Innovation at forefront for the Pharmaceutical Packaging Industry
Owing to the sensitive nature of pharmaceutical products, the purpose of packaging in this industry often transcends being a tool for branding. Pharmaceutical packaging is also an important tool for information about dosage, the drug being catered, and lastly, retaining the medicine’s shelf life. Such applications make for the need for continuous innovation and improved customer service in this industry.
This domain of packaging is a significant contributor to India’s economy. With the market size of pharmaceutical packaging over 2 Billion dollars in 2017, the industry is expected to cross $3.5 billion in 2023, with a CAGR of 9.3%.
With a visible growth in the organized retail sector and eCommerce industry, along with the overall growth in the Indian economy, and lastly, universal healthcare schemes surely signal a positive outlook for the pharmaceutical packaging industry.
Having said that, it is instrumental for industry leaders to come together and spend more resources on innovation of better packaging solutions. As the number of customers of this space increase, so does the responsibility of pharmaceutical companies and allied industries, when it comes to monitoring dosage as well as providing accurate information to the customers to avoid unwarranted circumstances.
The need of the hour for the pharmaceutical packaging industry is to carry out innovation with a singular focus on the customer, a patient. As the aging population increases and as do the number of customers from this age group, there is a unique scope of innovation specifically targeted to them. Contrary to the aforementioned age group, there is also a scope of innovation in this industry targeted for children. Owing to occasional lack of supervision, children are often exposed to poisoning due to medicines. This makes it imperative for pharma companies to innovate in this product range such that medicines might be inaccessible for children yet, easy for geriatric patients to use.
Smart Packaging, a technology that sends reminders to your smartphones, as well as monitors accurate dosage information, is the future of the packaging industry. Already a popular concept in the west, with increased smartphone usage in India, it could be a revolutionary and a potentially life-saving innovation.
Further, just like every other industry, it is also important that the Pharmaceutical Packaging industry reduces its carbon footprint. Supporting innovations in that direction are of paramount importance, especially given the fact that number of consumers are only increasing. Industrial practices such as lean manufacturing and energy-conserving packaging techniques are being given increasing attention in the pharma sector.
If India needs to book its place on the table for the pharmaceutical packaging, it not only needs to ape the tried and tested techniques of the west but develop indigenous solutions as well, that cater specifically to their own target audience. With a growing customer base, optimizing costs through innovation, and increased production, it is appropriate to have a positive outlook for the industry of Packaging Solutions in India.
We, at Meghmani Group, house one of India’s foremost packaging units, Uniworth LLP. At Uniworth, the wide range of packaging films offered include rigid PVC Blister Film, PVC/PVdC films, Alu Alu laminates, and Triplex films to provide supreme packaging for pharmaceutical products, protecting the products within them against harsh environmental conditions and microbial contamination. Further, the products aim at reducing waste.
Uniworth Enterprises LLP is a global supplier of the highest quality pharmaceutical packaging films. Our products are manufactured and distributed under safe environments and follow strict adherence to industry-standard compliances.