Market Research Blog – Page 9477 – New Product Development

Drug Discovery Services Market worth USD 32 Bn by 2026 at a CAGR of 14.5% by 2032

The global demand for drug discovery services market is expected to rise at a 14.5% CAGR to acquire a valuation of US$ 50.9 Bn by the end of forecast period 2022-232. The global drug discovery services market size was valued at US$ 15.5 Bn in 2021 and is projected to reach a valuation of US$ 32 Bn by 2026

The global drug research services industry is booming as a result of increased funding for research and innovation in a multitude of segments. The drug discovery process is a significant part of the pharmaceutical sector. The study on drug discovery services market finds that the efforts of researchers towards the development of new drug prototypes have popularized outsourcing of drug discovery services. Moreover, growing spending on research and the development of novel medications for the treatment of deadly diseases and disorders has stimulated the demand for drug discovery platform. Pharmaceutical and biopharmaceutical businesses are opting for seamlessly engaged and multifunctional solution providers for drug discovery research, from the developing phase to the late testing stages. Emerging trends in drug discovery services market portends that pharmaceutical companies opt for outsourcing as a key choice to offset the shortage of in-house manpower required for new product development, as pharmaceutical businesses face great pressure to reduce overhead costs.

Restrictive laws regulating drug research and animal testing are projected to limit drug distribution to some extent. Drug discovery service organizations are facing restrictions due to a limitation of trained employees. The use of animals in pharmaceutical research is governed by strict laws. Mice, rats, fish, amphibians, and reptiles are the most common animals utilized in scientific studies. Considerations over the ethical use of animal experimentation have prompted countries to enact animal safety and use statutes, which raises a number of impediments to the future of drug discovery services market.

The drug discovery trends indicate that Biologics, such as proteins, peptides, and monoclonal antibodies, account for more than half of the therapeutic possibilities in the initial cycle. In 2022, biologics are estimated to make up for approximately half of the income earned by the top 100 pharmaceutical drugs. As per the global market study on drug discovery services, they provide the drug discovery services market with highest growth potential through the forecast period.

Despite the fact that small-molecule pharmaceutical companies monopolize the global pharmaceutical market, players working with biologics, biosimilars, and large-molecule drugs are tapping into the drug discovery services market opportunities primarily to introduce new biologic-based treatments and rising revenue from current biologics.

All-in-all, the drug discovery services market is expected to reach a valuation of US$ 32 Bn by 2026.

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Key Takeaways

The drug discovery services market is divided into two types–chemistry and biology services. In 2020, the chemistry drug discovery services category held the greatest proportion of the market.
Small molecules are expected to occupy the largest share of revenue when compared to biologics. Drug discovery statistics specify that small molecules are expected to generate more than US$ 10,800 million in revenue by the end of 2026.
The oncology category is predicted to have the leading position, owing to the increasing number of cancer patients around the world.
In comparison to other innovative drug discovery services, Hit-To-Lead identification is expected to acquire the most traction.
As the most revenue generating phase, several CROs are already delivering Hit-to-lead identification services to pharmaceutical corporations.

“The Asia Pacific drug discovery services market growth is anticipated to be the highest during the projected duration, owing to expansions happening in the pharmaceutical and biopharmaceutical industry. A high proportion of contract research organizations (CROs), government incentives, high research and development in pharmaceutical industry, and the involvement of less restrictive standards for drug discovery programs (particularly in terms of using animals for research) across several APAC countries are some drivers sustaining the healthy growth of the drug discovery services market.”, opines a seasoned FMI analyst.

Competitive Landscape

The COVID-19 pandemic highlighted the importance of outsourcing drug discovery services for companies and research groups in North America. These companies are now working together with the government to facilitate the drug discovery process.

Existencia, a business using artificial intelligence in drug discovery, announced a collaboration with Diamond Light Source and Scripps Research on March 31, 2020, to identify COVID-19 antiviral treatments.
Samsung Biologics, a South Korean pharmaceutical business, has signed a long-term partnership with Eli Lilly and Company to develop bamlanivimab, an investigational COVID-19 virus-neutralizing antibody.

Genesis Therapeutics and Genentech announced a multi-target drug discovery AI partnership in November 2020. Genesis’ graph machine learning and drug discovery skills will be used in this cooperation to identify novel drug candidates for therapeutic targets in a variety of illness domains.

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Key Segment

By Process:

Target Selection
Target Validation
Hit-to-Lead Identification
Lead Optimization
Candidate Validation

By Type:

Chemistry Services
Biology Services

By Drug Type:

Small Molecules Drugs
Biologics Drugs

By Therapeutic Area:

Neurology
Infectious and Immune System Diseases
Digestive System Diseases
Oncology
Other Therapeutic Area

By End User:

Pharmaceutical & Biotechnology Companies
Academic Institutes
Manufacturing
Other End Users

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

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Cold Disposable Biopsy Forceps Market Size to be worth USD 1,215.0 Bn by 2031 | FMI

According to a recent study by Future Market Insights (FMI), the cold disposable biopsy forceps market is expected to witness high growth during the forecast period. The market value is slated to increase from US$ 505.1 Mn in 2020 to over US$ 1.2 Bn by 2031 at 8.4% CAGR over the forecast period (2021-2031).

The cold disposable biopsy forceps market will register high demand due the rising prevalence bronchitis and gastrointestinal disorders such as IBD and GERD among the geriatric population and the increasing awareness towards endoscopic procedures. There is also a rise in the adoption of disposable biopsy forceps that to be reliable for test sampling expects to gain popularity.

At present, the minimally-invasive technology, with the endoscope system at the core, has been extended to obstetrics, general surgery, otolaryngology, gynecology, thoracic surgery, urology, pediatrics, and other departments. Minimally-invasive endoscopic technology has become an indispensable technology for the diagnosis and treatment of chronic diseases associated with breathing, digestion, urology, otolaryngology, and so on.

With the rising demand for endoscopic minimally-invasive technology and continuous improvement in endoscopic processing technology, endoscopic applications have become prominent in almost all departments. The growing demand for diagnosis and endoscopic treatment is expected to further boost the demand for cold disposable biopsy forceps.

Numerous recent technological advances are becoming available to endoscopists. An abundance of new imaging modalities is expected to facilitate early detection of chronic disorders and other pathological entities. Most of these techniques remain investigational and are currently in clinical trials to determine patient benefits.

Companies are expanding their product lines by manufacturing different types of products for a wide range of applications.

For instance, Micro-Tech Endoscopy is mainly engaged in the R&D, manufacturing, and sales of minimally-invasive medical devices, in line with its mission of supporting clinicians with technology and innovation.

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Key Takeaways from Cold Disposable Biopsy Forceps Market Study

Oval cup forceps gained popularity and their sales are expected to grow at a CAGR of 8.8% during the forecast period.
8 mm diameter have sharpened cups whch ensure superior cutting performance and lead to fewer artefacts and less bleeding. The segment is therefore expected to account for a share of 24.9% in 2021.
2300 mm length forceps has precise jaws, no tearing and cause small wound. The segment accounted for the highest share of 37.9% in 2021.
Upper GI Endoscopy dominated the application segment with the highest market share of 24.9% in 2021.
Hospitals accounted for the largest share of around 42.0% in 2021 and will remain the end user in the market.

“High prevalence of conditions such as IBD and GERD and growing demand for minimally invasive endoscopic procedures are set to boost the demand for cold disposable biopsy forceps market over the next decade,” says the Future Market Insights analyst.

Who is winning?

The key players are focusing on acquisitions and partnerships with small players and suppliers to increase their market presence. Besides this, they are adopting various strategies to expand their footprint. For instance:

iIn April 2018, Boston Scientific Corporation closed its acquisition of NxThera. The company developed a minimally-invasive therapy the Rezūm system, for patients suffering from symptomatic benign prostatic hyperplasia. With the completion of the acquisition, NxThera became a part of Boston Scientific’s urology and pelvic health business. Moreover, the manufacturers are focusing on research and development activities for developing cold disposable biopsy forceps for various research applications.

In july 2020, ChargePoint and STERIS collaborated to develop a fully validated sterile transfer solution to offer a unique and integrated solution for sterile product transfer.

Some of the leading players in the cold disposable biopsy forceps market include but are not limited to Olympus Corporation, Boston Scientific Corporation, STERIS, CONMED Corporation, Cook Medical, Micro-Tech Endoscopy, Anrei Medical and other companies.

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Want more insights?

Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2031. The global cold disposable biopsy forceps market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The cold disposable biopsy forceps market is segmented into six parts based on product (oval cup, oval cup with needle, alligator jaw, alligator jaw with needle) based on diameter (1.2mm, 1.8mm, 2.0mm, 2.4mm, 2.8mm, 3.7mm) based on length (1150 mm, 1550 mm, 2300 mm), based on application (enteroscopy, upper GI endoscopy, lower GI endoscopy, bronchoscopy and others, based on end user (hospitals, ambulatory surgical centers specialty clinics, diagnostic laboratories, and cancer research institutes) and across seven major regions.

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High-end Cellomics Market Is Expected to reach USD 536.9 Mn by 2031 | FMI

According to a recent Future Market Insights (FMI) industry analysis, the demand in the high-end cellomics market is expected to top US$ 288.8 Mn in 2021, growing at a CAGR of 6.4% during the forecast period 2021-2031.

High-end cellomics is a process that is utilized in drug discovery and biological research to identify substances such as small molecules, RNAi or peptides which alter the phenotype of a cell in a wanted manner.

The global high-end cellomics market is primarily driven by increasing technological advancement in imaging solutions. Technological advancements such as the usage of polarization methods, multicolored fluorescence-based reagents, automated imaging technology, and flow cytometry are also anticipated to boost the market growth further.

Increasing investment in research and development in cellular science of novel molecules by private and government organizations, technological advancement in imaging solutions, and advantages related to these innovations such as improved scope for pplication in gene documentation & neonatal development learning will drive the high-end cellomics market.

Key Takeaways from High-end Cellomics Market Study

The global high-end cellomics market is expected to reach US$ 536.9 Mn by 2031.
By application, drug discovery accounted for 55.5% of overall sales in 2021 and is expected to continue to grow at the same trend during the forecast period.
By end-users, pharmaceutical and biotechnology companies will account for the largest share of 51.8% during the forecast period.
By region, North America held the largest share of 32.7% of the global high-end cellomics market.
By country, the U.S. is the most lucrative market in the global high-end cellomics market with US$ 81.7 Mn revenue in 2021.

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Who is Winning?

Some of the leading manufacturers of high-end cellomics are focusing on product approvals and launch strategies for global expansion objectives, thereby, enhancing their market presence. The leading key players are focusing on strategic alliance to expand the product offerings.

Yokogawa Electronic Corporation in December 2020, agreed with InSphero AG to jointly promote the use of Yokogawa’s high-end cellomics systems for drug discovery research which actively involves the use of 3D in vitro models.

The key market players covered by FMI include PerkinElmer, Inc., ThermoFisher Scientific, Inc., Molecular Devices LLC (part of Danaher Corporation) and Yokogawa Electric Corporation.

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Future Market Insights facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you in devising innovation-driven trajectories for your business. Know more about our sector coverage here

High-end Cellomics Market by Category

Application:

Academic Research/Basic Research
Drug Discovery
- Primary & Secondary Screening
- Target Identification & Validation
- Invitro Toxicity Studies
- Compound Profiling

End-User:

Pharmaceutical & Biotechnology Companies
Academic & Research Institutes
Independent Contract Research Organizations (CROs)

Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
The Middle East and Africa (MEA)

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Table of Content

Executive Summary

1.1. Global Market Outlook

1.2. Demand Side Trends

1.3. Supply Side Trends

1.4. Analysis and Recommendations

Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

2.3. Inclusion & Exclusion

Key Trends

3.1. Key Trends Impacting the Market

3.2. Trends in Diverse Application

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Needle-Free Injectors Market Worth USD 13.78 Billion by 2032 | Future Market Insights

The global needle-free injectors market size is likely to accumulate value of US$ 13.78 Billion in 2022, and is expected to reach US$ 13.78 Billion by registering a CAGR of 12% in the forecast period 2022-2032

Needle-free injection is an innovative drug delivery technology that drives drugs to the skin using force which virtually nullifies the use of hypodermic needle. With growing preference for non-invasive drug delivery system and vaccines, adoption of needle-free injectors is expected to improve over the coming years

Application of needle-free injectors is increasing with rising incidence of diabetes and other chronic diseases across the globe. With increasing number of surgeries, demand for minimally invasive procedures is accelerating the sales of needle-free injectors.

According to Centers for Disease Control and Prevention (CDC), more than 51% of adults in U.S. had at least 1 chronic condition, and 27.2% had multiple chronic conditions in 2018.

Other factors driving the global demand are cost-effectiveness and safety related to needle-free injectors.

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Key Takeaways from Needle-free Injectors Market study

By load type, liquid injections segment will hold around 88.0% of value share globally.
Based on the technology, spring-loaded jet injector is dominating the market, with over 48.0% of the market share.
Based on the delivery site, intra dermal injector is expected to hold over 33% of the market share.
Application of drug delivery will spur the sales of needle-free injectors, with the segment accounting for 65% of the market share.
Based on the usage, reusable needle free injectors are highly sought-after, contributing over 78% of the market revenue.
Hospitals are expected to be the primary end-users, holding a market share of 28% during the forecast period.
By region, North America will dominate the global needle-free injectors market, holding 42% of total market share.
Europe is expected to be the second-largest market, with Germany spearheading the market growth .
India will emerge as the most lucrative market across South Asia, accounting for nearly 50% of market share in 2021.
China will hold leading position in East Asia and is expected to account for nearly 46% of market share.

“Growing prevalence of chronic diseases coupled with rising preference of non-invasive drug delivery system will improve the adoption of needle-free injectors. With rising demand for needle-free injectors, key players are introducing new product launches and are aiming for fast track approvals to capitalize on existing opportunities and sustain their position in the industry “says the FMI Analyst.

Who is Winning?

New product launches and approvals, agreements, and collaborations are some of the key growth strategy adopted by the key players. By focusing on these strategies, key players intend to expand their global presence and strengthen their existing product portfolio.

For instance,

In November 2019, Antares Pharma collaborated with Idorsia for the development of a novel self-administered drug-device product.
In June 2020, Vitaeris Inc., a biotech company was acquired by CSL Limited. The acquisition was carried out by CSL Limited to achieve the motive of addressing the unmet needs of patients.

The key market players covered by FMI include Pfizer, Inc., Gerresheimer AG, Ferring Pharmaceuticals, CSL Limited (Seqirus UK Limited) and others.

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Key Segments Profiled In The Needle-Free Injectors Market Industry Survey

Needle-Free Injectors Market by Load:

Needle-Free Injectors by Liquid Injections
Needle-Free Injectors by Powder Injections
Needle-Free Injectors by Projectile Injections

Needle-Free Injectors Market by Technology:

Needle-Free Injectors by Spring-loaded jet injector
Needle-Free Injectors by Battery-powered jet injector
Needle-Free Injectors by Gas-powered jet injector

Needle-Free Injectors Market by Delivery Site:

Needle-Free Injectors by Intra dermal injectors
Needle-Free Injectors by Intramuscular injectors
Needle-Free Injectors by Subcutaneous injectors

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Bioprocess Technology Market to Hit USD 81.2 Bn by 2031 | Future Market Insights

According to a recent study by Future Market Insights (FMI), the global Bioprocess Technology Market was valued at US$ 17.3 Bn in 2020 and is expected to register a CAGR of 15.2% during the forecast period (2021-2031). It is projected to generate a revenue of US$ 81.2 Bn by the end of 2031.

Technology has always been at the heart of biotech. The emergence of advanced computing technology such as machine learning and artificial intelligence has enabled companies to expand the scale of their research and improve efficiency in the manufacturing process—both of which reduce the time it takes for biotech firms to bring new products to market.

Increasing research and development spending on pharmaceutical products has improved the well-being of patients to a significant level. Today vaccines have proven to be one of the most effective ways to prevent children from infectious diseases. This is highly possible due to increased government spending on research & development in the life science stream.

For instance, in May 2020, AbSci Inc. closed USD 15.4 Mn in series D funding to accelerate the growth and scale of disruptive protein printing technology, by announcing an exclusive co-marketing partnership with KBI Biopharma.

There are currently more than 1,500 biomolecules undergoing clinical trials, which target more than 100 hundred types of diseases and success rate for biologics has so far been over twice that of small-molecule products.

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Key Takeaways from Bioprocess Technology Market Study

In 2021, the BIOTECH/BIOPHARMACEUTICAL COMPANIES segment is expected to dominate the global bioprocess technology market with a 44.0% market share, whereas, CDMO/contract research organization segment is expected to occupy over 40% of the market share.
By product, the upstream segment dominated the global Bioprocess Technology Market with a 64.8% market share.
Europe and East Asia dominated the global Bioprocess Technology Market occupying over 24.3% and 14.7% market share, respectively.

Who is winning?

Some of the leading companies of Bioprocess Technology Market are focusing on their extensive portfolio of single-use cell culture bioreactors, containers, strong distribution channels, and strategic selling to the leading biopharmaceutical manufacturing entities.

Thermo Fisher Scientific Inc. is a multinational biotech company that develops, manufactures, and distributes products in the areas of healthcare & diagnostics, life sciences, pharmaceuticals, and others. In Sep 2020, Thermo Fisher Scientific Inc. announced the opening of its new Bioprocessing Collaboration Center (BCC) in St. Louis, Missouri.
Sartorius AG is a leading provider of contract testing services to the global biotechnology and biopharmaceutical industries. In July 2020, Sartorius Stedim Biotech acquired a majority stake in CellGenix to strengthen its product portfolio for cell and gene therapies.
Danaher Corporation designs manufacture and markets professional, medical, industrial, and commercial products and services. In March 2020 Danaher Corporation acquired the Biopharma business from General Electric’s Life Sciences division.

The key market players covered by FMI include Thermo Fisher Scientific Inc, Sartorius, Merck KGa, Danaher Corporation, Applikon Biotechnology B.V., Lonza AG, Bio-Rad Laboratories, Agilent technologies, Solida Biotech GmBH, and Waters Corporation.

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Key Segments:

Product:

Upstream Equipment
- Cell culture development products
  - Cell line development products
  - Cell Lines
  - Media, Sera and other additives
  - Cell line development kits
Lab-scale Bioreactors
- Continuous Stirred Tank Bioreactors
- Bubble Column Bioreactors
- Airlift Bioreactors
- Fluidized Bed Bioreactors
- Packed Bed Bioreactors
- Photo-Bioreactors
Scale-up and production products
- Cell culture media and feeds
- BioProcess Containers & Fluid Transfer Solutions

Single-use
Reusable

- BioReactors

Single-Use Bioprocess Equipment
Continuous Bioprocess Equipment
Real-Time Bioprocess Equipment

- Harvest and collection

- - Harvest and separation products
  - Centrifuges for bioprocessing
  - Storage & Transport Products
    v. Production Tanks and Drums
    v. Outer Support Containers
Testing Products
- Cell Counters & Viability Analysis Systems
- Contamination & impurity testing products
Probes and Accessories
Downstream Equipment
- Downstream purification
  - Chromatography Instruments
  - Chromatography Columns
  - Others (Resins and accessories)
- Buffer preparation and supply
  - Reagents
  - mixing systems
Process analytical testing
- Host cell residual DNA quantitation
- Protein quantitation
- Microbial identification
- Others
Probes and Accessories

End-User:

Biotech / Biopharmaceutical Companies
CDMO / Contract Research Organization
Research / Academic Institutes

Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
The Middle East and Africa (MEA)

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Table of Content

Executive Summary

1.1. Global Market Outlook

1.2. Demand Side Trends

1.3. Supply Side Trends

1.4. Analysis and Recommendations

Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

2.3. Inclusion and Exclusions

Key Market Trends

3.1. Key Trends Impacting the Market

3.2. Method Innovation / Development Trends

Key Inclusions

4.1. Porters Analysis

4.2. PESTLE Analysis

4.3. Product Adoption Analysis

4.4. Key Strategies of Key Manufacturers

4.5. Technology Assessment

4.6. Regulatory Scenario

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Packaging Laminates Market: Trends, Opportunities, Restraints 2030

In a recent market study by Future Market Insights (FMI) on the packaging laminates market is poised to expand at a steady 5% CAGR throughout the projected period, 2020-2030. The growth can be mainly attributed to the increasing shelf lives of food items along with other perishable commodities and an easy way to preserve goods. Several industries such as pharmaceuticals, food, and personal care & cosmetics are increasing consumption of packaging laminates. Market players are offering products as per industry requirements to maintain their competitive edge. Furthermore, they are reinforcing their existence by upgrading their product lines and establishing robust distribution and supplier networks.

However, the COVID-19 Pandemic has introduced a major slowdown of growth across various end-use industries due to the interruption of manufacturing cycles amid strict lockdowns. FMI anticipates that the demand will gain traction by the beginning of 2021 as a result of a surge in intake of healthcare consumables, processed & fresh ready-to-eat foods and homecare & hygiene products are prompting vendors to fortify their supply chains.

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“Stringent environmental compliance standards to decrease waste is compelling vendors to initiate sustainable & eco-friendly packaging material, offering future growth prospects,” infers an FMI analyst.

Packaging Laminates Market – Key Takeaways

In terms of material type, the Metallized polypropylene (PP) films will attain more than 35% of the revenue share, recording an optimistic 5.1% value CAGR throughout the assessment period.
Based on thickness, the 30-45 microns category will attain the majority of market share reaching US$ 4.0 Bn by 2030, as it is the ideal size utilized for packaging several items, chiefly perishable foodstuffs.
Based on application, aseptic packaging will remain the key beneficiary of the global market, recording a 5.1% CAGR across the assessment period.
By the end-use industry, the food industry will account for a market share of over 50% by 2030.

Packaging Laminates Market – Key Trends

Packaging laminates printing to enhance brand image and their brand value to meet consumers’ customized requirements are likely to gain momentum during the forecast period.
The surge in demand for immunity-boosting foods, hygiene products, and healthcare consumables have augmented the requirement for packaging laminates.
Growing adoption of flexible packaging solutions complementing market growth as it enhances the product’s shelf-life and convenient user experience.
Expansion of modern retail format allowing to accommodate ready-to-eat packaged foods, pharmaceutical, and cosmetics products, thus boosting demand for packaging laminates

Packaging Laminates Market – Regional Analysis

North America will reflect lucrative growth prospects, recording a CAGR of 3.8% over 2020-2030, due to the presence of major players in the region.
Europe, led primarily by Germany, is projected to enjoy lions share valued at over half of the total revenue.
East Asia, mainly dominated by China will account for one-fifth of the overall revenue share due to rapid industrial development.

Packaging Laminates Market – Competitive Landscape

Key companies functioning in the global packaging laminates market are WIN-PAK LTD, Amcor Plc, Berry Group Global Inc., Mondi Group Plc, Scur Flexibles Holding GmbH, Jindal Poly Films Limited, ProAmpac LLC Uflex Ltd., and Coveris Holdings S.A.

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Packaging Laminates Market – Market Segmentation

Material Type

Aluminum Foil
Paper & Paperboard
Metallized PP
Metallized BOPP
Metallized OPP
Metallized CPP
Metallized PET
Metallized PA
Metallized PE
Metallized PVC
Others (PVC, EVOH, etc.)

Thickness

Up to 30 Microns
30-45 Microns
45-60 Microns
Above 60 Microns

Application

Aseptic Packaging
Non-aseptic Packaging

End-Use Industry

Food
Salty Snacks
Confectionary
Tea & Coffee
Ready-to-eat Foods
Meat, Poultry & Seafood
Fruits & Vegetables
Others
Pharmaceuticals
Cosmetics & Personal Care
Others

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Get Valuable Insights into the Packaging Laminates Market

Future Market Insights, in its new offering, provides an unbiased analysis of the global Packaging Laminates market, presenting historical demand data and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the Packaging Laminates market, allowing readers to glean qualitative and quantitative information which will enable them to make informed market decisions in the upcoming forecast period.

How has COVID-19 impacted Pharmaceutical Plastic Packaging Market?

The pharmaceutical plastic packaging market is projected to progress to US$ 83.9 Bn by the year 2030 at a CAGR of 5.8% between 2022 and 2030.

Pharmaceutical plastic packaging is highly sought-after for superior barrier characteristics. In addition, resistance to breakage, leaks and corrosion, and high compatibility with modern printing technologies make plastics a favorable option for drug manufacturers.

The market for pharmaceutical plastic packaging is witnessing a promising growth owing to efforts by manufacturers towards the incorporation of anti-counterfeiting technologies such as QR codes, and nanomaterials, along with sustainability initiatives including bio-based plastics, and recycled plastics.

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The integration of smart-packaging technologies to improve patient compliance, and to prevent unauthorized access will also support market growth.

Rising demand for medication, particularly in developing countries, the vast population of geriatrics, issues of antimicrobial resistance, and stricter rules associated to medical safety and the environment are major influencers in the market.

However, manufacturers continue to be challenged by factors such as poor ductility and heat resistance, potential risk of instability and interactions between, pharmaceutical formulations and the container. Also, plastic packaging does not provide high clarity levels, which can be an issue in terms of inspections.

Key Takeaways

Rigid plastic packaging products are gaining traction in the pharmaceutical sector owing to better protective and recyclability characteristics.

Prefilled syringes and cartridges are displaying strong growth owing to simplicity of use and better accuracy in dosage.
Innovations in tamper evident and child resistant designs support adoption rates.
North America and East Asia are prominent regional markets for pharmaceutical plastic packaging.

“In the near future, pharma plastic packaging will transition towards sustainable material options for design and production. Efforts to minimize plastic waste will bolster use of polyethene terephthalate (PET), which can be easily recycled,” says the FMI analyst

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Covid-19 Impact on Pharmaceutical Plastic Packaging Market

The ongoing coronavirus pandemic will have significant influence on the pharmaceutical plastic packaging industry. The outbreak has revealed faults in supply chains, and will force market players to optimize strategies, minimizing vulnerabilities. In addition, restrictions on international trade will generate opportunities for local suppliers.

Also, the pandemic is expected to result in a surge of demand for antiviral and antimicrobial properties to reduce the risk of Covid-19 transmission through packaging services.

Ampoules and vials in particular are likely to gain investments. Blister packs and trays will find lucrative opportunities. On the other hand, sustainability initiatives will lose priority, while automation and robotics in production processes will gain traction.

Who is Winning?

In a new report, FMI has studied the strategies deployed by major companies participating in the pharmaceutical plastic packaging market. Market leaders have been pushing for strategic expansions of production capabilities with the deployment of new facilities or the expansion of existing ones. The expansion strategy also focuses on bolstering geographic penetration in emerging economies to leverage operational cost benefits.

Some of the participants operating in the contact tracing applications market include

Gerresheimer AG,
Schott AG,
Alpha Packaging Holdings Inc.,
Klockner Pentaplast Group,
Amcor plc,
Berry Global Inc.,
Becton Dickinson and Company,
Parekhplast India Ltd.,
West Pharmaceutical Services Inc.,
Wipak Group,
Mondi plc,
Sealed Air Corporation, and
Constantia Flexibles Group GmbH.

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Key Segments Covered in Pharmaceutical Plastic Packaging Industry Research

By Product:

Plastic Bottles
Caps & Closures
Pre-Fillable Inhalers
Pre-Fillable Syringes
Ampoules & Vials
Blister Packs
Bags & Pouches
Jars & Canisters
Cartridges

By Packaging Type:

Primary
Secondary
Tertiary

By Drug Delivery Mode:

Oral Drug Delivery Packaging
Injectable Packaging
Topical Drug Delivery Packaging
Pulmonary Drug Delivery Packaging
Transdermal Drug Delivery Packaging
Ocular Drug Delivery Packaging
Nasal Drug Delivery Packaging
Other

What’s The Key Success Factor For Growth Of BOPA Films?

Future Market Insights forecasts that the global BOPA films market is expected to reach US$ 1.6 Bn by the year 2030 at a CAGR of 5.3% between 2022 and 2030. Over the last few years, consumers have rapidly inclined towards flexible packaging owing to its portability and convenience factors such as reseal ability, microwaveable packaging, easy-open packs, carry-away packs, and longer shelf lives.

BOPA films are suitable for packaging of food products like frozen and cooked food, liquid and viscous food, liquid bag-in-box, fruits & vegetables, which has won them a special place in food packaging amongst most vendors.

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Technological advancements in pharmaceutical packaging such as next-generation blister packaging and serializable blood & parenteral nutrition bags made from BOPA films are expected to play a crucial role in demand growth of the market.

Analysts also expect that increased production of a wide array consumer goods will require packaging formats such as single-dose creams and soaps and stand up pouches, which will also open up add to the revenue earned by the market in the coming decade.

Key Takeaways of BOPA Films Market Study

Food industry is estimated to be the key end user of BOPA films market and it is poised to account for 2/3^rd of the BOPA films global market by 2030
A substantial portion of the BOPA films market share is captured by nylon 6 grade as end user prefer its high impact strength and easy orientation from both axis
11 to 20 microns is the preferred thickness in the manufacturing of BOPA films, which is likely to account for 60% of the global market by value at end of 2030
East Asia to represent an incremental opportunity of US$ 241.4 Mn by the end of 2030 with presence of major BOPA films manufacturers such as Unitika, Mitsubishi, Toray, and others in the region

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“The demand for BOPA films in packaging is expected to increase in the years to come as the companies opt for flexible for functional solutions at affordable pricing. Increasing beauty and cosmetic industry and rising demand for improved packaging in the pharmaceutical industry are also projected to give the BOPA market a shot in the arm,” says an FMI analyst.

Demand for Transparent Packaging Solutions for Easy Recognition to Up BOPA Consumption

Transparency of a package is often a preferred form of packaging by most end users. If consumers aren’t able to see what’s inside the package, they are less likely to purchase it. As the demand for see-through packaging is on the rise, particularly in the packaging of food products, it is expected to boost the uptake of BOPA films.

Clearer packaging gives a visually pleasing look and therefore enhances the product’s shelf visibility. Thus, transparent packaging serves as a value addition to the consumer goods market, where product separation and quick identification is the focal point.

Transparent and flat surfaces can also be attained by using multi-layer BOPA films as they offer superior transparency and improves the overall quality of the package. This also saves on packaging costs for printing, and labelling, as the majority of the surface is intended to give the package a visual appeal.

In addition, the glossy surface of BOPA films, which gives the perfect print finish, would give stakeholders an ability to sell their brands by improving the overall appeal of their products. Benefits also include adding mechanical strength and heat resistance to the film, high ductility, and impact strength to film, which is boosting its market growth.

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Impact of COVID-19 on BOPA Films Market

Significant amount of BOPA films demand is reliant on food packaging industry. The BOPA films are used in the packing of meat & poultry, cheese, frozen food, ready-to-eat foods, fresh fruits and vegetables. Due to COVID–19 outbreaks, people are also opting for packaged food items, which has had a short-term positive impact on the market.

Consumers are expected to prefer packaged food due to its limited handling. Furthermore, as the packs can be disinfected and stored, consumer is likely to spend more on this segment.

On the flip side, the global uncertainty of COVID–19 has impacted the BOPA films market with disruption of production, raw material procurement, and supply to end users. Analysts anticipate that this continue for the next two quarters of 2020.

Rapidly changing consumer shopping habits from offline to online platforms, unused stock and inventory across food & beverage segment, and extended lockdowns are expected to negatively impact the BOPA market.

BOPA Films Market Landscape

Unitika Ltd., Mitsubishi Chemical Corporation, Toray Advanced Film Co., Ltd., and Winpak Ltd. are the top players operating in the BOPA films market. Besides, Kolon Industries Inc., Hyosung Corporation, TOYOBO Co., Ltd., A.J. Plast Public Company Limited, Sojitz Plastics America Inc., and Domo Chemicals are some other prominent players in the BOPA films market.

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The Tier 3 players in the market hold around 40-45% in the global BOPA films market. In conclusion, key players contribute almost 55% of the global BOPA films market as there are fewer BOPA film manufacturers.

BOPA Films Market Report

Future Market Insights, in its new report, offers an unbiased analysis of the global BOPA films market, analysing historical demand from 2015-2019 and forecast statistics for 2020-2030. The study reveals growth projections on the BOPA films market on the basis of grade (Nylon 6 and Nylon 66), thickness (Up to 10 Micron, 11 to 20 Micron, 21 to 30 Micron, and Above 30 Micron), end use (Food, Pharmaceutical and Healthcare, Electrical and Electronics, Chemicals, Others (Industrial Packaging) and across seven regions.

How Luxury Goods Market Boosts the Demand for Luxury Rigid Boxes?

Luxury rigid boxes market is projected to reach over US$ 5.4 Bn by 2030, as per the new market study published by the ESOMAR-recognized research firm Future Market Insights.

Luxury rigid boxes have been an ideal solutions for product premiumization. They add to the appearance and aesthetics, boosting sales of the beauty and personal care products. This has prompted the end-use segment to use luxury rigid boxes to make impactful designs to lure in more consumers. With a booming beauty products market, analysts anticipate that luxury rigid boxes will see excellent growth opportunities.

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The global leaders of beauty and personal care industries including Unilever, L’Oréal, Estée Lauder Procter & Gamble, and Shiseido and Coty have collectively reported soaring revenues, which is expected to translate with bigger budgets for luxury packaging of products. North America and Asia Pacific leading market for beauty and personal care markets and holding nearly 64% market share. All of these statistics point towards brilliant growth opportunities for luxury rigid boxes, which are continuously evolving to keep up with the changing demands. Today, demand for eco-friendly packaging materials is also being factored in the production of luxury rigid boxes.

New stores are rapidly opening in developed and developing countries to fulfil the increased demand from people for luxury goods such as expensive watches, jewelry, apparels, and many others. The increased expenditure of individuals and willingness to buy customized products are key factors due to which the luxury goods market is growing.

In the luxury goods market, packaging plays a significant role in increasing product value. The growth in openings of luxury product stores in Europe, Asia Pacific, and North America is estimated to increase the demand for luxury boxes in the forecast period.

How Global Luxury Goods Market Boosts the Demand for Luxury Rigid Boxes?

Luxury rigid boxes Market Landscape

The global luxury rigid boxes market is fragmented and it is anticipated to witness tough competition among the manufacturers across several regions. This market consist of strong key players focusing on innovative product development. Besides this, new players are entering into the market owing to significant sales creation with the increasing demand for luxury boxes in cosmetics, food and beverages and personal care industries.

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The key players of global luxury rigid boxes market are

Robinson Plc,
McLaren Packaging Ltd,
DS Smith Packaging Limited,
PakFactory,
Madovar Packaging Inc.,
Burt Rigid Box, Inc.,
Holmen AB ADR (Iggesund Paperboard),
Elegant Packaging,
Elite Marking Systems,
Design Packaging, Inc.,
Bigso Box Of Sweden,
ACG | Ecopack (Finn Industries, Inc.):,
JohnsByrne, Sunrise Packaging, Inc.,
Asia Korea Printing Inc.,
Bell Printers,
Prime Line Packaging,
Autajon, Npack ltd.,
Taylor Box Company, among others.

Key Takeaways of Luxury rigid boxes Market Study

Consumer goods industry is estimated to account for more than 1/3rd of the luxury rigid boxes market by 2030
Two piece boxes estimated to have an incremental opportunity of US$ 268 Mn by 2025
Paper and paperboard estimated to account for 68% of the global market by value, and reach slightly over US$ 3.6 Bn in 2030
Magnetic closure is estimated to gain by 180 bps of current market share during the forecast period
Foam inserts are estimated to have a significant market share by insert types, accounting for more than half of the market share by 2030
Asia Pacific is estimated to have an incremental opportunity of US$ 930 Mn by 2030 with the increasing demand for luxury boxes for confectionery product packaging

“Luxury rigid boxes are the elegant and sophisticated medium for presenting products. Additionally, these boxes promote impulse purchasing of the products. Demand for luxury rigid boxes among end users is consistently increasing to build and enhance positive brand image. In spite of declining phase of luxury rigid boxes market in 2020 due to COVID 2019, significant revenue generating opportunities are anticipated with explosive nature of e-commerce and digital shopping,” says and FMI analyst.

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Players Aim at Mergers & Acquisitions to Expand Product Portfolio

As a part of growth strategy, companies are emphasizing on mergers & acquisitions of small or medium sized specialized companies in order to expand their product portfolio, market footprint, increasing brand value, strengthen supply chain network etc. Some of the deals in past years are as follows –

In January 2022, Metsä Board, the paperboard and packaging manufacturer, introduced new luxury box named SkinCare 2.0 gift box which uses fibre-based materials to replace plastic
In November 2021, Fresnels Inc, the company which provides packaging solutions, developed a new recycled folding carton features dynamic nanotechnology decorative elements to catch the eye and interact with customers in the retail beverages environment.

Catering to the growing sentiment of eco-friendly packaging to reduce the pressure on landfills and to ensure responsible packaging is expected to create worthwhile opportunities for the players.

Form Fill Seal Machine Market In-Depth Analysis with Booming Trends Supporting Growth and Forecast 2032

Form fill seal machine is an automated assembly line product packaging machine. Form fill seal machines are used in different industries such as food & beverages, electronics, chemicals and pharmaceuticals. Form fill seal machines are sophisticated having computer interfaces and control networks. Form fill seal machine works very fast as well as it is versatile in nature.

Over the past few years, there is an increasing demand for Form fill seal machine because of the busy life of the people and increasing awareness of the environment. Apart from this the increasing health consciousness and authenticity and trust regarding the particular brand also help to drive the global form fill seal machine market over the forecast period.

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Form fill seal machine: Market Dynamic

The Form fill seal machine market is anticipated to be driven by the increasing growth of food & beverage industry. Retort pouches, standard pouches, and spouted pouches are made from the form fill seal machine. Increasing growth in the retail industry coupled with the nuclear family is expected to fuel the sales of single-serve packs that in turn escalates the growth of the form fill seal machine market during the forecast period.

Apart from that increasing demand of light-weight pouches is expected to further intensify the sales of form fill seal machine. Moreover, manufacturers are inclined to provide the products in short span of time and they are trying to minimize the cost related to packaging.

For that many manufacturers are expected to adopt form fill seal machine in the near future owing to its economic price. Besides this increasing the growth of pharmaceutical sector and cosmetic & personal care sector can impact the growth of form fill seal machine market positively.

Form fill seal machine Market: Regional outlook

In terms of geography, the global form fill seal machine market has been divided in five key regions including North America, Latin America, Europe, Asia-Pacific and Middle East & Africa. Asia Pacific region is expected to generate maximum CAGR in comparison to the other regions. Especially India and china are the lucrative markets for form fill seal machine market owing to the increasing growth of food & beverages and pharmaceutical industry.

North America and Europe are also expected to witness moderate growth during the forecast period. But, Middle East and Africa region are anticipated to be slothful throughout the forecast period.

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Form fill seal machine Market: Key players

Some of the key players in the global Form fill seal machine market are Bosch packaging technology, Matrix, ARPAC LLC, Mespack SL, Pro Mach, Kliklok woodman, Velteko, Havar & Boecker, Triangle package machinery company, MDC engineerinc Inc etc.. companies are emphasizing on new product development in order to main the competitive advantage in the global form fill seal machine market during the forecast period.

This research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically-supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, product type, material type, and end-use.

The Report covers exhaust Analysis on

Market Segments
Market Dynamics
Market Size
Supply & Demand
Current Trends /Issues/Challenges
Competition & Companies involved
Technology

Regional Analysis includes

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

The report is a compilation of first-hand information, qualitative, and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain.

The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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Form fill seal machine: Market Segmentation

The global form fill seal machine market is segmented on the basis of type of the machine, product type and end user:

Based on the type of machine the global form fill seal machine market is segmented into:

Vertical form fill seal machine
Horizontal form fill seal machine

Based on the type of product the global form fill seal machine market is segmented into:

Bags
Cartons
Others (pot trays, sachets, sacks)

Based on the end user global form fill seal machine market is segmented into:

Food & beverages
Cosmetics & Personal care
Pharmaceutical
Others (Tobacco)

About Us:

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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