by The Pharma Blister Packaging Market is estimated to be valued at US$ 24.1 billion in 2020 and is expected to exhibit a CAGR of 7.2% over the forecast period of 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Pharma blister packaging refers to the process of packing pharmaceutical products in blister packs, which are made up of a combination of plastic and aluminum foil. It provides tamper-evident packaging, protection from moisture, and extends the shelf life of medications. This packaging method is extensively used in the pharmaceutical industry due to its benefits, such as improving product stability and ensuring dosage accuracy. It also provides ease of handling, convenience in storage, and enhances the overall aesthetic appeal of the product.
Market Dynamics:
The pharma blister packaging market is primarily driven by the increasing demand for pharmaceutical products globally. The rising prevalence of chronic diseases, coupled with the growing geriatric population, is fueling the demand for medications, thereby boosting the market growth. Additionally, the growing focus on improving patient safety and adherence to medication regimens is further driving market growth. Moreover, the adoption of blister packaging by pharmaceutical manufacturers to comply with stringent regulatory requirements and ensure product integrity is also contributing to market growth.
Segment Analysis:
The pharma blister packaging market can be segmented based on product type, material type, and region. In terms of product type, the dominating segment is the cold form blister packaging. This segment is gaining popularity due to its ability to provide enhanced protection to the pharmaceutical products from external factors such as moisture, light, and oxygen. Additionally, cold form blister packaging offers better tamper evidence and better barrier properties, which makes it the preferred choice for pharmaceutical packaging.
PEST Analysis:
Political: The political factors impacting the pharma blister packaging market include regulations and policies related to packaging materials, labeling requirements, and safety standards.
Economic: The economic factors influencing the market include the increasing healthcare expenditure and rising pharmaceutical industry, which creates a demand for packaging solutions.
Social: The increasing awareness about the importance of safe and secure packaging among consumers is a social factor driving the market. Additionally, the growing aging population and the rising prevalence of chronic diseases are also fueling the demand for pharmaceutical products and packaging.
Technological: Technological advancements in terms of materials, printing techniques, and sterilization methods are driving the pharma blister packaging market. These advancements enable manufacturers to provide innovative and efficient packaging solutions.
Key Takeaways:
The Global Pharma Blister Packaging Market Size is expected to witness high growth, exhibiting a CAGR of 7.2% over the forecast period (2023-2030), due to increasing pharmaceutical industry and the need for safe and convenient packaging solutions.
In terms of regional analysis, Asia-Pacific is the fastest-growing and dominating region in the market. The region is experiencing rapid industrialization and urbanization, which is leading to increased healthcare spending and the growth of the pharmaceutical market. Additionally, the rising population and the rising prevalence of chronic diseases in countries like China and India are further driving the demand for pharma blister packaging.
Key players operating in the pharma blister packaging market include Amcor Plc, Wonderpack group, Bilcare Limited, Sonoco Products Company, Honeywell International Inc., ACG Pharmapack Pvt. Ltd., West Rock Company, Constantia Flexibles GmbH, WINPAK LTD, Rohrer Corporation, Accupack, Nichrome Packaging Solutions, Nirmala Industries, and more. These key players focus on product innovation, mergers and acquisitions, and expansion strategies to maintain their market position.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
