PUBLISHER: The Business Research Company | PRODUCT CODE: 1429783
PUBLISHER: The Business Research Company | PRODUCT CODE: 1429783
The dispensing pharmacy packaging machine is crucial for the secure distribution of medications and nutraceuticals, ensuring their proper preparation. Pharmacy packaging involves the precise positioning of medications to preserve their therapeutic efficacy, enhance overall quality appearance, and facilitate strong branding for business success.
Dispensing pharmacy packaging machines come in two main types such as fully automatic and semi-automatic. Fully automatic systems operate entirely on automation, with speed options ranging from low to standard and high. These machines perform functions such as filling, wrapping, mixing, splitting, and other related processes.
The dispensing pharmacy packaging machine market research report is one of a series of new reports from The Business Research Company that provides dispensing pharmacy packaging machine market statistics, including dispensing pharmacy packaging machine industry global market size, regional shares, competitors with a dispensing pharmacy packaging machine market share, detailed dispensing pharmacy packaging machine market segments, market trends and opportunities, and any further data you may need to thrive in the dispensing pharmacy packaging machine industry. This dispensing pharmacy packaging machine market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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 historical growth can be attributed to several factors, including an increase in pharmaceutical research and development (R&D) expenditure, a rise in healthcare spending, increased disposable income, the growing penetration of retail pharmacies, expansion in emerging markets, and a rise in the global 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%. Forecasted growth is attributed to faster economic expansion, the upswing in pharmaceutical manufacturing, a growing aging population, and increased government initiatives. Key trends include intensified research and development, heightened product innovation, advancements in technology, a surge in mergers and acquisitions, increased partnerships and collaborations, and a notable uptick in overall investments.
The anticipated growth in the biopharmaceutical sector is poised to drive the expansion of the dispensing pharmacy packaging market. Biopharma, which involves the production of medical drugs using biotechnology, is experiencing a global upswing. Pharmaceutical packaging machinery plays a crucial role in efficiently preparing and packaging pharmaceutical and nutraceutical products for distribution. As reported by HCP Detection, a website dedicated to detecting host cell protein data, the global biopharmaceutical market is on the rise, with a forecasted valuation of USD 341.16 billion in 2023. This surge in biopharmaceutical activities is a key factor propelling the dispensing pharmacy packaging machine market, as the demand for efficient and specialized packaging solutions continues to grow.
The growth of the dispensing pharmacy packaging machine market is further supported by favorable government initiatives. Governments worldwide are actively encouraging the adoption of various digital technologies, making dispensing pharmacy packaging machines more accessible to manufacturers for production purposes. As an example, in September 2021, the administration of President Joe Biden unveiled an initiative aimed at reducing drug prices. The initiative, announced by the United States Department of Health and Human Services (HHS), focuses on testing new approaches to lower drug costs for the Medicare health insurance program. This includes exploring payment models that align with the clinical value of medications. Such government initiatives are expected to play a crucial role in supporting the growth of the dispensing pharmacy packaging machine market, providing a conducive environment for manufacturers and promoting innovation in drug packaging and distribution.
Technological advancements are emerging as a prominent trend in the dispensing pharmacy packaging machines market, with major companies actively incorporating innovative technologies to fortify their market positions. A notable example is ATS Packaging Machinery, an Italy-based company in the dispensing pharmacy packaging machines market. In October 2021, ATS Packaging Machinery launched the Gemini capping machine, leveraging Siemens machine control technology. This new machine boasts features such as preventative maintenance, remote diagnostics and service support, making it suitable for a diverse range of industrial applications, including pharmaceuticals. Its compatibility with dispensing pumps adds an element of maximum flexibility to its functionality.
A trend gaining traction in the dispensing pharmacy packaging machine market is the increasing prevalence of mergers and acquisitions among key players. Companies are strategically pursuing mergers and acquisitions to enhance their financial strength and augment product development. A noteworthy instance is the acquisition completed by Becton Dickinson and Co (BD), a USA-based medical technology company, in July 2022. BD acquired Parata Systems, a USA-based provider of medication adherence packaging technology and perpetual inventory management. This strategic move aligns with BD's solutions strategy, empowering pharmacies to reduce costs, enhance patient safety, and improve the overall patient experience across retail, hospital, and long-term care settings. Similarly, in March 2021, Scholle IPN, a USA-based flexible packaging solutions provider, acquired Bossar, a Spanish company specializing in the design and manufacture of horizontal form, fill, and seal machines for various industries, including pharmaceuticals. This consolidation aims to offer sustainable solutions in the global flexible packaging market, exemplifying the growing trend of mergers and acquisitions in the dispensing pharmacy packaging machine market.
In July 2022, the US-based medical technology company BD acquired Parata Systems for an undisclosed amount. This strategic acquisition further enhances BD's capabilities by incorporating Parata Systems, a US-based company specializing in dispensing pharmacy packaging machines. The move aligns with BD's commitment to integrating teams effectively for future growth and innovation in the healthcare sector.
Major companies operating in the dispensing pharmacy packaging machine market report are Yuyama Manufacturing Co Ltd., TOSHO Inc., Marchesini Group SPA, Canon Inc., JVM Co Ltd., Takazono Corporation, I.M.A. INDUSTRIA MACCHINE AUTOMATICHE S.P.A, Optima Packaging Group GmbH, Romaco Group, Bausch+Stroebel, Uflex Limited, Parekhplast India Limited, Essel Propack Limited, Nipro India Corporation Pvt. Ltd., Shanghai Fosun Pharmaceutical (Group) Co Ltd., Yung Chung machinery co, Jiangsu Yangtze River Pharmaceutical Group, Huhtamaki India Ltd., Vannpax, Blister Packaging Machine, Parata, SGD Pharma, Heqian Industry Co, Abnova, Brothers Pharmamach, Syntegon Technology, Robotik Technology, Constantia Flexibles Pharma, Robert Bosch GmbH, Dara Pharma, Electropak, LOG Primary Packaging, GSK, Novo Nordisk, Sanofi, Novartis, Swisslog Healthcare, Bayer Healthcare Co Ltd., Chiesi Pharmaceuticals, Actelion Pharmaceuticals UK Ltd., AstraZeneca and OMAG Srl, Alpen Pharma Group, AbbVie Ltd., MTS Medication Technologies, Pfizer, IMA Group, Masipack, Pyxis, BD, ATG Pharma, McKesson Canada, Medical Packaging Inc., ARxIUM, Talyst, Shanghai Roche Pharmaceutical Co. Ltd., Amgen, Abbott Diabetes Care, Opuspac, Naveh Pharma Ltd., Frank Noe Egypt
Asia-Pacific was the largest region in the dispensing pharmacy packaging market in 2023. The regions covered in the dispensing pharmacy packaging machine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the dispensing pharmacy packaging machine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The dispensing pharmacy packaging machine market consists of sales of pharmaceutical sachets, polybags, and blister packs. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Dispensing Pharmacy Packaging Machine Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on dispensing pharmacy packaging machine market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for dispensing pharmacy packaging machine? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The dispensing pharmacy packaging machine market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.