New Technologies that will Impact the Global Pharmaceutical Packaging Industry
The packaging industry plays a major role in the pharmaceutical market. It not only provides containment and drug safety, but also ensures identity, convenience of handling, and delivery. It needs to balance complex considerations. Pharmaceutical Packaging firms are some of the industry's most innovative companies, as has been evident in the last 10 years.
Packaging is a science and has been continuously evolving. In 2014, the pharmaceutical industry has had a variety to choose from (including the prototypes). Europe and other developed markets have become increasingly vigilant in tracking pharmaceutical packaging and stopping drug counterfeit. By 2017, serialization of drug packages will be mandatory for all manufacturers. Under these circumstances, drug manufacturers have limited or no choice but to comply with the new norms if they want to continue operating in these markets.
Pharmaceutical packaging plays an important role in saving costs. By using the latest technologies, drug manufacturers can switch from their existing packaging forms to more innovative designs without spending too much money on R&D. Packaging firms have been always the greatest supporters of the pharmaceutical industry and play a major role in reducing costs. Amcor, CCL Industries, Schott, and MeadWestvaco are some of the major names in the pharmaceutical packaging industry.
These firms have been responsible for introducing innovations in pharmaceutical packaging. Some of the ready-for-use prototypes are expected to create a major change in the way drugs will be packaged going forward.