Pharma Blister Packaging Market to Reach US$ 37.4 Billion by 2023, Exhibiting a CAGR of 7.2%: Coherent Market Insights
Pharma Blister Packaging Market to Reach US$ 37.4 Billion by 2023, Exhibiting a CAGR of 7.2%: Coherent Market Insights
Pharma Blister Packaging Market

Market Overview:
The global pharma blister packaging market is estimated to be valued at US$ 24.1 billion in 2020 and is projected to reach US$ 37.4 billion by 2023, exhibiting a CAGR of 7.2% during the forecast period 2023-2030. Pharma blister packaging refers to the packaging of medical products in blister packs, which provide tamper-evident and secure packaging solutions. Pharma blister packaging offers advantages such as protection against moisture, light, and oxygen, ensuring the integrity and stability of pharmaceutical products. The increasing need for safe and secure packaging solutions for pharmaceutical products to maintain product efficacy, as well as the growing demand for convenient and user-friendly packaging, is driving the growth of the pharma blister packaging market.

Market Key Trends:

One key trend in the pharma blister packaging market is the adoption of sustainable packaging solutions. With the increasing awareness about environmental concerns, pharmaceutical companies are focusing on reducing their carbon footprint and adopting eco-friendly packaging materials. Sustainable blister packaging materials, such as biodegradable plastics and recyclable materials, are gaining popularity in the market. These materials not only reduce environmental impact but also meet the stringent regulations imposed by regulatory authorities. The growing emphasis on sustainable packaging solutions is expected to drive the demand for eco-friendly blister packaging materials in the pharmaceutical industry.

Segment Analysis:

The pharmaceutical blister packaging market can be segmented based on packaging type, material type, and region.

By packaging type, the market can be categorized into blister cards, clamshells, and blister packs. Blister packs dominate the market segment, primarily due to their widespread use in the pharmaceutical industry. These packs provide protection from external factors such as moisture, light, and air, ensuring the integrity and longevity of the medication. Additionally, blister packs offer enhanced tamper-evident features, making them a preferred choice for pharmaceutical packaging.

Based on the material type, the market can be segmented into PVC, PVDC, and cold form foil. Among these materials, PVC is the most dominant segment due to its excellent protection against moisture, oxygen, and light. PVC blister packs are widely used for packaging solid oral dosage forms such as tablets and capsules.

Overall, the blister packs segment, particularly the PVC blister packs, dominates the pharmaceutical blister packaging market due to their extensive use in the pharmaceutical industry and superior protective properties.

Key Takeaways:

The Global Pharma Blister Packaging Market Size is expected to witness high growth, exhibiting a CAGR of 7.2% over the forecast period of 2023-2030. This growth can be attributed to several factors. Firstly, the increasing demand for pharmaceutical products, especially over-the-counter (OTC) medicines, is driving the need for efficient and convenient packaging solutions. Blister packs fulfill these requirements by providing easy access to the medication while ensuring its safety and efficacy.

Regionally, Asia-Pacific is projected to be the fastest-growing and dominating region in the pharmaceutical blister packaging market. The region's emerging economies, such as China and India, are witnessing significant growth in their pharmaceutical industries. This, coupled with the rising population and increasing healthcare expenditure, is fueling the demand for blister packaging. Additionally, the growing focus on patient compliance and the need for safe and secure packaging solutions further contribute to the region's dominance in the market.

Key players operating in the pharmaceutical 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, Nirmala Industries, and others. These key players capitalize on technological advancements to develop innovative blister packaging solutions that meet the specific needs of the pharmaceutical industry. Their strong distribution networks and extensive product portfolios enable them to maintain a significant market share in the pharmaceutical blister packaging market.

Read More- https://www.marketwebjournal.com/pharma-blister-packaging-market-size-demand-and-share-analysis/ 

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