Adoption of blow fill seal (BFS) technology continues to gain adoption, especially in food and pharma industries. Adoption is likely to grow in 2021, with market size set to expand by 2.5x by 2031, as per new analysis by Future Market Insights (FMI).
DUBAI, UAE / ACCESSWIRE / March 10, 2021 / FMI's new study on the blow fill seal (BFS) technology tracks growth in 20+ high-growth markets. A detailed analysis on the competitive landscape along with segment-wise growth has also been offered in the report.
Key Takeaways
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Blow fill seal (BFS) technology market to reach US$ 2.6 Bn by 2021-end
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Owing to COVID-19 impact, market revenues to grow at 5.4% in 2021 over 2020; however, long-term growth pegged at 9%
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US will hold 84% share of North America blow fill seal technology market; Canada to grow at steady pace, albeit from a low base
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Adoption of blow fill seal technology in UK set to grow at nearly 8% in 2021 owing to strong demand from food industry
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France and Germany BFS technology leaders investing in innovative technology
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In Asia Pacific, affordable packaging solutions preferred, but Japan and South Korea are outliers
"Adoption of blow fill seal technology continues to be strong. Market players continue to focus on innovative technology to boost their presence", says an FMI analyst.
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FMI's study analyzes uptake of blow fill seal technology across various segments and sectors. Demand for blow fill seal technology from the prefilled syringes and injectables segment continues to remain high. FMI anticipates the status-quo to continue during the course of the forecast period.
Although polyethylene remains the most widely used product in blow fill seal, there is a noticeable shift away toward sustainable materials. Further, incompatibility of various materials with polyethylene is another concern for manufacturers.
The challenge with counterfeit drugs necessitates a multi-pronged approach. The use of BFS in addressing this challenge is gaining momentum. BFS helps in product discarding after use, and its use is likely to gain further traction during the assessment period.
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The research study on blow fill seal technology market by FMI tracks the strategies and product offerings of various players. According to the study, some of the leading players in BFS technology market include Unither Pharmaceuticals, Rommelag Kunststoff-Maschinen Vertriebsgesellschaft mbH, Catalent, Inc., Curida AS, Unipharma LLC, Weiler Engineering Inc., GlaxoSmithKline plc, Takeda Pharmaceuticals International AG, Nephron Pharmaceuticals Corporation, Horizon Pharmaceutical Inc, Brevetti Angela S.R.L, Recipharm AB, Laboratorios SALVAT, S.A, The Ritedose Corporation and others.
According to the study, leading blow fill seal technology providers and packaging manufacturers are focusing on strategic collaboration to exchange technical know-how and to consolidate their position.
FMI anticipates mergers & acquisitions to further grow during the course of the forecast period as many economies are ripe for investment.
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More on the Report
Future Market Insights, in its new report, offers an unbiased analysis of the global blow fill seal technology market, analysing
historical demand from 2016-2020 and forecast statistics for 2021-2031. The study reveals growth projections on the blow fill seal technology market on the basis of product type (bottles (0.2-100 ml, 100-500ml, and above 500ml), ampules (0.1-10 ml and 10-100 ml), vials (0.1-10 ml and 10-50 ml), and others (prefilled syringes & injectables)), material type (PE, (LDPE and HDPE), PP, and others), end use (pharmaceuticals (ophthalmic, injectable, biologics, wound care and respiratory), food & beverage, cosmetics & personal care, and others across seven regions.
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About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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Report: https://www.futuremarketinsights.com/reports/blow-fill-seal-technology-market
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SOURCE: Future Market Insights
View source version on accesswire.com:
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