Growth in pharma and medical device ijnfographic

Growth in Pharma and Medical Device A recent study on packaging in the pharmaceuticals and medical device sectors shows that changing demographics and looming regulations are among the concerns. The United States continue to be the largest market for pharmaceuticals and medical devices, according to

a study called “Pharmaceutical and Medical Devices: Trends and Opportunities in Packaging Operations.”

The Association for Packaging and Processing Technologies (PMMI) has researched the widespread expansion of the pharmaceutical and medical device market, including the impact of mergers and acquisitions in the association’s latest infographic, “Pharmaceutical and Medical Device Market Trends.” Paula Feldman, director, Business Intelligence, PMMI, said: “With two out of three companies predicting an increase in capital equipment over the next one to two years, the US remains the largest market for pharmaceuticals and medical devices and there are great opportunities for OEMs in both segments.” US shipments for the pharmaceutical market accounted for 70%of the sector, while medical devices made up 30%. Legacy lines are driving equipment change. Manufacturers have outdated equipment that needs replacing now or in the very near future.

In therecent Business Intelligence report from PMMI, The Association for Packaging and Processing Technologies, industry professionals from drug companies, medical device manufacturers, and contract service companies that operate in the life sciences arena share their experiences in complying with tracking regulations, operational challenges, and their future equipment needs.

As the global demand for medicines and devices rises, processors are concerned with issues such as changing consumer demographics, regulatory issues, the need for cost containment, advances in 3D printing, and updating legacy lines.

Faced with the regulatory challenges of Serialization, Unique Device Identification (UDI), and pressure to produce at a low cost, manufacturers in the healthcare and life sciences space are looking at new equipment to replace outdated production lines. Almost half of healthcare manufacturers interviewed continue to replace legacy equipment and buy new equipment, while two-thirds of participating companies predict spending more on capital equipment in the next couple of years.

Generally, branded and specialty drugs and innovative medical devices will most likely drive spending growth in the developed markets, while an overall increase in the use of pharmaceuticals and medical devices are projected to spur development in emerging markets, such as India and China. Contract manufacturing and packaging for pharmaceutical products in developed markets are forecasted to grow at 6% CAGR through 2018, according to PMMI’s research. Mergers and acquisitions will also remain a major component of strategic growth, with mergers up 66 percent from 2014 to 2015 and predictions of strong continued activity.

As the report highlights, pharmaceutical manufacturers are subject to some of the most rigorous standards for package printing and labeling. It is crucial that pharmaceutical and medical device manufacturers stay abreast of the ever-evolving requirements, including necessary counterfeit prevention and security features.

PMMI’s PACK EXPO portfolio of trade shows continuously brings opportunities for the packaging machinery industry to support and grow the industry.PACK EXPO East 2017, the industry’s premier trade show experience in the East brings together suppliers of packaging innovations for pharmaceutical/medical device, food, beverage, cosmetic/personal care, chemical/household, and other packaged goods that serve companies of all sizes. With onethird of the nation’s consumer packaged goods companies and the majority of major pharmaceutical manufacturers located within 200 miles of Philadelphia, PMMI is expecting another top-tier event for the growing industry.