3-June-2019: The global pharmaceutical cartridges market size
is expected to reach USD 1.83 billion by 2026, according to a new report by
Grand View Research, Inc. The market is estimated to expand at a CAGR of 7.8%
during the forecast period. Rising awareness regarding the benefits of using
pharmaceutical cartridges in the packaging industry is propelling the market
demand. These benefits include on-time, accurate, and safe drug delivery,
break-resistance packaging, and low residual volumes of drugs. Increasing prevalence
of chronic diseases, such as arthritis, diabetes, and oral conditions, and high
demand for long-term storage of drugs are also anticipated to contribute toward
market growth.
For instance, as per the
National Diabetes Statistics Report published in 2017, American Indians were
reported with the highest prevalence of diabetes for both females (15.3%) and
males (14.9%). Insulin therapy plays an important role in the treatment of
diabetes. Thus, growing cases of diabetes may augment the demand for insulin therapy.
Previously, traditional packaging, such as blister packs and bottles, were used
for insulin delivery. However, owing to several advantages, pharmaceutical
cartridges are being preferred, which, in turn, is supporting market
development.
In addition, various
initiatives taken by prominent companies in the industry are also expected to
augment the pharmaceutical cartridges market demand. For example, the chairman
and CEO of Merck, stated in an article that the company is planning to convert
its injectable products to the new glass packaging solution, once it receives
the approval. Furthermore, in 2015, Schott AG started a center of excellence at
its U.S. production facility for developing chemically-strengthened glass
cartridges.
In depth research report on Pharmaceutical
Cartridges Market
Further
key findings from the study suggest:
· In
terms of revenue, the glass cartridges segment is projected to expand at the
fastest CAGR over the forecast period
· Increasing
prevalence of chronic diseases across the globe and advantages offered by glass
cartridges over the conventional ones are projected to drive the segment growth
· North
America led the market in the past accounting for the largest share due to
increased cases of diabetes and other chronic diseases among all age groups
· Some of
the key companies in the pharmaceutical cartridges market are Gerresheimer AG;
SCHOTT AG; West Pharmaceutical Services, Inc.; Merck KGaA; Stevanto Group;
Transcoject GmbH; and Baxter International, Inc.
Grand View Research has
segmented the global pharmaceutical cartridges market on the basis of material
type and region:
Pharmaceutical
Cartridges Material Type Outlook (Revenue, USD Million, 2014 - 2026)
· Glass
· Type 1
· Type 2
· Type 3
· Plastic
· Polypropylene
(PP)
· Cyclic
Olefin Copolymer (COC)
· Cyclic
Olefin Polymer (COP)
· Polyethylene
(PE)
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About
Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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