The global Pharmaceutical inks market is estimated to value US$ 4,760.3 Million by 2026 and the market is estimated to expand at around 6.3% CAGR during the forecast period. The pharmaceutical inksmarket is expected to grow rapidly due to the risinghealth awareness among population across the globe.
Increase in usage of pharmaceuticalsand rise in awareness among consumers regarding medicines are the majorfactors driving the growth of the pharmaceutical inks market. Also, the technological advancement in manufacturing process of pharmaceuticals alsocreates growth opportunities for the key manufacturers in thepharmaceutical inksmarket to offer competitive product offering and increase their customer base. This will have a positive impact on the global pharmaceutical inks market.
Pharmaceutical inks are ingestible inks that are used on pharmaceuticals to specifythe vital information related to medicine which includesmedicine name and the ingredients that are used to make medicines. This pharmaceutical inkis used for interior and exterior packaging of medicines. The increase in usage of medicines has increased considerably across the globe in the past few years. This is relatively driven by the rise in health awareness among consumers and rise in demand for pharmaceuticals in developing countries which directlyincreased the consumption of pharmaceuticals inks globally. Pharmaceutical inks are mainly used in medicines for printing or packaging of the medicine. Therefore, rise in usage of pharmaceuticals is driving the demand for pharmaceutical inks.The key players in the pharmaceutical inks market are strategically focused on partnership strategy in order to capture market share in the global pharmaceutical market. For instance, in September 2018, Amyris, Inc. enters into strategic agreement with Yifan Pharmaceutical Company in order to capture market share of the pharmaceutical inks market.
The global pharmaceutical inks market is segmented into four major segment named product type,pharmaceutical type, application and region. On the basis of product type,the global pharmaceutical inks market is segmented into edible inks, solvent-based inks, water-based inks, and others. On the basis of pharmaceutical type,the global pharmaceutical inks market is segmented intosolids, semi-solids, and liquids. On the basis of application, the global pharmaceutical inks market is segmented into capsules, exterior packaging, and interior packaging. On the basis of region, the global pharmaceutical inks market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Based on application, the global pharmaceutical inks market can majorly be segmented into threesub-segments, which arecapsules, exterior packaging, and interior packaging. The exterior packaging segment is expected to dominate the global pharmaceutical inks market as the large amount of content is printed on the exterior part of medicine which requires huge amount of pharmaceutical inks.The exterior packaging of medicine consist of vital information related to medicine such as ingredients list, manufacturing details and instructions. Also, the interior packagingrequires less ink as compared to exterior packaging as it consists of less information printed on it.
The rise in consumption of pharmaceutical inks in exterior packaging and increase in usage of medicines industry are the key factors driving the demand forpharmaceutical inksmarket.Europe region is expected to dominate the pharmaceutical inks market followed by North and Asia Pacific region. There is extensive usage of Pharmaceutical inks in food & beverages industry in mainly North America and Europe region. Also, stringent government norms, increasing usage in food & beverages industry, and incorporation of telematics in Pharmaceutical inksare the factors expected to drive the Pharmaceutical inksmarket in these regions.
Asia Pacific is estimated to grow rapidly with higher CAGR due to therise in health awareness and rapid urbanization. The key manufactures in the global market are focused on particular application of pharmaceutical inks. For instance, some companies are manufacturing pharmaceutical inks for interior packaging and others are specialized in capsules and exterior packaging. Also, the usage of aggressive solvents by manufacturers can have an adverse effect on the growth of pharmaceutical inks market.
The major players associated with the pharmaceutical inks market are Sun Chemicals, Videojet Technologies Inc., Koel Colours Pvt. Ltd., Markem-Imaje, Toyo Ink SC Holdings Co. Ltd. and others. The pharmaceutical inks market is highly fragmented as there are large number of local players operating in this market.
Key manufacturers are highly focused on research and development in order to manufacture pharmaceutical inks using various printing technologies. Moreover, the key players in the global pharmaceutical inks market are focusing mainly on strategic agreements with other manufacturers in order to expand their product offerings in order to gain a leading position in the global pharmaceutical inks market.
Market By Product Type
Market By Pharmaceutical Type
Market By Application
Market By Geography