Pharmaceutical packaging plays a pivotal role in safeguarding medicines, ensuring their potency and quality. high barrier packaging films for pharmaceuticals market is a critical component of this industry, offering innovative solutions to protect pharmaceutical products from external factors that can compromise their integrity. In this comprehensive article, we will delve into the world of high barrier packaging films, exploring its importance, trends, and benefits.
Introduction
Pharmaceutical packaging isn’t just about aesthetics; it’s a lifeline for patients who rely on the safety and efficacy of medicines. high barrier packaging films for pharmaceuticals market is at the forefront of ensuring that medicines reach patients in pristine condition. In this article, we’ll navigate through various aspects of this market, shedding light on its significance in the pharmaceutical industry.
By 2033, the global high barrier packaging films for pharmaceuticals market is predicted to surpass US$ 812.5 million, with a steady Compound Annual Growth Rate (CAGR) of 5.3% over the projected period. Currently, in 2023, the market is on track to reach a value of US$ 484.8 million.
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Top Highlights from the FMI’s Analysis of High Barrier Packaging Films for the Pharmaceuticals Industry:
- The North America market attained a market share of 32.1% in 2022.
- The United States showcased a prominent market share of 29.1% in the year 2022.
- Europe is expected to trail behind North America. The European region is projected to grasp a market share of 29.6%.
- The German market is expected to experience a market share of 6.5% in 2022.
- The United Kingdom market is expected to expand at a CAGR of 5.6%.
- Within Asia Pacific, India, and China are projected to attain a CAGR of 7.1% and 6.8%, respectively, in the forecast period.
- On the basis of product type, coextruded films accounted for 80.7% in 2022.
- Based on application, blisters garnered a market share of 65.8% in 2022.
Competitive Landscape
- Amcor plc
- Bemis Company, Inc.
- Sealed Air
- KUREHA CORPORATION
- FLAIR Flexible packaging Corporation
- WINPAK Ltd.
- MULTIVAC
- DuPont, BERNHARDT Packaging & Process
Key Takeaways from High Barrier Packaging Films for Pharmaceuticals Market Study
- Application of high barrier packaging films in blisters is increasing at an exceptional rate, attributing to their unit dosing feature. They also provide high protection from contamination.
- Leading packaging manufacturers operating in high barrier packaging films for pharmaceutical market are preferring plastic materials such as polypropylene (PP), polyvinyl chloride (PVC) and polyamide (PA) to design and manufacture high barrier packaging films.
- East Asia and South Asia are set for a solid growth outlook in the high barrier packaging films for pharmaceuticals market, as key economies such as China and India are producing and exporting pharmaceutical drugs on a significant scale.
Stay Updated with Recent Developments in the High Barrier Packaging Films for Pharmaceuticals Market
- Raven Industries Inc., in August 2020, launched the BioFlex I-series, which is a new product in its plastic film line. The latex-free film is utilized in personal defense equipment (PPE). This innovation is utilized in laboratories and hospitals to avoid hospital acquired infections (HAIs). It goes without saying that the product complements the company’s product line.
- In September 2021, Flex Films introduced ultra-high barrier film made of metallic polyester ‘F-UHB-M’ for the substitution of AI foil. This recyclable film is made of high-value proposition. The film has economic benefits, metal bond performance, and sustainability quotient.
Manufacturers Focus on Incorporation of Advanced Packaging Technologies
Flexible packaging manufacturers that cater to pharmaceutical companies are increasingly offering high-performance films that provide custom barrier properties for different types of pharmaceutical products in order to enhance their shelf-life. Generally, premium pharmaceutical products must be kept in specific environmental conditions to prevent product quality from deterioration.
Modified atmosphere packaging (MAP) or controlled atmosphere packaging (CAP), the emerging packaging technology advances, maintain the particular atmosphere inside product packages. High barrier packaging films with modified atmosphere packaging (MAP) and controlled atmosphere packaging (CAP) properties maintain the internal environment of the package and maximize the shelf life of the product. The increasing demand for MAP and CAP from pharmaceutical companies will create an influx of opportunities for manufacturers over the forecast period.
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Key Segments Covered in High Barrier Packaging Films for Pharmaceuticals Industry Research
High Barrier Packaging Films for Pharmaceuticals Market by Product
- Cold-Formable Films
- Coextruded Films
- Thermo-Formable Films
High Barrier Packaging Films for Pharmaceuticals Market by Material
- Aluminium
- Plastics
High Barrier Packaging Films for Pharmaceuticals Market by Adhesion
- Bags and Pouches
- Blisters
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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