New York, USA, May 11, 2023 (GLOBE NEWSWIRE) -- Pharmaceutical Cartridges Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Pharmaceutical Cartridges Market Information By Material, By Capacity, And By Region –Market Forecast Till 2032, the market size is projected to grow from USD 1.55 Billion in 2023 to USD 2.06 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.60% during the forecast period (2023 - 2032).
Market Scope:
Growth in customer preference for proper packaging, increased need for safe pharmaceutical packaging for medications, and supportive government initiatives are the key market drivers enhancing the market growth. In the past, prefilled syringes were the most popular and favored choice among healthcare workers. However, users would commonly get needle stick injuries. As a result, packaging needs to be safe and simple to use. There is little risk of harm because cartridges lack needles.
medicinal cartridges are also ideal for temperature-sensitive medicinal products because of their preservation qualities. Pharmaceutical cartridges provide users a safer alternative to cartridge pharmaceutical packaging. Consequently, it is projected that the requirement for efficient compliance packaging would lead to market opportunities for pharmaceutical cartridges.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2032 | USD 2.06 billion |
| CAGR | 3.60% |
| Base Year | 2022 |
| Forecast Period | 2023-2032 |
| Historical Data | 2021 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Material and Capacity |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Growth in customer preference for proper packaging |
| Increased need for safe pharmaceutical packaging for medications |
Pharmaceutical Cartridges Market Competitive Outlook:
Key Companies in the Pharmaceutical Cartridges market include
- Ambica Pharma Machines Pvt. Ltd.
- AptarGroup Inc.
- Baxter International Inc.
- Camfil AB
- Datwyler Holding Inc.
- Gerresheimer AG
- groninger and Co. gmbh
- Hubena
- Kalbag Filters Pvt. Ltd.
- KEL INDIA FILTERS
- Maquinaria Industrial Dara SL
- Merck KGaA
- Nipro Corp.
- SCHOTT AG
- SGD S.A.
Pharmaceutical Cartridges Market Trends:
Market Drivers
The primary market factors boosting market growth include an increase in customer desire for adequate packaging, an increase in the necessity for safe pharmaceutical packaging for drugs, and supporting government activities. When oral drug administration is difficult or intravenous delivery is the sole option, patients are given parenteral medicines. Parenteral medications are required for the treatment of chronic illnesses such cancer, diabetes, renal failure, hepatic failure, and chronic intestinal problems. The need for parenteral medications is rising as the incidence of chronic illnesses rises internationally. The need for parenteral packing is increasing as a result, which is enhancing the prospects for the pharmaceutical cartridge market. Non-communicable diseases (NCDs), often known as chronic diseases, arise gradually over time as a result of several environmental, genetic, and behavioral variables. The treatment for NCDs includes palliative care in addition to NCD detection, screening, and therapy. As a result, the market revenue for pharmaceutical cartridges is being driven by this expanding prevalence.
Market Limitations
The world economy is at a crucial turning point as a number of interconnected problems and crises develop concurrently. The issue on the inflation front is not yet gone due to the uncertainty about how Russia's conflict on Ukraine will play out this year and the war's role in causing global instability. Inflation of food and gasoline will continue to be a significant economic issue. Consumer confidence and spending will be impacted by higher retail inflation. Governments' efforts to control inflation by raising interest rates will limit the creation of new jobs, which will have an effect on economic activity and growth.
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COVID-19 Analysis:
This year, there is a genuine chance that the globe will experience more severe supply chain suffering and manufacturing interruptions because to worries about additional COVID outbreaks and China's already hazy post-pandemic future. The complexity of the difficulties will increase as a result of volatile financial markets, rising trade tensions, tougher regulatory environments, and demand to integrate climate change into economic choices. However, organizations and their leaders that can forge a future with resiliency and adaptation will always have opportunities.
Pharmaceutical Cartridges Market Segmentation:
Material Insights
With a market share of between 55% and 60% and a total value of $78.58 billion, the Glass segment dominated the industry. Due to the product's exceptional quality and damage resistance, demand has soared. Glass cartridges' precise dimensional tolerances, resistance to thermal stress, dependability of integration with injection machines, and modest aesthetic tolerances are also expected to fuel demand.
Capacity Insights
The category with the highest revenue was 5-50 ml (70.4%). Use a 5 ml-50 ml glass pharmaceutical cartridge to safely and precisely measure and deliver liquid medications and other liquids. The cartridge helps to protect the liquid from contamination and ensure that the right amount of medication is administered, as well as safe storage. This type of cartridge is widely used in places like hospitals and pharmacies where accuracy and safety are essential. A cost-effective solution for many pharmaceutical and medical uses, the glass cartridge is typically reusable.
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Pharmaceutical Cartridges Market Regional Insights:
This market will be dominated by the Asia-Pacific Pharmaceutical Cartridges market region. Around 60% of the market for prescription drug cartridges in the Asia Pacific area is accounted for by emerging nations like China and India. The market in the Asia Pacific is growing as a result of the region's escalating need for pharmaceutical goods and the influx of several local and foreign pharmaceutical companies. The demand for pharmaceutical cartridges in the region is also fueled by a rise in healthcare awareness. Additionally, the Indian market of Pharmaceutical Cartridges had the Asia-Pacific region's quickest rate of growth and China's market of Pharmaceutical Cartridges had the greatest market share.
The second-largest market share for pharmaceutical cartridges is held by Europe. Due to its advantages, such as long-term storage and exact dosage, pharmaceutical cartridges are widely employed to administer insulin. Additionally, the growth of the region will benefit from the increasing attention firms in Europe give to the production of glass cartridges due to their expanding usage in pharmaceutical packaging. Additionally, the UK market of Pharmaceutical Cartridges grew the quickest in the European area, while the German market of Pharmaceutical Cartridges had the greatest market share.
The pharmaceutical cartridges market in North America is anticipated to expand at the quickest CAGR between 2023 and 2032. The demand for pharmaceutical cartridges in North American countries is driven by a growth in the incidence of chronic diseases including diabetes and rheumatoid arthritis. The rise of the regional market is also aided by the established healthcare and pharmaceutical industries, as well as by the high expenditure in countries like the United States and Canada. Popular biotechnology and biopharma companies are also increasing market demand.
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