Ampoules and Syringes Market is expected to surpass US$12.4 bn by the end of 2024; Plastic ampoules, classified into PVC, polyethylene, polypropylene, are also gaining significant momentum across the world
Albany, NY -- (SBWIRE) -- 09/06/2017 -- Global Ampoule and Syringes Market: Snapshot
The worldwide ampoules and syringes market is witnessing a substantial rise in its valuation. Analysts expect the scenario to remain positive over the forthcoming years, thanks to the continual advancements in the biologics and biosimilars industry, influencing the demand for ampoules and prefilled syringes. The patent expiry of a number of biologics has led to the introduction of biosimilars in the global market, which is the main factor behind the significant growth of the market for ampoules and syringes across the world.
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On the other hand, the high cost of the temperature-controlled packaging needed for temperature-sensitive drugs and the increasing product recalls due to breakages and leachables may limit the market's progress to some extent in the near future.
In 2015, the global market for ampoules and syringes stood at US$5.1 bn. Progressing at an impressive CAGR of 10.50% between 2016 and 2024, the opportunity in this market is expected to surpass US$12.4 bn by the end of 2024.
Glass Ampoules and Glass Syringes to Continue to Enjoy High Demand
The global market for ampoule and syringes is broadly analyzed on the basis of the type of ampoule product and the type of syringes. Glass ampoules, plastic ampoules, cyclic olefin polymers, and cyclic olefin copolymers are the key ampoule products found in this market. With a share of nearly 84%, the glass ampoules segment led the overall demand for ampoules in 2015. Thanks to the heat-resistant feature of glass ampoules, their demand is likely to remain high over the forthcoming years.
Plastic ampoules, classified into PVC, polyethylene, polypropylene, are also gaining significant momentum across the world. The demand for polyethylene ampoules is much higher than other plastic ampoules, currently, which is expected to witness impressive growth opportunities compared to PVC and polypropylene ampoules in the near future.
Glass syringes and polymers syringes are the two main types of syringes available in this market. Among these, the demand for glass syringes is greater than polymer syringes and the situation is anticipated to continue to be same over the next few years.
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EMEA to Retain its Position as Leader in Ampoule & Syringes Market
The global ampoule and syringes market is spread across Europe, the Middle East, and Africa (EMEA), Asia Pacific (APAC), Countries under the North American Free Trade Agreement (NAFTA), namely, the U.S., Canada, and Mexico, and the Rest of the World. Of these, EMEA has acquired the leading position in this market and is expected to retain it over the years to come, thanks to the early adoption and the rising awareness in the region. Europe is the key contributor to the EMEA market for ampoule and syringes. The NAFTA market is also projected to grow steadily in the near future, thanks to the presence of leading pharmaceutical companies in this region.
Some of the key players functioning in the global market for ampoule and syringes are Schott AG, Becton, Dickinson and Co., Gerresheimer AG, West Pharmaceutical Services Inc., Vetter Pharma International GmbH, Nipro Corp., Stevanato Group, JSR Corp., TOPAS Advanced Polymers, Baxter International Inc., B. Braun Melsungen AG, Terumo Corp., Unilife Corp., Medtronic, Ypsomed Holding AG, and Zeon Corp.