Foldable Container Market to Approach US$ 2.0 Billion by 2033: Moderate CAGR of 4.6% Predicted in New Forecast

The market for dosage spoons is anticipated to reach US$ 279.3 million in 2023 and continue to grow at a CAGR of 5.7% from 2023 to 2033. By the end of 2033, the market is projected to reach US$ 486.1 Mn. Sales of dosage spoons are anticipated to increase, with the top 5 suppliers expected to control between 15% and 20% of the global market by 2022.

A dosage spoon is the means for measuring the dose of a drug by a patient or a healthcare professional. It is gaining immense popularity among end users due to its benefits such as availability in different sizes, accurate measurement, lightweight, reusable, disposable, and cost-effective nature.

Dosage spoons are set to be extensively used by pharmaceutical companies, hospitals, and laboratories. These are considered to be the most convenient and practical product for the rising geriatric population across the world.

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Expanding healthcare services for the rising geriatric population is anticipated to fuel the demand for pharmaceutical packaging products, including dosage spoons. Considering the overall benefits of dosage spoons, they are gaining high popularity among end users, which will supplement their sales.

Future Market Insights (FMI) anticipates that there are ample opportunities for manufacturers of dosage spoons in the next ten years due to the rising usage of this measurement device in various hospitals, labs, and pharmaceutical facilities. Growth of dosage spoons in terms of sales seems to be lucrative across various regions, says FMI.

Key Takeaways from the Dosage Spoon Market

         By material, the plastic segment is projected to register a CAGR of 5.5% during the forecast period.
         In terms of capacity, the up to 5 ml segment is estimated to hold around 46% of the market value share by the end of 2023.
         Based on end use, the commercial segment is projected to grow 1.7 times the current market value during 2023-2033.
         Demand for dosage spoons in India is projected to expand at a CAGR of 6.4% during 2023-2033.
         The dosage spoon market is likely to create an incremental growth opportunity of US$ 221.4 Mn during the evaluation period.

"Growing demand for appropriate medication with measurement devices for each person and spoons made of suitable non-toxic materials that do not harm the environment would aid sales. Besides, expanding pharmaceutical sector across the globe is projected to push sales of dosage spoons in the next ten years," says an FMI analyst.

Surging Demand for Proper Tools to Prevent Errors of Over-dose or Under-dose Will Augment Sales of Dosage Spoons

Parents while taking or providing medicines to their children sometimes make an error due to improper measurement. This error may cause harm to patients due to the intake of over or under-dose of the medicine.

Proper measurement tools such as dosage spoons can help to prevent medication errors, which would fuel the demand for these spoons among end users. Traditionally used utensil spoons for measuring medicines at home cause medication error, which increases the preference for dosage spoons among users.

Pharmaceutical companies are set to provide dosage spoons or dosage cups along with medication bottles to reduce accidental medication errors. Rising awareness among patients and parents about the proper usage of a measurement tool to measure the medicine is anticipated to augment sales of dosage spoons among end users.

Dosage spoons are convenient to use due to the measurement printed or embossed on the cups. These measurement tools would make it easy for the person to measure the medicine without the fear of error. Increasing adverse impact of over or under-dose of medication among patients will propel the demand for dosage spoons.

Competition Landscape: Dosage Spoon Market

Key players operating in the global dosage spoon market are HEINLEIN PLASTIK-TECHNIK GMBH, Comar LLC, Medicaplastic, Origin Pharma Packaging, Sampling Systems Ltd., Rx Systems, Inc., Ntinos Poupas LTD, VWR International, LLC, and Farmmash. Also, some of the other noticeable players in the market include Fox Lile Sciences, Space Age Plastic Industries, Shako Plastick, PureBulk Inc., Slipce Cast Limited, and Suretx Instruments Limited.

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Dosage Spoon Market Outlook by Category

By Material:

         Plastic
         Metal
         Glass

By Capacity:

         Up to 5 ml
         6 ml to 10 ml
         11 ml to 15 ml
         Above 15 ml

By End Use:

         Commercial

o    Laboratories

o    Hospitals & Medical Facilities

o    Pharmaceutical Companies

o    Research Institutes

         Institutional

By Region:

         North America
         Latin America
         Europe
         East Asia
         South Asia
         Middle East and Africa (MEA)
         Oceania

Contact:
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

This release was published on openPR.