How Innovation Is Changing the Blow Fill Seal Equipment Landscape
Use of appropriate packaging plays a highly important role in the pharmaceutical industry, especially in terms of packaging medicines and other products. Some of these products may include bottles, prefilled syringes, ampoules, and vials. One such packaging type that is greatly preferred is the aseptic packaging technique using blow fill seal equipment. This equipment is used on such as large extent that a distinct blow fill seal equipment market exists on a global scale. With rapidly expanding pharmaceutical and packaging industries, this market is expected to grow with major leaps and bounds.
High Advantageous BFS Packaging Witnesses Splendid Demand in Recent Times
There are several advantages associated with the use of this equipment, consequently existing as potential growth drivers of the market. Maintenance of a contamination free environment by limiting human interface and increasing product safety is projected to increase the demand for blow fill-seal equipment market. This type of packaging can also be used to seal milk products, foods, soft drinks, gels, ointments, and other consumer items, thus playing a crucial role in the food and beverages industry too. However, among all industries where blow-fill seal equipment is utilized, the pharmaceutical industry is expected to hold a leading share in the next few years. As per expert analysts, the global blow fill seal equipment market is expected to expand at a healthy CAGR of 5.9% and register revenue worth US$7692.9 mn.
The availability of a wide range of innovative packaging solutions is likely to have a significant influence on the demand for blow fill seal (BFS) equipment market during the forecast period. A foremost change and innovation-based factor affecting the global blow fill seal equipment market involves using customized techniques, consequently driving its growth at a steady pace. Moreover, with a high demand for innumerable types of shapes and sizes required to pack products, many companies are using revamped manufacturing equipment that can provide the desired form of packaging raw material.
Innovations in Aseptic Packaging Exists As a Key Trend in Market
Coming to the key trends, a rising demand for aseptic packaging and regulations over the packaging of pharmaceutical products is foretold to drive the blow fill seal equipment market’s progress. This is mainly due to an increasing need for maintaining shelf life of pharmaceutical and food products, especially while transporting over long distances. Implementing of proper regulations can ensure that suitable packaging practices are maintained in the pharmaceutical and food industries. A rising demand for convenient packaging, innovation in pharmaceutical packaging, and an increasing demand for a qualitative technique for filling parental preparation are factors providing a notable impetus to the blow fill seal (BFS) equipment market.
Lack of Necessary Equipment and Apparatus in Remote Regions Dampens Progress
The blow fill seal (BFS) technology requires a relatively high cost of preparation. This might leads to high pricing of the commodity, consequently discouraging those having less disposable income from buying the products. Thus, such high prices are substantially hindering the global blow fill seal market. In addition, a lack of raw materials for using this technique in remote and underdeveloped regions might exist, thus posing as a geographical restraint to the blow fill seal equipment market’s expansion. Nevertheless, several manufacturers are expected to reduce production costs associated with using the BFS technique in the near future, as well as improve their geographical reach. This could offset most restraints affecting the blow fill seal equipment up to a certain extent.
Fantastic Innovations to Intensify Competition in Blow Fill Equipment Market
The global blow fill seal equipment market depicts a monopoly-based vendor landscape mainly due to the presence of a handful of players exerting domination in terms of revenue generated. A key organization called Rommelag holds close to 90% of the total market share. Apart from this company, other manufactures including Brevetti Angela S.R.L., Serac Inc. and SIPA S.p.A are expected to register notable revenue shares in the global blow fill seal equipment market. Most companies in this sector are focusing on development of new products along with strategic collaborations with other businesses. Companies are also expected to come with innovative packaging solutions in the near future. With several innovation solutions made available for mass production, coupled with an increase in the number of players, the vendor landscape is projected to highly intensify during the next few years.
Asia Pacific and Europe Stand Apart as Winning Segments
In terms of geography, the global blow fill seal equipment is mainly spread across North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. Of these, Asia Pacific, Europe, and Latin America have been identified as key regions for this market’s growth owing to concretely established pharmaceutical and packaging industries. However, a strong medical and healthcare infrastructure in North America is also expected to make the global blow fill seal market rapidly progress in this region