PUBLISHER: Orion Market Research | PRODUCT CODE: 1159406
PUBLISHER: Orion Market Research | PRODUCT CODE: 1159406
Global Ampoules Packaging Market Size, Share & Trends Analysis Report by Material (Glass, and Plastic) by End User (Pharmaceuticals, Personal Care, and Cosmetics) Forecast 2022-2028
The global ampoules packaging market is anticipated to grow at a significant CAGR of 9.7% during the forecast period. ` The rapid expansion in the number of medical stores, and chemists, and a high prevalence of infectious diseases are some of the prominent factors that are anticipated to boost the growth of ampoule packaging market. Ampoules are largely used to package inject-able medications and assist in maintain the sterility of the drugs and protect them from contamination. The market is also growing due to its application among various end user verticals such as pharmaceuticals, cosmetics, and personal care packaging. According to a Pharmaceuticals.Gov report published in 2020, the Indian pharmaceutical industry is the world's 3rd largest industry in terms of volume, and in terms of value. Major segments of the Indian pharmaceutical industry are generic drugs, OTC medicines, API bulk drugs, and vaccines. Additionally, the Indian pharmaceutical sector currently contributes nearly 1.72% of the country's GDP. The enlargement of the pharmaceutical sector, and the rise in the prevalence of various diseases across the globe, fueled the growth of the global ampoules packaging market in the coming future.
The global ampoules packaging market is segmented on the basis of material, and end user. Based on material, the market is bifurcated into, glass, and plastic. Based on end-user, the market is sub-segmented into pharmaceuticals, personal care, and cosmetics. Based on the end user, the cosmetic segment is expected to show tremendous growth in the global ampoules packaging market. The growth is mainly augmented due to the shift of consumers towards premium beauty cosmetics products. Consumers especially the young generation prefer green, organic, attractive packaging, and cleaner ingredients in cosmetic products. Hence, with the rising concern towards adopting luxury and complete packaging cosmetic products, the demand for the segment is anticipated to grow at the fastest phase.
Geographically market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. The Asia-Pacific region is the fastest growing region in the global ampoules packaging market. The demand is attained owing to the rise in the geriatric population, surge in the prevalence of various diseases, and rapid increase in the production of cosmetics products, which in turn support the growth of the market. According to International Trade Administration, the retail sales value of cosmetics in China rose to $523.3 billion in 2020, making it the world's second-largest beauty and personal care product market after the US.
The major companies serving the global ampoules packaging market are Amcor Group GmbH, Gerresheimer AG, Hindustan National Glass & Industries Ltd., Nipro Europe Group Co., J. Penner Corp., James Alexander Corp., Olive, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, collaboration, funding, and new product launches, to stay competitive in the market. For instance, in January 2022, West Pharmaceutical Services Inc. announced an exclusive agreement with Corning Inc. the new deal expand corning's valor glass technology to enable advanced inject able drug packaging and delivery system for the pharmaceutical industry, intending to advance patient safety and expand access to life-saving treatment.
Research Methodology
The market study of the global ampoules packaging market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives as possible, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
Secondary Sources Include:
The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.
Market Segmentation
The Report Covers: