Pharma Blister Packaging Market Forecast: Growth Opportunities and Challenges

Pharma Blister Packaging Market Forecast: Growth Opportunities and Challenges

Pharma blister packaging involves packaging pharmaceutical products like capsules, tablets, etc. in cavitated plastic/aluminium/cellulosic film sheet with lid stock sealed over the cavities. It provides efficient protection to pharmaceutical products from contamination and damage while storage and transportation due to its robust tamper-evident and moisture-resistant sealing.

The global Pharma Blister Packaging Market is estimated to be valued at US$ 13.5 billion in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

The opportunity to protect pharmaceutical products from contamination and damage offered by pharma blister packaging is estimated to witness high growth in the market. Blister packaging provides reliable product protection through efficient sealing of active ingredients from external factors like moisture, oxygen, and microbes. It ensures the quality, safety and efficacy of medications are maintained throughout the supply chain. This is instrumental in gaining consumer confidence for pharmaceutical manufacturers. With increasing awareness about medication safety and stringent quality regulations, demand for robust blister packaging from pharmaceutical companies is growing significantly. This is expected to drive notable revenue opportunities for pharma blister packaging manufacturers over the forecast period.

Porter’s Analysis

Threat of new entrants: The pharma blister packaging market requires high initial capital investments and there are several stringent regulations for manufacturing. This poses significant barriers for new companies.

Bargaining power of buyers: The bargaining power of buyers in the pharma blister packaging market is high as there are many established players. Buyers can negotiate on price and demand better quality and service.

Bargaining power of suppliers: Major raw materials used in pharma blister packaging include various polymers, aluminum and paper/paperboard. The availability of these materials with global suppliers limits their bargaining power.

Threat of new substitutes: There exists a low threat of substitution as pharma blister packaging offers optimal protection and preservation of medicines along with tamper evidence features required by regulatory bodies.

Competitive rivalry: The pharma blister packaging market is consolidated with the top players accounting for majority share. Intense competition exists based on innovation, quality, and pricing.

SWOT Analysis

Strength: Pharma blister packaging helps extend shelf life of medicines, provides child safety features and allows for individual dosage. It offers optimal protection against moisture, gasses and microbial growth.

Weakness: Frequent design changes sought by pharmaceutical companies increases costs for packaging manufacturers. Raw material price volatility can impact profitability.

Opportunity: Growth in biologics and sterile packaging demand. Increased consumption of medicines in emerging markets of Latin America, Asia Pacific and Middle East & Africa provide new opportunities.

Threats: Stringent regulations surrounding packaging standards add compliance challenges. Environmental concerns around non-recyclability of materials used pose legislative threats.

Key Takeaways

The global pharma blister packaging market is expected to witness high growth over the forecast period of 2023-2030. The global Pharma Blister Packaging Market is estimated to be valued at US$ 13.5 billion in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023-2030.

Regional analysis: Asia Pacific dominates the global pharma blister packaging market and is projected to grow at the fastest rate during the forecast period. Factors such as rising generic drug consumption, growing medical tourism industry and increasing healthcare investments drive the regional market. Countries like China, India and South Korea will be the major revenue contributors.

Key players operating in the pharma blister packaging market are Amcor, Bemis Company, MeadWestvaco, Constantia Flexibles and Klockner Pentaplast. These players focus on new product launches, mergers, and facility expansions to strengthen their market presence. For instance, Amcor partnered with Catalent to develop integrated packaging solutions combining Amcor's pharmaceutical packaging expertise and Catalent's oral solid dosage development and commercialization capabilities.