Blister Pack Pharmaceutical Products Market
Blister Pack Pharmaceutical Products Market (Drug Type: Tablets and Capsules; Manufacturing Process: Cold Forming and Thermoforming; and End Use: Pharmaceuticals, Nutraceuticals and Supplements, and Veterinary Drugs) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030
Press Release :
Growing Emphasis on Improving Quality of Existing Packaging Alternatives to Aid Market Growth
Blister packaging has emerged as the gold standard packaging alternative by majority of market players operating in the pharmaceutical sector due to which, the global blister pack pharmaceutical products market has witnessed considerable growth over the past couple of decades. This trend is expected to continue in the upcoming decade. In the current day and age, safeguarding the quality of products and protection from external factors are imperative in the packaging space due to which, players operating in the current blister pack pharmaceutical products market are increasingly focusing on innovations to gain a competitive edge in the current market landscape.
A number of packaging solutions is currently being deployed by pharmaceutical companies to improve the shelf life of tablets, pills, and a range of pharmaceutical products, including PCTFE, PVC, and thermoform blisters. The demand for blister pack pharmaceutical products is on the rise, owing to favorable packaging designs and alignment with requirements of the current pharmaceutical packaging industry. At present, major to small-scale players involved in the current pharmaceutical sector are increasingly focusing on incorporating tamper-evident and safe packaging strategies. The type of blister pack pharmaceutical products continues to vary in accord with the nature of drug.
At the back of these factors, along with increasingly compliance with regulatory requirements, the global blister pack pharmaceutical products market is expected to grow significantly during the forecast period.
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Market Players Align Product Development Strategies with Current Requirements
In the current blister pack pharmaceutical products market landscape, market players are aiming toward the development of child-resistant packaging formats. The developed regions including North America and Europe are likely to be at the forefront in terms of market share and value owing to the robust regulatory structure and an organized pharmaceutical ecosystem. The rate at which blister pack pharmaceutical products has evolved in these regions over the past few years indicates that several market players operating in the current blister pack pharmaceutical products market are primarily focusing on research and development to produce products that are in line with the requirements of the industry.
At present, market players are also focusing on addressing various challenges related to boosting the shelf life of products, maximizing production efficiency, and catering to barriers across the value chain. Although traditional blister pack pharmaceutical products have gained worldwide acceptance across the pharmaceutical sector, shortcomings in this type of packaging, particularly in hostile conditions, could hamper the growth of the blister pack pharmaceutical products market during the forecast period.
Product Launch and Collaborations to Remain Key Growth Strategies
Players involved in the current blister pack pharmaceutical products market are expected to focus on forging strategic alliances and launching new blister pack pharmaceutical products to gain a competitive edge. Moreover, customization and deployment of new manufacturing techniques to improve quality and performance are expected to remain a key differentiating factor between top tier and lower tier companies. Recent trends indicate a rise in the number of collaborations between market players in the Asia Pacific region and Europe.
For instance, Amcor entered a partnership with GSK and a machine manufacturer in Italy, CAM-Partena, to produce a robust packaging solution that offers optimum protection for products that are highly sensitive to moisture. In 2019, Tekni-Films launched the SBC 240 polyvinylidene chloride (PVDC)-coated PE film that was particularly designed as a cost-efficient alternative to other existing products in the company’s product portfolio. While product launch and collaborations are likely to continue, market players are also anticipated to focus on the choice of materials to develop high-quality products.
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Surge in Demand for Multi-compartment Packaging Products amid COVID-19 Pandemic
The COVID-19 pandemic is expected to have a strong impact on the overall growth trajectory of the global blister pack pharmaceutical products market particularly in the first half of the assessment period. Due to the increasing fear and uncertainty pertaining to the nature of the virus and its mode of transmission in the first two quarters of 2020, players involved in the current pharmaceutical sector were compelled to explore most innovative and safe packaging alternatives. The significant rise in the demand for secondary and primary packaging in a range of drug formats, including capsules, syringes, and bottles, among others, is expected to provide a solid boost to the blister pack pharmaceutical products market amid the ongoing COVID-19 pandemic.
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The global blister pack pharmaceutical products market is expected to expand at a healthy CAGR of 6.7% during the forecast period. The market growth is primarily driven by factors such as growing emphasis on improving quality and performance of existing packaging alternatives, significant rise in research and development expenditure, and entry of new packaging technologies. Market players should focus on product development and forging strategic alliances with players in other regional markets to gain a competitive edge and expand their market share.
Blister Pack Pharmaceutical Products Market: Overview
- According to Transparency Market Research’s latest report on the global blister pack pharmaceutical products market for the forecast period of 2020-2030, the market is estimated to be driven by rising spending on research and development in the pharma sector coupled with increasing expenditure on healthcare
- The global blister pack pharmaceutical products market is expected expand by ~1.9x times to current market value with a CAGR of 6.7% during forecast period
Trend of Contract Manufacturing in Pharmaceutical Industry Bolster Market Growth
- Rising demand for extensive range of pharmaceutical drugs across the globe has pushed pharmaceutical companies to choose contract development manufacturing organization to fulfil end user demand
- Contract development and manufacturing organizations provide services associated with drug product development, active pharmaceutical ingredient (API) production, and packaging
- Contract manufacturing has established as best and feasible alternative to in-house development and manufacturing units of pharmaceuticals companies. Leading generic pharma companies operating in the global pharmaceutical market are rapidly increasing their outsourcing activities to reduce complexities of drug manufacturing, product, and packaging cost.
- The current trend of outsourcing in global pharmaceutical industry has driven the production volume of blister pack pharmaceuticals products. All these factors are likely to escalate the blister pack pharmaceutical products market growth during the forecast period.
Increasing R&D Activities and Spending in Pharma Sector Strengthen Market Growth
- Leading pharmaceutical companies operating in the global blister pack pharmaceutical products market are continuing to invest heavily in research and development to update and enhance their product pipeline. These companies are spending significantly on product development to retain competitive edge in the market.
- Furthermore, new era of medicine development and launching of new drugs have led to small size pharmaceutical companies to invest significantly in research and development. Rising research and development spending and activities across small as well as big size pharmaceutical companies is one of the vital factors behind launch of pharmaceutical drugs, especially oral drugs.
- Increasing spending on such research and development activities is estimated to accelerate the blister pack pharmaceutical products market growth during the forecast period
Asian Countries to Offer Lucrative Growth Opportunities
- Asian countries such as India and China are one of the largest providers of generic drugs globally. Pharmaceutical industry in Asia pacific region has witnessed remarkable growth in recent years and this trend is projected to continue over the next few years. This solid market growth is mainly driven by rising spending of middle class group on healthcare, increasing private sector investment in pharmaceutical R&D, and regional government initiatives for manufacturing pharmaceutical ingredients domestically.
- Furthermore, low production and packaging cost in Asian countries attracts major portion of manufacturers across the globe. Thus, prominent manufacturers of blister pack pharmaceutical products can target highly-potential Asia Pacific region to maximize their sales and profitability margins as well.
Blister Pack Pharmaceutical Products Market: Key Findings
- Based on manufacturing process, the thermoforming segment is projected to lead the overall blister pack pharmaceutical products market with more than 3/4th of the market share in 2020. Owing to its ability to pack and seal an extensive range of pharmaceutical tablets and capsules with low manufacturing cost and faster packaging speed, the segment will continue to drive the global blister pack pharmaceutical products market during the forecast period.
- As per the TMR analysis, pharmaceuticals is expected to be the most lucrative end-use segment for the blister pack pharmaceutical products market. The same segment is generating consistent demand for blister pack pharmaceutical products such as tablets & capsules and anticipated to hold more than 60% share of total market by the end of 2030.
- In terms of market share and revenue generation, the Asia Pacific region is anticipated to dominate the global blister pack pharmaceutical products market. Rising manufacturing output and packaging needs from the pharmaceutical industry in Asian countries is expected to offer substantial opportunities during the forecast period.
Blister Pack Pharmaceutical Products Market: Competition Landscape
- TMR analysed that the global blister pack pharmaceutical products market is highly competitive, owing to new start-ups and entry of local players. This completion among key players is carefully studied based on developments, strategies, and segmental revenue of companies over the past five years.
- The recent study on blister pack pharmaceutical products market includes profiles of players such as
- Pfizer Inc
- GlaxoSmithKline plc
- Roche Holding AG
- Novartis AG
- Johnson & Johnson
- Sun Pharmaceutical Industries Ltd
- Cadila Healthcare, etc.
- TMR differentiated these players as Tier 1, Tier 2 and Tier 3 as per their segmental earnings. Among these players, Pfizer Inc, Roche Holding AG, and Novartis AG have bene identified as Tier 1 players in blister pack pharmaceutical products market. The Tier 2 players are GlaxoSmithKline plc, Johnson & Johnson and Merck. Tier 3 players include Sun Pharmaceutical Industries Ltd, Cadila Healthcare, etc.
Consistent Demand for Pharma Products during COVID-19 Pandemic Drives Market
- Rapid spread of novel COVID-19 across the continents has disrupted the supply chain of manufacturing industries worldwide, thus impacting the packaging industry. However, pharmaceuticals packaging, especially the blister packaging segment, is witnessing considerable growth, as the demand for generic and branded medicines is on the rise. Consistent demand for pharmaceuticals tablets and capsules during the COVID-19 pandemic is projected to ensure remarkable market growth for blister pack pharmaceutical products in the near future.
- Rising COVID-19 cases, especially in American and European countries has created a significant demand for pharmaceuticals products and led pharmaceutical companies to raise theirs production bar. Rising production of medicines simultaneously uplift the demand for pharmaceutical packaging, including blister packaging. All these factors are likely to propel the blister pack pharmaceutical products market growth in the upcoming years.
Blister Pack Pharmaceutical Products Market – Scope of the Report
Transparency Market Research (TMR) started a new study on the global blister pack pharmaceutical products market, providing forecast for the period of 2020-2030. In the study, growth opportunity for the blister pack pharmaceutical products market is witnessed. The report provides valuable insights, which enable readers to make winning business decisions for future growth of their businesses. The report highlights significant factors that are constantly determining the growth of the blister pack pharmaceutical products market, untapped opportunities for manufacturers, trends and developments, and other insights across various key segments. Macroeconomic factors that are directly or indirectly affecting market growth are also incorporated in the report.
Key Questions Answered in TMR’s Blister Pack Pharmaceutical Products Market Report
- What will be market size for blister pack pharmaceutical products by the end of 2030?
- What will be the impact of COVID-19 on blister pack pharmaceutical products market?
- Which is the most preferred manufacturing process for packaging of blister packed pharmaceutical products in the global market?
- Which region will remain most lucrative for market growth?
- Which end use segment holds maximum market share of the global blister pack pharmaceutical products market?
- Who are major key players in the blister pack pharmaceutical products market?
Key indicators associated with the blister pack pharmaceutical products market have been calculated thoroughly in the report. The study enumerates vital market dynamics such as key drivers, challenges, and trends, along with opportunities in the global blister pack pharmaceutical products market. A comprehensive study on the value chain, which includes component suppliers, manufacturers, distributors, and end users have been incorporated in the global market report. Other key aspects laid down in the market include pricing strategy of leading market players and comparative analysis of blister pack pharmaceutical products. Furthermore, forecast factors and forecast scenarios of the blister pack pharmaceutical products market have been covered in the report to understand future prospects of the market.
A comprehensive evaluation and forecast on the blister pack pharmaceutical products market are provided on the drug type, manufacturing process, end use, and region.
Y-o-Y growth comparison, revenue comparison, and market share comparison of various market segments are provided in the report. The blister pack pharmaceutical products market is analyzed at both regional and country levels.
The report delivers an exhaustive assessment on the structure of the blister pack pharmaceutical products market, in tandem with a dashboard view of all leading company profiles in the report. Every company’s share analysis on market players have also been presented in the report, apart from the footprint matrix of profiled market players. The report depicts the presence of blister pack pharmaceutical products manufacturers by leveraging an intensity map. It also highlights key end users for blister pack pharmaceutical products.
The report includes company overview of key players. Some of the key companies profiled in the blister pack pharmaceutical products market report include Pfizer Inc, GlaxoSmithKline plc, Sanofi, Roche Holding AG, Novartis AG, Allergan, Johnson & Johnson, Merck, Sun Pharmaceutical Industries Ltd, Cadila Healthcare, etc.
A realistic methodology, along with a holistic approach makes the base for sharp insights, which are provided in the blister pack pharmaceutical products market for the study evaluation period. The TMR report comprises of detailed information on growth prospects, along with riveting insights into the forecast assessment of the market.
Extensive primary and secondary researches have been employed to garner keen insights into the forecast study of the blister pack pharmaceutical products market. The report has further undergone a cross-validation by in-house professionals to make the blister pack pharmaceutical products market report one-of-its-kind with the highest credibility.
Blister Pack Pharmaceutical Products Market – Segmentation
The global blister pack pharmaceutical products market has been bifurcated on the basis of drug type, manufacturing process, end use, and region. Each of these segments are analyzed to provide readers with holistic view of the market.