Global Blister Packaging Market to Surpass Valuation of US$ 18 Bn by 2027
The global blister packaging market is forecasted to progress on a positive growth trajectory through the forecast period, according to a new market study by XploreMR. The growth of the market is majorly attributed to the rising prevalence of diseases and increased production of pharmaceuticals. Furthermore, stringent regulation by the FDA in the US, coupled with changing consumer lifestyles are equally contributing to the growth of the market.
Besides, blister packagings are finding significant adoption among pharmaceuticals owing to their durability, affordability, resistance to heat and tampering, and affordability. Moreover, increased demand for convenient and attractive packaging in the consumer goods sector is also fuelling the growth of the market. Likewise, blister packaging is expected to gain prominence in the years to come on the back of increasing emphasis on reducing sizes of packaging. On the back of the aforementioned factors, the global blister packaging market is forecasted to surge past valuation of US$ 18 Bn by the end of 2027, progressing at a CAGR of 6.3%.
Stringent Regulations and Rising Prevalence of Diseases Fosters Market Growth
The global blister packaging market is estimated to grow at a healthy pace driven by untapped opportunity in the pharmaceutical sector. Innovation and development in this packaging will facilitate product tracking on smartphones and remind patients to take medicines on time. In order to enable disabled and blind people to identify the details printed on blister packs or identify drug specifications, manufacturers need to focus on blister packaging solutions that has attributes which enable users to get basic information about products, easily.
Penetration of Smart Packaging to Emerge as Trend
One of the key trends in the market is the increasing penetration of smart packaging. Smart packaging is especially in demand from the pharmaceutical sector as it offers ease and convenience for consumers. The tamper resistance and barrier properties will also increase the adoption of this form of packaging. Due to all these reasons, the global blister packaging market will witness a high growth and reach an evaluation of US$18 bn by 2027, exhibiting a 6.4% CAGR from 2017 to 2027.
Lack of Preference for Heavy Products to Limit Application of Blister Packaging
Blister Packaging Market:Global Industry Analysis (2012 - 2016) & Opportunity Assessment (2017 - 2027)Buy Now
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