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PMMI, The Association for Packaging and Processing Technologies, released a report on trends opportunities in packaging of pharmaceuticals and medical devices that predicts increased spending on capital equipment for processing and packaging.
Both drug and medical device manufacturers are concerned with changing consumer demographics, regulatory issues, the need for cost containment, advances in 3D printing, and updating legacy lines, according to a report by PMMI, The Association for Packaging and Processing Technologies. PMMI released the findings of its Pharmaceutical and Medical Devices: Trends and Opportunities in Packaging Operations report at PACK EXPO International and Pharma EXPO 2016.
One of the ways manufacturers are addressing cost pressure is by using more contract services, including contracting packaging. Although some manufacturers that must replace outdated lines will consider outsourcing, 41% of manufacturers interviewed continue to replace legacy equipment and buy new equipment, according to the report.
“With two out of three companies [that participated in the PMMI report] predicting the need to spend more on capital equipment in the next 12 to 24 months, there are great opportunities for OEMs [original equipment manufacturers] in both pharmaceuticals and medical devices,” said Jorge Izquierdo, vice-president, market development, PMMI, in a press release.
The need for serialization and, for medical devices, unique device identification is affecting the whole supply chain. Approximately half (52%) of the companies interviewed that are required to serialize their products have already adopted aggregation, says PMMI.
Innovations mentioned in the report that may affect the industry include individualized drug therapies, new drug delivery technologies, drugs that combine disparate compounds in a single dosage form, formats that are easier to self-administer, extended shelf life, patient-compliant packaging, and combining drugs with sensor technologies.