The annual innovation index in medication administration of Pharmapack It is published ahead of Pharmapack Europe 2024 (January 24 and 25), which will be held at the Paris Expo, Porte de Versailles (hall 7.2). The results showed a slight increase from the record scores seen in the 2023 survey, indicating a continued resurgence of confidence and innovation in pharmaceutical R&D.
The Index [rated out of ten] is a guaranteed metric of drug delivery and device innovation in major markets. Significantly for the industry's outlook in 2024, the index rose very slightly to 7,45 from a previous record score of 7,44 in 2023. With most countries maintaining or seeing slight drops in scores year-on-year, France was easily the biggest driver of the index (+11%) rising to fourth place in the ranking, with Germany supplanting its eternal rival, the United States, to lead the ranking in 2024. Spain also grows compared to last year, remaining among the world leaders .
The Pharmapack Index results are widely seen as a key measure of industry confidence for the coming year and point to renewed device innovation in 2024, with all European countries performing well.
To emphasize the change, more than 5.000 attendees and more than 370 companies are expected at Pharmapack Europe. The event has seen a notable increase in attendance from early-stage companies over the past year, with its Start-Up Hub now boasting over 20 companies. Indeed, the event is widely seen as a hotbed of future innovation and will host the Pharmapack Awards, Learning Labs and Innovation Trails of the same name, all designed to showcase promising technologies and empower further collaborative development.
“After record attendance at CPHI Barcelona, the Pharmapack index, which is a measure of confidence in R&D in drug delivery, has retained its record strength and there is once again great enthusiasm to partner, invest and commercialize promising innovations in devices and packaging. “We are already anticipating a record-breaking event and, most importantly, a resurgence of partnerships and development of novel devices across the industry throughout 2024,” he commented. Laura Indriksone, brand manager of Pharmapack Europe.
As an added bonus, two national pavilions will be launched for Switzerland and this year's Index star country, France. The Pavilions were launched in response to high demand.
Last year's top three countries (Germany, the US and the UK) maintained their positions with very similar scores, but both France and Italy improved and have now replaced China and India in the top five. The results emphasize an emerging European dominance in drug device and packaging innovation, with four of the top five nations and one European country narrowly complementing the US to lead the rankings for the first time.
“Pharmapack is a reflection of the industry and Europe is now collectively the center of global innovation in devices and packaging. We have designed this year's event to help unlock the industry's potential, not only for the devices and packaging that will lead the market in 2024, but also so that the industry can learn, share and discover innovations that could move the market in the medium term. Since research and development takes many years to complete, it is incredibly important that the community comes together to help accelerate this progress. Across the sector we are seeing a holistic approach to product development, with the industry focused on real-world impacts and lifecycle approaches. The passion and dedication to innovation is what makes this show so rewarding,” Indriksone added.
Pharmapack's agenda will also address many of the current topics in development, including the challenges associated with high-volume medicines, high-viscosity medicines, and how to optimize patient-centered solutions. Additionally, sessions will also explore the rise of pre-filled syringes, self-delivery devices and the evolution of sustainable packaging solutions. In fact, there will be packaging innovations designed not only to improve the user experience, but also to contribute to environmental sustainability.
