Blow Fill Seal Technology Market to Worth Over $ 466 Million by 2024
Rising demand for aseptic packaging from pharmaceutical industry coupled with increased focus on replacing glass vials to boost global blow fill seal technology market through 2024
According to a report released at TechSci Research, “Global Blow Fill Seal Technology Market By Raw Material, By Type, By Machine Type, By Product, By End-User, By Region, Competition, Forecast & Opportunities, 2024” the global blow fill seal technology market is projected to grow from $ 350 million in 2018 to $ 466.22 million by 2024. Growth of the market is led by increasing application of blow fill seal technology in pharmaceutical industries for packaging. Moreover, rising focus on safe and hygienic pharmaceutical packaging coupled with increasing demand for single dose packaging to avoid the use of preservatives is further boosting demand for blow fill seal technology. However, fluctuation in cost of raw materials required to manufacture blow fill seal containers might restrict the growth of the market.
The blow fill seal technology market can be broadly segmented as type, raw material, machine type, product, end-user and region. Based on raw material, the market is categorized into Low – Density Polyethylene (LDPE), Polypropylene (PP), High-Density Polyethylene (HDPE) and Others. Of all, LDPE accounts or the majority share in the market owing to its rising demand for replacement of glass products. Further, based on product, the market for blow fill seal technology has been segmented into vials, ampoules, bottles and prefilled syringes & injectables. Among these, the vials segment led the global market in 2018 and accounted for a market share of approximately 38% on account of growing use of vials in ophthalmic solutions and inhalation products.
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“Regionally, the market has been segmented as North America, South America, Europe, Asia-Pacific and Middle East and Africa. Among these, Asia-Pacific accounts for the largest share in global blow fill seal technology on account of increasing use of blow fill seal technology in pharmaceutical sector, especially in liquid formulations in the region. Moreover, demand for blow fill seal technology is increasing in developed as well as developing countries, such as Japan, China, India, Australia, South Korea, among others, thereby further fuelling growth in the market.” stated Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Blow Fill Seal Technology Market By Raw Material, By Type, By Machine Type, By Product, By End-User, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global blow fill seal technology market and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment decision. Besides, the report also identifies and analyses the emerging trends along with essential drivers, challenges and opportunities present in the global blow fill seal technology market.
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