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(Medical-NewsWire.com, October 09, 2018 ) Pharmaceutical packaging equipment provides quality and packaging safety for pharmaceutical products. This packaging equipment is flexible, automated and modern, which is integrated to meet the requirements of pharmaceutical products. Pharmaceutical packaging the equipment is classified into two types, namely primary and secondary packaging. These equipment is used to package liquid, solid and semi-solid products. Pharmacist The packaging is made of glass, plastic, paper, metal and other raw materials.
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Asia Pacific Pharmaceutical Packaging Equipment Market size was around USD 1.75 billion in 2018. It is expected to grow at a CAGR of 6.9% to reach USD 2.4 billion by 2023.
Drivers and Restraints:
Growing awareness about the quality and safety of pharmaceutical medications, rising pressure on pharmaceutical companies from consumers, investors, regulators, and governments, and increasing prevalence of chronic diseases. In addition, increasing investments for R&D activities, introduction of eco-friendly and reusable packaging, and technological development in pharmaceutical packaging solutions are expected to drive the market growth. However, stringent government policies, and high competition are expected to hinder the growth rate for Europe Pharmaceutical Packaging Equipment Market during the forecast period.
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The Asia Pacific Pharmaceutical Packaging Equipment Market has geographically segmented into China, India, Japan, South Korea, and Australia. This region is one of the most lucrative markets for Pharmaceutical Packaging Equipment market and is projected to have the highest CAGR when compared to other regions of the world in this period. The economy of many countries in this area is developing and this is fuelling the market growth in this region.
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Major companies in the market are Robert Bosch GmbH (Germany), Corer AG (Germany), Marchesini Group S.p.A. (Italy), Multivac Group (Germany), Uhlmann Group (Germany), OPTIMA Packaging Group GmbH (Germany), and Romaco Pharmatechnik GmbH (Germany).
Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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