Pharmaceutical Glass Ampoule Market to Clock 7.5% CAGR during 2019-2027; Widespread Application in Packaging Injectable Drugs Key to Growth - Transparency Market Research
The pharmaceutical glass ampoules market has been generating opportunities from their extensive use in packaging applications in numerous industries. Characteristics of glass ampoules to maintain the integrity of contained liquid has spurred interest of cosmetics industry
Several players are leaning on strengthening their production by adopting high-speed filling lines
ALBANY, New York, March 4, 2020 /PRNewswire/ -- Extensive and consistent demand for glass ampoules among pharmaceutical and chemical laboratories as a reliable packaging solutions for variety of drug formulations and sterile solutions is key to evolution of the pharmaceutical glass ampoules market. The demand for customized glass ampoules in several other end-use industries, notably including chemical, retail, and cosmetics industries continues to bolster revenue potential.
The aforementioned factors, coupled with numerous other application trends, will help the global pharmaceutical glass ampoules market to reach worth ~US$ 4 bn by 2027 end. During the period 2019 – 2027, the global market is expected to clock a CAGR of 7.5%.
"Future growth revenues will come from demand for pharmaceutical glass ampoules in Latin America, Asia Pacific, and Eastern Europe," notes the authors of the study. "The packaging is rapidly emerging as a promising alternative for plastic ampoules, given the mounting environmental concerns with plastics," concede the analysts.
Key Findings of Market Study
Among the various product types, straight stem and open funnel glass ampoules are expected to garner higher demand than others. The latter segment held a share of ~31% in 2019 in the pharmaceutical glass ampoule market.
In 2018, straight stem product segment held a global share of ~33%, in relation to volume; by 2027-end the share is estimated to reach ~36% of the pharmaceutical glass ampoule market.
Among the various applications in the pharmaceutical glass ampoules, cosmetic industry is expected to increasingly contribute to the global revenues. Increasing inclination of cosmetic brands in Asia Pacific to use the packaging for serums will be the key catalyst for growth in the segment.
Demand for glass ampoules featuring up to 2ml is expected to rise substantially over the assessment period. This can be attributed to the popularity of small-sized glass ampoules in packaging applications.
Explore 205 pages of top-notch research, incisive insights, and detailed country-level projections. Gain business intelligence on Pharmaceutical Glass Ampoules Market (Product: Straight Stem, Open Funnel, Closed Funnel, and Others; and Capacity: Up to 2ml, 3ml to 5ml, 6ml to 8ml, and Above 8ml) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027 at https://www.transparencymarketresearch.com/pharmaceutical-glass-ampoules-market.html
Numerous end-use industries continue to utilize the marked dimensional accuracy of glass to ensure a contaminant-free and safe packaging. Unique characteristics of glass make it suitable as a primary range of applications such as pharmaceuticals, diagnostics, first aid, cosmetics, spa items, dental, and toiletries. Pharmaceutical glass ampoules are also used for storing hygroscopic materials and air-sensitive reagents.
Growing inclination to reduce the plastic waste generated from the cosmetics industry has led companies to adopt safer and cost-effective packaging materials. Thus, glass ampoules have gathered widespread preference over conventional glass bottles among the end users and the industry players.
Counterfeiting of pharmaceutical products is a significant concern among drug makers. According to an estimate, counterfeiting affects nearly 17% of the total turnovers of branded companies. This is a key trend bolstering demands in the pharmaceutical glass ampoules market.
Key Impediments for Pharmaceutical Glass Ampoules Market Players
Despite glass being a safer material than most conventional materials, there is a pressing need for improving the safety characteristics of glass ampoules, motivating them to relentlessly search for better packaging options. In this light, increasing adoption of prefilled syringes and glass vials is hampering revenues in pharmaceutical glass ampoules market.
The major five regions in the pharmaceutical glass ampoules market are China, the U.S., Germany, the U.K., and India. Of these, the U.S. accounted for a large share in the global market in 2018. Of all the key country markets, the U.S. is estimated to hold the leading revenue share by the end of the forecast period. Asia Pacific is expected to be the market for substantial revenues streams for players in coming years.
Analyze pharmaceutical glass ampoules market growth in 30+ countries including US, Canada, Germany, United Kingdom, ASEAN Countries, Japan, India, China, and Japan. Request a sample of the study.
Most players in the pharmaceutical glass ampoules market are leaning on improving the quality of products and strengthen their production volumes. Numerous players are investing sizably to strengthen their production capacities in new geographies. An example is SCHOTT AG investing millions in India to bolster their production capacity. Leading players are expected to keep investing in capacity expansion in coming years as well.
Some of the well-entrenched players in the pharmaceutical glass ampoules market are Klasspack Pvt. Ltd., Tvornica Farmaceutske Ambalaže D.O.O., Lutz Packaging GmbH, Crestani S.R.L., Birgi Mefar Group, and SGD S.A.
The pharmaceutical glass ampoules market is segmented on the basis of:
Pharmaceutical Glass Ampoules Market, by Product
Pharmaceutical Glass Ampoules Market, by Capacity
Up to 2ml
3ml to 5ml
6ml to 8ml
Pharmaceutical Glass Ampoules Market, byRegion
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