The market for Blow Fill Seal Equipment Market is expected to reach USD$ 300.1 Mn in 2027.
Globally, the blow fill and seal equipment market is expected to rise with a CAGR of 6.2% during the forecast period, from US$300.1 Mn in 2018. The growth of this market is driven by the increasing demand for blow-fill-seal technology across pharmaceutical companies across the globe. Pharmaceutical companies are leveraging this technology for the packaging and storage of medicines. The high-aseptic packaging nature of the technology, along with the high speed of the operation, makes it a suitable option for pharmaceutical packaging.
The wide acceptance of the technology by regulatory authorities such as the FDA, EMEA, and USP is further accelerating the adoption of the equipment in the market. Furthermore, the growing demand for a convenient packaging solution, along with the rising adoption of qualitative filling techniques, is augmenting the growth of the market. However, it is the high cost of the blow-fill-seal technology that results in the rising price of the product. This is restricting the adoption of blow-fill-seal equipment. Moreover, the growing adoption of other sustainable packaging solutions also serves as a major constraint on the growth of the market.
The blow fill and seal equipment market is categorized based on the product type into bottles, ampoules, vials, prefilled syringes, and injectables. The vials segment accounted for the leading market share of over 30% of the total revenue generated in 2018. The growth of the market is driven by the increasing adoption of vials in the pharmaceuticals sector for the storage of medicines.
The vials are widely used to store liquid, powder, and capsules. It is used for primary and secondary storage of highly sensitive medicines to protect them from the external environment. Moreover, the growing use of vials in scientific research is further driving the growth of the market.
North America dominated the blow-fill-seal equipment market in 2018, with a majority share of around 35% of the revenue. The market is driven by the increasing adoption of aesthetic packaging in the region. The growing pharmaceutical packaging market is further estimated to accelerate the adoption of the blow-fill-seal equipment market. However, Asia-Pacific, followed by Europe, and other markets such as Latin America and MEA are also expected to witness significant growth during the forecast period. The expansion of the major market players in the region is augmenting the growth of the market.
The prominent players in the blow fill and seal equipment market are Bosch Packaging Technology GmbH, Brevetti Angela S.R.L., Catalent, GEA Group, Hunan CHINA SUN Pharmaceutical Machinery Co., Ltd., Marchesini Group S.p.A., Serac Inc., Recipharm Rohstoff-MaschinenVertriebsgesellschaft GmbH, Sidel S.A., SIPA S.p.A., Unither Pharmaceuticals, and Weiler Engineering.
This research report presents the analysis of each segment from 2017 to 2027,considering 2018as the base year for the research. The compound annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2019 to 2027.
The blow fill and seal equipment market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global blow-fill-seal equipment market based on product type, application, and geography. Key segments covered in the report are as follows:
The market for Blow Fill Seal Equipment Market is expected to reach USD$ 300.1 Mn in 2027.
The Blow Fill Seal Equipment Market is expected to see significant CAGR growth over the coming years, at 6.2%.
The report is forecasted from 2019 -2027.
The base year of this report is 2018.
Catalent, GEA Group, Hunan CHINA SUN Pharmaceutical Machinery Co., Ltd., Marchesini Group S.p.A. are some of the major players in the global market.