Increased government regulations, rising consumer demand and personalized care are among the top five reasons for growth in the pharmaceutical and medical device industry as highlighted in the latest infographic from PMMI, The Association for Packaging and Processing Technologies.
With the third installment of PACK EXPO East (April 16-18, 2018; Pennsylvania Convention Center, Philadelphia) just a few months away, show organizer PMMI released the 2017 Pharmaceutical and Medical Device White Paper and accompanying infographic exploring the top five forces shaping this important market.
The top five trends influencing growth in the market are:
- Increasing government regulations
- Rising consumer demand
- Personalized care
- Increased use of outside contracting services
- Collaboration between medical device and pharmaceutical manufacturers
“With the overlap in pharmaceutical products and medical device technologies and about half of all manufacturers in both industries turning to contract services, now is the time to invest in new solutions to improve operations and to keep up with the new direction the industry is taking,” says Paula Feldman, director, Business Intelligence, PMMI. “With two out of three companies predicting an increase in capital equipment, the U.S. remains the largest market for pharmaceuticals and medical devices and there are great opportunities for OEMs in both segments.”
For more detailed information on the top five trends influencing the growth of the pharmaceutical and medical device industry, download PMMI’s 2017 Pharmaceutical and Medical Device White Paper and be sure to check out the infographic below.
With one-third of the nation’s consumer packaged goods companies and a significant number of major pharmaceutical manufacturers located within 200 miles of Philadelphia, PMMI is expecting PACK EXPO East 2018 to be another top-tier event for the growing industry. The three-day event spans 100,000 net square feet and features 400 exhibiting suppliers of packaging innovations for Pharmaceutical/Medical Device, Food, Beverage, Cosmetic/Personal Care, Chemical/Household and other packaged goods that serve companies of all sizes and is a valuable opportunity to see the latest packaging technologies. Find out more about PACK EXPO East at packexpoeast.com.