LONDON--(BUSINESS WIRE)--The pharma secondary packaging market is highly competitive and crucial. Constant innovation and attempts to create more consumer-friendly and efficient packaging designs is one of the biggest contributors. Therefore, pharma secondary packaging market players need to innovate continually and stay ahead of their competitors’ initiatives. Infiniti’s competitive intelligence solutions enable companies to analyze the market, understand consumers’ needs, and stay ahead of competitors’ strategic and design initiatives. In Infiniti’s recent client engagement, a pharma secondary packaging market client reduced operational costs and realized savings of over $1.2 million within six months of leveraging our competitive intelligence solutions.
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“Pharma secondary packaging is becoming widely adopted and essential as they offer critical functionalities, such as for physical and barrier protection, secondary containment, adherence to regulations, and consumer safety. It also creates a buffer and protects primary packages from each other during transportation,” says a pharma secondary packaging expert at Infiniti Research.
Business Challenge:
The client, a prominent pharmaceutical company based out of the United States, sought to understand the design and technology innovations and industry best practices adopted by leading players in the pharma secondary packaging market. Within the eight weeks of Infiniti’s competitive intelligence engagement, experts at Infiniti were also tasked with helping the client understand the competitive landscape in the European and US pharma secondary packaging market, new features and developments of pharma secondary packaging, and competitor strategies to promote adherence. Additionally, the pharma secondary packaging market client wanted to support their future packaging developments, track industry trends over time, and understand product portfolio descriptions.
Our Approach:
Infiniti’s competitive intelligence experts developed a comprehensive approach to assist the pharma secondary packaging market client. The approach included the following:
- Primary and secondary research comprising of in-depth interviews and compiling information from reliable secondary resources
- Identifying top designs used in the pharma secondary packaging market, including medication adherence packaging, and increasing use of sustainable materials
- Identifying key competitors in the US and Europe, their packaging initiatives, and initiatives undertaken to promote adherence
- Recommending the adoption of robotics and process automation that improves production output, lowers operating cost, and enhances worker safety
Business Outcome:
By leveraging Infiniti’s competitive intelligence solutions, the pharma secondary packaging market client was able to identify and track their top competitors’ strategic initiatives and major packaging trends. The client was also able to increase investment in their packaging lines by adopting technologies that result in faster turn-around time, fewer errors, and higher adaptability. Further, the solutions helped the CPO formulate innovative packaging designs, expedite early market entry for biologics and personalized medicine, and focus on cost-effective packaging designs.
Infiniti’s competitive intelligence solutions also helped the pharma secondary packaging client achieve the following:
- Reduce operational costs by 30% within the first quarter. Read the complete article to find out how.
- Invested into technologies that offer faster turn-around time, fewer errors, and higher adaptability to incorporate and reproduce design changes
- Focus on packaging designs that are cost-effective and have shorter production turnaround times
- Save the company over $1.2 million within six months by minimizing packaging errors and preventing product recalls
Speak to our experts to gain a comprehensive understanding of the benefits of competitive intelligence solutions in the pharma secondary packaging market.
About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us
