New Technologies that will Impact the Global Pharmaceutical Packaging Industry
The pharmaceutical industry is undergoing a rapid transition, from being a supply-driven industry to a demand and service-driven one in 2014. Manufacturing efficiency and responsiveness are likely to play a major role in driving growth in the future.
Distribution of pharmaceutical products has become more global than ever. Mass customisation of packaging to permit its use in multiple markets is the industry’s current area of focus. The distribution of pharmaceutical products is currently driven by environmental issues, including sustainability, pricing, quality assurance (QA), and customisation, and is likely to continue that way in the future.
In 2015, the packaging industry will be ready to witness technologies that remind patients to take their medication and enable doctors to remotely monitor the proper use of medicines that were prescribed. Smart labels are ready for mass production (US Patent July 2014). Though awareness is low and adoption is slow, the market will witness changes due to the introduction of smart tags.
Smart tags are expected to check and track drug packages and help manufacturers in keeping supply chains on surveillance.
Under the sub-segments, prefilled syringes are expected to be the fastest growing aseptic packaging type. The demand is expected to grow at an estimated % each year in major markets such as the United States (US) and the European Union (EU).
Due to the health issues involved, a few governments have started considering a ban on the usage of PET packages for liquid drug formulations (as of September 2014, India).
About this report
The packaging industry plays a major role in the pharmaceutical market. It not only provides containment and drug safety, but also ensures identity, convenience of handling, and delivery. It needs to balance complex considerations. Pharmaceutical packaging firms are some of the industry’s most innovative companies, as has been evident in the last 10 years. Packaging is a science and has been continuously evolving. In 2014, the pharmaceutical industry has had a variety to choose from (including the prototypes). Europe and other developed markets have become increasingly vigilant in tracking pharmaceutical packaging and stopping drug counterfeit. By 2017, serialisation of drug packages will be mandatory for all manufacturers. Under these circumstances, drug manufacturers have limited or no choice but to comply with the new norms if they want to continue operating in these markets. Pharmaceutical packaging plays an important role in saving costs. By using the latest technologies, drug manufacturers can switch from their existing packaging forms to more innovative designs without spending too much money on R&D. Packaging firms have been always the greatest supporters of the pharmaceutical industry and play a major role in reducing costs. Amcor, CCL Industries, Schott, and MeadWestvaco are some of the major names in the pharmaceutical packaging industry. These firms have been responsible for introducing innovations in pharmaceutical packaging. Some of the ready-for-use prototypes are expected to create a major change in the way drugs will be packaged going forward. The report focuses on important aspects such as, “Which are the key companies and regulations to focus on during 2014-2015?”, and “What are the new technologies that can help the pharmaceutical companies gain an edge over their competitors and reduce cost of packaging”? Frost and Sullivan has been tracking the pharmaceutical industry for more than three decades. This research service will essentially help pharmaceutical manufacturers who are looking at innovations as well as cost cutting methods and want to prepare themselves for the European Union regulations that will impact them from 2017.
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