Press release
Blow Fill Seal (BFS) Technology Market: Increasing Usage in Pharmaceutical Industry to Boost Growth
Latin America blow fill seal (BFS) technology market is expected to provide many opportunities to market investors in the coming years owing to the escalating demand for pharmaceutical products. Transparency Market Research (TMR) has found that intense competition prevails in the market due to presence of various small and big vendors. Prominent players such as
Some of the prominent market players such as Unither Pharmaceuticals, Nephron Pharmaceuticals Corp., Takeda Pharmaceuticals International AG, Weiler Engineering Inc., Brevetti Angela S.R.L., Horizon Pharmaceuticals Inc., Unipharma LLC, and Rommelag Kunststoff-Maschinen Vertriebsgesellschaft mbH are focusing on product innovation to improve their product quality to stay competitive in the market. The competition among the players is expected to remain intense owing to arrivals of new products in market.
Transparency Market Research in a report estimated that the Latin America market for blow fill seal (BFS) technology was valued at US$205.5 mn in 2016. With a steady CAGR of 6.40% during the forecast period of 2016-2024, the market is expected to reach to the valuation of US$337.8 mn by the end of 2024.
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Geographically, Brazil has a dominating share in the market contributing to 43% share to the overall market. The rapid growth in pharmaceutical industry in this country is expected to assist Brazil sustain its leading position over the forecast period.
Convenient Packaging Solutions Provided by BFS Technology to Assist Market Growth
The blow fill seal technology finds its applications in various industrial segments such as personal care, cosmetics, food and beverages, and pharmaceuticals. Growth witnessed in these industries is has fuelled the demand for blow fill seal technologies in turn. However, the pharmaceuticals segment drives the market as it holds a leading share in the Latin America blow fill seal technology market. In the year 2015, the pharmaceutical industry held 98.4% of the Latin America market.
Researchers estimate that the growing demand for flexible and user-friendly containers in the pharmaceuticals industry will foster growth to the blow fill seal technology market. This technology avails sterile unit-doses, which are easy to use individually and are portable. These single doses are ideal solutions for use in wound care, antisepsis, rhinology, respiratory diseases, and ophthalmology. Furthermore, these single doses are very beneficial while dealing with highly potent compounds. Moreover, features such as minimal machinery footprints, high output rates, low production costs, and application-specific packaging designs are motivating consumers to demand for blow fill seal technology products.
Furthermore, the rising demand from the food and beverages industry in forecast to boost the market. The rising demand for nutritional and sports drinks is envisioned to assist the market bolster over the forecast period.
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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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