The pharmaceutical packaging and machinery market is expected to see growth as the industry sets its sights on expansion in upcoming years.
The pharmaceutical packaging and machinery market is expected to see growth as the industry sets its sights on expansion in upcoming years.According to Packaging World one company in particular, Bosch, expects its sales to boom through 2020. In 2013 alone, the company managed to leap from €900 million in revenue to about €1.1 billion. That's only the start. With a 6.4 percent increase in growth last year, and 10 percent higher sales, the company expects to increase its sales figures to as much as €1.5 billion euros by the end of 2015.
Driving this growth are the expanding industries of pharmaceuticals and food, which generated more than 90 percent of the company's sales last year. Pharmaceuticals were especially prominent, with a 9 percent growth in sales during that time. Pharmaceuticals aren't going to see dwindling sales anytime soon; with the growing importance of generic drug manufacturers, the company expects to see continued improvement.
As far as food, the company expects the largest packaging needs to be in liquid food and selected beverages. Both industries are expected to be met by consumers' need for a full-service supplier. Packaging machines are growing in prominence, according to the news source, with sales expected to expand rapidly through the end of the decade.
Pharmaceutical packaging machinery expected to grow worldwide
These trends in the pharmaceutical packaging market are right in tune with what's expected from the industry's packaging equipment market. From now until 2018, the equipment market itself is expected to have plenty of opportunities for growth - to extent of a worth of $6,181 million, namely due to its advancements in drug delivery technologies and a greater extent of drugs being opened up for generic use.
Another growing trend that's likely to further change the industry's expectations will be a shift in use of conventional packaging lines in response to a growing demand for flexible, automated and integrated packaging lines.
The only major inhibitors in the market are expected to be the increasing cost of raw materials, increased use of refurbished packaging equipment for different activities ranging across smaller manufacturers in emerging markets and an increasingly competitive environment throughout the pharmaceutical industry.
That said, there will be plenty of interest in coming years thanks to reduced downtime of packaging needs and more attempts to find novel drug delivery methods.
