The incessant innovation and changes in the medical and the manufacturing industry demands the production of highly efficient and effective packaging for pharmaceutical components. Scientific developments by pharmaceutical packaging market players are devising products that are replacing the traditional packaging methodologies. IndustryARC analysts suggests via their report, entitled “Pharmaceutical packaging market: by type (blister, strip, ampules, vials, bottles, collapsible tubes); by material (plastic, paperboard, glass, aluminum) & geography – forecast (2018 - 2023),” that the demand will grow substantially and profitably in the near future.
Pharmaceutical Packaging Market Overview
Pharmaceutical packaging technologies aspire to preserve the products from its production until the time of its usage. According to the National Center for Biotechnology Information (NCBI), the global market pharmaceutical packaging market is experiencing a growth of at least five percent per annum and is reckoned to reach over $20 billion annually. The significance of packaging in the pharmaceutical industry is a matter of life and death as it’s accountable for delivering life-saving drugs, medical nutrition, medical devices, and so on.
One of the important aspects that are reflected in pharmaceutical packaging is: containment, the containers of these products should be leak proof as diffusion and permeation can cause serious harm to the patients. Protection from the outside environment is a prime requirement as well as speed delivery is invaluable as time efficiency can save many lives. Additionally, labeling of these products is a critical part of its packaging as it helps in detailing composition for physicians and pharmacists.
The pharmaceutical packaging market is extremely affected by its counterfeiting factor, which refers to the manufacturing and packaging of duplicate products and selling the deceitful as genuine ones. Owing to this restraint, several anti-counterfeiting packaging solutions have been developed which include overt features such as film wrappers, seals and bands, breakable caps, and sealed tubes; and other covert features such as Radio frequency identification (RFID), which includes software for product identification. The packaging materials were modernized, holographic labels, secured tapes, UV fibers in labeling, color-shifting security inks and films, and many more techniques were introduced to cope up with a challenge.
Browse 66 Market Tables, 167 Figures spread through 180 slides and an in-depth TOC on “Pharmaceutical Packaging Market (2018 - 2023)”
Global Pharmaceutical Packaging Market Trends
- In recent years, medical care has extended its radius from hospitals to domestic settlements. Owing to the constant need of monitoring and treatment for certain diseases such as cancer, diabetes, and physiotherapy, the demand for self-administrative treatment process is increasing in the advance packaging and delivery of the pharmaceutical products.
- The notion to achieve a green packaging technology has propelled in recent years. This encourages packaging manufacturers to use ecofriendly resources such as paper, corn starch, and cardboard. The adoption of bio-degradable raw materials can be anticipated for the sustainable pharmaceutical packaging industry.
- Recent elevation in packaging technologies is the introduction of blow-fill-seal technology. In this technology flexible plastic containers is filled with the sterile product in a completely uninterrupted sterilized environment. This technology offers sterility assurance at a low operational cost.
- The pharmaceutical packaging market is one of the most domains of the medical industry because the tampering in pharmaceutical products can lead to an unfortunate and untimely casualty. Advance packaging that includes eco-friendly materials is going to drive the pharmaceutical packaging market in the near future. Therefore, pharmaceutical packaging companies that are investing in R&D for the packaging are anticipated to witness a profitable future.
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