Updated on 4 March 2015
Pharmaceutical packaging industry to evolve in Asia: Analysis
Singapore: According to a study by Frost & Sullivan, United States, European Union, and Japan account for more than 65-70 percent of the global market for pharmaceutical packaging and China, Brazil and India will rapidly evolve into key markets for growth and spending in the packaging sector. 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, the study finds.
The analysis notes that 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.
The packaging industry plays a major role in the pharmaceutical market. It provides containment and drug safety and 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.
"Ready-for-use prototypes are expected to make waves in the pharmaceutical packaging industry," said Dr Siddharth Dutta, healthcare industry manager, Frost & Sullivan. "Drug manufacturers can switch from existing packaging forms to more innovative designs without spending too much money on R&D."