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. Released by the Californian-based market research company, Grand View Research, the report states that the rising need for automated packaging machinery and equipment relates primarily to the automation of monotonous tasks including:
- Monitoring of quality
- Counting goods
- Labeling and packaging
- Scanning of devices and medicines
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.
Diseases That Impact on the Need for Automated Medical Equipment
The report cites World Health Organization (WHO) findings and statistics that state:
- Cardiovascular diseases (CVDs) are the main cause of mortality worldwide
- There has been an “exponential rise” in the incidence of diabetes, with 108 million cases reported in 1980 rising to 422 million in 2014
- In addition to CVDs (specifically heart disease and stroke) and diabetes, other chronic conditions including cancer and respiratory diseases cause about 60 percent of deaths worldwide
According to the US government-funded National Center for Biotechnology Information (NCBI), which is part of the National Institutes of Health (NIH), close to half (about 40.5 percent) of the population in the US is likely to face at least one CVD by 2030.
How Chronic Diseases Impact on the Need for Automated Packaging Equipment
According to the Grand View Research report, benefits resulting from increased automation in pharmacies and laboratories include a decrease in errors when “huge” sampling is required, as well as reliability, speed, and cost savings. At the same time, there is increased demand for reproducibility and accuracy during medical procedures, particularly those offered by the CyberKnife Series and automated defibrillators that are used to treat cancer. The CyberKnife System provides a highly sophisticated solution for full-body robotic radiosurgery, and the CyberKnife M6 Series expands the system into radiation oncology treatment.
These factors are predicted to make a positive impact on the demand for increased automated medical packaging in the coming decades.
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.
- Institutes and research laboratories that use automated systems to detect and treat chronic diseases. Laboratory-based functions also help to reduce the gaps between supply and demand caused by mechanization, increasing productivity.
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.
Automated Packaging Machinery in the US
Technik Packaging Machinery offers the full range of automatic packaging machinery including dosing systems, stick packers, vertical bagging equipment, both high speed and compact cartoners, bottling lines, and a number of custom solutions.
Whether you want a packaging automation solution, automated packaging equipment, or a partner that will do your assembly, packaging, logistics and fulfillment, Technik Packaging Machinery and its sister company, Technik Packaging Services can help.