Pharmaceutical Processing and Packaging Equipment Market Size, Share, Growth Analysis, By mode of delivery(oral, parenteral, topical, and other formulations), By Type(cartoning equipment, wrapping equipment, labeling equipment, and cleaning equipment), By Region - Industry Forecast 2024-2031

Pharmaceutical Processing and Packaging Equipment Market was valued at USD 22.09 billion in 2022, and is poised to grow from USD 23.08 billion in 2023, to USD 32.83 Billion by 2031 at a CAGR of 4.50% during the forecast period (2024-2031).

The pharmaceutical processing and packaging equipment market has experienced significant growth, which is primarily attributable to the booming pharmaceutical industry, rising contract manufacturing demand, the expiration of patents, which has increased generic drug production, and a trend toward flexible manufacturing. The market has a lot of room to develop thanks to the rise in pharma R&D investment and domestic pharmaceutical production in a number of nations, including China, India, Malaysia, Indonesia, and the UAE.

The introduction of biological APIs has increased interest in pharmaceutical packaging equipment as well as increased demand for API packaging and condensed innovative therapeutic applications (ANDA). The pharmaceutical industry claims that as a result, there is a rise in demand for designed pharmaceuticals to be given in economical and effective packaging. The introduction of new pharmaceuticals and the rise in the prevalence of chronic diseases are the two main factors driving the market for pharmaceutical packaging equipment.

In some countries with low-cost manufacturing facilities, an increase in production volume is projected to boost the demand for pharmaceutical packaging equipment. The pharmaceutical packaging equipment industry is expanding primarily due to liquid packaging machinery. This was ascribed to the variety of uses for liquid pharmaceutical doses, which may be given orally or by parenteral administration. It was also noted that they are palatable, making them a great choice for both elderly and juvenile patients.

US Pharmaceutical Processing and Packaging Equipment Market is poised to grow at a sustainable CAGR for the next forecast year.