Global Ampoules Packaging Market - Segmented by Material (Glass, and Plastic), Application (Personal Care, Pharmaceutical, and Industrial), and Region - Growth, Trends, and Forecast (2018 - 2023)
The global ampoules packaging market was valued at USD 3.37 billion in 2017, and is expected to reach a value of USD 5.49 billion by 2023 at a CAGR of 8.46 %, over the forecast period (2018 - 2023). The regions considered under the scope of the report include North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
The growth in the demand for vaccines and drugs, due to increasing number of diseases and viral infections, is primarily driving the market. Moreover, regulatory authorities are paying attention to the useage of appropriate primary packaging materials across the world. As a result, regulations and standards have become quite comprehensive and detailed, which are favoring the market. The increasing technological propagation and amalgamation of ampoules packaging applications with a variety of products, such as glass, plastic, etc., are the other major factors driving the growth of ampoules packaging market . Use of innovative technologies in ampoules, such as radio frequency identification tags (RFIT), deployed with a seal on the packaging, is growing, owing to the potential to provide individual security throughout supply chains. However, high-capital investment involved in the establishment of an ampoules packaging manufacturing unit is encumbering the market growth.
Growing Demand for High-quality Pharmaceutical Packaging will drive the Market Growth
The demand for high-quality packaging is growing in healthcare and pharmaceutical sectors. Quality assurance from pharmaceuticals for the products that are packaged, manufactured, and are stored in a controlled and uncontaminated environment, has become an important component. Moreover, many innovative drugs are being released in the market, which require the right packaging solutions, with an emphasis on quality standards. Owing to these aspects, companies and manufacturers are following ISO standards, such as ISO 9001. To serve the growing demand, major companies like SCHOTT invested EUR 12 million in a newly established manufacturing plant in Russia, which serves approximately 500 million vials and ampoules every year.
Pharmaceutical Industry to Create a Huge Demand for Ampoules Packaging
Owing to the significant growth of the pharmaceutical packaging market, the global ampoules packaging market is accelerating. The advent of novel injectable therapies, due to research and advancements in the field of biotechnology, is also augmenting the market. Moreover, strict government regulatory frameworks and industry standards for pharmaceutical packaging, are encouraging the growth of the ampoules packaging in developed countries, like the United States, Germany, etc. Light and UV penetration concerns have led to the increase in usage of ampoules in the pharmaceutical industry. These provide maximum protection from different wavelengths of light and are mandated in case of many drugs. Due to its extremely moldable nature, ampoules plastic allows various shapes and sizes of packaging, for varied applications in the pharmaceutical industry. This ready-to-use packaging solution facilitates pharmaceutical companies to react faster to new industry trends, without building specific manufacturing capabilities. This made companies invest in efficient pharmaceutical packaging, such as Gerresheimer, which offers a broad portfolio of highly-competitive pharmaceutical ampoules in pharma glass.
North America Dominates the Market
North America has the largest pharmaceuticals market. Technological innovations in packaging and advanced manufacturing process are driving the pharmaceutical packaging market in this region, especifically in the United States. Also, the continuously increasing expenditure in medical sector in the said country is augmenting the market growth in North America. Moreover, the relevance of smaller companies has been quite insignificant in the US market. Hence, they are consolidating with the larger organizations, which may result in the availability of huge resources to develop advanced packaging technologies, which is expected to drive the growth of the market over the forecast period. Companies, such as SCHOTT, have been leading in innovation, by delving deep into the industry to gain exhaustive experience and knowledge related to the packaging industry in the country.
Major Players: SCHOTT AG, J.PENNER CORPORATION, GERRESHEIMER AG, AMPOSAN SA, and OCMI-OTG SPA, amongst others.
Key Developments in the market