Wilmington, Delaware, United States, Nov. 08, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global pharmaceutical cartridges market is projected to flourish at a CAGR of 3.3% from 2022 to 2026. As per the report published by TMR, a valuation of US$ 1.5 billion is anticipated for the market in 2026. As of 2023, the demand for pharmaceutical cartridges is expected to close at US$ 1.4 billion.
The pharmaceutical industry is continually growing due to factors like an aging population, the prevalence of chronic diseases, and increasing healthcare expenditures. This growth leads to an increased demand for drug packaging solutions, including pharmaceutical cartridges.
The development and commercialization of biologics and biosimilars have increased the demand for specialized drug delivery systems. Cartridges are often used for the packaging of biologic drugs, as they provide accurate dosing and protect the product's stability. Ongoing advancements in drug delivery technologies, such as auto-injectors, pen injectors, and wearable devices, are boosting the demand for pharmaceutical cartridges. These devices often rely on cartridges to deliver precise dosages of medications.
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The demand for generic pharmaceuticals continues to rise manufacturers are seeking cost-effective and efficient packaging solutions like pharmaceutical cartridges to package their products. The focus on parental drug administration has prompted innovation in the field of pharmaceutical cartridges. Thus, the pharmaceutical cartridges market growth forecast appears promising owing to the increase in demand for parental diabetic drug packaging solutions.
Competitive Landscape
The pharmaceutical cartridges market competition analysis includes the company profiles section, which comprises key information about major players in the global pharmaceutical cartridges market. Leading players analyzed in the report are Gerresheimer AG, Schott AG, Nipro Corporation, West Pharmaceutical Services, Inc., SGD Pharma, Baxter Healthcare Corporation, Sigma-Aldrich Corporation, Stevanato Group, Pierrel Group, and Transcoject GmbH.
Key Takeaways from the Market Study
- As of 2022, the pharmaceutical cartridges market was valued at US$ 1.34 billion.
- Based on material type, type 1 glass segment is expected to dominate the global market during the forecast period.
- By capacity, below 5 ml segment to account for high revenue in the market.
Pharmaceutical Cartridges Market: Key Trends and Opportunistic Frontiers
- The development of innovative drug formulations, such as high-concentration and high-viscosity drugs, often requires specialized packaging solutions like cartridges to ensure precise dosing and product stability.
- Rise in disposable income of the people in developing countries is creating lucrative opportunities for dual chamber cartridges manufacturers.
- Growing middle-class population with increased access to healthcare, driving demand for pharmaceutical products and their packaging.
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Pharmaceutical Cartridges Market – Regional Analysis
- Asia Pacific is a constantly growing market for pharmaceutical cartridges. The consistent growth of the market in the region can be ascribed to the lower cost of pharmaceutical cartridges offered by manufacturers in the Asia Pacific than that in other regions.
- The rapid expansion of the healthcare sector and pharmaceutical industry in China boosts demand. Growth in awareness about health care is also driving the demand for pharmaceutical cartridges in the region. The rise in government initiatives is propelling the demand for pharmaceutical cartridges Asia Pacific.
- North America is expected to dominate the pharmaceutical cartridges market during the forecast period. Significant pharmaceutical industry and healthcare sector, driving the demand for pharmaceutical cartridges in North America. It is a hub for innovation in drug delivery systems, contributing to the market's growth.
Key Developments in the Pharmaceutical Cartridges Market
- Gerresheimer AG is a global company specializing in pharmaceutical packaging and drug delivery systems. They offer a wide range of pharmaceutical cartridges, including sterile pre-fillable syringes and glass cartridges.
- West Pharmaceutical Services, Inc.: West is a leading manufacturer of packaging components and drug delivery systems for the pharmaceutical, biotechnology, and medical device industries. They provide a variety of products, including vials, syringes, and cartridges.
- Schott AG is a renowned manufacturer of specialty glass and glass-ceramics, and they are a key player in the pharmaceutical cartridges market. They produce high-quality glass cartridges used in the pharmaceutical and biotech sectors.
- SGD Pharma is a leading manufacturer of glass packaging solutions, including pharmaceutical cartridges. They offer a broad portfolio of glass containers designed for pharmaceutical applications.
Pharmaceutical Cartridges Market – Key Segments
Material Type
- Glass
- Type 1
- Type 2
- Type 3
- Plastics
- Cyclo Olefin Polymer (COP)
- Cyclic Olefin Copolymer (COC)
- Polyethylene (PE)
- Polypropylene (PP)
Capacity Type
- Below 5 ml
- 5-50 ml
- 51-250 ml
- Above 250 ml
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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