Global Blister Packs Market: Overview
Over the past few years, there has been a sharp rise in the demand for blister packs from the pharmaceutical industries. These packs are highly adopted across the industry owing to their merits such as durability, protection against environmental factors, tamper proof, and inexpensive. Blister packs that are opaque in nature also safeguard light sensitive products against UV radiations.
The rising prevalence of diseases, growing geriatric population, and changing consumer lifestyles are triggering the need for medicines, which in turn is working in favor of the global blister packs market. Stringent government regulations also play an imperative role in the growth of the market. For instance, as per the FDA regulations, all prescribed pharmaceuticals dispensed in nursing homes and hospitals must be packed in unit-dose formats with barcodes to curtail dispensing errors. This is augmenting the sales of blister packs.
The research report on the global blister packs market serves as a reliable business tool for existing as well as new players. It provides a detailed analysis and information regarding various critical aspects of the market including its dynamics, technology, and competitive landscape. It profiles the prominent players in the market along with their latest developments, business strategies, market shares, and contact information.
Global Blister Packs Market: Drivers and Restraints
With the flourishing growth of the global consumer goods industry, the global blister packs industry is likely to rake in a healthy share of the pie. The increasing demand for attractive and convenient packaging for consumer goods is augmenting the market. Moreover, the growing emphasis on reducing sizes of packaging is propelling the market.
On the other hand, the rising environmental concerns regarding the usage of plastics are adversely affecting the growth of the market. Furthermore, the unsuitability of blister packs for heavy items is limiting their widespread adoption. Nevertheless, the advent of bio-based plastics is opening new avenues for companies operating in the market. Moreover, the continuous efforts by manufacturers in the development of packages that are safer and provides better shelf life are creating ample growth opportunities for the market.
Global Blister Packs Market: Regional Segmentation
For a coherent understanding, the market is divided on the basis of geography into North America, Europe, Asia Pacific, and Rest of the World. North America will command a large share of the overall market throughout the forecast period. The presence of advanced and well-established end-user industries such as healthcare and pharmaceutical is driving the demand for blister packs in the region.
Europe will be a lucrative market during the same period owing to the increasing consumption of packed products, growing emphasis on packaging waste reduction, and continuous advancements and innovation in blister packaging. Stringent government regulations pertaining to the pharmaceutical industry are also fuelling the growth of the region. The growth of the Asia Pacific region can be attributed to the improving economic conditions in India and China coupled with the rising consumer disposable income. The presence of large consumer goods manufacturing facilities, particularly in China is providing a significant push to the growth of the region.
Global Blister Packs Market: Competitive Landscape
The global blister packs market is a fragmented arena. Several players aim to sustain the intense competition in the market by focusing towards the launch of new products and mergers and partnerships. Key players are increasingly investing in manufacturing facilities and acquiring distribution centers in lucrative regions. Some of the prominent players in the global blister packs market are Blisterpak Inc., VisiPak, Algus Packaging Inc, Powerpak Industries L.L.C., Clearwater Packaging Inc. and Blisters Inc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.