Healthcare Market Equipment Investments Poised for Growth in 2021
Personal care and pharmaceuticals /medical devices are two markets that, not surprisingly, are holding their own and even expecting growth during COVID-19.
End User Expectations for 2021 Equipment Investment
According to the May 2020 U.S. Packaging Machinery Purchasing Index report by PMMI Business Intelligence, CPGs in the personal care and pharmaceuticals/medical devices industries are optimistic about current business conditions driving expansion in 2021, despite COVID-19 shutdowns and oil market surpluses creating a drop in other industries.
Personal Care
• End users in the personal care industry are outperforming the total market in all metrics.
• Demand for personal care items, such as hand soaps, sanitizers, and other assorted toiletries, could be the main driver for expansion in this industry.
• Respondents also anticipate current business conditions will lead to expansion going into 2021.
• Respondents in the personal care industry are significantly expanding use of remote access as companies struggle to meet demand with limited access to plants.
• The expansion of plans for future use of these technologies could imply that reliance on these methods is here to stay.
Pharmaceuticals/Medical Devices
• Perhaps not surprisingly during a pandemic, end users in the pharmaceuticals/medical devices industry are maintaining a rosy outlook.
• Respondents in this industry are reporting some expansion in planned projects, as well as showing some optimism on the impact current business conditions will have on 2021.
• Remote access is reported as increasing in usage.
• End users in this industry are also reporting some expansion in plans for future use of all three technologies.
Download your FREE copy of this report below.
Make plans to visit PACK EXPO International in Chicago, November 8-11, to see on-trend processing and packaging machinery and materials.
Source: PMMI Business Intelligence “May 2020 Packaging Machinery Purchasing Index”
Hiring remains a major challenge in packaging, with 78% struggling to fill unskilled roles and 84% lacking experienced workers. As automation grows, companies must rethink hiring and training. Download the full report for key insights.
Editors report on distinguishing characteristics that define each new product and collected video demonstrating the equipment or materials as displayed at the show. This topical report, winnowed from nearly 300 PACK EXPO collective booth visits, represents a categorized, organized account of individual items that were selected based on whether they were deemed to be both new, and truly innovative, based on decades of combined editorial experience in experiencing and evaluating PACK EXPO products.
