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.
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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 2022. 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 2022-2030, 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
Asian Countries to Offer Financial Growth Avenues to Manufacturers
- In the last couple of years, highly-potential Asian countries have emerged as production hubs of pharmaceutical products. Moreover, the pharmaceutical industry in Asian countries has witnessed astonishing growth. Leading pharmaceutical giants operating in the global pharmaceutical market are constantly expanding their business reach in the Asia Pacific region due to ease of availability of raw material required for pharmaceutical products and low manufacturing cost.
- Furthermore, rising private sector investment in pharmaceutical R&D in the Asia Pacific region has fueled the growth of the pharmaceutical sector to a significant extent. Thus, leading manufacturers of ampoule filled pharmaceutical products can target Asian countries to strengthen their market position and financial profitability.
Solution Contamination with Glass Micro Particles and Metals
- Although glass is the most widely preferred type of packaging material in ampoules, it also accompanies some of the notable risks associated with usage, handling, and production. One of the major risks associated with glass ampoules is the contamination of solution with glass micro particles while snap opening. It is widely observed that the metal particles introduced while processing can contaminate the solution. The glass and metal micro particles can ultimately generate organic reactions harming the body when inserted through solution.
- Moreover, improper handling of ampoules during treatments is also anticipated to expose users to percutaneous injuries. Hence, contamination with glass and micro particles is projected to be one of the major risks associated with the usage and handling of glass ampoules.
Ampoule Filled Pharmaceutical Products Market: Key Findings
- Based on drug type, the branded drugs segment is projected to lead the overall ampoule filled pharmaceutical products market capturing more than 3/5th of the market share in 2022. The same segment is projected to offer total incremental opportunity of US$ ~67 Bn with expansion of 1.9 times of its value over the next 10 years.
- In terms of therapeutic area, analgesics and vaccines segments are expected to lucrative for ampoule filled pharmaceutical products. The same segments are generating consistent demand for ampoule filled pharmaceutical products and expected to hold more than 35% share of total market share by the end of 2030.
- In terms of market share and revenue generation, the market in the Asia Pacific region is anticipated to grow significantly. Rapid expansion of the pharmaceutical industry coupled with increasing spending on healthcare in Asian countries is promising significant market growth during the forecast period.
Ampoule Filled Pharmaceutical Products Market: Competition Landscape
- TMR analyzed that the global ampoule filled pharmaceutical products market is highly competitive, owing to new start-ups and entry of local players. This completion among key players is carefully studied based on developments, strategies, and segmental revenue of companies over the past five years.
- The recent study of ampoule filled pharmaceutical products market includes profiles of players such as
- GlaxoSmithKline plc
- Johnson & Johnson
- Roche Holding AG
- Pfizer Inc
- Sun Pharmaceutical Industries Ltd
- Novartis AG
- Cadila Healthcare, etc.
- TMR differentiated these players as Tier 1, Tier 2 and Tier 3 as per their segmental earnings. Among these players, Pfizer Inc, Novartis AG, and Roche Holding AG are identified as Tier 1 players in ampoule filled pharmaceutical products market. The Tier 2 players are Johnson & Johnson, GlaxoSmithKline plc, and Merck. Tier 3 players are Sun Pharmaceutical Industries Ltd and Cadila Healthcare, among others.
Launch of Vaccines during COVID-19 Pandemic Uplifts Market Growth
- Novel coronavirus pandemic has impacted several economies across the world. In Q1 and Q2, the profitability of various manufacturing industries declined with huge numbers. However, few end-use industries such as pharmaceuticals, hospitals, and laboratories have earned profits. Product safety is a major concern for these industries and therefore, the demand for ampoules is estimated to increase exponentially during the pandemic.
- Moreover, non-contamination and hygiene maintenance of medicines during storage, transit or multiple handling levels are gaining attention amid COVID-19. This has created lucrative growth opportunities for the ampoules filled pharmaceutical products market.
- Launch of vaccines to reduce the impact of COVID-19 and other health related issues are amplifying the demand for ampoules for packaging. With increasing laboratory activities for medicine development and storage, the consumption of ampoules for drug packaging is expected to rise tremendously in the near future.