Surge in Number of Private Pharmaceutical and Chemical Laboratories to Influence Market Growth
The pharmaceutical packaging space has evolved at a considerable pace over the past couple of decades due to factors such as changing regulatory framework and evolving industry trends. At present, the increasing consumer demand for defect-free medicine has compelled players involved in the current ampoule filled pharmaceutical products to minimize errors and improve the quality of their product range. In the current scenario, ampoule filled pharmaceutical products are increasingly being developed across chemical and pharmaceutical laboratories around the world. The increasing need to prevent contamination and mix of medicines has influenced the growth of the global ampoule filled pharmaceutical products market in recent years.
The growing emphasis on improving the shelf life of ampoule filled pharmaceutical products is projected to play an imperative role in the overall development of the global ampoule filled pharmaceutical products market during the forecast period. Research and development activities have accelerated the development and production of various types of drugs, including anti-cancer drugs, anti-diabetes drugs, vaccines, and cardiovascular drugs due to which, the growth of the market for ampoule filled pharmaceutical products is anticipated during the assessment period. Furthermore, the increasing demand for generic as well as branded drugs is another factor that is set to have a positive impact on the global ampoule filled pharmaceutical products market.
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New Product Development Strategies to Aid Market Growth
Due to the evolving pharmaceutical sector, a number of pharmaceutical products is being developed to cater to the rapidly changing consumer landscape. Players engaged in the development of pharmaceutical drugs and medication are increasingly focusing on new product development strategies (NDP) to address looming challenges in drug development, including long-development time, high capital investment, and market uncertainty. The increasing focus on the development of generic and bio-generic products is likely to provide an impetus to the growth of the global ampoule filled pharmaceutical products market during the assessment period.
The Asia Pacific region is anticipated to provide abundant opportunities to the players involved in the current ampoule filled pharmaceutical products market landscape, owing to increasing focus on improving healthcare infrastructure and ecosystem by governments. The significant rise in private sector investments across the pharmaceutical sector in the Asia Pacific region is projected to play an imperative role in the development of the global ampoule filled pharmaceutical products market during the assessment period.
Emergence of New Technologies and Launch of New Products to Boost Market Growth
The emergence of new production and manufacturing technologies have accelerated the development of ampoule filled pharmaceutical products in recent years. The noteworthy rise in the prevalence of chronic diseases, including rheumatoid arthritis, cancer, and diabetes coupled with the surge in the interest for point-of-care devices is anticipated to have a strong impact on the expansion of the global ampoule filled pharmaceutical products market in the upcoming years.
Several companies are increasing their investments in the pharmaceutical packaging space– a factor that is set to augment the demand for ampoule filled pharmaceutical products due to their quality, safety, and effectiveness. For instance, in April 2019, Schott announced that the company would invest ~US$ 1 Bn to increase its pharmaceutical packaging capacity to cater to the increasing demand for packaging such as ampoules, syringes, vials, etc. Similar investments from private sector companies are likely to set the tone for development across the global ampoule filled pharmaceutical products market.
Development of COVID-19 Drugs and Vaccines to Propel Demand
The outbreak of the COVID-19 pandemic is set to have a strong impact on the growth of the global ampoule filled pharmaceutical products market, particularly in the first half of 2024. Researchers and scientists around the world are increasingly focusing on the development of new drugs, while simultaneously repurposing existing drugs to prevent the spread of the novel coronavirus. A number of international organizations, including the World Health Organization, in co-ordination with the European Medicines Agency (MEA), U.S. Food and Drug Administration (FDA), and other regulatory bodies is consistently assisting industry and academic researchers to accelerate the development of anti-viral drugs, vaccines, and post-infection therapies– a factor that is expected to fuel the growth of the ampoule filled pharmaceutical products market during the forecast period.
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Ampoules Filled Pharmaceutical Products Market: Overview
- According to Transparency Market Research’s latest report on the global ampoule filled pharmaceutical products market for the forecast period of 2024-2030, the market is estimated to be driven by growing demand for sterile injectable drugs coupled with rising spending on research and development in the pharma sector
- The global ampoule filled pharmaceutical products market is expected expand by ~2.1 times of current market value with a CAGR of 6.9% during forecast period
Rising Demand for Unit Dose Packed Pharmaceutical Products Supplements the Sales
- Ampoules are the traditional primary packaging solution for medicines. With the invention of injections, ampoules and syringes have also been introduced in the market. The favorable conditions to store injectable drugs are making ampoules as widely used primary packaging products.
- The demand for ampoules is hampering by prefilled syringes and ampoules in developed regions, but expected to grow in emerging regions due to low cost
- Pharmaceutical companies still prefer ampoules for basic drugs such as anesthetics, pain drugs, and anti-inflammatories. This factor is driving the global ampoules filled pharmaceutical products market.
- In addition, ampoules are growing in demand, owing to secured and cost-effective way to achieve sustainability in pharmaceutical packaging
- Ampoules are highly acceptable by companies due to its single use and tamper-proof properties, which provide high secured injectable drug delivery solutions
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