July 25, 2024
Pharma Blister Packaging Market

Growing Demand for Pharma Blister Packaging Market Drives Growth

The global Pharma Blister Packaging Market is estimated to be valued at US$ 10.5 Bn in 2023 and is expected to exhibit a CAGR of 6% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Pharma blister packaging refers to the packaging method that involves the use of pre-formed plastic blisters to enclose pharmaceutical products. This packaging method provides numerous advantages, including protection against environmental factors such as moisture, light, and oxygen. It also ensures product integrity, tamper-evidence, and extended shelf life. The increasing demand for pharmaceutical products, coupled with the need for product safety and compliance with regulatory standards, is driving the growth of the pharma blister packaging market.

Market key trends:
One key trend in the pharma blister packaging market is the use of sustainable materials. Manufacturers are increasingly adopting eco-friendly materials for blister packaging to reduce their environmental footprint and meet the growing consumer demand for sustainable packaging solutions. Sustainable materials, such as biodegradable plastics and recycled paperboard, offer similar protective properties as conventional materials while being more environmentally friendly. This trend aligns with the growing focus on sustainability across various industries, including pharmaceuticals, and is expected to further drive the growth of the pharma blister packaging market in the coming years.

Segment Analysis:

The pharma blister packaging market can be segmented based on type of material, type of technology, and end use. In terms of material, plastic is the dominant segment in the market due to its cost-effectiveness, versatility, and ease of handling. Plastic blister packaging offers excellent barrier properties, protection against moisture and oxygen, and tamper-evident features, making it ideal for pharmaceutical products. Additionally, the growing demand for sustainable packaging materials is driving the adoption of biodegradable plastics in the pharma blister packaging market.

In terms of technology, the thermoforming segment dominates the pharma blister packaging market. Thermoforming allows manufacturers to produce blister packs in various shapes and sizes, catering to the diverse packaging needs of pharmaceutical products. The technology also offers advantages such as high production speeds, low production costs, and efficient use of materials. Furthermore, the increasing demand for customized packaging solutions and the need for product differentiation are driving the growth of the thermoforming segment.

End use is another important segment in the pharma blister packaging market. The pharmaceutical industry is the major end user of blister packaging, accounting for a significant market share. Blister packs are widely used for packaging tablets, capsules, and other solid dosage forms in the pharmaceutical sector. The advantages of blister packaging, such as product protection, ease of administration, and patient compliance, have contributed to its dominance in this industry.

Key Takeaways:

The Global Pharma Blister Packaging Market Size is expected to witness high growth, exhibiting a CAGR of 6% over the forecast period of 2023-2030. This growth can be attributed to several factors, including the increasing demand for pharmaceutical products, the need for efficient packaging solutions, and the growing focus on patient safety. The pharmaceutical industry’s shift towards unit dose packaging and the rising adoption of blister packaging by generic drug manufacturers are further driving market growth.

In terms of regional analysis, Asia Pacific is the fastest-growing and dominating region in the pharma blister packaging market. The region has witnessed significant growth in the pharmaceutical industry, driven by factors such as increasing population, rising healthcare expenditure, and growing access to healthcare facilities. Additionally, the presence of major pharmaceutical manufacturers and packaging companies in countries like China and India is contributing to the region’s market dominance.

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, and Nirmala Industries, among others. These key players are focusing on product innovation, strategic collaborations, and mergers and acquisitions to gain a competitive advantage in the market. The growing demand for sustainable packaging solutions and the need for customized packaging are key factors driving the competition among these players.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it