Pharmaceutical Blister Packaging Market Overview
Although the global pharmaceutical blister packaging market is projected to witness positive growth over the coming years, pharmaceutical blister packaging manufacturers are experiencing a tragic setback in terms of losses faced and low return on investment. Besides, issues related to protecting products from contamination and producing primary packaging components compatible with chemical components are increasing challenges for companies operating in the pharmaceutical blister packaging market. Owing to such challenges, pharmaceutical blister packaging manufacturers will need to find new ways to improve productivity while managing production costs. As such, companies are leveraging knowledge store, cloud-based subscription services to gain unlimited access to extensive and comprehensive collections of industry-specific market research.
Business Challenges Faced
Our client, a pharmaceutical blister packaging manufacturer, based out of Luxembourg, faced difficulties in protecting the drugs from contamination. Also, as many of the elements in the drugs were highly sensitive to certain ingredients, the client faced challenges in producing primary packaging components compatible with the chemical components forming the drugs. As a result, the client encountered a huge decline in its sales rate and started losing valuable customers to its competitors. Also, many of their clients hesitated to renew contacts with them. The pharmaceutical blister packaging manufacturer, therefore, wanted to combat the onslaught of counterfeiting that has swamped the pharmaceutical blister packaging market. Also, the client wanted to innovate to avoid falling behind the competition. In addition to this, as consumers were becoming more conscious about the quality of pharmaceutical products and their visual appearance, the client wanted to focus on ensuring quality packaging as well. Besides, they wanted to expand their business operations across other related segments in the pharmaceutical packaging industry. They approached the experts at Infiniti Research to leverage their expertise in offering cloud-based subscription services, providing on-demand access to thousands of research studies on new and emerging markets.
Our Integrated Approach
The market research experts at Infiniti Research recommended the client to subscribe to their knowledge store, where they could gain insights into more than 1000 high-growth, niche markets across all verticals in the pharmaceutical packaging industry. The experts also provided the client with unlimited access to their large team of analysts who track high-growth niche markets worldwide. Besides, the experts provided the client with deeper insights around specific technologies and regions, analyzing specific players in the pharmaceutical blister packaging market. By conducting competitive intelligence study, the experts provided the pharmaceutical blister packaging client with the profiles and pipeline of players currently developing blister packs for pharmaceutical companies.
The experts also helped the client to understand their customers’ unmet needs related to pharmaceutical blister packs. We also developed key performance indicators (KPIs) to enable understanding of the focus areas. All the obtained information was evaluated on the KPIs, to generate recommendations for the client to re-align its business strategies for competitive advantage. Besides, validation of gathered data through an additional set of open-ended discussions with industry experts to ensure accuracy was done.
Results Obtained
By subscribing to Infiniti’s knowledge store, the client was able to gain unlimited access to a collection of industry-specific market research. Also, the client was able to take advantage of emerging opportunities and get ahead in the hyper-competitive pharmaceutical blister packaging market. Besides, the client was able to keep track of ever-changing technology landscape and formulate new innovative packaging designs relevant to customers’ requirements.
By subscribing to Infiniti’s knowledge store, the pharmaceutical blister packaging market client was able to easily communicate with industry analysts for data updates and customized research information. Besides, the client got access to data forecast system and was able to explore new opportunities to combat stagnating revenues.
By thoroughly analyzing competitors’ packaging strategies and initiatives, the client was able to focus on developing primary packaging components compatible with the chemical components forming the drugs. This helped the client to sign new deals with leading pharmaceutical companies in Luxembourg.
By focusing on the quality of pharmaceutical products and their visual appearance, the pharmaceutical blister packaging market client was able to acquire new customers and drive sales. The subscriber knowledge store also provided the client with insights into all the related segments in the pharmaceutical industry. This helped the client to identify profitable pharmaceutical market segments for business expansion.
Within one year of leveraging our market research services, the pharmaceutical blister packaging market client was able to drive sales and increase profits by 23%.
