Albany, NY -- (SBWIRE) -- 09/29/2017 -- Market push and pull factors and opportunity areas
The global blister packaging market is anticipated to reach a value of more than US$ 18 Bn by 2027 end and is poised to register a CAGR of 6.3% during the period of forecast (2017 to 2027). Several trends, opportunities, restraining factors, and challenges lurk within the global blister packaging market that impact the dynamics of the global market. North America is the leading region expected to contribute over 32% with respect to value share in 2017 and is anticipated to grow at a CAGR of 6.6% over the period of forecast, thereby dominating the global blister packaging market.
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There are several opportunities within the global blister packaging market. Attractive features in blister packaging for pharmaceuticals is an untapped opportunity. Innovation and development in blister packaging can facilitate product tracking on smartphones and also remind patients to take medicines on time. Also, in order to enable blind or disabled persons to identify pharmaceutical drug specification and details printed on blister packs, manufacturers can focus on blister packaging solutions with attributes that will enable users to get the basic product information easily. The penetration of smart packaging is gaining sufficient traction especially in the pharmaceutical industry, thereby offering convenience and ease for consumers. Owing to the tamper resistance and barrier properties, there is an increase in the adoption of blister packaging. These factors are driving the global blister packaging market.
However, certain loopholes can act as restraints in the growth of the global blister packaging market. Strong competition from parental flexible solutions is anticipated to hamper the growth of the blister packaging market in the long run. Moreover, blister packaging is not much of a preferred option for heavy products. This can limit the application of blister packaging and consumption thereby pulling revenue growth in the global blister packaging market.
North America will continue to dominate the global blister packaging market
The North America region is expected to grow at a robust growth rate to reflect a value of more than US$ 6 Bn by the end of 2027. With respect to volume, North America again stands first as it reflects a higher volume growth during 2017 and this trend is anticipated to continue over the period of forecast. Within the North America region, the food and pharmaceutical industries in the United States are expected to contribute to the growth of the blister packaging market. The Canada market is anticipated to grow at a similar rate as that of the U.S, and is poised to register a CAGR of 6.3% during the period of forecast. The U.S market accounts for about 88.1% of the North America blister packaging market.
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Asia Pacific Excluding Japan (APEJ) reflects high growth potential
The Asia Pacific Excluding Japan (APEJ) region, consisting of emerging economies such as China, India and ASEAN countries, has shown impressive growth in the global pharmaceuticals market. Leading global players are actively considering APEJ as the epicentre for drug manufacturing. This is possible owing to low cost of labour, encouraging government initiatives to promote local manufacturing, and easy availability of skilled labour and resources. These factors have transformed the APEJ region into a potential market for blister packaging. Technological advancements in APEJ have contributed towards fuelling the growth of the blister packaging market in this region. Manufacturers are producing blister packs made of recyclable material that are eco-friendly in nature. China – the largest market for blister packs in this region – has started producing and supplying barrier films for the production of blisters packs. Both China and India are expected to grow at a similar rate and are the dominating countries in APEJ, with China expected to hold a higher market share by value than India. The APEJ blister packaging market is expected to grow at a CAGR of 6.2% during the period of forecast.
Dynamics of the global blister packaging market
Dosing accuracy reduces all medication errors. Blister packs are gaining popularity owing to their "smart" features; one can track whether the pills are taken on time or not. Nowadays, blister packs are being linked with sensors that send alerts to smartphones, thereby reducing medication errors.
Blister packs have very thin film and peeling becomes extremely easier. This can cause unintentional poisoning to children, as they can easily access the contents. It has been noticed that medicated drugs are causing non-fatal poisoning in children owing to the direct consumption of the medication by children due to ease in unwrapping the medicine.
Various product launches have been witnessed. For example, companies such as Amcor Limited and Constantia Flexibles GmbH are focussing on product launching activities in order to extend their market visibility at a global level.
Blister packs act as perfect sealing agents for microbes and provide stable and reliable solution for pills. Blister packaging material is getting more popularity as it provides an aseptic solution.
Manufacturers in emerging countries are using conventional material for production as it is cost-effective. These chemicals can cause serious health issues and hence health conscious individuals are switching to safer materials.
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