Single Dose Packaging Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024
Albany, NY -- (SBWIRE) -- 10/11/2018 -- Single dose packaging was a result of constant innovation in the packaging industry and was initially developed to provide patients with safe and effective dispense of their medication. This form of packaging was considered safest, as there was no threat of refilling the prescription and it also reduced the cases of misdoses. These advantages together with changing lifestyle and increasing dominance of the modern style culture resulted in expanded applications for this product. Further, the convenience and portability features associated with this form of packaging also triggers the growth in demand for single dose packaging market.
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The growth in the single dose packaging market is primarily driven by the pharmaceutical industry. The stringent regulations in pharmaceutical industry related to product safety is expected to fuel the growth in demand for the single dose packaging market. Other factors such as rising number of working singles, increasing popularity of nuclear family concept also drives the growth in the personal care and food packaging, which further elevates the growth in the single dose packaging market. Meanwhile, the contradictory requirements like hard packaging to meet the child resistant standards and also easy to open feature can restrain the growth in the single dose packaging market.
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Geographically, the single dose packaging market can be segmented into North America, Latin America, Europe, Asia-Pacific (APAC) and Middle East & Africa (MEA). The global single dose packaging market is projected to grow at a healthy during the forecast period (2016 -2024). North America is expected to witness a strong growth in demand for single dose packaging market. Past initiatives like FDA mandate for single dose packaging in clinical trials in the U.S. due to compliance and regulations related to patient safety triggered the growth in the single dose packaging market in the U.S. Further, Asia Pacific is expected to experience the highest growth rates during the forecast period, primarily because of developing economies like India and China.
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The pharmaceutical, healthcare, personal care industries in these developing economies are witnessing huge growth rates because of rising young population, increasing disposable incomes, urbanization factors, which is expected to translate into healthy CAGR for single dose packaging market. Europe is expected to witness an above global average growth rates in the single dose packaging market due to rising demand in pharmaceutical industry and huge customer base for retail packaging industry.