Blister packaging expected to be highest growing material for pharma products in North America
The global ampoules and blister packaging market was worth US$10.30bn in 2014 and is expected to rise to $14.81bn over the next five years at a compound annual growth rate (CAGR) of 6.24%, finds a new report from Indian market research company Mordor Intelligence.
The pharmaceutical packaging industry, particularly blister packs and glass ampoule packaging, is a highly fragmented market, with many players in catering to the varied requirements of pharmaceutical companies, the report finds. As a result, packaging suppliers are focusing on adopting new technologies to provide differentiation in their products, thus increasing their market share.
The report, Global Ampoules And Blister Packaging Market – By Packaging Materials, Geography and Vendors – Market size, Demand Forecasts, Industry Trends and Updates and Supplier Market Shares (2015–2020), says forming film accounts for 80–85% of the blister packaging, with lidding materials accounting for the remaining portion. Glass ampoules and vials, which held just 4% of the total glass bottles/containers market in 2014, are widely used for packaging pharmaceutical products.
It was estimated that in 2014, 85% of solid dose drugs were packaged using blisters in Europe; compared with 20% in the US. However, the North American market is witnessing a shift in usage of pharmaceutical packaging, with blister packaging expected to be the highest growing packaging material for pharmaceutical products, the report forecasts.
The Asia Pacific and Latin America regions are the fastest-growing for the glass ampoules packaging market due to an increase in expendable income in these countries.
The major segmentation in the report includes market estimates by type of ampoules packaging such as glass and plastic; type of blister packaging such as polypropylene (PP), polyethylene terephthalate (PET), and polyvinyl chloride (PVC).
It also provides an in-depth analysis of the ampoules and blister packaging market across North America, Europe, Asia Pacific, Middle East and Africa.