Dale Pittock, sales director of Valley Northern, explains how contract packaging can support pharmaceutical innovation.
Packaging concept
In 2016, the global contract packaging market was worth $26.54 billion, and is expected to reach $47.28 billion by 2022. This compound annual growth rate (CAGR) of 10.1% is expected to be driven largely by growing demand for pharmaceutical contract packaging.
New regulatory changes like serialisation are driving manufacturers to outsource packaging to contractors that have the relevant infrastructure and expertise to ensure compliance.