Pharmaceutical Cartridges Market to be Valued at US$ 1.5 Billion by 2026, TMR Study
30 Aug 2022
Rising adoption of parenteral drug administration, for high statistics of fatalities associated with non-communicable diseases spurs innovation in pharmaceutical cartridges
Preference for pharmaceutical cartridges due to their user-friendliness, safe to use, and preservative qualities for temperature-sensitive pharmaceutical products stirs growth
WILMINGTON, Del., Aug. 30, 2022 /PRNewswire/ -- A granular pharmaceutical cartridges market analysis discovers that rising need for parenteral drug administration for the treatment of chronic diseases such as cancer and diabetes stokes demand for parenteral packaging. High statistics of fatalities of non-communicable diseases is fueling the demand for parenteral drug administration. This is prompting innovation in pharmaceutical cartridges, thereby boosting the pharmaceutical cartridges market. The pharmaceutical cartridges market is estimated to rise at a CAGR of 3.3% during the forecast period from 2022 to 2026.
Design and material qualities of pharmaceutical cartridges which makes them a safer alternative over pharmaceutical packaging to influence pharmaceutical cartridges market size in the future. The prolonged ravage of COVID-19 led to development of various drugs to contain the spread of the virus. This involved expansion of production facilities, along with packaging innovations undertaken by top pharmaceutical cartridges companies, to serve the swelling demand for pharmaceutical products.
Consistent rise in demand for pharmaceutical cartridges is attracting pharmaceutical packaging companies to engage in cartridges product innovation. Customized solutions and improvement in filling efficiency are also the focus of leading pharmaceutical cartridge manufacturers.
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Pharmaceutical Cartridges Market – Key Findings of the Report
Range of superior features, including user-friendliness, safe, and free of needles that eliminates risk of damage demonstrates uptake of pharmaceutical cartridges over prefilled syringes. Pharmaceutical cartridges feature preservative qualities, to provide favorable temperature for sensitivity of pharmaceutical products.
Product innovation for multi-compartment pharmaceutical packaging products to create new revenue streams in the pharmaceutical cartridges market. For instance, dual chamber cartridges allow different drugs to be stored in single units, for a longer period of time without contamination, and thus increase their shelf life.
Restriction on import of pharmaceutical products in African countries accounts for key role of governments to assist international pharmaceutical companies set up production facilities in the region. This has led to the swelling demand for pharmaceutical packaging products, including pharmaceutical cartridges.
Rise in demand for economical and value-based packaging solutions ascribes preference of pharmaceutical packaging manufacturers for plastic over glass for the packaging of drugs. Key players in the pharmaceutical cartridges market are collaborating to meet the demand for polymers such as cyclic olefin polymers and cyclic olefin copolymers that are preferred by parenteral drug producers and packaging solution providers.
Asia Pacific pharmaceutical cartridges market is projected to register the leading 5.6% CAGR during the forecast period. Low cost of pharmaceutical cartridges, accounting for high demand from small-scale industries presents enormous opportunities for pharmaceutical cartridges market in the region.
China and India constitute nearly 60% pharmaceutical cartridges market share in Asia Pacific. Substantial rise in awareness about healthcare, leading to demand for pharmaceutical products is fueling the pharmaceutical cartridges market in the region.
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Pharmaceutical Cartridges Market – Growth Drivers
Rise in demand for safe pharmaceutical packaging for drugs, increase in consumer preference for accurate dosage, and product innovation are fueling the growth of pharmaceutical cartridges market
Rapid adoption of parenteral drug administration for the increasing incidence of chronic diseases, stoking demand for parenteral packaging creates opportunities in pharmaceutical cartridges market
Pharmaceutical Cartridges Market – Key Players
Some of the key players operating in the pharmaceutical cartridges market are;
Perrel Group
Transcojet GmbH
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The pharmaceutical cartridges market is segmented as follows;
Pharmaceutical Cartridges Market, by Material Type
Glass
Type 2
Type 3
Plastics
Cyclo olefin Polymer
Cyclic Olefin Copolymer
Polyethylene
Polypropylene
Pharmaceutical Cartridges Market, by Capacity Type
Below 5 ml
5-50 ml
51-250 ml
Above 250 ml
Pharmaceutical Cartridges Market, by Region
North America
Latin America
Europe
Middle East & Africa
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