Multiple dose container Market Growth Expected to Dominate Worldwide by 2024
Growth of pharmaceutical industry stimulated several allied industries like packaging. On the backdrop of increasing as well as diversified demand of healthcare industry, packaging manufacturing companies are coming up with new and attractive packaging solutions according to the requirement of the drug manufacturing companies. A multiple dose container is a bottle of liquid medication that comprises more than one dose of medication and is accepted by the Food and Drug Administration (FDA) for usage on multiple persons. Manufacturers of multiple dose container use antimicrobial preservative to avert the growth of bacteria. The demand of multiple dose container is gaining traction among the pharmaceutical manufacturing companies to minimize the cost.
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Multiple dose container Market: Market Dynamics
Growth in demand for multiple dose container is expected to be stable over the upcoming years, on the backdrop of pharmaceutical manufacturer’s inclination to adopt convenience packaging solutions to enhance the shelf life of drugs. Increasing prices of medicines is expected to enforce the hospitals and nursing home to use multiple dose container packaging solutions for minimizing the cost which in turn drives the multiple dose container market during the forecast period. The transportation cost through cold chain is increasing significantly, which in turn increases the preference towards the multiple dose container owing to its important properties such as single dose can be administered to the single patient and the multiple dose container can be used for the multiple patient. Multiple dose container requires economical storage cost that is expected to accelerate the overall demand of multiple dose container market during the forecast period. Multiple dose container can be used up to twenty eight days after administrating it to one patient which can positively influence the global multiple dose container market during the forecast period.
Multiple dose container: Market Segmentation
The global single dose container market is segmented on the basis of material type, product type and application
Based on the material type the global multiple dose container market is segmented into:
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Based on the product type the global multiple dose container market is segmented into:
Based on the application the global single dose container market is segmented into:
Multiple dose container Market: Regional outlook
In terms of geography, the global multiple dose container market has been divided in to five key regions including North America, Latin America, Europe, Asia-Pacific and Middle East & Africa. North America is expected to account maximum market proportion throughout the forecast period. Growing pharmaceutical sector in US is expected to be one of the prominent reason of the massive growth of multiple dose container in the North America. Europe is expected to be one of the lucrative region among the multiple dose container manufacturers. This is attributed by the massive investment in research & development by the drug manufacturers which in turn accelerates the sales of multiple dose container in the upcoming decade. Asia Pacific region is anticipated to register maximum CAGR during the forecast period. India and China are the beneficial country among the manufacturers of multiple dose container. China is anticipated to be the attractive country in the Asia Pacific region owing to the rising old age population. However, the Middle East & Africa region is expected to be sluggish throughout the forecast period.
Multiple dose container Market: Key players
Some of the key players in the global multiple dose container market are Schott AG, Gerresheimer AG, Becton Dickinson B.V., West Pharmaceutical Services, Inc., Nipro Corporation, Ypsomed Holding AG, SiO2 Medical Products, United Drug Plc., Catalent Inc. etc.
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