Global Pharmaceutical Packaging Testing Equipment Market is expected to reach USD 46.73 billion by 2024 from USD 20.87 billion in 2016, at a CAGR of 10.6% in the forecast period 2017 to 2024. The new market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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The major factors driving the growth of this market are the criticality of packaging for pharmaceutical drugs, technological advancements. These factors increase the demand for pharmaceutical packaging testing equipment products. On the other hand, shortage of skilled professionals and high cost may hinder the growth of the market.
Short Segmentation of Market:-
Global Pharmaceutical Packaging Testing Equipment Market by Equipment {permeability analyser (gas permeation tester and container gas permeability tester), package vibration tester, moisture meter, package drop tester, creasing and stiffness tester and texture analyser}, Services {container closure integrity testing(vacuum & pressure decay, high voltage leak detection, helium leak detection, and oxygen headspace), container testing (extractables testing, container permeation testing, material identification testing, and functionality testing), raw material testing, shelf life testing, microbial testing, physical chemical characterization, stability testing, environmental monitoring, visual inspection and functional testing, method validation, and batch-release testing}, End Users (contract research organizations, testing laboratories, research institutions, pharmaceutical companies, and government organisations), Geography (North America, Europe, Asia-Pacific, South America, Middle East Africa)– Industry Trends and Forecast to 2024
CRITICALITY OF PACKAGING FOR PHARMACEUTICAL DRUGS
The safety of drugs can be ensured by using the good packaging material such as glass, metals plastics according to the drug, which can be ensured when the packaging undergoes the testing such as vibration testing, moisture testing and many more. Need and importance of packaging of the pharmaceutical drugs is driving the market for pharmaceutical packaging testing equipment.
MANDATORY GUIDELINES
The criticality of the pharmaceutical packaging resulted in the mandatory guidelines by the government for packaging testing, leading to the growth of the pharmaceutical packaging testing equipment market.
TECHNOLOGICAL ADVANCEMENTS AND INNOVATIONS IN PHARMACEUTICAL PACKAGING TESTING EQUIPMENT MARKET
The pharmaceutical packaging testing equipment technology market is expected to show significant growth in the coming years, due to various technological advancements and new product launches in order to improve the quality of packaging of the pharmaceutical drugs.
Top Competitors:
- Labthink,
- TM Electronics Inc.
- West Pharmaceutical Services Inc.
- Qualitest International Inc,
- AMETEK Inc.,
- TEN-E Packaging Services Inc,
- PTI packaging technologies and inspection,
- Albany Molecular Research Inc. (AMRI),
- Westpak, Inc.
- among others.
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Key Questions Answered in Global Pharmaceutical Packaging Testing Equipment Market Report:-
What will the market growth rate, Overview and Analysis by Type of Global Pharmaceutical Packaging Testing Equipment Market in 2024?
What are the key factors driving, Analysis by Applications and Global Pharmaceutical Packaging Testing Equipment Market?
What are Dynamics, This Overview Includes Analysis of Scope, and price analysis of top Vendors Profiles of Global Pharmaceutical Packaging Testing Equipment Market?
Who are Opportunities, Risk and Driving Force of Global Pharmaceutical Packaging Testing Equipment Market?
Who are the opportunities and threats faced by the vendors in Global Pharmaceutical Packaging Testing Equipment Market?
What are the Global Pharmaceutical Packaging Testing Equipment Market opportunities, market risk and market overview of the Market?
Key Drivers:-
Some of the major factors driving the market for pharmaceutical packaging testing equipment market are critical of packaging for pharmaceutical drugs and mandatory guidelines. These factors increase the demand for pharmaceutical packaging testing equipment market. Rising demand for pharmaceutical packaging testing equipment, and technological advancements are the major factors driving the growth of the pharmaceutical packaging testing equipment market.
- Shortage of skilled professionals and high cost are the factors which may hinder the growth of this market.
- Many companies are increasingly focusing on extractables testing and vacuum and pressure decay testing in order to strengthen their product portfolios in the pharmaceutical packaging testing equipment market.
- Increasing demand for permeability analysers, and extractables testing will drive the market in future.
Key Points:
- Permeability analysers market is growing with the highest CAGR.
- Globally extractables testing are driving the market with highest market share.
- Container closure integrity testing is dominating the pharmaceutical packaging testing services market.
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Market Segmentation:
The global pharmaceutical packaging testing equipment market is segmented on the basis of equipment, services, and geography.
The global pharmaceutical packaging testing equipment market is segmented into 6 types-
- permeability analyser,
- package vibration tester,
- moisture meter,
- package drop tester,
- creasing and stiffness tester and texture analyser.
In 2017, the permeability analyzer segment is expected to dominate the market with a share of 39.3% and is expected to continue this trend till 2024.
On the basis of services:- Container closure integrity testing, container testing, raw material testing, shelf life testing, microbial testing, physical chemical characterization, stability testing, environmental monitoring, visual inspection and functional testing, method validation, and batch-release testing. Container testing is segmented into extractables testing, container permeation testing, material identification testing, and functionality testing. Container closure integrity testing is segmented into vacuum & pressure decay, high voltage leak detection, helium leak detection, and oxygen headspace.
On the basis of end users:- Contract research organizations, testing laboratories, research institutions, pharmaceutical companies, and government organisations.
In 2017, the contract research organizations segment is expected to dominate the market and is expected to continue this trend till 2024.
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