Pharma Blister Packaging Market: A Comprehensive Study on Materials, Technologies, and Market Dynamics

Pharma Blister Packaging Market: A Comprehensive Study on Materials, Technologies, and Market Dynamics

The Pharma Blister Packaging Market is estimated to be valued at US$ 11.03 Bn or Billion in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Pharma blister packaging refers to a type of pre-formed plastic packaging used for tablets, capsules and other solid oral dosage forms. It consists of a plastic laminate that is heat sealed to seal the product inside. Blister packaging provides convenient, easy to handle and tamper evident packaging as compared to other packaging solutions. It ensures product protection and extended shelf life of drugs and medical devices.

Market key trends:
One of the key trends driving the growth of the pharma blister packaging market is the rising adoption of medical therapies such as vaccines, biologicals and biologics. According to a recent study, global biologics market is expected to cross US$ 500 billion by 2025. Biologics require specialized packaging solutions like blisters to maintain their efficacy and protect from contamination. Moreover, increasing demand for solid oral dosage forms of drugs and rising penetration of pharmaceutical drugs is propelling the demand for cost-effective and easy-to-use blister packaging. This coupled with technological advancements in packaging machinery to improve production efficiency of blister packs will continue to boost market revenues over the forecast period.

Porter’s Analysis

1. Threat of new entrants: The pharma blister packaging market has a moderate threat of new entrants due to the established players and high capital requirements for setting up manufacturing plants.

2. Bargaining power of buyers: Buyers have moderate bargaining power owing to the presence of numerous packaging solution providers and alternatives available in the market.

3. Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to the availability of raw material substitutes and competition among suppliers.

4. Threat of new substitutes: The threat of substitutes is low as pharma blister packaging offers durability, tamper evidence, and blisters provide moisture protection limiting product interactions.

5. Competitive rivalry: High due to the presence of numerous international and regional players competing on the basis of product portfolio, manufacturing capabilities, and price.

SWOT Analysis

1. Strength: Pharma blister packaging provides product protection, tamper evidence and easy dosing. It also allows for customized designs and sizes as per product needs.

2. Weakness: Blister foils made from aluminum and PVC can increase non-recyclability. Initial setup and tooling costs for blister packaging machines are high.

3. Opportunity: Growing generics market and increasing production of biologic drugs offer new opportunities. Rapid growth in emerging economies also provides scope for market expansion.

4. Threats: Stringent regulations associated with pharmaceutical packaging can hamper market growth. Rising raw material prices also pose a threat.

Key Takeaways

The global pharma blister packaging market is expected to witness high growth, exhibiting CAGR of 5.0% over the forecast period, due to rising pharmaceutical consumption and increasing demand for specialized packaging.

The largest and fastest growing regional market is Asia Pacific due to high population, increasing healthcare infrastructure, and rapidly growing pharmaceutical industry in countries like India and China.

North America also holds significant market share owing to well-established pharmaceutical industry and healthcare facilities in the US and Canada. Europe follows next due to large pharma manufacturing base and high healthcare index.

Key players operating in the pharma blister packaging market include Amcor Plc, Wonderpack group, Bilcare Limited, Sonoco Products Company, Honeywell International Inc., ACG Pharmapack Pvt. Ltd., West Rock Company, Constantia Flexibles GmbH, WINPAK LTD, Rohrer Corporation, Accupack, Nirmala Industries, etc. Major players focus on product innovation and capacity expansions to strengthen their global foothold.