The global pharmaceutical cartridges market size is expected to reach USD 1.83 billion by 2026, according to a new report by Grand View Research, Inc. The market is estimated to expand at a CAGR of 7.8% during the forecast period. Rising awareness regarding the benefits of using pharmaceutical cartridges in the packaging industry is propelling the market demand. These benefits include on-time, accurate, and safe drug delivery, break-resistance packaging, and low residual volumes of drugs. Increasing prevalence of chronic diseases, such as arthritis, diabetes, and oral conditions, and high demand for long-term storage of drugs are also anticipated to contribute toward market growth.
For
instance, as per the National Diabetes Statistics Report published in 2017,
American Indians were reported with the highest prevalence of diabetes for both
females (15.3%) and males (14.9%). Insulin therapy plays an important role in
the treatment of diabetes. Thus, growing cases of diabetes may augment the
demand for insulin therapy. Previously, traditional packaging, such as blister
packs and bottles, were used for insulin delivery. However, owing to several
advantages, pharmaceutical cartridges are being preferred, which, in turn, is
supporting market development.
In
addition, various initiatives taken by prominent companies in the industry are
also expected to augment the pharmaceutical cartridges market demand. For
example, the chairman and CEO of Merck stated in an article that the company is
planning to convert its injectable products to the new glass packaging
solution, once it receives approval. Furthermore, in 2015, Schott AG started a
center of excellence at its U.S. production facility for developing
chemically-strengthened glass cartridges.
Full Research Report On Pharmaceutical Cartridges Market Visit Here:
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Pharmaceutical
Cartridges Market Report Highlights
- In terms of revenue, the
glass cartridges segment is projected to expand at the fastest CAGR over
the forecast period
- Increasing prevalence of
chronic diseases across the globe and advantages offered by glass
cartridges over the conventional ones are projected to drive the segment
growth
- North America led the market
in the past accounting for the largest share due to increased cases of
diabetes and other chronic diseases among all age groups
- Some of the key companies in
the pharmaceutical cartridges market are Gerresheimer AG; SCHOTT AG; West
Pharmaceutical Services, Inc.; Merck KGaA; Stevanto Group; Transcoject
GmbH; and Baxter International, Inc.
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Pharmaceutical
Cartridges Market Segmentation
Grand View Research has segmented
the global pharmaceutical cartridges market on the basis of material type and
region:
Pharmaceutical
Cartridges Material Type Outlook (Revenue, USD Million, 2014 - 2026)
- Glass
- Type 1
- Type 2
- Type 3
- Plastic
- Polypropylene (PP)
- Cyclic Olefin Copolymer
(COC)
- Cyclic Olefin Polymer (COP)
- Polyethylene (PE)
Pharmaceutical
Cartridges Regional Outlook (Revenue, USD Million, 2014 - 2026)
- North America
- The U.S.
- Canada
- Europe
- The U.K.
- Germany
- Asia Pacific
- China
- Japan
- Latin America
- Brazil
- Mexico
- MEA
- South Africa
- Saudi Arabia
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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