Pharmaceutical Glass Ampoules Market Highlights 2020 – 2029
The pharmaceutical glass ampoules market is estimated to garner a hefty amount of revenue by growing at a significant CAGR over the forecast period, i.e., 2021 – 2029. The growth of the market can be attributed to the rapid growth of pharmaceutical industry around the globe, stringent government regulations to improve the quality of manufactured drugs, and the rising preference for injection based treatments, such as that of diabetes. Apart from these, the emergence of glass as a cost-effective, safe and efficient packaging solution is also expected to drive market growth in the near future. Furthermore, growing demand for COVID-19 vaccination across the world is evaluated to offer ample opportunities to the market in 2021 and the following years. For instance, till date India has witnessed the largest demand for COVID-19 vaccines in the world. The country has secured more than 2 billion vaccine doses in total.
The market is segmented by type into open funnel, closed funnel, straight stem, and others, out of which, the straight stem segment is anticipated to hold the largest share in the pharmaceutical glass ampoules market on account of deployment of advanced technologies among drug packaging manufacturers and growing emphasis on improving product quality. In addition, on the basis of drug type, the segment for generic drugs is projected to grab the largest market share owing to the increasing geriatric population, growing number of incidences of chronic diseases and escalating expiration of drug patents. Moreover, the biologic segment is assessed to grow with the highest growth rate over the forecast period on the ability of biologics to effectively treat several types of autoimmune diseases and cancer, and rising usage of glass packaging for these drugs. CLICK TO DOWNLOAD SAMPLE REPORT
Major Macro-Economic Indicators Impacting the Market Growth
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Global Pharmaceutical Glass Ampoules Market Regional Synopsis
On the basis of geographical analysis, the pharmaceutical glass ampoules market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. The market in the North America region is estimated to account for the largest share over the forecast period on the back of increasing demand for glass ampoules and the rising spending of the pharmaceutical industry in the region. Additionally, Europe is expected to be the second largest shareholder in the market in the coming years, which can be credited to the growing R&D activities in the medical sector and presence of strong market players in the region. However, the market in Asia Pacific is evaluated to grow with the highest CAGR during the forecast period ascribing to the increasing health consciousness amongst people, growing disposable income, and rise in the prevalence of chronic disorders in the region. In India, more than 2 million people suffered from cancer in 2018. Out of these, approximately 785,000 people succumbed to the disease in that year.
The pharmaceutical glass ampoules market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Market Segmentation
Our in-depth analysis of the pharmaceutical glass ampoules market includes the following segments:
By Type
- Open Funnel
- Closed Funnel
- Straight Stem
- Others
By Capacity
- Up to 2ml
- 3-5 ml
- 6-8 ml
- More than 8 ml
By Drug Type
- Branded
- Generic
- Biologic
Growth Drivers
- Rapid Growth of Pharmaceutical Industry Worldwide
- Growing Preference for Injection Based Treatment Globally
Challenges
- Concerns Regarding Glass Delamination while Packaging Drugs
Top Featured Companies Dominating the Market
- Corning Incorporated
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- SCHOTT AG
- PIRAMIDA d.o.o.
- Gerresheimer AG
- NIPRO Corporation
- Stevanato Group
- SGD S.A.
- Shandong Medicinal Glass Co., Ltd.
- Ardagh Group S.A.
