Blister Pack Pharmaceutical Products Market During The Forecast Period 2020-2030

Posted by Dinesh on April 20th, 2021

Growing Emphasis on Improving Quality of Existing Packaging Alternatives to Aid Market Growth

Blister packaging has emerged as the gold standard packaging alternative by majority of market players operating in the pharmaceutical sector due to which, the global blister pack pharmaceutical products market has witnessed considerable growth over the past couple of decades. This trend is expected to continue in the upcoming decade. In the current day and age, safeguarding the quality of products and protection from external factors are imperative in the packaging space due to which, players operating in the current blister pack pharmaceutical products market are increasingly focusing on innovations to gain a competitive edge in the current market landscape.

A number of packaging solutions is currently being deployed by pharmaceutical companies to improve the shelf life of tablets, pills, and a range of pharmaceutical products, including PCTFE, PVC, and thermoform blisters. The demand for blister pack pharmaceutical products is on the rise, owing to favorable packaging designs and alignment with requirements of the current pharmaceutical packaging industry. At present, major to small-scale players involved in the current pharmaceutical sector are increasingly focusing on incorporating tamper-evident and safe packaging strategies. The type of blister pack pharmaceutical products continues to vary in accord with the nature of drug.

At the back of these factors, along with increasingly compliance with regulatory requirements, the global blister pack pharmaceutical products market is expected to grow significantly during the forecast period.

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Market Players Align Product Development Strategies with Current Requirements

In the current blister pack pharmaceutical products market landscape, market players are aiming toward the development of child-resistant packaging formats. The developed regions including North America and Europe are likely to be at the forefront in terms of market share and value owing to the robust regulatory structure and an organized pharmaceutical ecosystem. The rate at which blister pack pharmaceutical products has evolved in these regions over the past few years indicates that several market players operating in the current blister pack pharmaceutical products market are primarily focusing on research and development to produce products that are in line with the requirements of the industry.

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Product Launch and Collaborations to Remain Key Growth Strategies

Players involved in the current blister pack pharmaceutical products market are expected to focus on forging strategic alliances and launching new blister pack pharmaceutical products to gain a competitive edge. Moreover, customization and deployment of new manufacturing techniques to improve quality and performance are expected to remain a key differentiating factor between top tier and lower tier companies. Recent trends indicate a rise in the number of collaborations between market players in the Asia Pacific region and Europe.

Surge in Demand for Multi-compartment Packaging Products amid COVID-19 Pandemic

The COVID-19 pandemic is expected to have a strong impact on the overall growth trajectory of the global blister pack pharmaceutical products market particularly in the first half of the assessment period. Due to the increasing fear and uncertainty pertaining to the nature of the virus and its mode of transmission in the first two quarters of 2020, players involved in the current pharmaceutical sector were compelled to explore most innovative and safe packaging alternatives. The significant rise in the demand for secondary and primary packaging in a range of drug formats, including capsules, syringes, and bottles, among others, is expected to provide a solid boost to the blister pack pharmaceutical products market amid the ongoing COVID-19 pandemic.

Blister Pack Pharmaceutical Products Market: Overview

• According to Transparency Market Research’s latest report on the global blister pack pharmaceutical products market for the forecast period of 2020-2030, the market is estimated to be driven by rising spending on research and development in the pharma sector coupled with increasing expenditure on healthcare
• The global blister pack pharmaceutical products market is expected expand by ~1.9x times to current market value with a CAGR of 6.7% during forecast period

Increasing R&D Activities and Spending in Pharma Sector Strengthen Market Growth

• Leading pharmaceutical companies operating in the global blister pack pharmaceutical products market are continuing to invest heavily in research and development to update and enhance their product pipeline. These companies are spending significantly on product development to retain competitive edge in the market.
• Furthermore, new era of medicine development and launching of new drugs have led to small size pharmaceutical companies to invest significantly in research and development. Rising research and development spending and activities across small as well as big size pharmaceutical companies is one of the vital factors behind launch of pharmaceutical drugs, especially oral drugs.
• Increasing spending on such research and development activities is estimated to accelerate the blister pack pharmaceutical products market growth during the forecast period

Trend of Contract Manufacturing in Pharmaceutical Industry Bolster Market Growth

• Rising demand for extensive range of pharmaceutical drugs across the globe has pushed pharmaceutical companies to choose contract development manufacturing organization to fulfil end user demand
• Contract development and manufacturing organizations provide services associated with drug product development, active pharmaceutical ingredient (API) production, and packaging