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Pharma Packaging Machinery Market Surges Worldover

 


Pharma packaging is one of the fastest growing sectors. Worldwide demand for packaging equipments for the pharmaceutical and personal care products sector is all time high, growing at the rate of 5.4 per cent. The sector is forecast to post the strongest gains of any market through 2008, reaching $4.4 billion in that year.

Overall, the world packaging machinery market will reach $31bn in 2008. And the greatest growth in this sector will be triggered by developing countries, according to a recent report from Freedonia. Improving economic fundamentals will bolster most packaging machinery consuming sectors in these regions, notes the report, and as a result manufacturing output will increase, creating opportunities for packaging machinery suppliers.

The most promising markets are those emerging in Latin America the Asia/Pacific region, where faster population growth and more rapidly increasing levels of industrial output will simulate demand for packaging machinery. China will record some of the strongest increases, with packaging machinery demand rising by 8 per cent annually through 2008, and India will also post strong gains, suggests the report.

For pharmaceuticals/personal care, rising standards of living in the developing world will increase the number of consumers that can afford packaged products. Meanwhile, in the developed world, the sector will benefit from the rising average age of the population in places like the US and Japan, which will spur demand for packaged medicine and personal care products.

Across all industries, the US is the largest producer of packaging machinery, with 2003 shipments of $4.9bh, followed by Japan with $4.1bn. Other leading producers include Germany, Italy and China, all with annual shipments in excess of $1bn. The major net exporters of packaging equipment in 2003 were Germany and Italy, followed by Sweden and Japan.

Among product groups, labeling and coding machinery remain the fastest growing segment, driven by the increasing number of labelling regulations in many parts of the world, as well as shipper's need to track products. Filling and form/fill/seal equipment will remain the largest product group, due to their widespread use across a range of industries. New product development activity will continue in all types of equipment, with packaging machinery manufacturers continuing to introduce smarter, faster and more flexible units. The report also forecasts that the machinery market will reach $40.1bn in 2013, with pharmaceuticals and personal care items accounting for $5.7bn of that total.

The pharma packaging industry in India is considered a sunrise industry with a great scope for entrepreneurship and marketing. Packaging industry, here, is a heterogeneous phenomenon which is only partly organized. The concept of packaging in general came into existence in India during 1950s, which became noticeable in 1960s, grew in size in 1970s, revolutionized in 1980s, developed in 1990s.

Currently, the industry is worth about Rs 65,000 crore. It is growing at a rate of 15 per cent annually, which is just double to the global packaging industry growth, says BK Karna, deputy director of Indian Institute of Packaging (IIP), Hydrabad.

Despite this, only a few companies India can afford to use latest technology machineries in pharma packaging. This is, of course, a discouraging trend especially at a time of globalization wherein the companies face tough competition. Pharma packaging companies should be updated with the technological advances, packaging innovation must be encouraged and initiated, BK Karna suggests.

(Ref : "Chronicle Pharmabiz" dated May 12, 2005)

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