The latest market research report by Technavio on the global blister packaging machinery market predicts a CAGR of close to 10% during the period 2018-2022.
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Technavio has published a new market research report on the global blister packaging machinery market 2018-2022 under their transportation and logistics library. (Photo: Business Wire)
The report segments the global blister packaging machinery market by application (pharmaceutical and food) and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global blister packaging machinery market, according to Technavio transportation and logistics researchers:
- Reduction in cost through automated machines: a major market driver
- In 2017, the pharmaceutical segment dominated the market by occupying almost 40% share
- APAC dominated the global blister packaging machinery market with 53% share in 2017
- ACG Worldwide, Barry Wehmiller, Bosch Group, Fabrima, and Marchesini Group are the leading players in the market
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Reduction in cost through automated machines: a major market driver
Due to the high precision and increased efficiency of the machines, blister packaging through automated blister packaging machinery cuts down the time and labor costs by more than 50%. Using manual processes, blister packaging of pharmaceutical drugs proves expensive than automated blister packaging solutions. On an average, around 1.5 minutes is taken for manually filling and labeling of a unit dose blister card that has an average of 35 doses. Various activities such as picking up of the blister card, picking up of blister insert, sealing of blister card, and labeling the final product comes under manual task.
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APAC: largest blister packaging machinery market
With the increase in the middle-class population and the strong economy growth in APAC, the region held the highest market share. When compared with the global growth rate of around 3% in 2016, APAC registered a gross domestic product (GDP) growth rate of 5.0%-5.5% in 2016. Also, APAC also accounted for around 60% of the global population in 2016.
According to a senior analyst at Technavio for research on packaging, “There has been an increase in demand for consumer goods, electrical products, and pharmaceutical products due to the growth in the middle-class population. A large population of the middle-class consumers in the region provides a large customer base for consumer products. Such large customer base is expected to drive the growth of the packaging blister packaging machinery market in APAC.”
Competitive vendor landscape
The global blister packaging machinery market is highly fragmented. Through innovation, quality, and price, players are trying to compete in the market. With many new players entering the market, the competition is expected to intensify with players investing heavily in R&D activities. As a result, the key players are increasing their number of partnerships and acquisitions to integrate various technologies and increase their foothold in the market.
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