Baby Boomers living longer than previous generations, coupled with the increase in healthcare options and affordability in emerging economies around the world, are contributing to the increasing demand for disposable instruments in the healthcare industry. As a result, expectations are such that the demand for vials and prefilled syringes and ampoules will go up, which will positively affect and stimulate growth in the aseptic packaging market, according to a forecast from Converged Markets.1
The pharmaceutical sector is expected to contribute to the growth of aseptic packaging in developing regions where the presence of pharmaceutical companies is also expected to grow. Most of the growth is coming from 21 countries the pharmaceutical industry labels “pharmerging.” (The pharmerging countries include China, Brazil, Russia, India, Algeria, Argentina, Colombia, Bangladesh, Indonesia, Mexico, Nigeria, Pakistan, Poland, Saudi Arabia, South Africa, Philippines, Turkey, Romania, Chile, Kazakhstan and Vietnam.)
The report projects a nearly 10% CAGR in prefilled syringes through 2025, explaining that aseptic technology in the pharmaceutical sector has helped improve safety standards and logistical support. Prefilled syringes are also evidence of the expanding self-administered medicine market. By providing for self-administered medicine, aseptic packaging allows life-saving product to make its way to underdeveloped areas of the world where drug application often occurs without medical training or significant experience. Aseptic packaging manufacturers must ensure the absolute quality of their solutions in these type of operations as demand continues to grow in areas without traditional hospitals or clinics. The format also reduces drug waste by pharmaceutical manufacturers by ensuring accurate doses.
Another key driver in this area beyond self-administered injectable medicine is the increased use of biotechnology-based drugs. Often, bio-based options cannot withstand the high temperatures required for sterilization, making them ideal for aseptic packaging.
When it comes to food, the aseptic packaging market continues to mirror consumer demand for convenience and ready-to-eat products.
Emerging countries are also expected to contribute to aseptic packaging growth in the food sector as people in countries that once frowned upon or could not afford packaged meals are becoming more acceptable of ready-to-eat meals, processed or packaged food, etc.
As a whole, the aseptic packaging market size is projected to reach USD 76.8 billion by 2025, at a CAGR of 8.5% from 2018 to 2025. No event located in the pharmaceutical and consumer packaged goods dense Northeast U.S. will offer more targeted aseptic packaging solutions in 2020 than PACK EXPO East (March 3-5, 2020, Pennsylvania Convention Center, Philadelphia).
The number one reason reported for not diving into the aseptic packaging market is the research & development cost and high initial capital investment that accompanies installing new packaging equipment and innovative packaging technology. PACK EXPO East offers attendees an opportunity to talk with more than 400 suppliers about their challenges. The targeted venue encourages partnerships to work out potential solutions. Innovation Stage seminars and small group discussions in The Forum also provide free education to attendees.
For more information and to register, visit packexpoeast.com.