Pharmaceutical packaging is a multifaceted segment, providing essential protection for the important and sensitive materials housed within, while also delivering key information and advertising to patients. According to market research, the pharmaceutical packaging sector is expected to grow at a CAGR of 7.4 percent between 2022 and 2031, reaching an estimated $178.8 billion by the end of the forecast period.
Factors driving the growth of the pharmaceutical packaging market include a developing preference for single-dose packaging formats, a rise in drug development in general, and the growth of e-Commerce. Obviously, the COVID‑19 pandemic has impacted the whole biopharma industry. But, given the rapid approval of the therapies to tackle the virus, such as the messenger RNA (mRNA) vaccines, drug packaging very quickly became a priority issue.
One of the most important and current trends right now is sustainability. Even during the development of drug delivery devices and packaging solutions, companies need to pay attention to how sustainability is integrated in the packaging ecosystem. Cutting-edge manufacturing methods like 3D visualization and printing are helping to reduce waste by eliminating the need for multiple prototype designs. Utilizing a knowledge-based design or taking a quality-by-design (QbD) approach is also improving sustainability and reduce waste.
The Internet of Packaging is another significant trend that is disrupting traditional packaging allowing customers to better communicate with businesses. These smart packaging driven by QR codes, smart labels, RFID, and near-field communication (NFC) chips are integrating product packaging with safety, authorization, and connectivity, transforming packaging into a digital tool.
To put the spotlight on such key developments in the industry, Pharma Tech Outlook illustrates how the pharma packaging space is leveraging emerging packaging trends that can bring a change in the industry. We bring you the story of Mold-Rite Plastics, who is a leading provider of high-quality, rigid-plastic packaging components and reliable packaging solutions. Parallelly goes the story of Sapphire Bioservices, which assists biotech companies in an efficient, transparent, and streamlined manner with a focus on alleviating any complications or delays in bioanalytical processes.
Through the following pages, we aim to shine a light on the innovative trends and latest developments in the pharma packaging industry. We would like to know your thoughts.
