The global pharmaceutical inks market size is expected t ovalue around US$ 4,760.3 Million by 2026 with a compounded growth rate of 6.3% CAGR during the forecast period. The rise in health awareness in developing countries is one of the factors that is expected to boost the growth of the global pharmaceutical inks market.
Additionally, the evolution of 3D printing technologies is expected to create growth opportunities for manufacturers that will help them to manufacture varieties of pharmaceutical inks for different application. Technological expansion in the manufacturing process of medicines and upsurge in demand for pharmaceuticals has increased the production of pharmaceutical inks. The production of pharmaceutical inks is highly dependent on the production of medicines. Moreover, these pharmaceutical inks need to dry quickly after their application on packaging or medicines. Pharmaceutical ink manufacturers are using various solvents for the drying process. However, the usage of incorrect solvents can have an adverse effect on the environment as well as the health of patients consuming pharmaceuticals. Solvents need to be selected after careful consideration. The usage of wrong solvents has unfavourably affected the growth of pharmaceutical inks, thushindering the global pharmaceutical inks market. Moreover, the key vendors in the global pharmaceutical inks market are focused on investing in research and development in order to innovate their product offerings and expand their customer base across the globe which can be one of the major factors boosting the growth of the global pharmaceutical inks market.
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The pharmaceutical inks have seen continuous growth in the pharmaceutical printing industry due to the continuous innovation and research and development on medicines. Pharmaceutical are introduced in different forms such as solids, liquids, and semi-solids. The pharmaceutical printing inks are mostly used in liquid pharmaceutical products that are offered in bottles which is made from plastic, glass, or other materials, which act as interior packaging. As the exterior packaging consist of large content that is printed on the outer side which leads to higher consumption of pharmaceutical inks in liquid pharmaceuticals. The information printed on the exterior packaging consist of information such as instructions, ingredients, and manufacturing details. All the pharmaceutical products are initially packaged and then content is printed on it and further it is delivered to the end users. The key players are specialized in manufacturing inks that are used for exterior packaging, interior packaging, and capsules.
Recently,FDA approved the 3D printing technology in the pharmaceutical industry that helps manufacturers in innovating their product portfolio. Also, in September 2018, Hapa, which is a subsidiary of Coesia is one of the leaders in the pharmaceutical packaging. The company has launched customized inks for medical field that is supplied directly to customers as well as OEMs. The manufacturers in this market are investing heavily on research and development in order to offer differentiated product offering to expand their customer base.
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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 into solids, 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.
The global pharmaceutical inks market consists of players such as Sun Chemicals, Videojet Technologies Inc., Koel Colours Pvt. Ltd., Markem-Imaje, Toyo Ink SC Holdings Co. Ltd. and others.The key players in the pharmaceutical inks market are mainly the local players across different regions. Therefore, the pharmaceutical inks market is highly fragmented. Also, the companies are continuously focusing on research and development in order to expand their product portfolio and increase their customer base in developing regions. The key manufacturers in the global pharmaceutical inks market are focusing mainly on deals and contracts with an aim to gain maximum share of the global market. Also, there is continuous innovation in the pharmaceutical printing industry that is expected to create lucrative growth opportunities for the prominent players in the pharmaceutical inks market.
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