Global cold form blister packaging market expected to reach U.S. $8.63bn by 2024
Research and Markets, (www.researchandmarkets.com) recent report, "Cold Form Blister Packaging Market By Application (Healthcare, Consumer Products, Electronics & Semiconductors, Food, Industrial Goods) And Segment Forecasts To 2024," shows that the global cold form blister packaging market is expected to reach USD 8.63 billion by 2024. Rising utilization of packaging materials that offers optimal protection and safety allowing to extend product shelf life is projected to boost market demand over the forecast period.
Cold form blister packs help to provide an impermeable barrier to moisture, light, oxygen and other gasses. It also maintains the product integrity and offers complete protection proving to show high patient compliance rate. Some of the drivers influencing the market growth are the growing packaging demand from pharmaceutical industry and a high requirement of cold forming packs owing to favorable product features.
Growing disposable income, improved medical facilities and initiatives adopted by the government to promote healthcare programs has led a rise in demand for cold form foil packaging products.
Healthcare broadly prefers utilizing cold forming packaging materials; the segment accounted for 48.30% of the market volume in 2015. It is used for sealing many products like tablets, capsules, drugs, vials, ampoules, syringes or liquid products. Child-resistant, tamper evident, senior-friendly and anti-counterfeit packaging are in high demand worldwide.