Trade Resources Industry Views An Economic Option and Preferred by The Healthcare or Pharmaceutical Industry

An Economic Option and Preferred by The Healthcare or Pharmaceutical Industry

Reusable passive packaging is an economic option and is preferred by the healthcare or pharmaceutical industry, according to a survey conducted by global provider of temperature assurance packaging Sonoco ThermoSafe.

The 2014 survey was co-developed by an eight-member advisory panel comprising of experts from Merck, Sanofi, AbbVie, UPS Temperature True Packaging, Pharmaceutical Commerce, Healthcare Packaging, IQPC, and Exelsius Cold Chain Management Consultancy.

Consisting of 26-questions, the survey termed "Assessing the future of the Cold Chain Industry" revealed that healthcare or pharmaceutical industry relies on goods and services from logistics providers instead of drug manufacturers.

"The current logistics spend for temperature-sensitive healthcare products is approximately $8.4 billion worldwide and growing, or about 13% of the overall pharmaceutical logistics market. Approximately $5.6 billion is spent on transportation while another $2.8 billion is allocated to specialized packaging and monitoring devices," it stated.

The survey also points out areas where improvement is required. Enhancing package efficiency, ownership costs, pricing, need for robust solutions, quick implementation are major suggestions revealed by the survey.

The industries prefer outsourcing packaging to third-party logistics (3PL) firms, according to the research findings, owing to benefits like cost savings, international expansion etc. Drug manufacturers prefer to focus on their 'core competencies' instead, reports Packaging World.

While 51.2% of the survey respondents using insulated shippers already re-use their packaging, 70% expect re-use of passive packaging throughout the industry, according to the survey.

The findings also hinted at possible trends that can affect the industry in the future. Besides federal regulations, other factors that can possibly affect the packaging business for healthcare or pharmaceutical industry are growth in biological drug therapies and vaccines, logistics costs, growth in emerging markets, and expansion of temperature range.

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Pharmaceutical Industry Relies on Reusable Packaging and 3PL Providers: Sonoco Thermosafe