(Australia-NewsWire.Com, February 13, 2018 ) According to the report “Asia Pacific Pharmaceutical Packaging Equipment Market By Package (Primary Packaging Equipment, Secondary Packaging Equipment, Labelling & Serialization Equipment), By Product (Liquid Packaging Equipment, Solid Packaging Equipment And Semi-solid Packaging Equipment) And By Region - Industry Analysis, Size, Share, Growth, Trends, And Forecasts (2016–2021)” published by Market Data Forecast, The Asia Pacific Pharmaceutical Packaging Equipment Market was worth USD 1.54 billion in 2016 and estimated to be growing at a CAGR of 6.9%, to reach USD 2.15 billion by 2021. The market is expected to grow in the given forecasting period. The market continues to expand with the developments taking place in Pharmaceutical sector.
Pharmaceutical packaging equipment is a machine that assists in packing the pharmaceutical product for protection and maintenance of its quality. The packaging also keeps the pharmaceutical product away from toxins, bacterial growth and increases their storage life by shielding them against all the outside influences that can affect the products. Pharmaceutical packaging material covers primary packaging system, secondary packaging system and labelling system.
The Asia Pacific Pharmaceutical Packaging Equipment market is driven by factors like growing generic and contract manufacturing activities especially in the market for pharmaceutical packaging equipment in developing countries like India and China. Various initiatives taken by the government and the recent development in Pharmaceutical sector is also expected to drive the growth of this market. However, unfavourable political environment and high competition is challenging the market growth in certain regions.
The Asia Pacific Pharmaceutical Packaging Equipment market is broadly categorized into Primary Packaging Equipment, Secondary Packaging Equipment and Labelling & Serialization Equipment on the basis of Packaging. The primary packaging equipment includes Aseptic Filling and Sealing Equipment, Bottles Filling and Capping Equipment, Blister Packaging Equipment, Soft-Tube Filling and Sealing Machines, Sachet Packaging Equipment, Strip Packaging Equipment, Counting Equipment and Others. The secondary packaging equipment includes Cartoning Equipment, Case Packaging Equipment, Wrapping Equipment, Tray Packaging Equipment, Palletizing and De-palletizing Equipment and Others. The labelling and serialization equipment includes Bottles and Ampoules, Cartons and Data-matrix.
Further the market is segmented on the basis of Product into Liquid Packaging Market, Solid packaging Market and Semi-solid Packaging Market. Liquid packaging market covers equipment for Aseptic Liquids, Syrups, Ear/Eye drops, Aerosols and others while solid packaging market covers equipment for Tablets, Capsules, Powders and Granules. The semi-solids packaging covers Ointments, creams and Suppositories.
The Asia Pacific region is geographically segmented into China, India, Japan, South Korea and Australia. This region is one of the most lucrative markets for Pharmaceutical Packaging Equipment market and is projected to have the highest CAGR when compared to other regions of the world in this period. The economy of many countries in this area is developing and this is fuelling the market growth in this region.
Some of the major competitors dominating the Asia Pacific Pharmaceutical Packaging Equipment Market are:
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