Blister Pack Pharmaceutical Products Market Current & Future Trends Along with Upcoming Opportunities By 2030

Transparency Market Research (PRNewsfoto/Transparency Market Research)

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.

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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.

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.

At present, market players are also focusing on addressing various challenges related to boosting the shelf life of products, maximizing production efficiency, and catering to barriers across the value chain. Although traditional blister pack pharmaceutical products have gained worldwide acceptance across the pharmaceutical sector, shortcomings in this type of packaging, particularly in hostile conditions, could hamper the growth of the blister pack pharmaceutical products market during the forecast period.

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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.

For instance, Amcor entered a partnership with GSK and a machine manufacturer in Italy, CAM-Partena, to produce a robust packaging solution that offers optimum protection for products that are highly sensitive to moisture. In 2019, Tekni-Films launched the SBC 240 polyvinylidene chloride (PVDC)-coated PE film that was particularly designed as a cost-efficient alternative to other existing products in the company’s product portfolio. While product launch and collaborations are likely to continue, market players are also anticipated to focus on the choice of materials to develop high-quality products.

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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 2022, 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.

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Analysts’ Viewpoint

The global blister pack pharmaceutical products market is expected to expand at a healthy CAGR of 6.7% during the forecast period. The market growth is primarily driven by factors such as growing emphasis on improving quality and performance of existing packaging alternatives, significant rise in research and development expenditure, and entry of new packaging technologies. Market players should focus on product development and forging strategic alliances with players in other regional markets to gain a competitive edge and expand their market share.

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 2022-2030, 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

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
  • Contract manufacturing has established as best and feasible alternative to in-house development and manufacturing units of pharmaceuticals companies. Leading generic pharma companies operating in the global pharmaceutical market are rapidly increasing their outsourcing activities to reduce complexities of drug manufacturing, product, and packaging cost.
  • The current trend of outsourcing in global pharmaceutical industry has driven the production volume of blister pack pharmaceuticals products. All these factors are likely to escalate the blister pack pharmaceutical products market growth during the 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

Asian Countries to Offer Lucrative Growth Opportunities  

  • Asian countries such as India and China are one of the largest providers of generic drugs globally. Pharmaceutical industry in Asia pacific region has witnessed remarkable growth in recent years and this trend is projected to continue over the next few years. This solid market growth is mainly driven by rising spending of middle class group on healthcare, increasing private sector investment in pharmaceutical R&D, and regional government initiatives for manufacturing pharmaceutical ingredients domestically.
  • Furthermore, low production and packaging cost in Asian countries attracts major portion of manufacturers across the globe. Thus, prominent manufacturers of blister pack pharmaceutical products can target highly-potential Asia Pacific region to maximize their sales and profitability margins as well.

Blister Pack Pharmaceutical Products Market: Key Findings

  • Based on manufacturing process, the thermoforming segment is projected to lead the overall blister pack pharmaceutical products market with more than 3/4th of the market share in 2022. Owing to its ability to pack and seal an extensive range of pharmaceutical tablets and capsules with low manufacturing cost and faster packaging speed, the segment will continue to drive the global blister pack pharmaceutical products market during the forecast period.
  • As per the TMR analysis, pharmaceuticals is expected to be the most lucrative end-use segment for the blister pack pharmaceutical products market. The same segment is generating consistent demand for blister pack pharmaceutical products such as tablets & capsules and anticipated to hold more than 60% share of total market by the end of 2030.
  • In terms of market share and revenue generation, the Asia Pacific region is anticipated to dominate the global blister pack pharmaceutical products market. Rising manufacturing output and packaging needs from the pharmaceutical industry in Asian countries is expected to offer substantial opportunities during the forecast period.

Blister Pack Pharmaceutical Products Market: Competition Landscape

  • TMR analysed that the global blister pack pharmaceutical products market is highly competitive, owing to new start-ups and entry of local players. This completion among key players is carefully studied based on developments, strategies, and segmental revenue of companies over the past five years.
  • The recent study on blister pack pharmaceutical products market includes profiles of players such as
    • Pfizer Inc
    • GlaxoSmithKline plc
    • Sanofi
    • Roche Holding AG
    • Novartis AG
    • Allergan
    • Johnson & Johnson
    • Merck
    • Sun Pharmaceutical Industries Ltd
    • Cadila Healthcare, etc.
  • TMR differentiated these players as Tier 1, Tier 2 and Tier 3 as per their segmental earnings. Among these players, Pfizer Inc, Roche Holding AG, and Novartis AG have bene identified as Tier 1 players in blister pack pharmaceutical products market. The Tier 2 players are GlaxoSmithKline plc, Johnson & Johnson and Merck. Tier 3 players include Sun Pharmaceutical Industries Ltd, Cadila Healthcare, etc.

Consistent Demand for Pharma Products during COVID-19 Pandemic Drives Market

  • Rapid spread of novel COVID-19 across the continents has disrupted the supply chain of manufacturing industries worldwide, thus impacting the packaging industry. However, pharmaceuticals packaging, especially the blister packaging segment, is witnessing considerable growth, as the demand for generic and branded medicines is on the rise. Consistent demand for pharmaceuticals tablets and capsules during the COVID-19 pandemic is projected to ensure remarkable market growth for blister pack pharmaceutical products in the near future.
  • Rising COVID-19 cases, especially in American and European countries has created a significant demand for pharmaceuticals products and led pharmaceutical companies to raise theirs production bar. Rising production of medicines simultaneously uplift the demand for pharmaceutical packaging, including blister packaging. All these factors are likely to propel the blister pack pharmaceutical products market growth in the upcoming years.

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