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The Global Pharmaceutical Processing and Packaging Equipment market accounted for $17.19 billion in 2019 and is expected to reach $26.99 billion by 2027 growing at a CAGR of 5.8% during the forecast period.
Some of the key factors propelling the growth of the market are growing geriatric population, technological advancement and increasing prevalence of chronic diseases. However, growing demand for refurbished products is the restraining factors for the growth of the market.
The equipment used for the processing and packaging of various pharmaceutical products is known as pharmaceutical processing and packaging equipment. It is of high importance as pharmaceutical products should be packaged carefully and efficiently so that physicians and patients can use it conveniently.