Global pharmaceutical packaging testing equipment market is expected to reach USD 5,776.65 million by 2026 from USD 2,561.51 million in 2018, growing at a CAGR of 10.7% in the forecast period of 2019 to 2026. The years considered for study are as mentioned below:
Global pharmaceuticals packaging testing equipment market is a highly concentrated market which includes key players and local players. The market has witnessed increased various strategic developments owing to favourable market scenario. The market has a prominent growth in upcoming years due to criticality of packaging for pharmaceutical drugs, technological advancements and mandatory guidelines.
The market has witnessed developments in terms of merger and acquisitions, partnerships or product launches to enhance the product portfolio to meet the rising demand of innovative technology of pharmaceutical packaging testing equipment. For instance, In October 2016, TM Electronics, Inc. (US) was acquired by Union Park Capital. This acquisition will expand the product portfolio of Union Park Capital and help them to generate more revenue and sustain in the business competition. Such developments will only lead to a healthy future for global pharmaceuticals packaging testing equipment market.
Labthink International dominated the global pharmaceuticals packaging testing equipment market and accounts for the highest market share in 2018 which is followed by UNION PARK CAPITAL and West Pharmaceutical Services, Inc. The other key players existing in the market includes Qualitest International Inc., AMETEK Sensors, Test & Calibration (STC), TEN-E, PTI Packaging Technologies and Inspection, AMRI, Westpak Inc., Eurofins Scientific, Intertek Group plc, Cryopak, SGS, TASI Group, Edwards Analytical, NSF International, Nelson Laboratories, LLC and others.
Labthink International headquartered in Jinan, China was founded in 1989. The company focuses on providing R&D of laboratory testing instruments, packaging testing and test data processing services for manufacturers, food and beverages producers, medical and pharmaceutical companies and other companies. The company has two operating product categories testing products and testing services. The market focused category lies under testing products and testing services category. The company is continuously engaged in strategic relationship to enhance the production and manufacturing of the equipment and services such as,
It has its global networks through direct sales representatives and distributors in the U.S. and China.
UNION PARK CAPITAL:
UNION PARK CAPITAL headquartered in Massachusetts, U.S. was founded in 2012. The company is focussed on financial support in acquisition financing, family held businesses, take private transactions, management buy-outs, recapitalisations, growth equity investments, roll-overs of a portion of existing equity. The company has many operating product categories Testing 101, products, leak and leak flow testers, leak and leak flow system testers, package testers, fixtures and accessories, industries and applications, services & support categories. The market focused category lies under Testing 101, products, leak and leak flow testers, leak and leak flow system testers, package tester category. It has its global networks through direct sales representatives and distributors in the U.S.
West Pharmaceutical Services, Inc.:
West Pharmaceutical Services, Inc. is headquartered in Pennsylvania, U.S. founded in 1923. The company is engaged in providing innovative and high quality laboratory, advisory services and creating opportunities for generating shareholders value. The company operates through two business segments which include proprietary products and contract manufactured products. Contract manufactured products is market focused segment whose overall sales revenue of 2018 as compared to 2017 increased by 7.4% due to foreign currency translation impact. Apart from that, increase in sales price of the products and higher sales volume in ireland contributed in the growth of the company.
Its market focused categories are extractables and leachables analysis, packaging and device/combination product testing, container closure integrity analysis and techniques. In 2018, the total employees of the company were more than 36,518, whereas the revenue of the company obtained in 2018 was USD 1,717.40 Million.
The company has wide geographic presence in North America, South America, EMEA, Asia-Pacific. It operates through its subsidiaries such as Tech Group North America, Inc. (U.S.), Tech Group Europe Limited (Ireland), Medimop Medical Projects Ltd (Israel), West Pharmaceutical Services Cornwall Ltd (U.K.) and West Pharmaceutical Services Colombia SA (U.S.) among others.
Global Pharmaceuticals Packaging Testing Equipment Market – Industry Trends and Forecast to 2026
North America Pharmaceuticals Packaging Testing Equipment Market – Industry Trends and Forecast to 2026
Europe Pharmaceuticals Packaging Testing Equipment Market - Industry Trends and Forecast to 2026
Asia-Pacific Pharmaceuticals Packaging Testing Equipment Market – Industry Trends and Forecast to 2026