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Cold Form Blister Packaging Global Market Expected Growth To USD 8.63 billion by 2024

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Cold Form Blister Packaging Global Market Expected Growth To USD 8.63 billion by 2024

Cold Form Blister Packaging Global Market Expected Growth To USD 8.63 billion by 2024

Cold Form Blister Packaging Global Market Expected Growth To USD 8.63 billion by 2024

According to a new report by Grand View Research, Inc., the cold form blister packaging market is expected to reach USD 8.63 billion by 2024 worldwide. The rising utilization of packaging materials that offers optimal protection and safety allowing to extend product shelf life is projected to boost market demand over the forecast period.

 

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Cold form blister packs help to provide an impermeable barrier to moisture, light, oxygen, and other such gasses. It also maintains the product integrity, offers complete protection proving to show high patient compliance rate.

Some of the key drivers influencing the market growth in this area are growing packaging demand from the pharmaceutical industry and high requirement of cold forming packs owing to favorable product features.

The report reveals that growing disposable income globally coupled with improved medical facilities and initiatives adopted by governments to promote healthcare programs has led a significant rise in demand for cold form foil packaging products.

 

Further highlights from the report suggest:

 

  • Healthcare broadly prefers utilizing cold forming packaging materials; this segment accounted for 48.30% of the market volume in 2015. It is used for sealing many products like tablets, capsules, drugs, vials, ampoules, syringes or liquid products. Child-resistant, tamper evident, senior friendly and anti-counterfeit packaging are in high demand worldwide.

 

  • Innovative pharmaceutical packaging is designed and modified to keep pharmaceuticals & medical devices free from all adverse external factors that modify the physical and chemical properties, biological contamination, degradation, mechanical damage, and counterfeiting.

 

  • The Asia Pacific region is projected to grow at the highest CAGR of over 7.8% on account of the growing demand for healthcare and electronics & semiconductors products in China, Japan, and India. Rising consumers’ necessity for convenience and better sealing features, demand for wide range of product portfolio and improved environmental standards are accelerating the demand for cold form blister packaging.

 

For more information: Download the full report

 


 

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2017-05-23T17:48:01+00:00

About the Author:

The PharmaCMC Journal editorial team is made up of a panel of experienced pharmaceutical engineers, scientists, procurement managers and content specialists. We focus on valuable content that solves the everyday challenges facing pharma professionals interested in sourcing pharmaceutical machines and equipment from peer recommended suppliers who meet the modern "Quality by Design" QbD and "Risk Based Design" requirements and specifications.