Increasing government regulations, rising consumer demand and increased use of outside contracting services are among the top five trends driving growth in the Pharmaceutical and Medical Device industries. According to the latest research from PMMI, The Association for Packaging and Processing Technologies the top five trends influencing growth in the pharmaceutical market include:
1. Increasing government regulations
2. Rising consumer demand
3. Personalized care
4. Increased use of outside contracting services
5. Collaboration between medical device and pharmaceutical manufacturers
“With the overlap in pharmaceutical products and medical device technologies and about half of all manufacturers in both industries turning to contract services, now is the time to invest in new solutions to improve operations and to keep up with the new direction the industry is taking,” says Paula Feldman, director, Business Intelligence, PMMI. “With two out of three companies predicting an increase in capital equipment, the U.S. remains the largest market for pharmaceuticals and medical devices and there are great opportunities for OEMs in both segments.”
For more detailed information on the top five trends influencing the growth of the pharmaceutical and medical device industry, be sure to check out the infographic below. Contact QPSI to learn how we can help with your Pharmaceutical Packaging & Medical Device needs.