Smart packaging has become an active field of research in various industries as the need to track goods through the supply chain escalates. Significant work is underway among various stakeholders to identify and commercialize smart packaging technologies, especially in the healthcare, electronics and energy industries.
New analysis from Frost & Sullivan, Impact Assessment of Smart Packaging in Healthcare, Electronics, and Energy, finds that smart packaging for healthcare and electronics products is the most developed. Adoption of smart packaging for pharmaceuticals, in particular, will increase rapidly owing to a growing aged population in the western world and concerns surrounding drug counterfeiting and overdoses. Smart packaging for energy is still in a nascent stage.
“Smart packaging will continue to grow strongly in the healthcare industry, owing to the intense research climate,” said Technical Insights Senior Industry Analyst Aarthi Janakiraman. “With consumers in healthcare and electronics, especially, demanding sophisticated packaging that can detect exposure to environmental factors, maintain humidity, and act as a drying agent, there is every reason to see more products being sold commercially.”
One hurdle to commercializing the technology is the disparity in regulations across countries, particularly, stringent laws in Europe and North America. The high cost of active and intelligent packaging, potential privacy concerns with smartphones, and low public acceptance add to the challenge.
Customers need to be educated about the technology to ease psychological barriers to acceptance. Quelling consumer fears on food safety, preservation of packaged contents, and creating awareness on the choice of packages available will be crucial.
“Environmentally-friendly, tamper-proof, and lightweight packaging will be the next step for the industry,” opined Janakiraman. “Advancements geared toward miniaturization, non-invasive sensing of packaging equipped with smart displays, and radio-frequency identification tags will lend momentum to the use of next generation packaging in healthcare, energy and electronics applications.”
Impact Assessment of Smart Packaging in Healthcare, Electronics, and Energy, a part of the Technical Insights subscription, provides a comprehensive overview of the top smart packaging technologies, their current and future trends in healthcare, energy and electronics. The study reviews technology developments that might significantly impact adoption of smart packing in various application sectors in the near, medium and long term. Further, this study includes detailed technology analysis evaluated following extensive interviews with market participants.
Technical Insights is an international technology analysis business that produces a variety of technical news alerts, newsletters, and research services.
About Frost & Sullivan
Frost & Sullivan (frost.com), the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.
Our “Growth Partnership” supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.
The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.
For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?
Contact Us: Start the discussion | Join Us: Join our community | Subscribe: Newsletter on "the next big thing" | Register: Gain access to visionary innovation
Impact Assessment of Smart Packaging in Healthcare, Electronics, and Energy / D54A-TI