Plastic Materials Show No Signs of Faltering
Manufacturers continue to flock to plastics for developing high barrier packaging films for pharmaceuticals owing to their excellent mechanical properties. Among various plastics, polypropylene (PP), and polyvinyl chloride (PVC)/ polyvinylidene chloride (PVDC) would remain the preferable material during the manufacturing process.
Stringent regulatory framework to tackle plastic waste generation is putting pressure on manufacturers to turn to sustainable alternatives such as aluminum. However, the attractive performance and cost benefits of plastics are enabling their broader adoption, as such, would be the material of choice over the foreseeable timeframe.
North America to Lead; Asia to Offer White Spaces
Strong foothold of leading manufacturers and stable growth of pharmaceutical industry despite reaching saturation are providing impetus to high barrier packaging films for pharmaceuticals market in North America. Represented by the US, the developed regional market would generate over a third total return to stakeholders. Going forward, pharmaceutical makers in Asia, especially China, and India, are producing drugs at large scales. Market players must grab this value-capture opportunity to stay ahead of their peers.
Market Players Embracing Advanced Packaging Systems
Premium pharmaceutical products are stored in specific environmental conditions to prevent the quality from deterioration. Flexible packaging manufacturers in the pharmaceutical industry are seeking high-performance films that provide custom barrier properties for various pharmaceutical drugs.
They are leveraging modified atmosphere packaging (MAP) and controlled atmosphere packaging (CAP) as they keep the environment within the packaging as per product requirement. Further, high barrier packaging films for pharmaceuticals complemented with these advanced packaging solutions avoid exchange of gases across packaging and maximize the shelf life of drugs.
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How Growth will Unfold
Growing prevalence of unit dosing in order to prevent contamination of primary products is boosting the application of pharmaceutical blisters. Capturing nearly 3/5 of total market value, manufacturers would glean better margins from blisters as compared to bags & pouches. However, this FMI study highlights usage of pharmaceutical bags & pouches to grow at healthy pace in due course of time. Despite their faster adoption, market players would stay focused on blister packaging to maintain product portfolio.
FREQUENTLY ASKED QUESTIONS ABOUT GLOBAL HIGH BARRIER PACKAGING FILMS FOR PHARMACEUTICALS MARKET
What are future prospects of the high barrier packaging films for pharmaceuticals market?
The global high barrier packaging films for pharmaceuticals market is anticipated to grow at a steady pace during the next ten years. The global high barrier packaging films for pharmaceuticals market was valued at US$ 383 Mn in 2018 and is estimated to reach US$ 651 Mn by 2029.
What are the key factors accelerating growth of the high barrier packaging films for pharmaceuticals market?
The growing preferences for flexible packaging solutions in the pharmaceuticals sector are one of the vital factors that fuel the high barrier packaging films for pharmaceuticals market growth to a significant extent. Along with that, the ability of high barrier packaging films to provide longer shelf life, affordable pricing and durability raise its popularity among the end-users
At what rate will the high barrier packaging films for pharmaceuticals market grow in the following years?
The global high barrier packaging films for pharmaceuticals market is anticipated to witness astonishing market growth in the foreseeable future, owing to rising production of pharmaceutical drugs worldwide. The global high barrier packaging films for pharmaceuticals market is estimated to register a remarkable CAGR of 5.0% by the end of 2029.
Which application segment will provide the most gratifying opportunities in the next five years?
Blister segment is projected to be the most promising segment throughout the forecast period. The demand for pharmaceutical blisters is constantly rising owing to its unit dosing feature and high performance from contamination of the primary product.
Which regions are expected to lead in terms of global sales of high barrier packaging films for pharmaceuticals market?
In terms of sales and market share, North America and Europe regions are projected to hold a substantial portion of the market share. The significant presence of leading high barrier packaging films manufacturers in these regions are propelling market growth significantly