Latin America Pharmaceutical Blister Packaging Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 0.96 Billion |
| Market Size (2029) | USD 1.29 Billion |
| CAGR (2024 - 2029) | 7.30 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Latin America Pharmaceutical Blister Packaging Market Analysis
The Latin America Pharmaceutical Blister Packaging Market size is estimated at USD 0.96 billion in 2024, and is expected to reach USD 1.29 billion by 2029, growing at a CAGR of 7.30% during the forecast period (2024-2029).
The pharmaceutical packaging process is crucial to protect the product from moisture, heat, contamination, oxygen, and UV light. The growing importance of packaging in the pharmaceutical industry has led to brands harnessing the potential of unique packaging designs to stand out and increase profitability.
- Blister packaging refers to packaging in which the product is placed in pre-formed blisters or cavities and secured with cards or pads. This type of packaging is commonly used for consumer goods such as pharmaceuticals.
- The pharmaceutical industry is one of the largest end-user industries for blister packaging and has a significant market share. This is due to the many benefits of blister packaging in the pharmaceutical industry, including improved product protection, ease of distribution, unit dosage packaging, and product identification. Considerable growth in specific applications in the end-user market has significantly expanded the scope of the industry.
- The rising regulatory standards, public health controls, innovations, more knowledgeable consumers, the rise of OTC medicines, and the availability of generic drugs under government health schemes are driving the growth in blister packaging. Manufacturers are focused on materials and designs to meet the new rules and regulations while maintaining sustainability. Safety has become a consumer priority, making packaging as valuable as blister packs.
- According to the United Nations Economic Commission for Latin America and the Caribbean, population aging is one of the main demographic phenomena affecting Latin America and the Caribbean. It indicates that 88.6 million people aged 60 years and over were living in the region as of 2022, accounting for 13.4% of the total population, a proportion that will reach 16.5% by 2030. The rapid aging process in the region could lead to older individuals accounting for 25.1% of the total population (193 million people) by 2050, meaning there will be 2.1 times more older individuals than in 2022.
- The ever-growing number and diversity of environmental packaging regulations make it increasingly difficult for brand owners to sell products with the same design. A study was conducted on the regulatory framework for prescription drug registrations in Latin America and the Caribbean, which included rules describing elements of information intended for medical professionals and patients. Each regulatory agency's electronic website was reviewed to determine if information relevant to this study was published, including terminology related to product information, package inserts directed at healthcare professionals and patients, and definitions.
Latin America Pharmaceutical Blister Packaging Market Trends
Plastic is Widely Used for Blister Packaging in the Region
- Blister packaging is made from polymers like PVDC and PVC. PVC or polyvinyl chloride is the common blister packaging material. It provides barrier protection from gas, moisture, light, and temperature with a long shelf life. Blister packaging helps retain the product integrity of drugs pre-packed in blisters and shields them from adverse conditions.
- The main market driver is the choice of blister packaging in the pharmaceutical industry over other products like cartons or boxes. Different pharmaceutical packaging rules are also accelerating blister packaging manufacturers ' expansion since the pharmaceutical sector is steadily expanding and pushing the demand-supply curve upward.
- Blister packs witnessed increased adoption as they enable improved compliance and can be easily customized to product designs due to the availability of a broad range of materials and multiple options for configuration.鈥� Additionally, initiatives by companies such as Amcor (which develops over two-thirds of pharma packaging to be recyclable or reusable (Formpack Blister + PTF portfolio)) are anticipated to drive recyclability among the flexible pharmaceutical packaging providers, driving sustainability.
- With the growing health issues and diseases across the region, the need for pharmaceutical products is rising. According to the Pan American Health Organization, dengue cases in the region increased to 4,475.38 thousand in 2023 from 2,808.7 thousand in 2022. Such an increase in diseases could boost the market for blister packaging over the forecast period.
- The Brazilian plastic industry has addressed environmental concerns and sustainability requirements. Braskem, one of the leading resin manufacturers in the country, is expanding its production of renewable sugarcane-based polyethylene by 30%. On another front, resin producers have been actively developing the PCR (post-consumer resin) sector through partnerships with recycling companies and acquiring recyclate manufacturers. Such initiatives by regional companies and governments could boost the market for recyclable plastic blister packaging in the pharmaceutical sector over the forecast period.
Mexico Poised for Strong Growth in the Industry
- A significant portion of Mexico's economy is derived from the pharmaceutical sector. The rise in diseases and strict government regulations against fake medications are among the significant factors driving the market. The pharmaceutical industry is the largest end-use sector for blister packaging, holding a sizable market share.
- Pharmaceutical companies are under increasing pressure to produce drugs with distinctive packaging that are challenging to copy, going beyond the essential requirement of storing valuable medicine.
- Further, the need for pharmaceutical products is rising with the growing health issues and diseases across the region. According to ProMexico and Seale & Associates, the sale of generic drugs was worth USD 7.7 million in 2023 and is expected to reach USD 8.53 million in 2024. An increase in the sale of generic drugs in Mexico could boost the market for blister packaging over the forecast period.
- According to the International Trade Administration, US Department of Commerce, Mexico is the second-largest market in Latin America after Brazil for medicines, ranking as the world's 15th-largest market. Most pharmaceutical products imported into Mexico still come from the United States.
- In February 2024, regulators with Mexico鈥檚 Federal Commission for the Protection against Health Risks (COFEPRIS) announced a detailed plan that encourages working closely with the industry to ensure regulatory certainty for biosimilar medications and their mass production in Mexico. The COFEPRIS plan seeks to 鈥渆ncourage the development of biocomparable biotechnological medicines鈥� and 鈥渆stablish a robust institutional and regulatory framework, aligned with international standards, that offers regulatory certainty to manufacturers based in Mexico." Such initiatives are expected to drive the market studied in the country.
Latin America Pharmaceutical Blister Packaging Industry Overview
The Latin American pharmaceutical blister packaging market is fragmented, with various major players such as Amcor Limited, Constantia Flexibles, Westrock Company, Klockner Pentaplast Group, and Sonoco Products Company operating in the industry. The players are focused on expanding their business in the region through acquisitions, collaborations, mergers, and more.
- July 2024: Constantia Flexibles Completed one successful year of the unveiling of its pharmaceutical packaging solution, the coldform foil REGULA CIRC. This technology sets a new standard for sustainability in blister packaging, delivering many benefits for both consumers and the planet. With circularity at its core, REGULA CIRC is developed to comply with future regulations and legislation, providing a total barrier solution that fulfills the highest sustainable packaging standards.
- September 2023: Sonoco Products Company, a global packaging leader, announced the completed acquisition of RTS Packaging LLC from joint venture partner WestRock in Chattanooga, Tennessee. The acquisition helped Sonoco add a network of 15 operations in the United States, Mexico, and South America. The acquisition will strengthen and boost Sonoco鈥檚 100% recycled fiber-based packaging solutions to serve markets like healthcare.
Latin America Pharmaceutical Blister Packaging Market Leaders
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Amcor Plc
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Sonoco Products Company
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Constantia Flexibles Group GmbH
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WestRock Company
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Klockner Pentaplast
*Disclaimer: Major Players sorted in no particular order
Latin America Pharmaceutical Blister Packaging Market News
- January 2024: TekniPlex Healthcare partnered with PET industry company Alpek Polyester to introduce the world鈥檚 first 30% post-consumer recycled content pharmaceutical-grade blister film with Alpek鈥檚 Octal rDPET Sheet technology. The blister film is also fully recyclable. Combined with TekniPlex鈥檚 polyester lidding Teknilid Push, the film plus lidding blister system is fully recyclable in the polyester recycling stream where recycling infrastructure exists.
- September 2023: Acino International AG, a pharmaceutical company headquartered in Zurich, announced that it entered into a contract to acquire M8 Pharmaceuticals (M8), a fast-growing specialty biopharmaceutical company headquartered in Mexico City that focuses on licensing, marketing, and distributing innovative and established medicines in Mexico and Brazil. Acino will enter the two largest pharmaceutical markets in Latin America through this acquisition, significantly extending its geographic footprint and bolstering its position in the region.
Latin America Pharmaceutical Blister Packaging Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitutes
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain Analysis
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Growing Geriatric Population and Prevalence of Diseases
5.1.2 New Product Innovations with Sustainable Materials
5.2 Market Restraints
5.2.1 Dynamic Nature of Regulations in the Region
6. MARKET SEGMENTATION
6.1 By Material
6.1.1 Plastic
6.1.2 Paper
6.1.3 Aluminum
6.2 By Technology
6.2.1 Cold Forming
6.2.2 Thermoformed
6.3 By Country
6.3.1 Brazil
6.3.2 Mexico
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Amcor Limited
7.1.2 Constantia Flexibles
7.1.3 WestRock Company
7.1.4 Klockner Pentaplast Group
7.1.5 Sonoco Products Company
7.1.6 Competent Packaging Industries Inc.
7.1.7 Uflex Limited
7.1.8 Tekni-Plex Inc.
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. MARKET FUTURE OUTLOOK
Latin America Pharmaceutical Blister Packaging Industry Segmentation
The Latin American pharmaceutical blister packaging market study tracks blister packs offered by various vendors operating in the market. The study factors the prevalent base scenarios, key themes, and end-user vertical-related demand cycles. Blister packaging refers to packaging in which the product is placed in pre-formed blisters or cavities and secured with cards or pads.
The Latin American pharmaceutical blister packaging market is segmented by material (plastic, paper, and aluminum), process (cold forming and thermoforming), and country (Brazil and Mexico). The report provides the market sizes and forecasts regarding value (USD) for all the above segments.
| By Material | |
| Plastic | |
| Paper | |
| Aluminum |
| By Technology | |
| Cold Forming | |
| Thermoformed |
| By Country | |
| Brazil | |
| Mexico |
Latin America Pharmaceutical Blister Packaging Market Research FAQs
How big is the Latin America Pharmaceutical Blister Packaging Market?
The Latin America Pharmaceutical Blister Packaging Market size is expected to reach USD 0.96 billion in 2024 and grow at a CAGR of 7.30% to reach USD 1.29 billion by 2029.
What is the current Latin America Pharmaceutical Blister Packaging Market size?
In 2024, the Latin America Pharmaceutical Blister Packaging Market size is expected to reach USD 0.96 billion.
Who are the key players in Latin America Pharmaceutical Blister Packaging Market?
Amcor Plc, Sonoco Products Company, Constantia Flexibles Group GmbH, WestRock Company and Klockner Pentaplast are the major companies operating in the Latin America Pharmaceutical Blister Packaging Market.
What years does this Latin America Pharmaceutical Blister Packaging Market cover, and what was the market size in 2023?
In 2023, the Latin America Pharmaceutical Blister Packaging Market size was estimated at USD 0.89 billion. The report covers the Latin America Pharmaceutical Blister Packaging Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Latin America Pharmaceutical Blister Packaging Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Latin America Pharmaceutical Blister Packaging Industry Report
Statistics for the 2024 Latin America Pharmaceutical Blister Packaging market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Latin America Pharmaceutical Blister Packaging analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
