Published on : Dec 19, 2017
ALBANY, New York, December 19, 2017: ResearchMoz.us has recently added a new report, titled, “Blister Packaging Market: North America to Lead in Terms of Both Value & Volume During the Forecast Period: Global Industry Analysis (2012 - 2016) & Opportunity Assessment (2017 - 2027).”According to the report, the global blister packaging market will be worth US$18 bn by 2027 expanding at a 6.3% CAGR between 2017 and 2027. Blister packaging is gaining popularity on account of their smart features such as the ability to track whether the pills have been taken timely, as many of these blister packages today are being linked with sensors which alert patients about their dose in their smartphones. This, in turn, reduces medication errors because the accuracy of dose is very important. Another factor driving the adoption of blister packaging is the fact that they are an aseptic solution. Blister packaging is ideal sealing agents for microbes. Thus, blister packaging offers a reliable solution for pills.
However, there are several drawbacks of blister packaging which is expected to restrict the growth of this Market in the near future. It is very easy to peel the thin film of blister packs and this could lead to unintentional poisoning of children as children can easily access the condensed. Increasing incidences of non-fatal poisoning in children on account of consumption of medicines as unwrapping the medicine s very easy will also hamper the demand for blister packaging. The market for blister packaging is receiving strong competition from parental flexible Solutions. Another Factor which is acting as a growth barrier is the fact that blister packaging cannot be used for heavy products and this is limiting the application of blister packaging, thereby hampering the growth of the overall market.
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North America is currently leading in the market and is expected to continue to expand at a fast pace and be worth US$6 bn by 2027. The US is a key contributor to the North American blister packaging Market accounting for 88.1% of the total Market. It is the food and pharmaceutical industry in the US which is expected to drive the demand for blister packaging. Canada is also expected to contribute to the market in North America and expand at a 6.3% CAGR between 2017 and 2027.
Impressive growth has also been seen in Asia Pacific excluding Japan region as this region has become an epicenter for the manufacturing of various leading drugs on account of the low cost of labor and increasing efforts and initiatives taken by governments to encourage local manufacturing of drugs. The easy availability of resources and skilled labor will make APEJ, a feasible region for drug manufacturers. This, in turn, translates well for the blister packaging market in APEJ. Manufacturers within the region are producing blister packs from recyclable material making blister packaging and eco-friendly form of packaging. While China is the largest market for this form of packaging in APEJ, India will also witness a high growth rate. Overall, the APEJ blister packaging market is anticipated to exhibit a 6.2% CAGR between 2017 and 2027.
Manufacturers within the blister packaging Market are launching various new products which in turn is helping them to improve their Market visibility on a global scale. Several manufacturers in developing nations are making use of conventional material for packaging which in turn can pose serious health issues. The cost-effectiveness of convention material is the reason behind the selection of these materials by manufacturers, however with an increasing number of health-conscious people switching to safer materials, manufacturers will soon get the queue and make use of safe materials for packaging.
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