
Report ID: SQMIG15G2024
Skyquest Technology's expert advisors have carried out comprehensive global market analysis on the packaging automation market, covering regional industry trends and market insights. Our team of analysts have conducted in-depth primary and secondary research to provide regional industry analysis and forecast of packaging automation market across North America, South America, Europe, Asia, the Middle East, and Africa.
All through the forecast period, North America is expected to dominate the market. Because there are already so many leading pharmaceutical businesses on the market, drug development and genomics are receiving a lot of attention and funding. In the United States, there is almost a third of the global biopharmaceutical market. According to the Pharmaceutical Research and Manufacturers Association, US corporations invest $75 billion annually in pharmaceutical R&D, or half of all such investment worldwide (PhRMA). Additionally, the domestic barriers to entry into the pharmaceutical market in the United States are some of the lowest in the world, making it one of the most favorable domestic environments for pharmaceutical R&D and commercialization.
The packaging automation market in Asia Pacific is anticipated to grow at the fastest CAGR over the forecast period. APAC's market growth is primarily being driven by rising labor costs, increased quality demand, labor unrest in some countries that has prompted a push for packaging automation, as well as investments made by international companies in the personal care, pharmaceutical, and food and beverage sectors. APAC market growth is further aided by the technological revolution occurring in countries such as China, Japan, India, and South Korea.
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Report ID: SQMIG15G2024
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