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Pharmaceutical Packaging Equipment Market: Industry Witnesses Continuous Innovations, New Product Launches, and Geographic Expansions
The pharmaceutical packaging equipment market is highly fragmented, with none of the major players accounting for more than 15% of the market share. The market comprises several small players, each accounting for a market share of between 1% to 5%. A majority of these players are based in low-cost manufacturing locations such as China, India, and Brazil.
IMA S.p.A. (Italy) and Robert Bosch GmbH (Germany) were the leading players in the pharmaceutical packaging equipment market in 2012, with market shares of approximately 13% to 14% each. IMA has a diversified product portfolio, which includes a wide range of blister packaging machines, counting machines, tube filling and sealing machines, cartoning machines, case packaging machines, labeling machines, and many other pharmaceutical packaging machines. IMA’s leading position in the market can be attributed to its strong manufacturing and distribution footprint across the world, which enables it to serve customers in more than 70 countries. Recently, the company expanded its business in China through the partial acquisition of Shanghai Tianyan Pharmaceutical Machinery Co. Ltd. Currently, the company is focusing on acquiring key players in the packaging machinery industry, so as to gain new customers and thereby expand its global reach.
The stronghold of Bosch in the packaging equipment market can largely be attributed to its innovative product portfolio in the pharmaceutical packaging equipment segment, including blister packaging machines, sterile filling and sealing machines, case packaging machines, pre-fillable syringe packaging machines, and labeling machines, among others. The company has a strong business presence in almost 150 countries all over the globe. The company is continuously growing in the pharmaceutical packaging equipment market, with its new product launches and expansions in the developing economies. During 2010 to 2013, the company has launched 10 new products in order to strengthen its product offerings. At the same time, the company also acquired Eisai Machinery Co. Ltd. to expand its product portfolio and strengthen its global presence. The company’s continuous investment in capacity expansion has made it stronger in terms of production capacity.
The key strategies followed by most companies in the global pharmaceutical packaging equipment market in 2012 and 2013 were new product launches, expansions, mergers and acquisitions, and partnerships and agreements. Broad research in this market has brought to light that the new product launches strategy is the key strategy followed by top five players, which accounted for 39% of the total strategies during 2010 to 2013. During 2010 to 2013, the growing need for novel drug delivery techniques formed the basis of innovations in the market, when a majority of the leading players launched various automatic and integrated packaging lines, such as blister packaging lines and cartoners, among others. The key players involved in these strategies were Robert Bosch GmbH (Germany), Marchesini Group S.p.A. (Italy), and Uhlmann Group (Germany).
The major players in the pharmaceutical packaging equipment market are expanding their current facilities along with opening new manufacturing plants and after-sales service subsidiaries in emerging countries like China, India, and Brazil. This is due to the growing concerns over healthcare costs in the developed countries, cost pressures to maintain and improve their existing profit margins, and the availability of low-cost raw materials and labor. During 2010 to 2013, the major players who adopted this strategy included Robert Bosch GmbH (Germany), Marchesini Group S.p.A. (Italy), and Romaco Pharmatechnik GmbH (Germany).
In this fragmented market, the top players struggle to maintain their leadership positions. To maintain their market shares, many players in this market aim to either diversify their product portfolios or expand their geographic presence. While inorganic expansions have been followed by some companies, a majority of the top players have adopted organic growth approach in the form of number of new product launches.
Pharmaceutical Packaging Equipment Market by Package Type (Blister, Strip, Bottle, Tube, Aseptic Packaging, Wrapping, Labeling & Serialization), by Product Type (Tablet, Powder, Cream, Syrup, Aseptic Liquid, Aerosol) - Global Forecast to 2018
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