Monodose Packs Market 2029 Extend Growth and Technology Leadership: Vendors, Trends, Challenges, Drivers
According to Transparency Market Research’s latest report on the global monodose packs market for the historical period of 2015–2020 and forecast period of 2021–2029, the market is anticipated to be driven by the remarkable production growth, resulting from the rapid consumption of pharmaceutical, cosmetics, and food & beverage products across various regions of the globe
The global monodose packs market is expected to register a CAGR of 14.9% for rigid packaging products such as vials and ampoules during 2021–2029. This is mainly due to sharp increment in the demand for packaging of drugs & medicines for various forms of viral diseases, including dengue, Hepatitis A, and the most recent coronavirus. On the other hand, the global monodose packs market is anticipated to index a CAGR of 8.2% for flexible packaging products such as sachets & blister packs during 2021–2029.
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Convenient Use and Improved Application Accuracy Aid Penetration in Emerging Markets
Over the years, monodose packs have found use in numerous sectors such as pharmaceuticals, food & beverages, cosmetics, and home care. Reasons that aid the penetration of the product in the market are majorly its convenience factors, including small size, which makes the product easy to carry, pre-measured dose or quantity of the product and its improved applications in terms of accuracy of exact dose or amount delivered.
Nowadays, monodose packs are used by various large brands in numerous sectors to reduce the waste that is generally caused by the use of unnecessary bottles and containers. Moreover, monodose packs aid in preventing excess loss of the product, while dispensing or during application of the product. Monodose packs help to avoid or minimize product contamination, which is caused by the frequent contact by the user to the product.
According to different studies, monodose packs have witnessed peak success in many countries such as India, China, and Indonesia. The reason is not only the low cost when compared to the multiple-dose packaging, but also due to more people indulging in the trial of products using monodose packs, especially in the cosmetics sector.
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Need of Anti-counterfeit to Shape Developments in Monodose Packs Market
Barcodes on the monodose packs in the pharmaceutical sector are used to identify each individual dose and the counterfeit products by tracking the products in hospitals, which, in turn, ensures patient safety. The barcode includes identification of the drug by GTIN number, with expiry date and batch number.
The use of barcode not only ensures patient safety but also reduces medication errors in the logistics and supply chain of hospitals. The use of barcodes has numerous benefits such as faster alerts and better medication recalls, to reduce staff costs and manage raw material costs for repackaging of pharmaceutical products. All these factors are likely to offer enormous growth opportunities to monodose packs manufacturers in terms of revenue generation.
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Slightly Higher Manufacturing Cost to Hamper Market Growth
The global monodose packs market might potentially be hampered by the lack of technological advancements in manufacturing of monodose packs. In addition, manufacturing of monodose packs, especially for pharmaceutical products, requires more costly equipment and machineries to attain accurate dose or quantity measurement, and to manufacture the exact and accurate dimension of the packaging material of the stated quantity.
Most companies prefer to use plastic as an economical raw material in the production of sachets, blister packs, and mini tubes & mini jars. In developed countries, the growth outlook for the global monodose packs such as sachets is estimated to be slower in the upcoming years, due to various stringent rules and regulations imposed by government organizations on single use plastic products.
In European countries, in case of the pharmaceutical sector, the cost of monodose packs in the form of vials and ampoules is anticipated to be high, due to higher tax rates in the region. Except India and some other Asian countries, utmost other countries have greater per ml cost of stick packs and sachets as compared to larger family-size packs.
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Published Mon, 19 Sep 2022 14:20:35 -0500