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The global market for automated packaging machinery, currently valued at more than $34 billion, is set to rise to more than $79.4 billion by 2024.
These projected statistics come from a new research report released in June 2016 that highlights the many advantages of automated packaging machinery systems. This has led to an increasing dependency on automated packaging machinery and automated systems. Of course, the increased prevalence of chronic diseases worldwide is also propelling market growth in the packaging sector.
The Use of Automated Packaging Machinery in Different Sectors
The medical sector is vast, and so it is not surprising that predictions point to different market areas, including:
Pharmacies where various functions improve patient safety by minimizing errors. These include storage and dispensing of medicines as well as retrieval that enables tracking and traceability.
Hospitals that also benefit from automation that reduces operational costs and reduce errors.
Medical training and logistics that uses very advanced automation systems for material transportation and tracking of locations.
Regions With the Greatest Market Share of Medical Automation
North America leads the world with a market share of more than 43 percent. The report states this is due to increased government expenditure in healthcare, particularly in the life sciences sector, together with continuing clinical research.
Europe also has a large market share, because its geriatric population is rising and is predisposed to chronic disease. This has led to increased demand for point-of-care testing. Additionally, the European Medicines and Healthcare Products Regulatory Agency is currently validating various automated devices and systems to comply with EU regulations – a factor that is likely to increase market growth opportunities.
The Asia Pacific region has a healthcare infrastructure that is improving rapidly, and a rising awareness amongst patients, placing it in third place and promising “lucrative growth” in the near future. Sadly the other factors that play a role including a “soaring” rate of diabetes, CVDs, cancer, and various orthopedic diseases.
TEFUDE Packaging Machinery offers the full range of automatic packing lines including down paper packing equipment, dual roll packing machine, servo wrapping equipment, packaging lines, and a number of custom solutions. Whether you want a packaging automation solution, automated packaging equipment, or a partner, TEFUDE Packaging Services can help.