Trends in the medical device industry
Increased government regulations, rising consumer demand and personalized care are among the top reasons for growth in the pharmaceutical and medical device industry. The PACK EXPO East (April 16 to 18, 2018 in Philadelphia, USA) will reflect that.
With the third installment of PACK EXPO East (Pennsylvania Convention Center) just a few months away, show organizer PMMI, the Association for Packaging and Processing Technologies, released the 2017 Pharmaceutical and Medical Device White Paper and accompanying infographic exploring the top five forces shaping this important market. Expected to be on display at PACK EXPO East, the top five trends influencing growth in the market are:
- Increasing government regulations
- Rising consumer demand
- Personalized care
- Increased use of outside contracting services
- 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 one-third of the nation’s consumer packaged goods companies and a significant number of major pharmaceutical manufacturers located within 200 miles of Philadelphia, PMMI is expecting PACK EXPO 2018 to be another top-tier event for the growing industry. The three-day event spans 100,000 net square feet and features 400 exhibiting suppliers of packaging innovations for Pharmaceutical/Medical Device, Food, Beverage, Cosmetic/Personal Care, Chemical/Household and other packaged goods that serve companies of all sizes and is a valuable opportunity to see the latest packaging technologies.
PACK EXPO East attendees will enjoy all the educational and networking opportunities traditionally offered at larger PACK EXPO shows on a compact, more personable scale, the organizer concludes.