global Tablet Packing Machine market is segmented into:
On the basis of material, the global Tablet Packing Machine market is segmented into:
Tablet Packing Machine Market- Regional Outlook:
Geographically, the tablet packing machine market can be segmented into North America, Latin America, Europe, Asia-Pacific (APAC) and Middle East & Africa (MEA). The growth in Asia Pacific is primarily attributed to developing economies like India and China because of its high population and also growing pharmaceutical industry. Indian Pharmaceutical industry is expected to grow at a CAGR of 15% given that India is the largest supplier of generic drugs which further is expected to drive the tablet packing machine market in the region. In addition, China is also one of the largest producer and consumer of packing machines. Europe and North America are also expected to witness a high growth in tablet packing machine market due to growing pharmaceutical industry due to rise in aged population. Furthermore, Germany plays an important role in the Europe tablet packing machine market, as is it expected to contribute around 15% market share in the Pharmaceutical equipment market. Latin America is also expected to witness an above global average growth in tablet packing machine market as the smaller players in the region are refurbishing the packaging machines because of high safety standards and regulations in the pharmaceutical industry.
Tablet Packing Machine Market- Key Players:
Some of the leading players identified across the globe in the tablet packing machine market are: Robert Bosch GmbH, Marchesini Group S.p.A, Romaco Pharmatechnik GmbH, Körber Medipak Systems AG, Shiv Shakti Packaging Industries, ACG Worldwide Private Limited, Uhlmann Pac-Systeme GmbH & Co. KG, Multivac Inc, OPTIMA packaging group GmbH and Jornen Machinery Co., Ltd.
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