(PharmaNewsWire.Com, November 01, 2017 ) The North America Pharmaceutical Packaging Equipment Market was worth USD 1.56 billion in 2016 and estimated to be growing at a CAGR of 6.9%, to reach USD 2.17 billion by 2021. The market is expected to have high CAGR in the given forecasting period. It is estimated to continue expanding with the developments in Pharmaceutical sector.
Pharmaceutical packaging equipment is the equipment that is used to pack pharmaceutical products for protection against harmful toxins and rays. The packaging also maintains the quality of products, shielding them against bacterial growth and thus increases their life. Pharmaceutical packaging mainly covers primary packaging system, secondary packaging system, and labeling system.
Market Conditions: The North America Pharmaceutical Packaging Equipment market is driven by factors high spending on R&D activities, the presence of major pharmaceutical market players, and increasing government support. Increasing awareness in the healthcare sector also plays a key role in the growth of this market. However, adverse political environment and high competition are constraining the market growth in some regions.
North America Pharmaceutical Packaging Equipment Market Segmentation: By Packaging: Introduction, Primary Packaging Equipment, Secondary Packaging Equipment and Labelling & Serialization By Product: Introduction, Liquid Packaging Equipment, Solid Packaging Equipment and Semi-solid Packaging Equipment By Geography: Introduction, United States and Canada
The North America region is geographically segmented into U.S.A and Canada. This region is leading the global market for Pharmaceutical Packaging Equipment as of 2016 and is expected to grow significantly over the forecast period. The high disposable income of people in U.S.A and Canada is also contributing to the market growth.
Key Players: Some of the major competitors dominating the market by their Packaging Equipments are Robert Bosch GmbH (Germany) Kφrber AG (Germany) Marchesini Group S.p.A. (Italy) Multivac Group (Germany) Uhlmann Group (Germany) OPTIMA Packaging Group GmbH (Germany) Romaco Pharmatechnik GmbH (Germany)
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