According to recent research, the global pharmaceutical packaging market is forecasted to reach more than US$80 billion in revenue by 2020.
This expanding market is advancing towards optimization in regards to effectiveness. However, as noted in recent research, this wasn’t always the case: “Packaging was considered as an afterthought which was required merely in the final stages of manufacturing for many pharmaceutical companies about a decade ago. But of late, pharmaceutical packaging has quickly become an essential part of the drug delivery system..” (1)
Off-patenting drugs, the growing generics industry and the progression seen within manufacturing are all expected to fuel the advancement of the packaging market.
The pharmaceutical packaging and labelling market is predicted to feel a boost from the maturation of the biologic smarket and its new therapies with pre-filled syringes and parenteral vials forecasted to experience the fastest growth.
Asia and Europe follow North America - the biggest market for packaging and labelling equipment and machinery. This is due to strong awareness and healthcare investment within the US. (2) Rising contract manufacturing activities’ are due to fuel the rapid growth that is ahead for the Asian market.
Upped demands for primary pharmaceutical containers and for flexible and integrated packaging are due to propel the market’s activity also. (2) Although, these surging demands can only be catered for if the relevant pharmaceutical packaging and labelling compliance requirements are met.
With this in mind, the packaging, labelling and artwork divisions of the pharmaceutical market face pressures from a range of directions. These include:
- Producing efficient packaging streams that are compliant and implemented swiftly at a low cost
- Varying country requirements
- Effectively adhering to new serialisation guidelines and acquiring the machinery to achieve these standards.
- Refreshed regulations
- Controlling demanding overheads
One challenge is presented by the recently revealed Falsified Medicines Directive (FMD) requirements. After waiting for these regulations to be confirmed, market players are now left with the task of achieving requirements by the allocated deadline. Cross-industry insight is of prime value in this instance, as many are keen to learn from other companies’ implementation strategies.
In regards to labelling, one key challenge is navigating around country specific guidelines – especially with the amount of information that is required on a package in ratio to the amount of space available.
In this research report, Pharma IQ explores the trends, both those currently prominent and those which are emerging, within the pharmaceutical packaging and labelling market. Also, Suzanne Ivory, Head of Quality at Perigord provides insight into overcoming artwork obstacles on the route to market.
Download your free copy here.
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