The research study conducted by Report Ocean on the “ Pharmaceutical blister packaging Market” spans over 100+ pages and delves into various facets of this market. It analyses the business strategies adopted by emerging industry players, examines the geographical scope, dissects market segments, evaluates the product landscape, and investigates price and cost structures. This research report facilitates market segmentation based on the latest Market trends, geographical market, and technological advancements. Each section of the report is meticulously prepared to scrutinize key aspects of the market. Moreover, it includes a detailed analysis of current applications, comparing them while focusing on opportunities, threats, and conducting a competitive analysis of major companies.
The global pharmaceutical blister packaging Market is valued at approximately USD 9.88 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 6.3 % over the forecast period 2022-2029. Blister packaging is a cavity formed in plastic by thermoplastic, according to the size of the medical equipment, tablet, or any other commodity, and covered by a lid to encapsulate it safely. This method of packaging secures the medical item for safe use by incorporating various packaging components. The Pharmaceutical blister packaging market is expanding because of factors such as the rising demand for pharmaceuticals and increasing application of thermoforming technology in the forecast period.
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According to Statista in 2022, the global pharmaceutical industry is rising including research, development, production, and distribution of medicines. Also, the global pharmaceutical industry generated revenue of around USD 1.42 trillion in 2021. Thus, with the rising across the pharmaceutical sector, the market is expected to grow. Whereas preference for tablets and capsules across the medical sector and growing R&D activities by market players create lucrative opportunities for the market. However, the shift from conventional materials to new recyclable materials hampers market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Pharmaceutical blister packaging Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue, owing to the increasing demand, rising penetration of market players and technological advancement. Whereas North America is expected to grow with the highest CAGR during the forecast period, owing to factors such as increasing awareness and stringent laws towards packaging.
Major market players included in this report are:
Amcor Limited
Constantia Flexibles
WestRock Company
Klockner Pentaplast Group
Sonoco Products Company
Honeywell International Inc.
RENOLIT SE
Winpak Ltd
Uflex Ltd
ACG Pharmapack Pvt Ltd
Recent Developments in the Market:
In April 2022, Amcor announced customer trials of AmSky, the world’s first recyclable (Recyclability independently verified by cyclos-HTP) Polyethylene-based thermoform blister packaging, marking a breakthrough in blister packaging innovation. The new packaging meets the exacting standards of highly specialised and regulated pharmaceutical packaging. The new packaging eliminates PVC (PolyVinyl Chloride) by using a Polyethylene (PE) thermoform blister and lidding film. The company is collaborating with several pharmaceutical companies to bring AmSky to market globally, with the product expected to be available in the second half of 2022.
In April 2022, Klockner Pentaplast (kp), a global player in recycled content products and high-barrier protective packaging, announced a multi-million dollar production expansion at its Beaver, West Virginia, manufacturing facility. The investment expands North American post-consumer recycled content (PCR) PET capacity. The expansion includes an extrusion line and two thermoformers, resulting in 15,000 metric tonnes of new rPET/PET capacity that will benefit consumer health, pharmaceutical, and food packaging offerings. The extrusion line will help to manufacture important sustainable product lines such as kpNext recyclable pharmaceutical blister films and Smart cycle recyclable label and consumer packaging films. The thermoformers will create kp Elite mono-material protein trays that are made from up to 100% recycled PET and are easily recycled, resulting in a circular economy.
Global Pharmaceutical blister packaging Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Type, Component, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Type:
Compartment Blister Packs
Slide Blister Packs
Other Blister Packs
By Component:
Films
Lidding Materials
Secondary Containers
Packaging Accessories
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
ROLA
Rest of the World
Key Questions Answered in the Market Report:
• How did the COVID-19 pandemic have an impact on the adoption of via a range of pharmaceutical and existence sciences companies?
• What is the outlook for the affect market all through the forecast length 2023-2032?
• What are the key developments influencing the have an impact on market? How will they have an impact on the market in short-, mid-, and long-term duration?
• What is the give up person appreciation toward?
• What are the key elements impacting the have an effect on market? What will be there have an impact on in short-, mid-, and long-term duration?
• What are the key possibilities areas in the influence market? What is their workable in short-, mid-, and long-term duration?
• What are the key techniques adopted via groups in the have an effect on market?
• What are the key utility areas of the influence market? Which utility is predicted to keep the very best increase attainable all through the forecast duration 2023-2033?
• What is the favoured deployment mannequin for the impact? What is the boom conceivable of quite a number deployment fashions existing in the market?
• Who are the key cease customers of pharmaceutical quality? What is their respective share in the affect market?
• Which regional market is predicted to maintain the easiest boom possible in the have an impact on market at some stage in the forecast length 2023-2032?
• Which are the key gamers in the have an impact on market?
Growth Hampering Factors in the Market:
- Environmental regulations: Stricter environmental regulations on the production and use of fossil fuels can limit the availability and use of traditional market.
- Safety concerns: Safety concerns regarding the storage and transportation of can limit their use.
- Supply chain disruptions: Disruptions in the global supply chain due to natural disasters, pandemics, or other factors can impact the availability and cost of market.
- Security concerns: Security concerns regarding the transportation and storage of market can limit their use and availability.
- Technological obsolescence: Advances in technology can make existing systems obsolete, leading to reduced demand.
- Competition from alternative fuels: The development of alternative fuels such as biofuels and hydrogen-based fuels can compete with traditional market.
- Volatility in oil prices: Fluctuations in oil prices can affect the cost of market, making it difficult for industry players to predict and plan for costs.
- Economic downturns: Economic downturns can result in reduced demand for air travel and air cargo transportation, leading to a reduction in demand for market.
- Geopolitical tensions: Political instability and tensions between nations can impact the global supply chain for market, leading to supply disruptions and price fluctuations.
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