Albany, NY -- (SBWIRE) -- 04/02/2018 -- The global blister packaging market is estimated to grow at a healthy pace driven by untapped opportunity in the pharmaceutical sector. Innovation and development in this packaging will facilitate product tracking on smartphones and remind patients to take medicines on time. In order to enable disabled and blind people to identify the details printed on blister packs or identify drug specifications, manufacturers need to focus on blister packaging solutions that has attributes which enable users to get basic information about products, easily.
Penetration of Smart Packaging to Emerge as Trend
One of the key trends in the market is the increasing penetration of smart packaging. Smart packaging is especially in demand from the pharmaceutical sector as it offers ease and convenience for consumers. The tamper resistance and barrier properties will also increase the adoption of this form of packaging. Due to all these reasons, the global blister packaging market will witness a high growth and reach an evaluation of US$18 bn by 2027, exhibiting a 6.4% CAGR from 2017 to 2027.
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Some of the factors restricting the growth of the global blister packaging marker are: the strong competition from parental flexible solutions and the fact that blister packaging is not preferred for heavy products will also hamper the growth of the market. This is limiting the application of blister packaging and thus, the consumption will be low, thereby hampering the growth of this market.
Blister packs have films that are very thin, which is making it extremely easy for peeling. This may cause poisoning to small children as they can access the contents easily. Medicated drugs are causing non-fatal positioning to children as they are being consumed by children directly due to easy unwrapping of medicines. Another factor posing a threat to the growth of this market is the conventional material used for production in developing nations in a bid to reduce cost. These chemicals can pose serious health issues and will drive health conscious people to switch to safer materials.
North America Leading in Blister Packaging Market
On the basis of geography, the market is segmented into Asia Pacific, Europe, North America, and the Rest of the World. Of these, North America is leading the market and is at present holding 32% of the market in 2017. The North American market is anticipated to expand at a 6.6% CAGR between 2017 and 2027. The North America market for blister packaging is anticipated to be worth US$6 bn by 2027. The flourishing food and pharmaceutical sectors in the U.S. will be a key reason for the growth of the blister packaging market. Canada is expected to expand at a 6.3% CAGR between 2017 and 2027. However, the U.S. accounts for over 88% of the North American blister packaging market.
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Asia Pacific except Japan (APEJ) is currently reflecting high potential of growth. The emerging economies such as India, China, and ASEAN nations are exhibiting impressive growth in the pharmaceuticals industry, which in turn is boosting the growth of blister packaging. On account of cheap labor and encouraging initiatives that promote manufacturing, the APEJ market for blister packaging. Technological advancements are also a key factor fueling the growth of this market in APEJ, which will result in the market exhibiting a 6.2% CAGR from 2017 to 2027.
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