Blow Fill Seal Technology Market: Promising Prospects in Healthcare Industry
Medical non-adherence is a complex healthcare problem with profound repercussions. The multidimensional problem can arise due to an assortment of reasons which can be related to the patient or the treatment and healthcare provider. In addition to risking patients’ well-being, medical non-adherence is known to cause a substantial increase in the generation of waste and cost while deterring the efficacy of treatments
A concrete example of the problem became evident after studies estimated that approximately 50% of the US population failed to consume medication as per the prescribed directions. Another survey claimed that medical non-adherence were responsible for costing the US healthcare system an additional $200 billion.
The daunting challenge that continues to pose a threat to the healthcare industry is causing pharmaceutical companies to work towards the development of advanced drug delivery systems and packaging solutions that can effectively help solve the problem. Blow seal fill technology is gradually becoming a vital part of the pharmaceutical manufacturing process owing to its ability to aid in accurate unit dosage medicine packaging.
The precise packaging ability could prove imperative in improving patient adherence around the world. In addition to this, the blow fill seal technology enhances drug accuracy while reducing the probability of drug contamination. An increasing number of pharmaceutical manufacturers are slowly beginning to integrate the use of technology in their production facilities which are expected to bolster blow fill seal technology market growth.
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Constant Pressure on Pharmaceutical Manufacturers to Maintain Affordable Pricing Can Hamper Blow Fill Seal Technology Market Growth
The constant pressure on pharmaceutical manufacturers to maintain affordable pricing of their products continues to perturb the industry. Patent losses and increasing government pressure to curb healthcare losses are key factors that are impacting the revenue of pharmaceutical companies.
Patent expirations are further allowing the proliferation of the generic drugs market which is gradually expanding its reach at the expense of specialized drug manufacturers.
Consequentially, pharmaceutical manufacturers are struggling to maintain cutting-edge production facilities. Integration of blow fill seal technology incurs a heavy cost due to the requirement of skilled labor, straight line maintenance and depreciation, and resins.
Although the blow fill seal technology offers a plethora of advantages, pharmaceutical manufacturers show signs of reluctance when integrating the blow fill seal technology to production lines. These factors could impede the growth of blow fill seal technology market.
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Blow Fill Seal Technology Market: Ability to Accommodate Automation Driving Growth
In addition to providing accurate packaging, blow fill seal technology can be automated and enables pharmaceutical manufacturers in continuous packaging of drugs without the requirement of human intervention in a sterile and aseptic environment while significantly lowering down production errors. This ability of the blow fill seal technology can potentially prove convenient during the production of plastic syringes and vials.
Demand for plastic vials manufactured using blow fill seal technology is slowly growing on account of the risks associated with the use of glass vials which could break and enter patients’ body or shatter during transportation.
Further, blow fill seal technology is being endorsed by various regulatory authorities around the world which are estimated to proliferate the blow fill seal technology market. Global regulatory authorities which include the likes of FDA, USP, and EMEA have given a nod to the use of blow fill seal technology in the manufacturing industry.
The US Food and Drug Administration has identified blow fill seal technology as an advanced aseptic processing system. Approvals from regulatory authorities around the world are expected to bolster blow fill seal technology market growth.
Blow Fill Seal Technology Market Growth to be Underpinned by its Widespread Adoption in F&B Packaging
The demand for in-house packaging in the food and beverages industry is on the rise. Customized blow fill seal technology can streamline the packaging process for companies and could substantially enhance their profits by eliminating the need for warehousing of raw materials and simplifying the handling process.
Blow fill seal technology is expected to find widespread adoption in the carbonated drinks packaging owing to its advanced leak proofing and sealing applications.
The benefits of using blow fill seal technology in packaging are likely expected to reduce the time to market for food and beverages companies while lowering the consumption of raw material required in the process.
F&B companies are growing increasingly aware of the benefits offered by the technology which, in turn, is likely to propel the growth of the blow fill seal technology market.
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Competitive Assessment of the Blow Fill Seal Technology Market
Some of the prominent players operating in the blow fill seal technology market include Catalent, Inc., Unipharma LLC, GlaxoSmithKline plc., Recipharm AB, Laboratorios SALVAT, S.A., Amanta Healthcare, Asept Pak, Inc., SIFI S.p.A, Brevetti Angela S.R.L, Nephron Pharmaceuticals Corporation, Weiler Engineering, Inc., Curida AS, Roomelag Kunststoff-Maschinen Vertriebsgesellschaft mbH, Horizon Pharmaceuticals, Takeda Pharmaceuticals AG, Unither Pharmaceuticals, The Ritedose Corporation, Automatic Liquid Packaging Solutions LLC, Pharmapack Co. Ltd., Unicep Packaging, LLC., NuPharm, BioConnection, Plastikon, Gerresheimer AG, and LyondellBasell Industries N.V.
These key players in blow fill seal technology market are focusing on consolidating their position.