Emerging Growth Hubs Driving the Evolution of the Global Pharmaceutical Packaging Sector
The growing pipeline of temperature-sensitive biologics products and healthcare stakeholders’ higher stake in patient health outcomes will drive investments
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The COVID-19 pandemic has not only revealed supply chain challenges in terms of meeting pandemic-induced demand but also showcased weaknesses with regard to facing disruptions on a global scale. Immediate impacts include supply volatility, steep price increases, and high levels of uncertainty.
Despite the manufacturing reboot, supply chain interruptions have created a ripple effect. In addition, the lack of time stamps across the supply chain and the poor tracing of the chain of custody of drugs have reduced the shelf life of existing inventory and increased wastage-related risks.
For the biopharma industry, positive long-term developments and growth opportunities can outweigh the detrimental short-term impacts of the ongoing pandemic. The industry will witness increased digitalization to build more resilient supply chains to drive flexibility and transparency across manufacturing, packaging, and documentation across the chain of custody.
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