Ampoules and Blister Packaging Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)


Posted April 29, 2021 by statzyreports

The ampoules and blister packaging market registered a CAGR of 7.49% over the forecast period 2021 - 2026.

 
- The rising need for product safety through tamper-evident packaging from manufacturers, consumer, and regulatory organizations, have been instrumental in the adoption of ampoules and blister packaging across the pharmaceutical and food industry.

- Also, the rising geriatric ages are increasing the consumption of medicines across the world. According to the Energy Source Outlook 2018, the proportion of the population above 65 years of age is expected to cross 14% by the year 2025 from over 10% in 2016.

- The cases of pharmaceutical counterfeits have been increasing year on year globally. The protection of pharmaceuticals is necessary for any company to retain its client, revenue growth, and brand reputation. WHO estimated 116 thousand deaths occurred due to pharmaceutical counterfeits in sub-Saharan Africa. Ampoules and blister packaging allow prevention from counterfeit tamper-evident incidences, driving the market growth for these packaging solutions.

- The use of innovative technologies in ampoules and blisters, such as radio frequency identification (RFID) tags, deployed with a seal applied outside the packaging, are growing, owing to the potential to provide individual security throughout supply chains. Also, the expansion of rural healthcare infrastructure is expected to drive the ampoules and blister packaging market over the forecast period.

- However, due to volatile raw material prices and stringent government regulations in certain end-user industries are limiting the adoption of ampoules and blister packaging market.

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Key Market Trends

Pharmaceutical and Healthcare Segment to Hold the Largest Share

- Strengthening compliance rates is a goal of the pharmaceutical industry, and ampoules and blister packaging have been shown to have a positive effect on patient compliance and medication adherence. Moreover, ampoules and blisters are highly valued for protective properties, adaptability, and cost-effectiveness, and requirements of the pharmaceutical & healthcare packaging industry.

- In the USA, 90% of the prescription have generic drugs but only generates 28% of the revenue of the pharmaceutical revenue resulting in increasing demand for protective packaging solutions.

- The global pharmaceutical sales have reached USD 982 billion in the year 2018 in which the united states lead with USD 464 billion followed by emerging markets like Asia-Pacific region.

- However, owing to increase diseases and infections, the demand for ampoules and blisters are compelling the manufacturers, to venture into new machinery to increase the production of the ampoules and blisters, thus, creating a significant investment challenge for them.

Europe Expected to Grow Significantly

- The increasing incorporation of sustainable materials, like green plastics and other biodegradable materials in the manufacturing of ampoules and blisters, is likely to provide significant momentum to the European ampoules and blisters market in the forecast period.

- This ready-to-use packaging solution facilitates pharmaceutical companies to react faster to new industry trends without building specific manufacturing capabilities. To serve the growing demand, major companies like SCHOTT invested EUR 12 million in a newly established manufacturing plant in Russia, which approximately serves 500 million vials and ampoules every year.

- The European community has stronger environmental incentives to use ampoules and blister packaging, because of the stringent regulations over the manufactures in using excess material in the packaging system. The use of ampoules and blister packaging allows manufacturers to reduce packages to a minimal size. In Europe, the UK pharmaceutical industry is one of the major engines of innovation and research.

- The industry spends billions on R&D and employs vast numbers for highly skilled R&D roles. These massive investments and the proportion of skilled workers employed show how the United Kingdom is building up the pipeline of medicines and future drugs. These active investments can be seen as an excellent opportunity for the growth of ampoules and blister packaging market in the country.

Competitive Landscape

The availability of several players providing ampoules and blister packaging solutions has intensified the competition in the market. Therefore, the market is moderately fragmented with many companies developing expansion strategies.

- Mar 2019 - Amcor Limited planned to acquire its rival Bemis Company Inc. By combining these two market leaders, Amcor aims to create a stronger value proposition for shareholders, customers, employees, and the environment.

- August 2018 - Keystone launched customizable blister packaging solution, a modified version of its Ecosite-RX prescription blister package to address the opioid epidemic in the United States. In an effort to combat dependency and overdoses, the design of the Ecoslide-RX allows doctors to prescribe smaller quantities of opioid medication via limited days of dosing presented in blister packs.

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Issued By Statzy Market Research
Country India
Categories Miscellaneous
Tags ampoules and blister packaging market , ampoules and blister packaging market forecast , ampoules and blister packaging market share , ampoules and blister packaging market size
Last Updated April 29, 2021