Global Blister Packaging Machinery Market 2020-2024| 10% CAGR Projection Over the next Five Years| T
Global Blister Packaging Machinery Market 2020-2024| 10% CAGR Projection over the Next Five Years| TechnavioLONDON--(BUSINESS WIRE)-- The blister packaging machinery market size is poised to grow at a CAGR of over 10% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report This press release features multimedia. The alarming increase in cardiovascular problems, diabetes, nervous system disorders, the growth of the aging population, and new launches by pharmaceutical manufacturers are driving the demand for the pharmaceutical products such as drugs and medicines that require blister packaging. Moreover, blister packaging reduces the cost of the packaging of OTC drugs by 50%. Thus, the increase in demand for the blister packaging solutions, from the pharmaceutical sector will drive the growth of the global blister packaging machinery market during the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2020-2024. Blister packaging of pharmaceutical drugs using manual processes proves expensive when compared to automated blister packaging solutions. The manual task generally involves various activities such as picking up of the blister card and blister insert, sealing of blister card, and labeling of the final product. On an average, around 1.5 minutes is taken for manually filling and labeling of a unit dose blister card that has an average of 35 doses. Thus, companies are shifting to automated blister packaging machinery that cuts down the time and labor cost by more than 50% due to the high precision and increased efficiency of the machines. Thus, the reduction in cost and other advantages of automated machines will drive the demand for blister packaging machinery during the forecast period. "Factors such as the increasing use of robotic blister packaging machinery, growing demand for multi-functional blister packaging machinery and the development of hygienic blister packaging machinery will have a significant impact on the growth of the blister packaging machinery market value during the forecast period," says a senior analyst at Technavio. Register for a free trial today and gain instant access to 17,000 market research reports. This market research report segments the blister packaging machinery market by application (pharmaceutical, food, and others) and geography (APAC, North America, Europe, South America, and MEA). The APAC region led the market in 2019, followed by Europe, North America, South America, and MEA respectively. The growth of the blister packaging machinery market share in APAC can be attributed to factors such as the increase in the middle-class population and the strong growth of the economy in the region. Technavio's sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Some of the key topics covered in the report include: Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.com.â€” â€” â€” â€” â€” â€”What To Expect When Budgeting For PackagingWhen you are budgeting for packaging, there are several factors that can impact your total cost of packaging, and several ways you can reduce these costs by optimizing your current processes. It's difficult to simply place a specific dollar amount to a project like this because no business operates the same way, and what works ideally for your packaging line may not work for any other business in your market. Sometimes you have to think outside of the box to fully realize the potential for cost-savings. Selecting who you work with and when you bring them in can significantly impact the dollar amount you can expect to budget. Here are a few other items that can impact your total packaging cost, including multilayer films, bundling films, maintenance, and new technology: A multilayer film is created by layering polymers with different, specific characteristics and extruding them together through a slotted die and merging them together before the films are cooled. This allows each layer to provide 100% of its characteristic benefits equally, along with greater machinability and durability. Multilayer films are generally used in high-performance flexible packaging applications. These applications include (but are not limited to) shrink packaging, stretch wrapping, pouch packaging, bagging and flexible laminates. Why Use Multilayer Co-extruded film rather than Monolayer? â€¢ Customization: Using multilayer films allows for complete customization to meet the specific packaging requirements of your product, your brand, and your packaging machinery. â€¢ Sustainable Options: You can add layers that incorporate sustainability through non-petroleum, renewable-resource based resins like corn stalk and sugar-cane, and even re-usable, recycled materials. Multilayer flexible packaging that includes an aluminum foil layer coated in polyethylene laminate (which is often seen in pouch packaging) is not easily recyclable because the layers have to be separated to be fully recycled or up-cycled. This does not mean it's a no-go as a sustainable packaging option. New technologies are able to separate films and use the incinerated PE to produce energy. â€¢ Downgauging: You can achieve more packages per roll while also using a thinner film because the manufacturer can optimize each layer separately. Not only does this lower the amount of packaging required per product, it also helps you achieve greater efficiencies with longer production runs and less roll change-overs required. Example of a 5-layer extruded laminate Package And EACH LAYER'S Responsibility: â€¢ Allows the Package to be Heat-Sealable How Does It Save Costs? â€¢ Maintenance: Our experience shows that companies that use multilayer extrusion technology for packaging vs monolayer technology will often see a significant reduction in maintenance costs on their packaging lines. Monolayer films tend to be stickier and leave more residue on machinery parts, which extends cleaning time and the amount of maintenance the machinery used will require. Using multilayer films can reduce the amount of residue left on the sealer bars and keep your maintenance costs down. â€¢ Rewraps: With certain layers of protection added to your film, you can greatly reduce the amount of damaged goods that result in rewraps. Multilayer films provide additional strength and can reduce the amount of maintenance required on packaging machinery. If you are buying a customized multilayer film direct from a manufacturer you will want to know exactly what you are looking for, which can be difficult as there are literally thousands of polymer resins and combinations available. Working with a Packaging Professional can reduce the many headaches that incorrect film selection can create. Along with strong relationships with multiple film manufacturers, you will gain the added benefit of their knowledge and experience to guide you in optimizing the film for your application and your packaging line. In certain applications it's not uncommon to see a packaging cost reduction of over 30% by switching to bundling films in lieu of corrugated boxes, provided your product can handle your supply chain. Rather than using a corrugated tray for support for multipacks of product, films that are made today can handle heavier products while keeping the same form. As an added bonus, high-quality graphics can be printed directly on the film, reducing spend on additional labeling. Ditch the additional packaging and opt for a more eco-friendly, film-only package package. On average companies lose 2.5% of their annual revenue on freight damage. By choosing the right packaging materials and using newer technologies, it is possible to get twice as much load containment with your stretch films while using using the same amount of film. It is not uncommon for businesses to see a 30% reduction in their stretch film costs when updating their end-of-line packaging solutions. With certain machines, like the Lantech Q-series pallet wrappers, for example, it may be possible to replace the pre-stretch gears from 200 to 250 and maximize your film usage while maintaining load containment , resulting in a 20% film savings. â€¢ Go All Electric : If you replace your old machines with newer technologies, you will see huge improvements in energy usage. If you break down your utility bills, compressed air is one of the most expensive utilities in your facility. By switching to all-electric vs., pneumatic machinery, you allow your business to save on the cost of making compressed air while also eliminating all of the maintenance required for air cylinders over time. â€¢ Pneumatic Wear: Historically, pneumatic machinery will begin to wear out over time and this leads to irregular sealing or cutting. Machine Operators will often find ways to keep poor or worn pneumatic components running by adding more material to each package being run. This is done to keep the machine from faulting out, however, adding a half an inch, or an inch more of film-per-package can add up your total packaging spend quickly. If you are running pneumatic machinery and are seeing increases in film usage, it may be worth connecting with a professional to help you determine the cause and find a solution that fits your budget and your business goals. With regular preventative maintenance performed on your packaging machines, downtime typically will be on your schedule rather than simply happening to you due to a faulty or worn part on your line. If you do not have a regular PM schedule, it's imperative to work with a professional or to create a plan in-house. Gain control of your maintenance costs and keep emergency repairs from cropping up at the worst possible moment, e.g., when you have order at the end of the month that needs to get out. With all of the potential to reduce costs and maximize the potential of your packaging operation, it would be in your best interest to connect with a Packaging Professional before you plan your budget. Not only will they understand your goals beforehand, they can provide insight to specific materials and machinery that will provide the most benefit to your needs. Additionally, with access to multiple suppliers you can be sure you have multiple options with the least effort on your part, as well as any distributor discounts they may have access to. If you have a new product to launch or a packaging overhaul now in the future, talk to us!