Update on growth in pharmaceuticals

Newly released study on packaging in the pharmaceuticals and medical device sectors shows that changing demographics and looming regulations are among the concerns.

PMMI 2016 Pharmaceutical and Medical Devices Report
PMMI 2016 Pharmaceutical and Medical Devices Report

The U.S. continues to be the largest market for pharmaceuticals and medical devices, according to a newly released study called “Pharmaceutical and Medical Devices: Trends and Opportunities in Packaging Operations.”

In this latest Business Intelligence report from PMMI, The Association for Packaging and Processing Technologies, industry professionals from drug companies, medical device manufacturers, and contract service companies that operate in the life sciences arena share their experiences in complying with tracking regulations, operational challenges, and their future equipment needs.

As the global demand for medicines and devices rises, processors are concerned with issues such as changing consumer demographics, regulatory issues, the need for cost containment, advances in 3D printing, and updating legacy lines.

Faced with the regulatory challenges of Serialization, Unique Device Identification (UDI), and pressure to produce at a low cost, manufacturers in the healthcare and life sciences space are looking at new equipment to replace outdated production lines.Nearly half of healthcare manufacturers interviewed continue to replace legacy equipment and buy new equipment, while two-thirds of participating companies predict spending more on capital equipment in the next two years.

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