- Newer technologies will help pharmaceutical companies
differentiate from competition and reduce overall packaging
costs
KUALA LUMPUR, Malaysia,
March 4, 2015 /PRNewswire/ -- 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, New Technologies that
will Impact the Global Pharmaceutical Packaging Industry
(https://www.frost.com/p84b), 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.
For complimentary access to more information on this research,
please visit:
http://corpcom.frost.com/forms/APAC_PR_DJeremiah_P84B-52_29Jan15.
Developed markets such as Europe have become increasingly vigilant in
tracking pharmaceutical packaging and stopping drug counterfeit. By
2017, serialization of drug packages will be mandatory for all
manufacturers, driving the packaging industry towards newer and
unique solutions.
"Ready-for-use prototypes are expected to make waves in the
pharmaceutical packaging industry," said Frost & Sullivan
Healthcare Industry Manager Dr Siddharth
Dutta. "Drug manufacturers can switch from existing
packaging forms to more innovative designs without spending too
much money on R&D."
In fact, outsourcing is seen as a strategic competitive weapon
by the industry. Technical advancement in the packaging industry is
slow and most pharmaceutical companies allocate only a small
portion of their budget for packaging R&D, compounding the need
for outsourcing.
Stronger regulatory hurdles in developed countries lead to
uncertainty and further affect product innovations in the
pharmaceutical packaging industry. In the face of declining
R&D, the introduction of smart tag like "prooftag" from
Electronic Tag Solutions is expected to alter the drug packaging
landscape.
"In 2015, technologies that remind patients to take their
medication and enable doctors to remotely monitor the proper use of
prescribed medicines will become popular," noted Dutta.
"Technologies such as radio-frequency identification and bar codes
will ensure that the correct dosage is delivered to the patient,
making patient management safer than ever and changing the dynamics
of the global pharmaceutical packaging industry."
New Technologies that will Impact the Global Pharmaceutical
Packaging Industry is part of the Life Sciences
(http://www.lifesciences.frost.com) Growth Partnership Service
program. Frost & Sullivan's related studies include: US
Laboratory Information Management Systems (LIMS) Market, Global
Stem Cell Market, and Global Infectious Disease Diagnostics Market.
All studies included in subscriptions provide detailed market
opportunities and industry trends evaluated following extensive
interviews with market participants.
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P84B-52
Contact:
Donna Jeremiah
Corporate Communications – Asia
Pacific
P: +61 (02) 8247 8927
F: +61 (02) 9252 8066
E: djeremiah@frost.com
Carrie Low
Corporate Communications – Asia
Pacific
P: +603 6204 5910
F: +603 6201 7402
E: carrie.low@frost.com
Melissa Tan
Corporate Communications – Asia
Pacific
P: +65 6890 0926
F: +65 6890 0999
E: melissa.tan@frost.com
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