Market Trends of Active & Intelligent Packaging in Pharmaceutical Industry
This section covers the major market trends shaping the Pharmaceutical Active & Intelligent Packaging Market according to our research experts:
RFID & NFC Holds an Important Position in the Active & Intelligent Packaging in Pharmaceutical Market
- Being linked with data-driven technologies, growth possibilities in intelligent packaging are robust and potentially high. Near field communication (NFC) proved profitable and bearable use cases in pharma and few other fields. Near-field communication (NFC) could be a smart solution to address information of leaflets in drug packages in an interactive way on the patient’s smartphones, for instance, via video.
- Smart packaging is easily integrated with Near Field Communication (NFC), Radio-frequency Identification (RFID), and other wireless-based applications providing the opportunity to optimize logistics operations and stock control within the product life cycle.
- The evolution of Active & Intelligent Packaging, through the use of sensor technologies, indicators (including freshness, integrity, and time-temperature indicators, TTI), and radio frequency identification (RFID), has been assessed for the potential use in pharma products.
- The best thing about NFC is that smartphone users can leverage it. Using NFC, customers can scan for the authentication of pharma products and check their legitimacy, validity, history, and dose instructions before using. It is effortless to use, as the receiver label does not need a power source to get verified by the NFC method.
- TempTrip is a simple, reusable complete temperature monitoring system. The system monitors the temperature of time- and temperature-sensitive pharma products, providing timely, cloud-based reporting. The temperature system combines the latest RFID, bar code and internet technologies to track the location and condition of pharmaceutical products.
- Organizations like PragmatIC has come up with PR1102 FlexICs and ConnectIC PR1101 for high-frequency RFID and even connectivity solutions. These ICs are specifically made for easy embedment into layered material like plastic, paper, and so on.
- These RFID ICs can be used for mass production for pharmaceuticals, healthcare, and many more, improving the management of overall inventory, brand protection, beef up the supply & chain management, and real-time tracking, in addition to providing solutions to pharmaceutical companies that often have to take control of the temperature-measured supply.
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North America Holds a Dominant Market Share
- The United States sees accelerated growth in its existing population, principally due to work-related migrations into the country. This growing population has immediately impacted the Pharmaceutical industry and affected the packaging industry. Stringent legislations regarding Pharmaceutical packaging have led to heightened demand for advanced systems in the region. Also, North America is leading the market for a sophisticated packaging system owing to the increased health awareness among the population and increasing urban lifestyles.
- The pharmaceutical industry is a significant segment, which has an essential role to perform in the active and intelligent packaging market in the United States. Besides, the country considers more than a quarter of the entire pharmaceutical industry, which has significant importance for active and intelligent packaging. Firms in the country, such as VerifyMe Inc. inscribed into a reseller agreement with eAgile. Under this agreement, eAgile will offer its clients VerifyMe's RainbowSecure Ink Identifier Serialization Technology.
- Companies in the country are also entering into strategic mergers and acquisitions to get a competitive edge. For instance, Resource Label Group, a service provider of shrink sleeve, pressure-sensitive label, and RFID/NFC technology for the packaging industry, gained the status of 'Best Label Company' to broaden its west coast presence and position in the label and packaging industry.
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