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.
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.
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.
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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.
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 2024, 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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