NEW YORK, March 31, 2021 /PRNewswire/ --
The blister packaging market in US is expected to grow by USD 1.56 billion during 2020-2024, expanding at a CAGR of almost 9%. The report throws light on the impact of the COVID-19 pandemic on the market and the new opportunities and challenges market players can expect.
Blister packaging reduces the cost of the packaging of OTC drugs by half. They ensure low-cost packaging that is tamper-proof and offers good protection. This has increased the use of blister packaging in the pharmaceutical industry. With the growing demand for drugs for various diseases and disorders, the demand for blister packaging is expected to increase significantly over the forecast period.
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In this report, Technavio highlights the growing pharmaceutical industry as one of the key emerging trends in the blister packaging market in US.
Blister Packaging Market in US: Growing Pharmaceutical Industry
The rising prevalence of various chronic diseases in the US has increased the demand for drugs. This is encouraging drug manufacturers to introduce newer drugs with improved efficacies. Besides, the market has witnessed a significant increase in the number of drug approvals by the FDA over the past few years. All these factors are contributing to the growth of the pharmaceutical industry in the US, which, in turn, is driving the market in focus.
"Growing unit-dose packaging and increased healthcare expenditure in the US will further boost market growth during the forecast period", says a senior analyst at Technavio.
Blister Packaging Market in US: Segmentation Analysis
This market report segments the blister packaging market in the US by technology (thermoforming and cold forming) and component (forming film and lidding material).
The thermoforming blister packaging segment led the blister packaging market in 2019. The dominance of the segment can be attributed to the benefits of the thermoforming blister packaging such as improved space productivity compared to other types of packaging.
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Related Reports on Materials Include:
Global Pharmaceutical Packaging Market – Global pharmaceutical packaging market is segmented by product (plastic bottles, caps and closures, blister packs, pre-fillable syringes, and others), material (rigid plastic, flexible plastic, glass, and others), geography (North America, Europe, APAC, MEA, and South America), and packaging (primary and secondary).
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Global Contract Packaging Market – Global contract packaging market is segmented by end-user (food and beverage, consumer goods, personal care, pharmaceutical, and others) and geography (North America, APAC, Europe, MEA, and South America).
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Some of the key topics covered in the report include:
Market Challenges
Market Drivers
Market Trends
Vendor Landscape
About Technavio
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Report: www.technavio.com/report/blister-packaging-market-in-us-industry-analysis
SOURCE Technavio
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