In 2022, the MEA Pharmaceutical Packaging Equipment Market was estimated to be worth USD 0.36 billion, and it is anticipated to reach USD 0.46 billion by 2027, with an increasing CAGR of 4.99 percent.
Pharmaceutical packaging equipment involves doing many tasks like fabrication, cleaning, filling, sealing, and labeling. They play an immense role in packaging drugs, which helps prevent contaminations and promotes a long shelf life.
The increase in the pharmaceutical packaging equipment in the market is due to the rise in the population with an increase in the prevalence of chronic disease, which is majorly increasing the demand for generic drugs driving the MEA pharmaceutical packaging equipment market. In addition, an increase in the technological advancements for developing innovative and effective products, rising awareness among people about pre-diagnosing for the disease effects and the preventive measures, and growing health care concerns with treatments available in the market helps propel the growth in the market.
Furthermore, increase in investments and funding from government and non-government organizations for manufacturing drugs and treatment as well as innovative products for treating illness, increasing initiatives for developing medical and health care infrastructure in the region with an increase in screening tests and diagnostic procedures for detecting disease are uplifting the growth in the market.
However, the increase in the high costs of instruments and devices is limiting the market growth of the Middle East & Africa pharmaceutical packaging equipment market. In addition, the strict government rules and regulations for introducing new products in the market and stringent approval processes for approving products are very tedious and consume lots of time, which hamper the growth of the market. On the other hand, the increasing costs of installing and maintenance of the devices as well as increase in competition between the players for introducing new and innovative products in the market restraints the growth of MEA pharmaceutical packaging equipment in the market; also, there is no well- established regulatory framework and no specific standards for the companies, therefore, the products may vary in quality and safety which also affects the growth of the market.
This research report on the MEA pharmaceutical packaging equipment market has been segmented and sub-segmented into the following categories:
By Product Type:
Geographically, the Middle East and Africa pharmaceutical packaging equipment market are expected to hold a substantial share globally during the forecast period. The market growth in the region is expected to be driven by the rising population in the region, growing healthcare concerns among the people associated with illness and diseases. As a result, the significant growth contributors in the region are South Africa, UAE, and Saudi Arabia.
UAE held a significant share in the MEA pharmaceutical packaging equipment market. An increase in chronic diseases among people in recent years has triggered the market growth of pharmaceutical packaging equipment. On the other hand, an increase in the growing concerns with the increase in advancements in the technology and growing initiatives for developing advanced health care infrastructure contribute to the market growth in the country.
The pharmaceutical packaging equipment market in South Africa is also expected to hold a considerable share in MEA during the forecast period. The market growth is fuelled by increased investment from government and non-government organizations in research and development activities for introducing new effective drugs for treating patients, increasing the demand for pharmaceutical packaging equipment.
KEY MARKET PARTICIPANTS:
Some of the noteworthy players in the MEA pharmaceutical packaging equipment market profiled in this report are Körber (Germany), MG2 (Italy), Uhlmann Group (Germany), Robert Bosch (Germany), IMA (Italy), Marchesini Group (Italy), Accutek Packaging Equipment Companies (US), Vanguard Pharmaceuticals Machinery (US), Romaco Holding (Germany), ACG Worldwide (India), Coesia (Italy), Bausch + Ströbel (Germany), OPTIMA Packaging Group (Germany) and MULTIVAC Group (Germany).
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