Blow Fill Seal Technology Market Is Anticipated to Register at a Healthy CAGR of 8.7% During the Forecast Period 2017-2027
Blow Fill Seal Technology Market: Cutthroat Competition Between North America & Western Europe in Terms of Market Share: Global Industry Analysis (2012 - 2016) & Opportunity Assessment (2017 - 2027)
Valley Cottage, NY -- (SBWire) -- 09/10/2018 --In North America, pharmaceutical companies are extensively employing blow fill seal (BFS) technology to facilitate their need for unit dose packaging. A greater demand for unit dose packaging in pharmaceutical industries is prevalent in other parts of the world, as well. Latin American countries such as Brazil and Mexico are witnessing a shift from conventional packaging to advanced pharmaceutical packaging, wherein unit dose packaging solutions are gaining preference. Through BFS technology, unit dose packaging solutions can improve patient adherence to prescribed drug regime. In addition to this, packaging companies are actively adopting blow fill seal machines due to their low energy consumption, reduced waste generation, and an overall low carbon imprint.
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Future Market Insights' recent study on the global blow fill seal technology market observes the rising preference to unit dosage packaging as a key driver. According to the report, the global market for BFS technology is anticipated to reach US$ 3.1 Bn value by the end of 2017.
The report projects that prime demand for flexible glass vials will continue to drive the need for BFS technology in the packaging industry. By the end of 2027, the global market for BFS technology will have soared robustly at 8.7% CAGR, bringing in revenues worth over US$ 7.2 Bn.
Prefilled Syringes & Injectables – Top-selling Products of BFS Technology
With the use of blow fill seal technology, packaging companies are improving the flexibility of products namely, bottles, ampules, vials, and prefilled syringes & injectables. The report estimates that towards the end of 2027, more than 14 billion units of products developed by BFS technology will be sold across the globe. Among these, the sales of prefilled syringes & injectables will be considerably higher. Throughout the forecast period, nearly three-fourth of global BFS technology market value will be accounted by sales of prefilled syringes and injectables.
The report also projects a steadfast rise in adoption of polypropylene as raw material. By 2017, over US$ 1.1 Bn worth of BFS products sold in the global market will made from polypropylene. However, in terms of revenue share, the global market for BFS technology is anticipated to witness dominance of polyethylene materials. With more than 60% share on global revenues, polyethylene materials will be a widely-preferred raw material in the global blow fill seal technology market, however, their adoption will incur a marginal decline towards the latter half of the forecast period.
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North America – Largest Market for BFS Technology
A key highlight of the report reveals that pharmaceutical packaging is the outright dominant end-use of BFS technology. While the adoption of blow fill seal machines is likely to gain momentum in the food & beverage industry, pharmaceutical end-use of BFS technology will procure over 97% share on global market, throughout the forecast period. Thriving pharmaceutical sectors across countries such as the UK, Canada, India, China and the US are likely to boost the market's growth to a significant degree.
North America, in particular, is expected to dominate the market with over 35% share on global BFS technology revenues. Through 2027, North America's blow fill seal technology market will have soared at 9.8% CAGR in terms of value. Western Europe and the Asia-Pacific excluding Japan (APEJ) region will also be at the forefront of expansion of global BFS technology market. The report also profiles leading packaging companies employing BFS technology across the world. The key players in the global market for blow fill seal technology include Pharmapack Co. Ltd., Amanta Healthcare Ltd., Automatic Liquid Packaging Solutions LLC., Asept Pak, Inc. Unither Pharmaceuticals, Rommelag Kunststoff-Maschinen Vertriebsgesellschaft mbH, Catalent, Inc., Curida AS, Unipharma LLC., Weiler Engineering, Inc., GlaxoSmithKline plc., Takeda Pharmaceuticals International AG, Nephron Pharmaceuticals Corporation, Horizon Pharmaceuticals, Inc., Brevetti Angela S.R.L., Recipharm AB, SIFI S.p.A, Laboratorios SALVAT, S.A., The Ritedose Corporation, and Unicep Packaging, LLC.
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