A forecasted expansion of the pharmaceutical machinery market is driven by enhancements in technology, automation, sustainability, and supply chain challenges, as highlighted in a recent infographic titled "Pharmaceutical Manufacturing: The Future Ahead," released by PMMI, The Association for Packaging and Processing Technologies. During late 2023 and early 2024, PMMI's Business Intelligence surveyed pharmaceutical manufacturers to evaluate the industry's progress since the release of the organization's 2022 white paper with a similar title. The findings revealed an industry primed for growth yet confronted with various hurdles.
Establishing the foundation for the survey is the 2023 State of the Industry Report, also by PMMI. Per the report's findings, in 2022, shipments of pharmaceutical machinery amounted to $1.1 billion, representing 11% of the packaging machinery market, with a forecasted compound annual growth rate (CAGR) of 7.8% by 2027. This growth trajectory surpasses that of several larger sectors, including the food industry, which is projected to have a CAGR of 7.3%.
