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Ampoules and Syringes Market - Projections & Opportunity Forecast during the Period 2017-2024
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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.
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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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