Global Pharmaceutical Cartridges Market, by Material Type (Glass (Type 1, Type 2, and Type 3) and Plastic (Polypropylene (PP), Cyclic Olefin Copolymer (COC), Cyclic Olefin Polymer (COP), Polyethylene)) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
The global pharmaceutical cartridges market in 2020 is estimated for more than US$ 1.2 Bn and expected to reach a value of US$ 1.7 Bn by 2028 with a significant CAGR of 4.1%.
Apart from the growing cases of patients suffering from chronic conditions, the reliability of pharmaceutical cartridges also accounts for market growth. This advanced version of pharmaceutical cartridges is far better than the rational ones, owing to better chemical durability, accurate drug delivery, and better damage resistance.
Moreover, the availability of these precise and target-based pharmaceutical drugs with quality packing is also propelling the demand for such cartridges, accounting for the safer drug that is free from contamination. As the traditional prefilled syringes were more prone to meet with accidents during the tampering of needle sticks. These cartridges are also gaining popularity as they offer the best packaging for temperature-sensitive drugs.
However, market growth can be restricted due to the consumer’s shift towards the availability of substitutes. On the contrary, the strategic collaborations between the key players to complete the market demands are also positively impacting the market growth. For instance, the teaming of Merck and Pfizer for the development of a solution that is used along with the injectable drugs in cartridges and vials.
Furthermore, Meridian Market Consultants (MMC) Study identifies that the glass-based pharmaceutical cartridges are dominating this market, accounting for the inert nature of glass that keeps the solution safe within the container.
Furthermore, the changing packaging pattern from glass to plastics pharmaceutical cartridges serves to be the major growth driving trend for the market. Glass-based pharmaceutical cartridges require better and safe handling and shipping as compared to plastic-based pharmaceutical cartridges, due to the brittle nature of glass. Still, the existing and growing requirement for safer packing of pharmaceutical drugs offers lucrative growth opportunities for the pharmaceutical cartridges market.
However, the diversion of consumer’s attention and the adoption of Ayurveda and homeopathy drugs hamper the market growth, owing to its nil or zero side-effects nature.
MMC Study identifies some of the key participating players in the pharmaceutical cartridges market globally are Baxter International, Inc., Gerresheimer AG, Maquinaria Industrial Dara, Sl., Merck Group, Pierrel Group, Schott AG, SGD Pharma, Sigma-Aldrich Corp., Stevanto Group, Transcoject GmbH, and West Pharmaceutical Services, Inc.
About Meridian Market Consultants:
Meridian Market Consultants (MMC) is committed to provide deep insights that serve as creative tool for the client that enables it to perform confidently in the market. At MMC we adhere to the client needs and regularly ponder to bring out more valuable and real outcomes for our customers. We are equipped with strategically enhanced group of researchers and analysts that redefines and stabilizes the business polarity in different categorical dimensions of the market.