As the pharma industry continues to evolve and faces unprecedented challenges and opportunities, players in the pharma packaging sector too need to up their game with strategic investments in R&D
So, what are the aspects which highlight the need for a renewed R&D focus in the pharma packaging industry?
Growth drivers
The current focus on packaging R&D is in the areas of product safety, stability and patient’s compliance. As Jaya Abraham, VP, Research and Development, Alvogen highlights, “R&D in pharma packaging would have a significant impact as India’s growing population and economy is creating a large middle class with the resources to afford differentiated medicines to improve the overall treatment outcome.”
Moreover, the looming threat of counterfeiting has also opened up new opportunities in this segment. Industry reports too validate this fact. According to markets and markets research report, stringent government regulations related to manufacturing of counterfeit medicines in several countries of the world has given the opportunity to increase the investment in R&D and be the growth driver of the pharma packaging market during the forecast period, 2016 to 2021.
This story is from the January 16-31, 2018 edition of Express Pharma.
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This story is from the January 16-31, 2018 edition of Express Pharma.
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