The 25th International Pharmaceutical & Cosmetics Processing & Packaging Technology Exhibition
Prepare For Exciting Changes In The Pharmaceutical Industry
The global pharmaceutical market is forecasted to reach USD 1.12 trillion by 2020 with an average growth rate of 6.3% until 2022. America is leading this market growth, followed by Asia which is estimated to reach USD 285 billion in 2019. South East Asia is the frontrunner of this Asian growth, with its value estimated at USD 40 billion by 2020.
Leaders in the Asian pharmaceutical industry are Japan, China, Thailand, Indonesia and Singapore. Thailand experienced remarkable growth in 2016 with a value of USD 4.6 billion, making it the second largest market for the pharmaceutical industry behind Indonesia.
Consumer behavior in the pharmaceutical market has changed in recent years and to the pressure has increased for manufacturers to improve and invest in manufacturing and research technology that produces better products at lower manufacturing costs. PharmaTechAsia showcases new smart machinery designed to improve efficiency in manufacturing. More consumers are looking for information on side effects, as well as smaller packaging, convenience and durability when purchasing pharmaceuticals. Manufacturing technology is crucial for pharmaceutical manufacturers to get the most out of increasing opportunities. Manufacturing needs to be efficient and precise, but flexible enough for additional changes in the future. These apply to both production and research processes.