Pharmaceutical Processing & Packaging Equipment Market to See 8.5% CAGR to 2022, Says Meticulous Research in Report Available at MarketPublishers.com28 Jul 2017 • by Natalie Aster
LONDON – The expanding usage of generic and OTC medication not only spurred the demand for pharmaceutical processing and packaging equipment, but also encouraged improvements in the pharma production sector in the era of automation. The major growth drivers of the world’s pharmaceutical processing and packaging equipment market comprise aging global population, uptake in chronic and infectious diseases prevalence, increase in the pharmaceuticals market, escalating need to comply with different government norms, technological advancements, amid others. However, this market also faces some challenges, for instance, rising adoption of refurbished machines.
During 2017-2022, the worldwide market for pharmaceutical processing and packaging equipment will likely gain traction at a healthy rate, registering an 8.5% CAGR. By the end of the projected period, this market is set to cross USD 25.01 billion in value terms.
The North American region captured the major chunk of the overall pharmaceutical processing and packaging equipment market as of 2016; it was followed by Europe and APAC. However, the highest growth rates through 2022 are predicted to be registered in the APAC regional market for pharmaceutical processing and packaging equipment; this is attributed to rapidly increasing population (especialy in India and China), constantly improving healthcare infrastructure, enhancing healthcare awareness amid the local population and also growing pharmaceutical manufacturing capabilities in the region.
The cutting-edge research study “Pharmaceutical Processing & Packaging Equipment Market: Global Opportunity Analysis and Industry Forecasts to 2022” made up by Meticulous Market Research delves deep into the market scenario and dynamics at various geographical levels. It describes the situation across the main market segments, uncovers info on the major forces shaping the market, sheds light on the prominent development trends and identifies the most lucrative growth opportunities and areas. Besides, the report covers the main market threats and challenges, touches upon the competitive landscape, reviews the established market players, provides a future outlook through 2022, etc.
A full collection of the publisher’s insightful research reports is provided at the Meticulous Market Research page at MarketPublishers.com.