Market Size of Asia-Pacific Pharmaceutical Packaging Machinery Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 7.50 % |
| Market Concentration | Medium |
Major Players.webp)
*Disclaimer: Major Players sorted in no particular order |
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APAC Pharmaceutical Packaging Machinery Market Analysis
The Asia-Pacific pharmaceutical packaging machinery market is expected to register a CAGR of 7.5% during the forecast period (2022 - 2027).
- Packaging pharmaceutical products and drug delivery systems are essential in the pharmaceutical industry. Pharmaceutical packaging machinery provides safety and quality in packaging pharmaceutical products.
- Pharmaceutical packaging refers to packaging products made by utilizing compatible materials that are used for the storage and transfer of drugs. Depending on the nature of the drug, packaging products are selected from a range of product types and material types to provide identification and protection and ensure the enclosed drug product's integrity. Thus, pharmaceutical packaging machinery offers primary packaging, secondary packaging, and labeling and serialization solutions for pharmaceuticals.
- The emergence of the COVID-19 pandemic has significantly impacted the market due to disruptions in the supply chain owing to extended factory closures and delayed production.
- The demand for pharmaceutical packaging machinery will increase over the next two to three years. During COVID-19, the vaccine suppliers have expanded their capacity to meet the rising demand. This scenario is expected to create new growth opportunities in the pharmaceutical packaging machinery market.
- The pharmaceutical packaging machinery market has a direct correlation with the pharmaceutical market. Any changes in demand for pharmaceutical drugs will positively impact the packaging machinery markets, as higher demand for new drugs leads to a greater need for packaging, thereby impacting the growth of the studied market.
