Healthcare Packaging EXPO Addresses Pharmaceutical Growth Opportunities

According to a recent report from PMMI, The Association for Packaging and Processing Technologies, the United States continues to be one the largest national pharmaceutical and medical devices packaging markets[1] and in order to meet evolving trends, the industry continues to experience growth. However, globally speaking, the demand for pharmaceutical packaging products is expected to increase by 6.5 percent annually, reaching $100 billion by the year 2019[2].

While growth in the market presents its own challenges, it also creates opportunities for manufacturers and packagers alike. Most industry changes are being seen in regulatory compliance, increased consumer demand, rising personalized care and more frequent collaboration between medical device and pharmaceutical manufacturers. Each of these trends has its own effect on the growth of the industry.

Global Regulatory Standards

In a recent report, PMMI estimated that the global counterfeit drug market was between $75 and $200 billion in 2016[3]. In an attempt to combat the surge of fake pharmaceuticals, the industry is working toward creating a global standard for track and trace packaging across the pharmaceutical industry.

For instance, the Drug Supply Chain Security Act in 2013 requires pharmaceutical manufacturers to develop an electronic track and trace system to identify each stage of the journey a drug makes through production, from manufacturing to packaging, all the way to the shelf. In order to meet these requirements, Unique Device Identification coding technologies are being implemented on pills and packaging to ensure tampering does not occur. By the end of 2017, all pharmaceutical manufacturers will require a serialization track-and-trace system capable of identifying the smallest saleable unit and case level, and packagers will need to be prepared to introduce these technologies by the end of November 2018. These regulations will help protect 75 percent of the world's pharmaceuticals by 2019[4].

Growing Markets and Personalized Consumer Demand

According to PMMI’s Top 5 Forces Shaping the Pharmaceutical and Medical Device Industries in 2017 and Beyond white paper, increased access to insurance is creating a growing consumer demand for the pharmaceutical and medical device markets respectively[5]. In addition, an aging world population—as well as increasing healthcare availability—are both driving consumer demand, especially for personalization to meet individual needs.

In order to keep up with this growing demand for personalization, automation and the integration of both physical robotics and data driven software systems are becoming integral in supply-chain design. Manufacturers are looking for faster production speeds, shorter batch runs, specialized packaging and high value items, all driven by automated systems. With the pharmaceutical industry moving closer to globalized regulations, OEMs are also expected to provide service on a global scale. With an emphasis on automation, pharmaceutical companies are raising the expectations for OEMs and want more automated remote diagnostics capabilities as a part of their partnership as they continually move facilities as close as they can to points-of-sale.

Collaboration between Medical Device and Pharmaceutical Manufacturers

This year the industry began to see the pharmaceutical and medical device sectors becoming less mutually exclusive. In some ways, the two industries are blending together to provide more personalized care as well as tracking the use of drugs by patients. In a way, the advances driving regulations and consumer demand are playing a role in these partnerships.

For instance, medical device companies are pairing with pharmaceutical companies to develop implantable devices that can both perform tests and administer doses. Additionally, pill bottles are becoming equipped with timestamp readouts so that doctors can monitor patient compliance with their prescriptions. Technological advances in labeling and serialization are paving the way to more collaboration between the medical device and pharmaceutical industries, ultimately leading to better, more personalized care for patients.

Heart of Innovation at Healthcare Packaging EXPO

Pharmaceutical and medical device companies can find numerous solutions for growing industry trends at Healthcare Packaging EXPO (Sept. 25-27; Las Vegas Convention Center), produced by PMMI. Co-located with PMMI’s PACK EXPO Las Vegas, Healthcare Packaging EXPO provides pharmaceutical and medical device companies with a network of industry professionals and cutting-edge technologies changing the packaging landscape.

The show’s Innovation Stage will feature 30-minute presentations from thought leaders across multiple segments, including pharmaceutical supply chain innovators discussing regulatory matters, serialization and business insights. In addition to Innovation Stage learning opportunities, attendees will network with other industry professionals including engineers, production supervisors, package designers, brand marketers, purchasers and corporate managers. Attendees walking the show floor will also benefit from live exhibitor demos of technologies like automation, track-and-trace technology, quality control and assurance, continuous processing, and more.

Registration for both shows includes admission to both events.

To learn more about the educational programming, click here.

To register for Healthcare Packaging EXPO, visit http://www.hcpelasvegas.com.

About PMMI

PMMI, The Association for Packaging and Processing Technologies, represents more than 800 North American manufacturers and suppliers of equipment, components and materials as well as providers of related equipment and services to the packaging and processing industry. We work to advance a variety of industries by connecting consumer goods companies with manufacturing solutions through the world-class PACK EXPO portfolio of trade shows, leading trade media and a wide range of resources to empower our members. The PACK EXPO trade shows unite the world of packaging and processing to advance the industries they serve: PACK EXPO International, PACK EXPO Las Vegas, Healthcare Packaging EXPO, PACK EXPO East, EXPO PACK México, EXPO PACK Guadalajara and ProFood Tech. PMMI Media Group connects manufacturers to the latest solutions, trends and innovations in packaging and processing year-round through brands including Packaging World, Automation World, Healthcare Packaging, Contract Packaging, ProFood World and Packaging + Processing OEM. PMMI Business Drivers assist members in pursuing operational excellence through workforce development initiatives, deliver actionable business intelligence on economic, market and industry trends to support members' growth strategies, and actively connect the supply chain throughout the year.

Learn more at PMMI.org and Packexpo.com and PMMIMediaGroup.com.