In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.
Request InsightsPurchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively. Request Insights
IN THE NEWSThe 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
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.
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:
Our in-depth analysis of the pharmaceutical glass ampoules market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Rapid growth of pharmaceutical industry and growing preference for injection based treatment globally are the major market growth drivers.
The market is anticipated to attain a significant CAGR over the forecast period, i.e., 2021 – 2029.
Concerns regarding glass delamination while packaging drugs estimated to hamper the market growth.
Asia Pacific is expected to offer more growth opportunities to the market on the back of growing prevalence of chronic diseases and increasing disposable income.
The major players in the market are SCHOTT AG, PIRAMIDA d.o.o., Gerresheimer AG, NIPRO Corporation, Stevanato Group, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, capacity, drug type, and by region.
The generic segment is anticipated to hold largest market size in value and is estimated to grow at a notable CAGR over the forecast period and display significant growth opportunities.
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