Market share in the pharmaceutical and medical device market has remained stable over the past four years, and successful packagers have benefited from long-term customer relationships because of their understanding of the healthcare industry’s complex supply chain, and their ability to navigate strict regulatory requirements.
The new white paper, “Pharmaceutical & Medical Devices | Trends & Opportunities in Packaging Operations,” also said that dollar value in this market has increased: pharmaceutical preparations comprise over 50% share, while surgical instruments have a 14% share.
Findings were based on opinions gathered from 27 interviews with industry experts in the pharmaceutical and medical device industries, including those in executive operations, engineering, manufacturing, and packaging.
Three out of four respondents from both pharmaceutical and medical device companies said they are planning to make capital investments in the next 12-24 months, either to refurbish their old tooling or to purchase new equipment. These decisions will be driven by technology, automation and regulation, as well as by cost and ROI. Two out of three companies interviewed predict sourcing packaging equipment.
The plans for new equipment purchases in the pharma industry include:
