The Indian coding and marking systems market are predicted to grow at 8.9% CAGR during the forecast period (2019–2024) to reach USD 499.3 million by 2024. The Indian market is primarily driven by the extensive growth in the manufacturing sector, packaging industry, pharmaceutical industry, and increasing need for product authentication and brand protection.
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The increasing manufacturing sector, pharmaceutical sector, food and beverages industry, increasing need for product authentication and brand protection, and increasing packaging industry are the major factor contributing towards the growth of the Indian coding and marking systems market. Government of India is making strict norms for the manufacturer to show the product-related details on the packaging, such as price, manufacturing and expiry dates, batch number, ingredient related information, and other related information, for the end users. Coding and marking help in the identification and tracking of product, thus, in turn, increase the growth of the Indian coding and marking systems market.
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Domino Printing Sciences Plc, Videojet Technologies Inc. (subsidiary of Danaher Corporation), MarkemImaje S.A. (subsidiary of Dover Corporation), and Control Print Limited, having a combined market share of 80.0% – 90.0% in the Indian coding and marking systems market.
Some of the major players operating in the Indian coding and marking systems market are Danaher Corporation, Dover Corporation, Domino Printing Sciences plc, Control Print Limited, and Hitachi Ltd.
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