Global Dispensing Pharmacy Packaging Machine Market Size 2024, Forecast To 2033

The dispensing pharmacy packaging machine market size has grown strongly in recent years. It will grow from $2.03 billion in 2023 to $2.21 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to increase in pharmaceutical r&d expenditure, increased healthcare expenditure, rise in disposable income, growing penetration of retail pharmacies, emerging markets growth and increasing population. The dispensing pharmacy packaging machine market size is expected to see strong growth in the next few years. It will grow to $3.18 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The growth in the forecast period can be attributed to faster economic growth, growth of pharmaceutical manufacturing, rise in ageing population and increasing government initiatives. Major trends in the forecast period include increasing research and development activities, product innovation, new technology development, mergers and acquisitions, partnerships and collaborations and increasing investments.