Pharmaceutical packaging is absolutely vital for the medical community. A recent report found that changes in the industry are likely to only grow in the near future, and there may be some confusion or frustration in the market in coming years as a result.
A Markets and Markets report revealed that several factors may have direct impacts on the pharmaceutical packaging industry. This market has high potential for growth, as many drug patents are set to expire in the next few years, opening production in their generic forms up to more companies. At the same time, there are several constraints expected to limit the market. These include the spiking costs of raw production materials, an increasingly competitive product development environment and the use of refurbished packaging equipment to cut costs in some sectors of the industrial market. As a result, there are questions as to what type of growth should be expected or seen in the near future.
Most regions are expected to have geographic drivers that will help them mitigate the costs of their pharmaceutical packaging equipment. Regions garnering special attention include those of India, China and Brazil, all of which are experiencing rapid overall economic growth. As companies establish new subsidiaries in these regions and invest more of their time and money into building up these locations, it's expected that their promise for pharmaceutical packaging and equipment will grow. India and China in particular have been said to have high rates of annual compound growth. It's also likely that growth in offshore manufacturing will further expand the potential products that can be sold in these countries as well.
Changing Aspects of Production
Rising demand for several different types of packaging lines in the pharmaceutical industry are further changing expectations for production. To keep up with the changes in conventional packaging lines, equipment manufacturers are increasingly using new technologies meant to reduce down time and push production forward. This trend, over time, is expected to help fulfill needs in the market including developing new means for drug delivery, as well as ways to better serve personalized drugs that can meet patient care and compliance needs. At the same time, new regulations are expected to further influence the growth of the market, as companies will want to improve the overall quality of their production standards so as not to run afoul of any problems.
New printing methods helping
World Press Online reported that an upcoming packaging exhibition being held in Chicago will have plenty of innovations in marking, coding and package printing that will have great effects in improving reception of upcoming pharmaceutical packaging technology. The Pharma EXPO will have presentations of the latest solutions in the market, all the better to help manufacturers raise their printing speeds, increase overall efficiency, limit downtime and cut down on operating costs.
On the show floor itself, some of the exhibitions that will be shown off to entice the next wave of packaging will include ink-less UV market systems that can be printed on larger surfaces, laser marking systems that can increase the speed of traditional packaging expectations and improvements in production lines that can provide a better challenge for manufacturers in several sectors. They're designed to create greater savings in efficiency, productivity and cost for an overall improvement in industrial and manufacturing applications, helping ensure a more reliable production considering printing demands.
