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Global Empty Hard Capsule Manufacturing Machines Market Size, Manufacturers, Growth Analysis Industry Forecast to 2030

April 2024 | 130 pages | ID: G166CA189938EN
APO Research

US$ 4,250.00

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This report studies the Empty Hard Capsule Manufacturing Machines market, Empty Hard Capsule Manufacturing Machines are used to produce empty hard caosules.

According to APO Research, The global Empty Hard Capsule Manufacturing Machines market is projected to grow from US$ million in 2024 to US$ million by 2030, at a Compound Annual Growth Rate (CAGR) of % during the forecast period.

Global Empty Hard Capsule Manufacturing Machines key players include Safrroys Machines, FU CHUAN DA, Erawat Engineering, Lanzhou Pingshan, etc. Global top four manufacturers hold a share about 48%.

North America is the largest market, with a share about 45%, followed by India and China, both have a share over 40 percent.

In terms of product, Hard Capsule Machine is the largest segment, with a share about 87%. And in terms of application, the largest application is Pharmaceutical, followed by Health Supplements, etc.

This report presents an overview of global market for Empty Hard Capsule Manufacturing Machines, sales, revenue and price. Analyses of the global market trends, with historic market revenue or sales data for 2019 - 2023, estimates for 2024, and projections of CAGR through 2030.

This report researches the key producers of Empty Hard Capsule Manufacturing Machines, also provides the sales of main regions and countries. Of the upcoming market potential for Empty Hard Capsule Manufacturing Machines, and key regions or countries of focus to forecast this market into various segments and sub-segments. Country specific data and market value analysis for the U.S., Canada, Mexico, Brazil, China, Japan, South Korea, Southeast Asia, India, Germany, the U.K., Italy, Middle East, Africa, and Other Countries.

This report focuses on the Empty Hard Capsule Manufacturing Machines sales, revenue, market share and industry ranking of main manufacturers, data from 2019 to 2024. Identification of the major stakeholders in the global Empty Hard Capsule Manufacturing Machines market, and analysis of their competitive landscape and market positioning based on recent developments and segmental revenues. This report will help stakeholders to understand the competitive landscape and gain more insights and position their businesses and market strategies in a better way.

This report analyzes the segments data by Type and by Application, sales, revenue, and price, from 2019 to 2030. Evaluation and forecast the market size for Empty Hard Capsule Manufacturing Machines sales, projected growth trends, production technology, application and end-user industry.

Descriptive company profiles of the major global players, including Safrroys Machines, FU CHUAN DA, Erawat Engineering, Lanzhou Pingshan and Qingdao Microstat Engineering, etc.

Empty Hard Capsule Manufacturing Machines segment by Company
  • Safrroys Machines
  • FU CHUAN DA
  • Erawat Engineering
  • Lanzhou Pingshan
  • Qingdao Microstat Engineering
Empty Hard Capsule Manufacturing Machines segment by Type
  • Hard Capsule Machine
  • Ancillary Equipment
Empty Hard Capsule Manufacturing Machines segment by Application
  • Pharmaceutical
  • Health Supplements
  • Others
Empty Hard Capsule Manufacturing Machines segment by Region
  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Russia
  • Asia-Pacific
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • China Taiwan
  • Indonesia
  • Thailand
  • Malaysia
  • Latin America
  • Mexico
  • Brazil
  • Argentina
  • Middle East & Africa
  • Turkey
  • Saudi Arabia
  • UAE
Study Objectives

1. To analyze and research the global Empty Hard Capsule Manufacturing Machines status and future forecast, involving, sales, revenue, growth rate (CAGR), market share, historical and forecast.

2. To present the key manufacturers, sales, revenue, market share, and Recent Developments.

3. To split the breakdown data by regions, type, manufacturers, and Application.

4. To analyze the global and key regions Empty Hard Capsule Manufacturing Machines market potential and advantage, opportunity and challenge, restraints, and risks.

5. To identify Empty Hard Capsule Manufacturing Machines significant trends, drivers, influence factors in global and regions.

6. To analyze Empty Hard Capsule Manufacturing Machines competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.

Reasons to Buy This Report

1. This report will help the readers to understand the competition within the industries and strategies for the competitive environment to enhance the potential profit. The report also focuses on the competitive landscape of the global Empty Hard Capsule Manufacturing Machines market, and introduces in detail the market share, industry ranking, competitor ecosystem, market performance, new product development, operation situation, expansion, and acquisition. etc. of the main players, which helps the readers to identify the main competitors and deeply understand the competition pattern of the market.

2. This report will help stakeholders to understand the global industry status and trends of Empty Hard Capsule Manufacturing Machines and provides them with information on key market drivers, restraints, challenges, and opportunities.

3. This report will help stakeholders to understand competitors better and gain more insights to strengthen their position in their businesses. The competitive landscape section includes the market share and rank (in sales and value), competitor ecosystem, new product development, expansion, and acquisition.

4. This report stays updated with novel technology integration, features, and the latest developments in the market.

5. This report helps stakeholders to gain insights into which regions to target globally.

6. This report helps stakeholders to gain insights into the end-user perception concerning the adoption of Empty Hard Capsule Manufacturing Machines.

7. This report helps stakeholders to identify some of the key players in the market and understand their valuable contribution.

Chapter Outline

Chapter 1: Provides an overview of the Empty Hard Capsule Manufacturing Machines market, including product definition, global market growth prospects, sales value, sales volume, and average price forecasts (2019-2030).

Chapter 2: Analysis key trends, drivers, challenges, and opportunities within the global Empty Hard Capsule Manufacturing Machines industry.

Chapter 3: Detailed analysis of Empty Hard Capsule Manufacturing Machines manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.

Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.

Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.

Chapter 6: Sales and value of Empty Hard Capsule Manufacturing Machines in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world.

Chapter 7: Sales and value of Empty Hard Capsule Manufacturing Machines in country level. It provides sigmate data by type, and by application for each country/region.

Chapter 8: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.

Chapter 9: Analysis of industrial chain, including the upstream and downstream of the industry.

Chapter 10: Concluding Insights.

Chapter 10: Concluding Insights.
1 MARKET OVERVIEW

1.1 Product Definition
1.2 Global Market Growth Prospects
  1.2.1 Global Empty Hard Capsule Manufacturing Machines Sales Value (2019-2030)
  1.2.2 Global Empty Hard Capsule Manufacturing Machines Sales Volume (2019-2030)
  1.2.3 Global Empty Hard Capsule Manufacturing Machines Sales Average Price (2019-2030)
1.3 Assumptions and Limitations
1.4 Study Goals and Objectives

2 EMPTY HARD CAPSULE MANUFACTURING MACHINES MARKET DYNAMICS

2.1 Empty Hard Capsule Manufacturing Machines Industry Trends
2.2 Empty Hard Capsule Manufacturing Machines Industry Drivers
2.3 Empty Hard Capsule Manufacturing Machines Industry Opportunities and Challenges
2.4 Empty Hard Capsule Manufacturing Machines Industry Restraints

3 EMPTY HARD CAPSULE MANUFACTURING MACHINES MARKET BY COMPANY

3.1 Global Empty Hard Capsule Manufacturing Machines Company Revenue Ranking in 2023
3.2 Global Empty Hard Capsule Manufacturing Machines Revenue by Company (2019-2024)
3.3 Global Empty Hard Capsule Manufacturing Machines Sales Volume by Company (2019-2024)
3.4 Global Empty Hard Capsule Manufacturing Machines Average Price by Company (2019-2024)
3.5 Global Empty Hard Capsule Manufacturing Machines Company Ranking, 2022 VS 2023 VS 2024
3.6 Global Empty Hard Capsule Manufacturing Machines Company Manufacturing Base & Headquarters
3.7 Global Empty Hard Capsule Manufacturing Machines Company, Product Type & Application
3.8 Global Empty Hard Capsule Manufacturing Machines Company Commercialization Time
3.9 Market Competitive Analysis
  3.9.1 Global Empty Hard Capsule Manufacturing Machines Market CR5 and HHI
  3.9.2 Global Top 5 and 10 Company Market Share by Revenue in 2023
  3.9.3 2023 Empty Hard Capsule Manufacturing Machines Tier 1, Tier 2, and Tier
3.10 Mergers & Acquisitions, Expansion

4 EMPTY HARD CAPSULE MANUFACTURING MACHINES MARKET BY TYPE

4.1 Empty Hard Capsule Manufacturing Machines Type Introduction
  4.1.1 Hard Capsule Machine
  4.1.2 Ancillary Equipment
4.2 Global Empty Hard Capsule Manufacturing Machines Sales Volume by Type
  4.2.1 Global Empty Hard Capsule Manufacturing Machines Sales Volume by Type (2019 VS 2023 VS 2030)
  4.2.2 Global Empty Hard Capsule Manufacturing Machines Sales Volume by Type (2019-2030)
  4.2.3 Global Empty Hard Capsule Manufacturing Machines Sales Volume Share by Type (2019-2030)
4.3 Global Empty Hard Capsule Manufacturing Machines Sales Value by Type
  4.3.1 Global Empty Hard Capsule Manufacturing Machines Sales Value by Type (2019 VS 2023 VS 2030)
  4.3.2 Global Empty Hard Capsule Manufacturing Machines Sales Value by Type (2019-2030)
  4.3.3 Global Empty Hard Capsule Manufacturing Machines Sales Value Share by Type (2019-2030)

5 EMPTY HARD CAPSULE MANUFACTURING MACHINES MARKET BY APPLICATION

5.1 Empty Hard Capsule Manufacturing Machines Application Introduction
  5.1.1 Pharmaceutical
  5.1.2 Health Supplements
  5.1.3 Others
5.2 Global Empty Hard Capsule Manufacturing Machines Sales Volume by Application
  5.2.1 Global Empty Hard Capsule Manufacturing Machines Sales Volume by Application (2019 VS 2023 VS 2030)
  5.2.2 Global Empty Hard Capsule Manufacturing Machines Sales Volume by Application (2019-2030)
  5.2.3 Global Empty Hard Capsule Manufacturing Machines Sales Volume Share by Application (2019-2030)
5.3 Global Empty Hard Capsule Manufacturing Machines Sales Value by Application
  5.3.1 Global Empty Hard Capsule Manufacturing Machines Sales Value by Application (2019 VS 2023 VS 2030)
  5.3.2 Global Empty Hard Capsule Manufacturing Machines Sales Value by Application (2019-2030)
  5.3.3 Global Empty Hard Capsule Manufacturing Machines Sales Value Share by Application (2019-2030)

6 EMPTY HARD CAPSULE MANUFACTURING MACHINES MARKET BY REGION

6.1 Global Empty Hard Capsule Manufacturing Machines Sales by Region: 2019 VS 2023 VS 2030
6.2 Global Empty Hard Capsule Manufacturing Machines Sales by Region (2019-2030)
  6.2.1 Global Empty Hard Capsule Manufacturing Machines Sales by Region: 2019-2024
  6.2.2 Global Empty Hard Capsule Manufacturing Machines Sales by Region (2025-2030)
6.3 Global Empty Hard Capsule Manufacturing Machines Sales Value by Region: 2019 VS 2023 VS 2030
6.4 Global Empty Hard Capsule Manufacturing Machines Sales Value by Region (2019-2030)
  6.4.1 Global Empty Hard Capsule Manufacturing Machines Sales Value by Region: 2019-2024
  6.4.2 Global Empty Hard Capsule Manufacturing Machines Sales Value by Region (2025-2030)
6.5 Global Empty Hard Capsule Manufacturing Machines Market Price Analysis by Region (2019-2024)
6.6 North America
  6.6.1 North America Empty Hard Capsule Manufacturing Machines Sales Value (2019-2030)
  6.6.2 North America Empty Hard Capsule Manufacturing Machines Sales Value Share by Country, 2023 VS 2030
6.7 Europe
  6.7.1 Europe Empty Hard Capsule Manufacturing Machines Sales Value (2019-2030)
  6.7.2 Europe Empty Hard Capsule Manufacturing Machines Sales Value Share by Country, 2023 VS 2030
6.8 Asia-Pacific
  6.8.1 Asia-Pacific Empty Hard Capsule Manufacturing Machines Sales Value (2019-2030)
  6.8.2 Asia-Pacific Empty Hard Capsule Manufacturing Machines Sales Value Share by Country, 2023 VS 2030
6.9 Latin America
  6.9.1 Latin America Empty Hard Capsule Manufacturing Machines Sales Value (2019-2030)
  6.9.2 Latin America Empty Hard Capsule Manufacturing Machines Sales Value Share by Country, 2023 VS 2030
6.10 Middle East & Africa
  6.10.1 Middle East & Africa Empty Hard Capsule Manufacturing Machines Sales Value (2019-2030)
  6.10.2 Middle East & Africa Empty Hard Capsule Manufacturing Machines Sales Value Share by Country, 2023 VS 2030

7 EMPTY HARD CAPSULE MANUFACTURING MACHINES MARKET BY COUNTRY

7.1 Global Empty Hard Capsule Manufacturing Machines Sales by Country: 2019 VS 2023 VS 2030
7.2 Global Empty Hard Capsule Manufacturing Machines Sales Value by Country: 2019 VS 2023 VS 2030
7.3 Global Empty Hard Capsule Manufacturing Machines Sales by Country (2019-2030)
  7.3.1 Global Empty Hard Capsule Manufacturing Machines Sales by Country (2019-2024)
  7.3.2 Global Empty Hard Capsule Manufacturing Machines Sales by Country (2025-2030)
7.4 Global Empty Hard Capsule Manufacturing Machines Sales Value by Country (2019-2030)
  7.4.1 Global Empty Hard Capsule Manufacturing Machines Sales Value by Country (2019-2024)
  7.4.2 Global Empty Hard Capsule Manufacturing Machines Sales Value by Country (2025-2030)
7.5 USA
  7.5.1 Global Empty Hard Capsule Manufacturing Machines Sales Value Growth Rate (2019-2030)
  7.5.2 Global Empty Hard Capsule Manufacturing Machines Sales Value Share by Type, 2023 VS 2030
  7.5.3 Global Empty Hard Capsule Manufacturing Machines Sales Value Share by Application, 2023 VS 2030
7.6 Canada
  7.6.1 Global Empty Hard Capsule Manufacturing Machines Sales Value Growth Rate (2019-2030)
  7.6.2 Global Empty Hard Capsule Manufacturing Machines Sales Value Share by Type, 2023 VS 2030
  7.6.3 Global Empty Hard Capsule Manufacturing Machines Sales Value Share by Application, 2023 VS 2030
7.7 Germany
  7.7.1 Global Empty Hard Capsule Manufacturing Machines Sales Value Growth Rate (2019-2030)
  7.7.2 Global Empty Hard Capsule Manufacturing Machines Sales Value Share by Type, 2023 VS 2030
  7.7.3 Global Empty Hard Capsule Manufacturing Machines Sales Value Share by Application, 2023 VS 2030
7.8 France
  7.8.1 Global Empty Hard Capsule Manufacturing Machines Sales Value Growth Rate (2019-2030)
  7.8.2 Global Empty Hard Capsule Manufacturing Machines Sales Value Share by Type, 2023 VS 2030
  7.8.3 Global Empty Hard Capsule Manufacturing Machines Sales Value Share by Application, 2023 VS 2030
7.9 U.K.
  7.9.1 Global Empty Hard Capsule Manufacturing Machines Sales Value Growth Rate (2019-2030)
  7.9.2 Global Empty Hard Capsule Manufacturing Machines Sales Value Share by Type, 2023 VS 2030
  7.9.3 Global Empty Hard Capsule Manufacturing Machines Sales Value Share by Application, 2023 VS 2030
7.10 Italy
  7.10.1 Global Empty Hard Capsule Manufacturing Machines Sales Value Growth Rate (2019-2030)
  7.10.2 Global Empty Hard Capsule Manufacturing Machines Sales Value Share by Type, 2023 VS 2030
  7.10.3 Global Empty Hard Capsule Manufacturing Machines Sales Value Share by Application, 2023 VS 2030
7.11 Netherlands
  7.11.1 Global Empty Hard Capsule Manufacturing Machines Sales Value Growth Rate (2019-2030)
  7.11.2 Global Empty Hard Capsule Manufacturing Machines Sales Value Share by Type, 2023 VS 2030
  7.11.3 Global Empty Hard Capsule Manufacturing Machines Sales Value Share by Application, 2023 VS 2030
7.12 Nordic Countries
  7.12.1 Global Empty Hard Capsule Manufacturing Machines Sales Value Growth Rate (2019-2030)
  7.12.2 Global Empty Hard Capsule Manufacturing Machines Sales Value Share by Type, 2023 VS 2030
  7.12.3 Global Empty Hard Capsule Manufacturing Machines Sales Value Share by Application, 2023 VS 2030
7.13 China
  7.13.1 Global Empty Hard Capsule Manufacturing Machines Sales Value Growth Rate (2019-2030)
  7.13.2 Global Empty Hard Capsule Manufacturing Machines Sales Value Share by Type, 2023 VS 2030
  7.13.3 Global Empty Hard Capsule Manufacturing Machines Sales Value Share by Application, 2023 VS 2030
7.14 Japan
  7.14.1 Global Empty Hard Capsule Manufacturing Machines Sales Value Growth Rate (2019-2030)
  7.14.2 Global Empty Hard Capsule Manufacturing Machines Sales Value Share by Type, 2023 VS 2030
  7.14.3 Global Empty Hard Capsule Manufacturing Machines Sales Value Share by Application, 2023 VS 2030
7.15 South Korea
  7.15.1 Global Empty Hard Capsule Manufacturing Machines Sales Value Growth Rate (2019-2030)
  7.15.2 Global Empty Hard Capsule Manufacturing Machines Sales Value Share by Type, 2023 VS 2030
  7.15.3 Global Empty Hard Capsule Manufacturing Machines Sales Value Share by Application, 2023 VS 2030
7.16 Southeast Asia
  7.16.1 Global Empty Hard Capsule Manufacturing Machines Sales Value Growth Rate (2019-2030)
  7.16.2 Global Empty Hard Capsule Manufacturing Machines Sales Value Share by Type, 2023 VS 2030
  7.16.3 Global Empty Hard Capsule Manufacturing Machines Sales Value Share by Application, 2023 VS 2030
7.17 India
  7.17.1 Global Empty Hard Capsule Manufacturing Machines Sales Value Growth Rate (2019-2030)
  7.17.2 Global Empty Hard Capsule Manufacturing Machines Sales Value Share by Type, 2023 VS 2030
  7.17.3 Global Empty Hard Capsule Manufacturing Machines Sales Value Share by Application, 2023 VS 2030
7.18 Australia
  7.18.1 Global Empty Hard Capsule Manufacturing Machines Sales Value Growth Rate (2019-2030)
  7.18.2 Global Empty Hard Capsule Manufacturing Machines Sales Value Share by Type, 2023 VS 2030
  7.18.3 Global Empty Hard Capsule Manufacturing Machines Sales Value Share by Application, 2023 VS 2030
7.19 Mexico
  7.19.1 Global Empty Hard Capsule Manufacturing Machines Sales Value Growth Rate (2019-2030)
  7.19.2 Global Empty Hard Capsule Manufacturing Machines Sales Value Share by Type, 2023 VS 2030
  7.19.3 Global Empty Hard Capsule Manufacturing Machines Sales Value Share by Application, 2023 VS 2030
7.20 Brazil
  7.20.1 Global Empty Hard Capsule Manufacturing Machines Sales Value Growth Rate (2019-2030)
  7.20.2 Global Empty Hard Capsule Manufacturing Machines Sales Value Share by Type, 2023 VS 2030
  7.20.3 Global Empty Hard Capsule Manufacturing Machines Sales Value Share by Application, 2023 VS 2030
7.21 Turkey
  7.21.1 Global Empty Hard Capsule Manufacturing Machines Sales Value Growth Rate (2019-2030)
  7.21.2 Global Empty Hard Capsule Manufacturing Machines Sales Value Share by Type, 2023 VS 2030
  7.21.3 Global Empty Hard Capsule Manufacturing Machines Sales Value Share by Application, 2023 VS 2030
7.22 Saudi Arabia
  7.22.1 Global Empty Hard Capsule Manufacturing Machines Sales Value Growth Rate (2019-2030)
  7.22.2 Global Empty Hard Capsule Manufacturing Machines Sales Value Share by Type, 2023 VS 2030
  7.22.3 Global Empty Hard Capsule Manufacturing Machines Sales Value Share by Application, 2023 VS 2030
7.23 UAE
  7.23.1 Global Empty Hard Capsule Manufacturing Machines Sales Value Growth Rate (2019-2030)
  7.23.2 Global Empty Hard Capsule Manufacturing Machines Sales Value Share by Type, 2023 VS 2030
  7.23.3 Global Empty Hard Capsule Manufacturing Machines Sales Value Share by Application, 2023 VS 2030

8 COMPANY PROFILES

8.1 Safrroys Machines
  8.1.1 Safrroys Machines Comapny Information
  8.1.2 Safrroys Machines Business Overview
  8.1.3 Safrroys Machines Empty Hard Capsule Manufacturing Machines Sales, Value and Gross Margin (2019-2024)
  8.1.4 Safrroys Machines Empty Hard Capsule Manufacturing Machines Product Portfolio
  8.1.5 Safrroys Machines Recent Developments
8.2 FU CHUAN DA
  8.2.1 FU CHUAN DA Comapny Information
  8.2.2 FU CHUAN DA Business Overview
  8.2.3 FU CHUAN DA Empty Hard Capsule Manufacturing Machines Sales, Value and Gross Margin (2019-2024)
  8.2.4 FU CHUAN DA Empty Hard Capsule Manufacturing Machines Product Portfolio
  8.2.5 FU CHUAN DA Recent Developments
8.3 Erawat Engineering
  8.3.1 Erawat Engineering Comapny Information
  8.3.2 Erawat Engineering Business Overview
  8.3.3 Erawat Engineering Empty Hard Capsule Manufacturing Machines Sales, Value and Gross Margin (2019-2024)
  8.3.4 Erawat Engineering Empty Hard Capsule Manufacturing Machines Product Portfolio
  8.3.5 Erawat Engineering Recent Developments
8.4 Lanzhou Pingshan
  8.4.1 Lanzhou Pingshan Comapny Information
  8.4.2 Lanzhou Pingshan Business Overview
  8.4.3 Lanzhou Pingshan Empty Hard Capsule Manufacturing Machines Sales, Value and Gross Margin (2019-2024)
  8.4.4 Lanzhou Pingshan Empty Hard Capsule Manufacturing Machines Product Portfolio
  8.4.5 Lanzhou Pingshan Recent Developments
8.5 Qingdao Microstat Engineering
  8.5.1 Qingdao Microstat Engineering Comapny Information
  8.5.2 Qingdao Microstat Engineering Business Overview
  8.5.3 Qingdao Microstat Engineering Empty Hard Capsule Manufacturing Machines Sales, Value and Gross Margin (2019-2024)
  8.5.4 Qingdao Microstat Engineering Empty Hard Capsule Manufacturing Machines Product Portfolio
  8.5.5 Qingdao Microstat Engineering Recent Developments

9 VALUE CHAIN AND SALES CHANNELS ANALYSIS

9.1 Empty Hard Capsule Manufacturing Machines Value Chain Analysis
  9.1.1 Empty Hard Capsule Manufacturing Machines Key Raw Materials
  9.1.2 Raw Materials Key Suppliers
  9.1.3 Manufacturing Cost Structure
  9.1.4 Empty Hard Capsule Manufacturing Machines Sales Mode & Process
9.2 Empty Hard Capsule Manufacturing Machines Sales Channels Analysis
  9.2.1 Direct Comparison with Distribution Share
  9.2.2 Empty Hard Capsule Manufacturing Machines Distributors
  9.2.3 Empty Hard Capsule Manufacturing Machines Customers

10 CONCLUDING INSIGHTS

11 APPENDIX

11.1 Reasons for Doing This Study
11.2 Research Methodology
11.3 Research Process
11.4 Authors List of This Report
11.5 Data Source
  11.5.1 Secondary Sources
  11.5.2 Primary Sources
11.6 Disclaimer


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