Pharmaceutical Smart Packaging Market Report

The pharmaceutical industry undergoes challenges such as medication intake errors and counterfeit drugs. This is where the role of Smart Packaging comes into play. Smart Packaging makes use of integrated technologies, including NFC chips, LEDs, and Bluetooth, to provide benefits to the patients, manufacturers, and physicians.

Pharmaceutical Smart Packaging can reduce supply chain losses by improving environmental monitoring, patient adherence, and security. Moreover, they can offer opportunities to increase brand identity and customer loyalty.

Growing Need for Product Traceability to Drive Usage of Pharmaceutical Smart Packaging

Increasing need for product traceability in the pharmaceutical sector is calling for the usage of Smart Packaging. Growing counterfeiting issues are also increasing the need for Smart Packaging. Moreover, increasing strict regulations on patient safety could be a crucial factor in the Pharmaceutical Smart Packaging market growth.

Benefits offered by Smart Packaging including enhanced patient adherence, tracking, authenticity, anti-counterfeiting, and increased shelf life are fuelling its demand across the pharmaceutical industry. Technological advancements are also likely to offer new possibilities for pharmaceutical packaging.

Key Players to Develop Novel Smart Packaging Solutions in Future

Thin Film Electronics, Praxair, Inc., Ball Corporation, Amcor Plc, LINPAC Packaging Limited, Coveris Holdings S.A., BASF SE, Desiccare, Inc., Huhtamaki PPL Ltd, ULMA Packaging, 3M, DuPont, Berry Global, Inc., and Multisorb technologies are some of the leading manufacturers of Pharmaceutical Smart Packaging profiled in the report.

Manufacturers are focusing on the development of novel smart packaging solutions to cater to the requirements of the pharmaceutical industries. Moreover, they are taking up strategic initiatives such as mergers and acquisitions and collaborations to stay ahead of the curve in the market.

Market Segmentation

By Type

●  Active Smart Packaging

●  Interactive Packaging

● Intelligent Packaging

● Controlled Permeability packaging

● Modified Atmosphere Packaging

By Technology

●  Indicators

●  Biosensors

●  Gas sensors

●  Bar codes

●  RFID technology

●  2D matrix codes

●  Quick response codes

●  Augmented matrix codes

By Function

● Protection

● Containment

● Communication

●  Convenience

Although active packaging is popularly used in the pharmaceutical sector, usage of intelligent packaging is likely to increase as it is more interactive and offers a way to obtain, store, or deliver information. The pharmaceutical industries are increasingly adopting RFID technology as it has the capability to capture and relay data, thereby improving the quality and patient safety, eliminating counterfeiting, and reducing the overall costs. The report also analyses the market on the basis of function and their contribution to the overall market size.  

By Region

As per the analysts, Asia Pacific could present growth opportunities for the manufacturers of Pharmaceutical Smart Packaging in the near future. This is attributed to favorable government initiatives and high spending on healthcare. Moreover, growing pharmaceutical sector and surge in the number of contract manufacturing activities in this region will positively influence the Pharmaceutical Smart Packaging market growth.

Packaging is an indispensable part of every industry. It ensures protection of the product and even extends shelf life of the packaged items. Through the years, the packaging industry has undergone massive changes. From development of better, sturdier materials to changing outlooks toward designing environment-friendly materials, the packaging industry has witnessed some noteworthy changes.

The research reports on the packaging industry discuss the evolution of materials and the impact of changing consumer needs. Packaging solutions have constantly adopted newer technologies for providing consumers with safer perishables and keeping the products intact until delivered. Analysts have taken a granular view at the booming e-commerce sector and its influence on the packaging industry. We aim to provide the readers an in-depth and a comprehensive analysis of the packaging industry. Intricacies pertaining to food safety, environmental norms, and research and development of materials have been studied by analysts with a focused approach.