Customization is the new formula in global pharmaceutical packaging, finds Frost & Sullivan
Newer technologies will help pharmaceutical companies differentiate from competition and reduce overall packaging costs
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 proper delivery. As patent loss delivers more generics into the market, the need for packaging will steadily rise, in turn encouraging low-cost innovation in emerging markets. The demand for customization is further expected to drive the pharmaceutical packaging industry towards low-cost, sustainable and traceable packages in the future.
New analysis from Frost & Sullivan (frost.com), New Technologies that will Impact the Global Pharmaceutical Packaging Industry, finds that the United States, the European Union, and Japan account for more than 65-70 percent of the global market for pharmaceutical packaging. However, China, Brazil and India will rapidly evolve into key markets for growth and spending. Tablets and capsules will remain in demand while the use of prefilled syringes and inhalers is expected to increase owing to their ease of use and improving customization.