March 1, 2024

The rapid adoption of biologics is anticipated to open up new avenue for Pharma Blister Packaging Market

Pharma blister packaging refers to packaging solution used for tablets, capsules and other solid oral dosage forms. It provides consumer convenience, improves product visibility and safety, and extends product shelf life. Blister packs are preferred for pharmaceutical packaging due to ease of use, tamper evidence, and ability to provide product information. Common types of blister packs include clamshell blisters, cold form blisters, and PVC blisters. They are used for packaging numerous prescription and OTC drugs across different therapeutic classes.

The Pharma Blister Packaging Market is estimated to be valued at US$ 11.03 Bn or Mn in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
Two major drivers projected to accelerate the growth of pharma blister packaging market during the forecast period include rapid adoption of biologics and self-administration of drugs. With the increasing demand for biologics, there is corresponding rise in need for specialized packaging that can provide product protection and extended shelf life. Blister packs are well-suited for biologics packaging due to their moisture and gas barrier properties. In addition, self-administration and home healthcare trends have increased the demand for user-friendly packaging like blister packs. They allow easy removal of doses and adherence to medications. Rapid urbanization and busy lifestyle have further augmented the demand for convenient packaging like pharma blisters. However, stringent regulations associated with pharmaceutical packaging may hinder the market growth.

Segment Analysis
The pharma blister packaging market is dominated by the rigid plastic packaging sub-segment. This sub-segment holds the largest market share due to rising demand for tamper-proof and moisture-proof packaging from pharmaceutical manufacturers. Rigid plastic packaging offers excellent stability for medicinal products and protects them from damage during transportation and storage.

PEST Analysis

  • Political: Stringent regulations regarding pharmaceutical packaging across regions ensure optimal product quality and safety throughout the packaging and distribution system.
  • Economic: Developing markets in Asia Pacific are driving higher volume growth in pharma packaging. Factors like rising income levels, healthcare reforms, and growing elderly population continue to boost pharmaceutical consumption.
  • Social: Increasing awareness about healthcare and rise in lifestyle diseases like diabetes are key factors augmenting the consumption of medicines globally and thereby increasing demand for pharmaceutical packaging from contract packagers and drug makers.
  • Technological: Automation and robotics are improving production efficiency of blister packaging line. Technological innovations like track and trace solutions are enhancing supply chain transparency and inventory management.

Key Takeaways

The global pharma blister packaging market size was valued at US$ 11.03 Bn in 2023 and is expected to reach over US$ 18.05 Bn by 2030, expanding at a CAGR of 5.0% during 2023 – 2030. Growth of the pharmaceutical industry and rising requirement for convenient packaging to ensure drug safety and effectiveness are some of the key factors propelling market revenue growth.

The Asia Pacific region dominated the global market in 2023 and is likely to witness the highest CAGR over the forecast period. Factors such as growing pharmaceutical manufacturing industry, increasing healthcare expenditure, and rising disposable income in India and China are fueling business expansion in the APAC pharma blister packaging market.

Regional analysis
The Asia Pacific pharma blister packaging market is projected to register the highest CAGR of over 6% during the study period, with China, India, and Japan being the major revenue contributors. Presence of a large patient pool and increasing government focus on healthcare infrastructure development are driving the Asia Pacific market.

Key players operating in the pharma blister packaging market are 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, Nirmala Industries, etc. The market players focus on new product launches, acquisitions, and strategic collaborations to gain a competitive edge in the market.