Cold Form Blister Packaging Market - Industry Analysis and Forecast 2017-2025
Albany, NY -- (SBWIRE) -- 12/27/2017 -- The global cold form blister packaging market has been gaining swift momentum due to growing investments in healthcare industry. The increasing number of medical facilities and launch of several health programs by the governments across the world has augmented the demand for cold form blister packaging. Cold form blister packaging is extensively used in pharmaceutical industry as it is convenient for delivering and dispensing various products. The growing food and packaging industry is also expected to give the global market tremendous boost. According to Transparency Market Research, the global cold form blister packaging market is likely to be worth US$1, 1437.7 mn by the end of 2025 from US$715.4 mn in 2016. During the forecast period of 2017 and 2025, the global cold form blister packaging in expected to surge at a CAGR of 5.1%.
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Pharmaceutical Segment to Lead the Way as Healthcare Industry Booms
The polypropylene and other material such as PE, PET, etc. used for the production of cold form blister packaging to witness the highest growth across the globe. However, the aluminum material is estimated be the most prominent material type with a market volume share of 50.9% by the end of forecast period. The OPA material is used for the top layer and PVC material for the inside layer in the cold form blister foil. The PVC is the widely used material for the production of the thermoform blister foil. However, it also accounts for the major share in the cold form blister packaging market. The PVC material is expected to expand at a CAGR value of 5.0% during 2017-2025.
By application type, the pharmaceutical segment dominates the market with the market value share of approximately 97.8% by the end of forecast period. The pharmaceutical segment is primary application area in the cold form blister packaging market due to the high usage of cold form blister for the packaging of the unit dose medicines such as tablets & capsules. The cold form blister packaging is also used for the packaging of various veterinary products and inhalants. It is also estimated that the demand for cold form blister packaging will grow at a good CAGR value for the Food & Confectionary and Other Industrial Application. However, the market share of these segment will not become more than 3% by the end of forecast period.
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Developing Regions of Latin America and Asia Pacific to Present Lucrative Opportunities
The global market has been segmented into five regions, i.e. North America, Latin America, Europe, Asia Pacific region (APAC), and the Middle East and Africa (MEA). The Latin America region is projected to register the highest CAGR of 7.0%, over the forecast period. APAC region dominates the market and is estimated to represent the highest absolute opportunity of US$ 149.8 mn by the end of forecast period. However, the cold form blister packaging in the North America region is estimated to grow substantially by 220 basis points by the end of forecast period. The Europe region is estimated to account for second most prominent region in the cold form blister packaging market.