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Global Blister Packaging Market to Witness Growth Through 2020, Owing to Cost Reductions from Automation, Reports Technavio

Technavio Research
Posted on: 25 Oct 16

Technavio analysts forecast the global blister packaging marketto grow at a CAGR of close to 6% during the forecast period, according to their latest report.

The research study covers the present scenario and growth prospects of the global blister packaging marketfor 2016-2020. The global blister packaging market is segmented based on end users and geography. The report will cover the pharmaceutical industry as the primary end-user of blister packaging.

APAC is the fastest growing region in the global blister packaging market. Some of the major factors influencing market growth in this region are increased contract manufacturing, government initiatives, and the rise in sales of self-medication and over-the-counter (OTC) drugs. The sales of OTC medicine in Asia reached USD 43 billion in 2015, representing nearly one-third of the global OTC drug sales.

Request a sample report: http://www.technavio.com/request-a-sample?report=53897

Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

Technavio transportation and logistics analysts highlight the following three factors that are contributing to the growth of the global blister packaging market:

  • Cost reduction through automation
  • Increase in medical compliance rates
  • Growing demand from pharmaceutical industry

Cost reduction through automation

Manual blister packaging of drugs is expensive than automated blister packaging. On an average, it takes 1.5 minutes to manually fill and label a unit dose blister card, which has an average of 35 doses. The task generally involves the picking of the blister card, picking of blister insert, sealing the card and labeling the final product.

“Automation of blister packaging cuts down labor costs and time by 75% due to increased efficiency of the machines. For instance, Manrex (a Canada-based medical supplies manufacturer) and Pentpack (a blister machine manufacturer based in Belgium) developed a blister filling machine to automate the process of unit dose filling of blister packs,” says Sharan Raj, a lead analyst at Technavio for packagingresearch.

Pentpack BP500 is configured to fill a 28-day format blister packs. The machine will form the blister, provide area for the filling of blister, label the pack, apply the foil to the blister and separate each blister read for dispensing. The cost of production is significantly reduced for an automated blister filling machine, which is operated by a single technician as it results in five blisters per minute or 300 cards per hour compared with 300 cards in 7.5 hours when done manually.

Increase in medical compliance rates

Patient adherence to medications drops by 45%-50% within the first four months of therapy. This not only affects the sales of the pharmaceuticals but also has adverse effects on the individual's health. Manufacturers are developing compliance packaging, which includes blister packaging to increase compliance to medication.

Companies are increasingly adding compliance elements to packaging, which requires only 20%-25% of the costs. Compliance packaging is cheaper than consumer advertisements, mailing campaigns, and social media campaigns that cost around USD 800 million.

Companies design and manufacture pharma packaging formats such as blister packs to encourage and remind patients to take their daily dosage, thereby increasing the compliance rate by 20 times, fostering the market for blister packaging. “Blister packaging implemented by pharmaceutical companies improves refill rates of medication by 15%, and the medication compliance has increased by 30%,” says Sharan.

Growing demand from pharmaceutical industry

The global pharmaceutical packaging market is expected to reach USD 84 billion by 2020, growing at a CAGR of more than 6%. The packaging of pharma products is a complex process, demanding special care and attention, with different products having varying packaging requirements. The most important factor to be considered in all packaging modes is the preservation of medicines. Packaging materials are chosen according to the requirement of the medicines or the products to ensure product safety.

Blister packaging lowers packaging costs by almost 10% and even 50% in case of OTC drugs. Although selection and recommendation of pharmaceuticalproducts packaging is done by medical practitioners, drug manufacturers are increasingly adopting this type of packaging owing to the ease of use.

It is a highly adopted solution in Europe, accounting for packaging of more than 85% of solid drugs in the region. On the contrary, the market penetration in the US is still poor, i.e., below 20%.

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Do you need a report on a market in a specific geographical cluster or country but can’t find what you’re looking for? Don’t worry, Technavio also takes client requests. Please contact enquiry@technavio.com with your requirements and our analysts will be happy to create a customized report just for you.

About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20161024006402/en/

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Last updated on: 25/10/2016

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