Infiniti’s Market Intelligence Solution Helped a Pharmaceutical Packaging Company Exceed their Sales Expectation and Realize Savings of Over $3.7 Million
Pharmaceutical Packaging Market Overview
The global pharmaceutical packaging market is expected to witness remarkable growth over the next five years, triggered by increasing R&D, innovations in packaging materials, growth in the generics market, and rising trend of contract packaging. Although these transformations are opening up new opportunities for companies in the pharmaceutical packaging market, companies will also need to overcome certain market challenges and adhere to the medicine packaging standards of the region. However, assessing competition in local markets and developing an effective market entry strategy becomes difficult without the right market intelligence partner. As a result, companies in the pharmaceutical packaging market are now partnering with firms like Infiniti Research to leverage their expertise in offering custom market intelligence solution.
Want to know the potential for your products or services in a new market? Our market intelligence solutions can help. Request a FREE proposal now.
Business Challenge
The client is a pharma packaging company based out of Canada. The client wanted to understand the potential for their pharma packaging product and the competitive landscape in Europe. Additionally, before expanding their operations in the European market, they wanted to gain a better understanding of the prevailing and potential market opportunities in Europe. Also, they wanted to analyze factors, including investment environment, industry development, and competitors plans and actions.
Other key objectives the client wanted to achieve by leveraging Infinitis market intelligence services were:
Pharmaceutical packaging market challenge #1 – Handling and transportation
With Infinitis market intelligence solution, the client wanted to understand all the packaging alternatives leveraged by pharma companies in Europe to protect medicines from vibration and shock during the transportation process.
Pharmaceutical packaging market challenge #2 – Accommodating new biologics
With a multitude of new drugs being introduced each day, the client wanted to understand the packaging initiatives undertaken by top pharma companies in Europe to accommodate them. In addition, the client wanted to analyze the demand for silicone-free or low-silicone syringes in Europe.
Pharmaceutical packaging market challenge #3 – Preventing counterfeit products
The rise of counterfeit drugs increased challenges for companies operating in the pharma packaging market. This even compelled the companies in the pharmaceutical packaging market to incorporate scannable codes and hologram stickers to seal the packaging and ensure that genuine products stand out. The client, therefore, wanted to analyze all the risks facing the companies in the European pharmaceutical packaging market.
Market intelligence solutions can help companies in the pharmaceutical packaging market to analyze all the latest market opportunities and trends in a new or existing market.