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Global Blister Packs Market Size, Share, Growth - Industry Trends and Forecast 2015 - 2023
Global Blister Packs Market: Overview
Over the past few years, there has been a sharp rise in the demand for blister packs from the pharmaceutical industries. These packs are highly adopted across the industry owing to their merits such as durability, protection against environmental factors, tamper proof, and inexpensive. Blister packs that are opaque in nature also safeguard light sensitive products against UV radiations.
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The rising prevalence of diseases, growing geriatric population, and changing consumer lifestyles are triggering the need for medicines, which in turn is working in favor of the global blister packs market. Stringent government regulations also play an imperative role in the growth of the market. For instance, as per the FDA regulations, all prescribed pharmaceuticals dispensed in nursing homes and hospitals must be packed in unit-dose formats with barcodes to curtail dispensing errors. This is augmenting the sales of blister packs.
The research report on the global blister packs market serves as a reliable business tool for existing as well as new players. It provides a detailed analysis and information regarding various critical aspects of the market including its dynamics, technology, and competitive landscape. It profiles the prominent players in the market along with their latest developments, business strategies, market shares, and contact information.
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Global Blister Packs Market: Drivers and Restraints
With the flourishing growth of the global consumer goods industry, the global blister packs industry is likely to rake in a healthy share of the pie. The increasing demand for attractive and convenient packaging for consumer goods is augmenting the market. Moreover, the growing emphasis on reducing sizes of packaging is propelling the market.
On the other hand, the rising environmental concerns regarding the usage of plastics are adversely affecting the growth of the market. Furthermore, the unsuitability of blister packs for heavy items is limiting their widespread adoption. Nevertheless, the advent of bio-based plastics is opening new avenues for companies operating in the market. Moreover, the continuous efforts by manufacturers in the development of packages that are safer and provides better shelf life are creating ample growth opportunities for the market.
Global Blister Packs Market: Regional Segmentation
For a coherent understanding, the market is divided on the basis of geography into North America, Europe, Asia Pacific, and Rest of the World. North America will command a large share of the overall market throughout the forecast period. The presence of advanced and well-established end-user industries such as healthcare and pharmaceutical is driving the demand for blister packs in the region.
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Europe will be a lucrative market during the same period owing to the increasing consumption of packed products, growing emphasis on packaging waste reduction, and continuous advancements and innovation in blister packaging. Stringent government regulations pertaining to the pharmaceutical industry are also fuelling the growth of the region. The growth of the Asia Pacific region can be attributed to the improving economic conditions in India and China coupled with the rising consumer disposable income. The presence of large consumer goods manufacturing facilities, particularly in China is providing a significant push to the growth of the region.
Global Blister Packs Market: Competitive Landscape
The global blister packs market is a fragmented arena. Several players aim to sustain the intense competition in the market by focusing towards the launch of new products and mergers and partnerships. Key players are increasingly investing in manufacturing facilities and acquiring distribution centers in lucrative regions. Some of the prominent players in the global blister packs market are Blisterpak Inc., VisiPak, Algus Packaging Inc, Powerpak Industries L.L.C., Clearwater Packaging Inc. and Blisters Inc.
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