Pharmaceutical Industry Expansion Fuels Growth in Processing and Packaging Equipment Market

Pharmaceutical Processing and Packaging Equipment Market Set to Reach $30.8 Billion by 2031, Growing at a CAGR of 5.3% from 2024

The pharmaceutical industry is witnessing remarkable growth due to the rising global burden of diseases, an aging population, and increased research and development (R&D) investments. This expansion is significantly boosting the demand for pharmaceutical processing and packaging equipment, as the industry adapts to meet evolving healthcare needs.

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Global Disease Burden Fuels Pharmaceutical Demand

The growing prevalence of chronic diseases is a key driver for the pharmaceutical industry’s growth. According to Cancer Tomorrow, an estimated 19.3 million people were diagnosed with cancer in 2020, and this number is expected to surge to 30.2 million by 2040. Similarly, the International Diabetes Federation reported that approximately 463 million adults were living with diabetes in 2019, a figure projected to rise to 700 million by 2045. This increasing prevalence of life-threatening and chronic diseases is driving the demand for pharmaceuticals and, in turn, expanding the market for pharmaceutical equipment.

Aging Population Contributes to Rising Healthcare Needs

In parallel with the disease burden, the world’s aging population is another critical factor contributing to the demand for pharmaceuticals. According to the World Health Organization (WHO), the number of people aged 60 and above reached 1 billion in 2020 and is expected to more than double to 2.1 billion by 2050. With aging being a primary risk factor for many chronic conditions, the surge in the geriatric population is expected to further increase the disease burden, fueling pharmaceutical demand and stimulating the need for advanced processing and packaging equipment.

Pandemic Preparedness Enhances Industry Flexibility

Recent global health crises, including the COVID-19 pandemic, have underscored the need for increased flexibility and efficiency in pharmaceutical manufacturing. The COVID-19 pandemic, along with other outbreaks such as MERS, Ebola, and H1N1, has reinforced the importance of pandemic preparedness. This shift has accelerated the demand for flexible pharmaceutical manufacturing equipment. Additionally, initiatives by public organizations to reduce drug prices during the pandemic have enhanced access to essential medicines, which is expected to drive further growth in pharmaceutical demand, thereby increasing the need for advanced processing and packaging solutions.

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Patent Expirations Open the Door for Generics

The expiration of pharmaceutical patents is creating substantial opportunities for the production of generic drugs. Each year, several high-profile drug patents expire, paving the way for generic alternatives to enter the market. For example, drugs such as Lucentis by F. Hoffmann-La Roche AG, Bystolic by AbbVie, Vascepa by Amarin Corporation, Northera by H. Lundbeck A/S, and Narcan by Emergent BioSolutions Inc., were expected to lose U.S. patent protection in 2021. The rise in the availability of generic drugs is expected to drive increased demand for pharmaceutical processing and packaging equipment as manufacturers ramp up production to meet market demand.

Rising R&D Investments Driving New Drug Development

The pharmaceutical industry is also benefitting from a surge in R&D investments, which are fueling the commercialization of new drugs. According to the International Federation of Pharmaceutical Manufacturers & Associations (IFPMA), R&D investments in key markets such as the U.S. and Europe have grown significantly. As of 2020, approximately 6,900 drugs were under development, targeting areas such as immunology, neurology, cancer, and infectious diseases. This wave of innovation is expected to further drive the demand for state-of-the-art pharmaceutical processing and packaging equipment as new drugs are brought to market.

Outlook: A Bright Future for Pharmaceutical Processing and Packaging Equipment

The convergence of these factors—the rising prevalence of diseases, an aging population, increased R&D investments, and the introduction of generic drugs—sets the stage for continued growth in the pharmaceutical industry. This growth is expected to fuel a sustained rise in demand for pharmaceutical processing and packaging equipment as manufacturers scale up to meet both existing and emerging healthcare challenges.

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