The blow fill seal technology market is expected to grow at a compound annual growth rate of 5.23% over the period 2019 to 2024 to reach a market size of US$473.751 million by 2024 from US$348.873 million in 2018. Blow fill seal technology refers to the manufacturing of a product in which a product is formed, filled, and sealed in a continuous process. The rising preference for convenient and hygienic packaging is expected to drive the market for blow fill seal technology. Further, the rising demand for flexible packaging coupled with increasing demand for blow fill seal technology by various industry verticals such as pharmaceutical, food & beverage among others is anticipated to fuel the market in the upcoming years. The market has been segmented on the basis of material, end-use, and geography. In the material segment, polypropylene is expected to hold a significant share in the market on account of its chemical resistance and heat resistance properties. Further, in the end-user segment, pharmaceutical is estimated to be a substantial shareholder due to the rising pharma industry across the globe coupled with the rising demand for precise dosage of medicines. Geographically, Asia Pacific is projected to grow at an appreciable rate on account of the rising pharmaceutical industry along with the growing packaging industry in developing countries like China and India.
The major players profiled in the Blow Fill Seal Technology market include Asept Pak Inc., Unolab, NEURAXPHARM, BioConnection, LyondellBasell Industries Holding B.V., Plastikon Industries Inc., and PrimaPharma Inc. among others.
The blow fill seal technology market has been analyzed through the following segments:
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