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.
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.
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.
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.
Fact.MR recently published a report titled, “Blow Fill Seal Technology Market Forecast, Trend Analysis & Competition Tracking – Global Market Insights 2018-2027” which provides in-depth and actionable insights into the blow fill seal technology market. The report provides a comprehensive historical analysis of the blow fill seal technology market along with an exclusive and accurate forecast of the market. The study provides a detailed analysis of all the key market dynamics which influence the performance of the blow fill seal technology market along with explanations justifying their inclusion in the report. Additionally, the report provides a comprehensive assessment of all the key market facets including market drivers, threats, restraints, challenges, opportunities, and trends.
Blow Fill Seal Technology – Executive Summary
The report on blow fill seal technology commences with an executive summary of the market that provides brief yet affluent information about the market in terms of value and volume. In addition to this, the summary lists exclusive recommendations from Fact.MR analysts that can be leveraged to gain a competitive edge in the blow fill seal technology market.
Blow Fill Seal Technology – Market Introduction, Background, Analysis, and Forecast
The report provides a concrete market definition along with a detailed market structure which helps readers gain a holistic understanding of the blow fill seal technology market. In addition to this, the report on blow fill seal technology market lists all the macroeconomic factors that influence market growth along with detailed analysis of each of the identified factor. A comprehensive opportunity analysis has also been included in the report. A detailed analysis of the blow fill seal technology market provides estimates about the production volume, Y-o-Y growth, and absolute dollar opportunity. The report on blow fill seal technology market provides a comprehensive analysis of the market performance in the recent past. In addition to this, the report provides a detailed market breakdown on the basis of region, end-use industry, material type, and product type. On the basis of product type, the report segments the blow fill seal technology market into ampoules, bottles, prefilled syringes & injectable, and vials. Based on the end-use industry, the blow fill seal technology market has been segmented into food and beverages, pharmaceuticals, cosmetics and personal care, and others. Based on material, the blow fill seal technology can be segmented into polyethylene, polypropylene, and others. Each segment described in the blow fill seal technology market report has been analyzed on the basis of production volume, Y-o-Y growth, CAGR, and absolute dollar opportunity. A market attractiveness analysis for each of the segments has also been included in the report. Furthermore, the report on blow fill seal technology market scrutinizes the market on the basis of region and provides an all-inclusive analysis of all the segments identified in the report. Based on the region, the blow fill seal technology market has been segmented into Latin America, North America, APEJ, Western Europe, Eastern Europe, Japan, and MEA. A detailed analysis of the historic performance of the blow fill seal technology market along with an authentic and accurate forecast has been provided for each identified region. Additionally, valuable information of the blow fill seal technology market on the basis of country-wise segmentation has also been provided.
Blow Fill Seal Technology Market – Competitive Landscape Assessment
The report provides a comprehensive analysis of the level of competitiveness prevalent in the blow fill seal technology market. All the leading players operating in the blow fill seal technology market have been identified under this section. Further, a detailed profile of each of the identified players has been provided in the report on blow fill seal technology market which sheds light on the company’s revenue share, market presence, global footing, product portfolio, strengths, weaknesses, strategies, and notable business developments. The information provided under the section can be leveraged by stakeholders and business professionals to streamline their production, manufacturing, distribution, and marketing strategies to tap into the extensive consumer base of the prominent market players and gain an edge over the other contenders in the market.
Blow Fill Seal Technology Market – Research Methodology
The robust and exhaustive research methodology employed during the compilation of the report has been explained in detail in the report. A two-step research process was used to gain invaluable insights into the blow fill seal technology market. While primary research was conducted by interviewing seasoned industry experts and through thorough company case studies, secondary research involved the analysis of various paid sources, trade journals, company press releases, and other industry-related publications. Results from both the steps of the research were cross-referenced with each other to filter out erroneous information and create an authentic and accurate forecast of the blow fill seal technology market.
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