A little more on market and market sizes: the pharmaceutical packaging market will be $16B! That’s USD $16,000,000,000.00
Christopher Piela (Loftware’s dedicated specialist on the healthcare vertical) found the size of the pharmaceutical packaging market (of which GS1-compliant labeling would definitely be an important part):
“Pharmaceutical packaging sales demand in the U.S., including Puerto Rico, is forecast to rise 5.5% annually to $16 billion by 2012 according to a new study from The Freedonia Group. Leading the gains will be regulations and standards addressing issues including barrier protection, infection control, patient drug compliance, drug dispensing errors, and drug counterfeiting.
“The report, Pharmaceutical Packaging, explains that an increased focus on these issues will drive growth for container accessories, especially parenteral vials and flip-top closures, plastic dispensing bottles and closures, prefillable inhalers and syringes, track-and-trace and authentication labels, and unit-dose pouches.”
Chris speculates that if labeling is just, say, 1% of that market . . .
Of course, we can be certain that it’s a lot more than the cost of this report, which weighs in at a inspiring $4,700 for 318 pages.