DUBLIN, October 25, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Blister Packaging Market 2016-2020" report to their offering.
The analysts forecast the global blister packaging market to grow at a CAGR of 5.81% during the period 2016-2020.
Global Blister Packaging Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Growing environmental concerns is one of the trends spurring growth for the market. Increasing environmental concerns among packaging and consumer product manufacturing companies globally are driving the need to develop green and sustainable packaging solutions. Increasing regulations on carbon emissions, recycling, and use of raw materials are forcing vendors to develop eco-friendly blister packs. Such advances are expected to reduce the amount of energy, water, and raw materials consumed during the manufacturing processes, which is expected to drive this market's growth during the forecast period.
According to the report, increase in medical compliance rates is a key driver aiding to the growth of this market. 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 looking to 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.
Further, the report states that competition from other forms of packaging is a major challenge the market is facing. Folding cartons, strip packs, bubble packs, skin packaging, plastic bottles and tubes, pouches, windowed packaging, trays, containers, and clamshell packaging are some of the alternative packaging options available for pharmaceuticals, medical devices, food, and other consumer goods. Different types of packaging options offer various features and performance benefits. Increased innovation and product offerings by vendors of other packaging products also attract consumers.
Furthermore, blister packaging will face stiff competition from pre-fillable syringes during the forecast period. The popularity of pre-fillable syringes can be attributed to their pre-measured dosage, which reduces dosing errors, thereby accentuating patient compliance.
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Market research methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Market segmentation by raw material
Part 07: Geographic segmentation
Part 08: Market drivers
Part 09: Impact of drivers
Part 10: Market challenges
Part 11: Impact of drivers and challenges
Part 12: Market trends
Part 13: Vendor landscape
Part 14: Appendix
For more information about this report visit http://www.researchandmarkets.com/research/tbml6j/global_blister
Research and Markets
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SOURCE Research and Markets