Global Blister Packaging Market: Key Highlights
Global Blister Packaging Market: Key Market Dynamics
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Global Blister Packaging Market: Regional Overview
Europe is anticipated to dominate the blister packaging market during the forecasted period. This is attributed to robust production coupled with exports of pharmaceutical products in the region. For instance, according to the European Commission, in 2016 Europe was the largest trader in medical and pharmaceutical products with exports valued at USD 171.2 billion in 2016. Moreover, the governments in the regions focus on spending majorly in research & development in the pharmaceutical sector. These ongoing investments can be perceived as an excellent opportunity for growth of blister packaging.
The Asia-Pacific blister packaging market is anticipated to grow at a sustainable growth rate during the forecasted period. This has attributed to the growing pharmaceutical industry in emerging countries such as India, China, and others. Some of the major players are actively considering the various countries in the region for drug manufacturing owing to low labor cost, encouraging government initiatives, and easy availability of skilled labor & resources. Thus, increasing drug manufacturing facilities in the region has expected to drive the market growth in the region.
Global Blister Packaging Market: Key Players Overview
Amcor plc is engaged in developing and producing responsible packaging solutions for various applications such as beverage, food, healthcare, home care, persona care, pet care, and technical application. Amcor plc operates through two business segments namely Flexible packaging, and rigid packaging. The company has 250 manufacturing sites located in more than 40 countries across the globe. In June 2019, Amcor plc in partnership with GSK and machine manufacturer CAM-Partena developed a Formpack Dessiflex Ultra, a desiccated blister system with a special lidding foil. This development will help to enhance the moisture protection to medicines packaging and offers an improved experience for patients.
WestRock Company is a US-based company engaged in providing differentiated paper and packaging solution. The company majorly operated through three business segments: corrugated packaging, consumer packaging, and land & development. WestRock Company operates through subsidiaries located in North America, South America, Europe, and Asia Pacific region. The company generated net sales of USD 18.2 billion in 2019.
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