LONDON--(BUSINESS WIRE)--Technavio’s blister packaging market research report forecasts the market in the US to grow at a CAGR of over 9% during the forecast period.
The development of convenient blister packs will be one of the major trends in the blister packaging market in the US during 2018-2022. smart blister packaging technologies have been emerging across the US because of the growing consumer requirements for convenient packaging and reduction of medicine counterfeiting. These smart technologies have been providing several advantages such as easy usage for the old age population.
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According to Technavio analysts, one of the key drivers for the blister packaging market in the US will be the cost benefits offered by blister packaging:
Blister packaging market in the US: Cost benefits of blister packaging
The pharmaceutical products are commonly packed in glass bottles, plastic bottles, and blister pack. The cost of packaging has a significant impact on the profitability of pharmaceutical manufacturers. In the case of pharmaceutical products, the packaging is estimated to account for around 11% of the total production cost.
According to a senior analyst at Technavio for research on packaging, “Blister packaging is predicted to be the most economical packaging method throughout the supply chain of a pharmaceutical product. The supply chain includes the packaging line operation, shipping, distribution, pharmaceutical inventory, and dispensing. Additionally, blister packaging is more sustainable as it creates less landfill when compared with glass and plastic bottle manufacturing.”
Blister packaging market in the US: Segmentation analysis
This blister packaging market analysis report segments the market in the US by components (forming film and lidding material) and by technology (thermoforming and cold forming). This blister packaging market forecast report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major technology segments, the thermoforming segment held the highest blister packaging market share in the US in 2017, contributing to around 52% of the market. This technology segment will dominate the market throughout the forecast period.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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