The Dispensing Pharmacy Packaging Machine by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Dispensing Pharmacy Packaging Machine, The dispensing pharmacy packaging machine market size has grown strongly in recent years. It will grow from $2.03 billion in 2023 to $2.21 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to increase in pharmaceutical r&d expenditure, increased healthcare expenditure, rise in disposable income, growing penetration of retail pharmacies, emerging markets growth and increasing population.
The dispensing pharmacy packaging machine market size is expected to see strong growth in the next few years. It will grow to $3.18 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The growth in the forecast period can be attributed to faster economic growth, growth of pharmaceutical manufacturing, rise in ageing population and increasing government initiatives. Major trends in the forecast period include increasing research and development activities, product innovation, new technology development, mergers and acquisitions, partnerships and collaborations and increasing investments.
The rising growth of biopharma is expected to propel the growth of the dispensing pharmacy packaging going forward. Biopharma refers to medical drugs produced using biotechnology. Pharmaceutical packaging machinery provides efficient solutions for preparing pharmaceutical and nutraceutical products for distribution. For instance, according to HCP Detection, an International organizational website for detecting host cell protein data, global biopharmaceuticals are increasing, and the forecast for 2023 is estimated to reach USD 341.16 billion. Therefore, the rising growth of biopharma is driving the dispensing pharmacy packaging machine market.
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The dispensing pharmacy packaging machine market covered in this report is segmented –
1) By Product Type: Fully Automatic, Semi-Automatic
2) By Speed: Low Speed, Standard Speed, High Speed
3) By Function: Filling, Wrapping, Mixing And Split, Other Functions
Technological advancements are a key trend gaining popularity in the dispensing pharmacy packaging machines market. Major companies operating in dispensing pharmacy packaging machines to strengthen their position in the market. For instance, in October 2021, ATS Packaging Machinery, an Italy-based company operating in the dispensing pharmacy packaging machines market launched a new Gemini capping machine. This new machine has been developed with Siemens machine control technology and includes features such as providing preventative maintenance and remote diagnostics and service support and is suitable across a wide range of industrial applications including pharmaceuticals. It is also suitable for dispensing pumps that work with maximum flexibility.
The dispensing pharmacy packaging machine market report table of contents includes:
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