Ampoules and Syringe Market to reach US$ 9,972.6 Mn by 2028

Ampoules are vial that is used to store solution or powder which is prepared into a solution for the intramuscular or intravenous injection. It is made up of plastic or glass and comes in a sealed form in order to prevent microbial contamination. PVC, polyethylene, and polypropylene are some of the type of the plastic used to produce ampoules. The syringe is a medical device that has a hollow needle attached to it that pierce the skin in order to administer the drug into the body. The needle is made up of plastic and disposable product in order to reduce the risk of reuse. Traditionally, it was produced with the metal or glass and require sterilization and cleaning. Plastic is a result of advancements in technology in order to enhance the medical facility.

The global ampoules & syringes market is expected to surpass US$ 9,972.6 Mn in terms of value by the end of 2028.

Drivers:

Increasing demand for prefilled syringes that ensure precise delivery of the drug is expected to augment growth of the ampoules & syringes market. These syringes can be stored easily due to excellent property of crack resistance and covering which enable easy transport and storage. These syringes are produced from a polymer such as thus offering durability in terms of physical damage. Therefore, the rising demand for prefilled syringes is expected to foster the market growth of ampoules & syringes.

Market Opportunities

Plastic ampoules are gaining traction in the market especially polyethylene ampoules due to their excellent chemical and mechanical property is expected to augment the market growth. The plastic-based ampoules offer easy storage and transportation and crack resistant properties. This property of the polyethylene ampoules is projected to fuel the market growth of the ampoules & syringes over the forecast period.

Global Ampoules & Syringes Market: Recent Developments

In October 2021, West Pharmaceutical Services, have launched its latest offering for the Indian domestic market with the launch of NovaGuard SA Pro Safety System, a single-use accessory for prefilled ISO standard 0.5mL staked needle syringes.

In September 2021, ICU Medical has announced that company has committed to acquire the Smiths Medical division in a transaction that is superior to the existing proposed sale of Smiths Medical to Trulli Bidco Limited. When Smiths Medical combined with ICU Medical’s existing businesses, the combined companies will be a leading infusion therapy company with estimated pro forma combined revenues of approximately US$ 2.5 billion.

In August 2020, Sharp, part of UDG Healthcare plc, has purchased a minority 25% ownership in Berkshire Sterile Manufacturing (BSM), extending the existing preferred partner agreement that has been in place between the two businesses since 2018.

Market Restraints

Product recall due to damage to the product is expected to restrict market growth. In the recent past years, there has been an increase in the product recalls recorded for glass ampoules & syringes because of glass breakages. The recall was also due to other issues such as leachable. For instance, there was a recall of Eprex pre-fillable syringes due to leachable from the prefilled syringe rubber plunger. Hence, rising cases of product recall is expected to hinder the market growth.

Global Ampoules & Syringes Market - Impact of Coronavirus (Covid-19) Pandemic

The market of ampoules & syringes witnessed strong growth during Covid-19 pandemic due to rising cases of Covid-19 around the globe. This has created high demand for syringes and ampoules for safe administration of drug to the patient. So the ampoules & syringes market experienced positive growth during pandemic.

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Key Takeaways:

The global ampoules & syringes market was valued at US$ 6,100.0 Mn in 2020 and is forecast to reach a value of US$ 9,972.6 Mn by 2028 at a CAGR of 6.4% between 2021 and 2028.
The glass segment was valued US$ 3,989.4 Mn in 2020 and is expected to witness a CAGR of 6.7% over the forecast period.

Market Trends

The growing investment by major players in the medical packaging industry is expected to augment the market growth of the ampoules & syringes. For instance, in April 2019, SCHOTT has made a $1 billion global investment in its global pharmaceutical packaging business. This investment has been made in response to the growing global demand for high-quality pharmaceutical packaging, such as vials, syringes, ampoules and cartridges made of Borosilicate glass and polymer.

The market of ampoules & syringes have witnessed various strategic partnerships and collaboration among key players to expand their business at a global level. This is expected to fuel the market growth of the ampoules & syringes. For instance, in August 2019, Nephron Pharmaceuticals Corporation has partnered with Clemson University to develop a robotic solution for syringe-filling automation to enhance sterile manufacturing in the pharmaceutical production process and keep up with growing hospital demands.

Competitive Section:

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