The global pharmaceutical packaging equipment market is projected to expand significantly and is expected to be worth US$8.1 bn by 2021, up considerably from its estimated worth of US$5.1 bn in 2014. The global pharmaceutical packaging equipment market is driven by several factors. The expanding pharmaceutical industry, the stringent government regulations and standards, and the rising demand for integrated packaging technologies are some of the market drivers.
Another key driver of the global pharmaceutical packaging equipment market is technological innovation. Players in the global pharmaceutical packaging equipment market are competing on the basis of innovation and developing advanced technologies that come with integrated features and the latest technology.
Top 3 Innovations in Global Pharmaceutical Packaging Equipment Market
Here are the top recent innovations witnessed in the global pharmaceutical packaging equipment market that will have a positive impact on the overall pharmaceutical industry:
- Color-changing Packaging: Color-changing indicators are now available on pharmaceutical products packaging. These are generally patches on the product that change color if they detect the presence of certain pathogens or if the product is adulterated. These responsive ink labels generally do not have a tracking function and are used with barcodes or with RFID labels. Besides the pharmaceutical packaging industry, the color-changing packaging technology is also used in the food industry to indicate to consumers the freshness of the product.
- Blister Packaging with Child Lock: Several firms in the global pharmaceutical packaging equipment market are providing child-resistant blister packaging. Amcor Flexibles has launched their Amcor Opening Feature allowing consumers to open blister-packaged contents with a push-through motion instead of the conventional peel and push methods. This packaging feature also helps reduce the packaging size by 40%. Another firm, Ecobliss, has launched the Locked4Kids packaging solution for the pharmaceuticals industry that works as an effective child-resistant solution. In this pharmaceutical packaging solution, hooks present in the pack are positioned diagonally and the tray is locked safely once it is pushed back in.
- Condition Monitoring RFID Tags: In the pharmaceutical supply chain, several products come with an RFID tag allowing to track the progress and monitor the condition of the product. For instance, small electronic boxes can help record the temperature of multipacks during transit and storage. RFID tags from the firm WhereNet, based in California, can locate crates and containers by scanning them from a range of hundreds of meters.
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Innovations in the global pharmaceutical packaging equipment market are primarily focused on ensuring safety. Another technology that is projected to drive the growth of the global pharmaceutical packaging equipment market in the foreseeable future is nanotechnology. In the pharmaceutical industry, nano-enabled packaging will focus on drug safety by monitoring microbial growth, improving tamper visibility, delaying oxidation, and enhancing convenience.