Future Market Research recently published a study that assesses growth of the blow fill seal technology market, and it finds that the adoption of this technology will record a revenue of ~US$ 2 billion by 2019. The study attributes the recent upsurge in the use of aseptic filling in unit dose packaging, which is a single dose packaging in a container that is not reusable, for the positive growth prospects of the market.
Blow fill seal technology has been witnessing high demand from pharmaceutical companies for improvised medication, and its adoption will continue to grow in the packaging of various liquid drugs including ophthalmic, respiratory, injectable drugs, and biologics. Unit dosage packaging, such as prefilled syringes, are in high demand, which in turn is spurring the demand for blow fill seal technology.
Blow fill seal technology is proving to be advantageous for end users as it eliminates the risk of cross-contamination, reducing human intervention. Another advantage of unit dose is that it enables end users to ensure that the patient takes the correct medicine. In addition to this, adoption of machines integrated with blow fill seal technology is witnessed a hike, attributing to their low energy consumption, low waste generation, and an overall low carbon imprint.
North America to Lead the Pack with Positive Growth in its Pharmaceutical Industry
North America and Western Europe cumulatively are estimated to dominate the blow fill seal technology market accounting for ~65% of the global market in 2019. This dominance can be attributed to the established yet steadily growing pharmaceutical industry in these regions. Furthermore, manufacturing of unit dose packaging solutions in North America, is witnessing an increase, which is expected to fuel the adoption of blow fill seal technology.
Moreover, increasing demand for aseptic packaging is anticipated to be another key driver for the blow fill seal technology market. The market share of the pharmaceutical segment in North America is anticipated to account for ~97% of market value share as several leading pharmaceutical players are based out of the U.S. Furthermore, there is wide adoption of blow fill seal technology in the packaging of respiratory drugs, as these drugs need to be packaged in accordance with internationally accepted aseptic packaging standards. Aforementioned factors are anticipated to propel the demand for blow fill seal technology in North America in the years to come.
For More Detailed Insights on Blow Fill Seal (BFS) Technology Market
Shift from Glass to Plastics as the Most Preferred Primary Packaging Material
Glass vials are prone to breakage, which makes them difficult to handle and less durable. This gives plastic an edge over the glass for manufacturing vials and ampoules. Among various plastics, polypropylene is estimated to account for more than one-third of the market share of blow fill seal technology market. This preference can be attributed to greater thermal stability possessed by polypropylene, which makes it capable of withstanding sterilization processes.
Furthermore, the adoption of polyethylene in blow fill seal technology is projected to expand at a CAGR of ~8.5%, generating an incremental opportunity of ~2 Bn during the forecast period. A similar trend is likely to be followed by North America and Western Europe, according to the FMI study.
Global Blow Fill Seal Technology Market: Competition Landscape
Blow fill seal technology is increasingly being used by major pharmaceutical manufacturers to protect and preserve their pharmaceutical formulations. For instance, companies such as GlaxoSmithKline Plc. announced their decision to use blow fill seal technology for vaccine packaging at its Australian manufacturing plant in Boronia.
As per FMI analysis, Unither Pharmaceuticals, Inc., Unipharma, LLC, The Ritedose Corporation, and catalent Inc. have been identified as the tier 1 players operating in the global blow fill seal technology market. These players are expanding their operations in developing economies to cater to a wider clientele. For instance, Unither pharmaceuticals Inc. opened a Chinese subsidiary- Unither Pharmaceutical Technologies (Wuhan) Co LTD. With this expansion, the company aims to bring innovative technologies to Chinese pharmaceutical laboratories and patients.
However, several other players are emerging as prominent regional players such as Horizon Pharmaceutical, Inc. Takeda Pharmaceuticals International AG, Sentiss LLC and others. These players are likely to impact the regional pricing trends significantly and make the market more competitive.
This study underlines key opportunities in the blow fill seal technology market and finds that the market would exhibit growth at a CAGR of ~ 8% during the forecast period. For in-depth information blow fill seal technology market, write into the analyst at firstname.lastname@example.org.
About Packaging division of FMI
The Packaging division at FMI provides an in-depth historical analysis and granular projections of the global packaging market. Ranging from packaging materials to designs & formats, FMI has an exhaustive market research database, serving clients with unique offerings and strategic recommendations. With a repository of 750+ reports, the team analyzed the packaging industry comprehensively in 70+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously track emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.