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    Online Exclusives

    Avery Dennison explores trends in pharmaceutical labeling

    Laura Noll and Austin Adair detailed the market during the Pharma Converter Academy in Mentor, OH, USA.

    Avery Dennison explores trends in pharmaceutical labeling
    The Avery Dennison Concept Label, led by Alex Kidd, helps drive product development for growing markets like pharma.
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    Greg Hrinya, Associate Editor10.14.19
    As part of the inaugural Pharma Converter Academy, which took pace October 8-9 in Mentor, OH, USA, Avery Dennison illustrated how this market can provide a significant growth opportunity for labels and package printers. There are a host of relevant applications in the pharma market, ranging from medications and syringes to blood bags and medical devices.

    Lauran Noll, market research manager at Avery Dennison, and Austin Adair, leadership development program, hosted a session on the latest pharma marketplace data and trends. According to Noll, global pharma sales reached $952 billion in 2018, up nearly 100 billion from 2017. Of these sales, the vast majority come from the US, as US spending is up $485 billion, an increase of 5.2% over the previous year. Pharma sales are expected to have a CAGR of 4-7% over a five-year period. Branded prescriptions account for 73% of global pharma sales.

    With the pharmaceutical industry growing, the labels and packaging segment is moving in kind. The global pharma packaging market was valued at $71 billion in 2018, and it is expected to grow 6% annually. Noll adds that the global demand for labels in pharma applications is projected to increase 7% annually, reaching eight trillion square inches in 2020.

    “The biggest reasons for the gains in this segment are an aging population and the availability of generic drugs,” said Adair, adding that plastic packaging is the go-to choice here. Plastics offer a cost-effective, lightweight and durable solution, with plastic packaging accounting for 58% of total materials used in this space. Plus, plastic packaging for pharma is expected to have a CAGR of 6% over the next 10 years.

    US healthcare spending will only contribute to further growth in the future. The US spent roughly $3.5 trillion on national health expenditures in 2018, with retail prescription drug expenditures totaling an estimated $350 billion. Prescription drugs will continue to be the fastest growing healthcare category over the next few years, and generic medicines are expected to reach 90% of prescriptions dispensed.

    There are multiple mega trends driving growth in pharma packaging. Consumers are more conscious and connected than ever before, and healthy and self-sufficient living are key drivers in this space. Due to these trends, RFID – which is growing north of 18% for pharma applications – will shape this landscape into the future.

    “Shopping has really changed and it’s going to continue to change,” noted Noll. “We feel that consumers expect more out of us. They want more value in their transactions and the brands they work with. They want brands that can give the customers better experiences, and this is a great way to increase brand loyalty. RFID and NFC lets us experience more with our product and brand, especially with functions like product instructions and track and trace capabilities.”

    In terms of RFID capabilities, these labels and tags will help fight counterfeiting. According to Jay Wittmann, product manager, Intelligent Labels at Avery Dennison, counterfeit pharmaceuticals represents the biggest counterfeit market, valued at $200 billion. RFID can promote various functions such as higher inventory visibility and accuracy; reduced product expiration, shrinkage and waste; and the prevention of medical errors due to misidentification.

    As people living longer and want to remain healthy, pharmaceutical and nutraceutical spending will only increase. In regards to nutraceuticals, the US makes up the largest global segment with roughly $90-100 billion in sales. The US nutraceutical market is to anticipated to grow at a 7% CAGR through 2023.

    Although pharma demand will rise, brands need to be aware of the latest trends that could impact this space. According to Noll, pharma companies will need to find ways to sell prescriptions online and drive the adoption of lightweight plastic packaging. Plus, more companies will eliminate the need for trips to the doctors’ offices with e-pharma websites.

    The need to specialized medicines will increase, too, and growth in biologic medicines will drive innovation of new pharma packaging to protect against contamination and prevent drug interaction with the packaging material. This niche will also promote the increased adoption of prefilled syringes.

    Noll added that over 50% of FDA-approved drugs in 2017 needed to be temperature controlled. Blood bags are also a segment to watch, as North America required 250 million blood bag labels in 2018. “Blood bag labels are going to be growing at a rapid pace of 7.6% in the future,” said Noll. “More people are donating blood than in previous generations, and people are also living longer, so there’s a greater need for blood for various surgeries.”

    Medical devices are also a growing source for labeling. Medical regulations have and will continue to increase the need for UDI (unique device identification) of medical devices, increasing the number of labels required. The North American medical device market was valued at $187 million in 2018, and that figure is expected to grow at 2% from 2019 to 2024. Cardiovascular devices are the largest segment at 26% of total medical device sales, with irradiation devices accounting for the second largest segment at 21% of total medical devices.
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