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Medical Cartridges Market is Expected to Exhibit Huge Expansion During 2021-2030

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Medical Cartridges Market is Expected to Exhibit Huge Expansion During 2021-2030

August 05
10:15 2021
Medical Cartridges Market is Expected to Exhibit Huge Expansion During 2021-2030
The global medical cartridges industry is projected to generate $1,691.1 million revenue by 2030 by P&S Intelligence.

Due to the expansion of the pharmaceutical industry and the burgeoning requirement for injectable pharmaceutical products, the global medical cartridges market is expected to exhibit huge expansion during 2021–2030 (forecast period). According to the forecast of the market research company, P&S Intelligence, the market revenue will surge from $920.8 million in 2020 to $1,691.1 million by 2030. Furthermore, the market is expected to progress at a CAGR of 6.4% during the forecast period.

The pharmaceutical industry produces biosimilar drugs and biologics for the management of several chronic diseases such as rheumatoid arthritis, diabetes, and cancer. Some biopharmaceutical products are produced in the form of injectable therapeutic agents, that are administered via cartridges, prefilled syringes, and vials. Besides the flourishing pharmaceutical industry, the rising prevalence of chronic diseases and the soaring population of geriatric people are also fueling the growth of the medical cartridges market.

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According to the World Population Aging 2020 report published by the United Nations Department of Economic and Social Affairs (UNDESA), the population of people aged 65 years or above will rise from 727 million in 2020 to more than 1.5 billion by 2050. Moreover, as per the World Health Organization (WHO), cancer is one of the major causes of deaths across the world and was responsible for around 10 million deaths in 2020.

The WHO also found that 422 million people all over the world suffer from diabetes, with a majority of these patients living in low- and middle-income countries. Moreover, diabetes claims the lives of 1.6 million people every year. Depending on material type, the medical cartridges market is divided into plastic and glass categories. Of these, the glass category held the larger share between 2014 and 2020 (historical period). This category is also predicted to dominate the market during the forecast period.

As per the European Chronic Diseases Alliance (ECDA), at least one chronic disease affects nearly one-third of the total population in the age bracket—15 years and above—in the region. Because of these reasons, the region will also dominate the market in the coming years. Whereas, Asia-Pacific (APAC) is predicted to be the fastest growing region in the medical cartridges market in the upcoming years, on account of the increasing healthcare expenditure and the mushrooming population of geriatric people in the region.

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The major players operating in the global medical cartridges market include SCHOTT AG, Gerresheimer AG, Stevanato Group, Nipro Corporation, Baxter International Inc., Thermo Fisher Scientific Inc., and Merck KGaA.

Market Size Breakdown by Segment

Based on Material Type

  • Glass
  • Plastic

Based on Size

  • Less than 3 ml
  • 3 ml to 5 ml
  • 6 ml to 10 ml
  • More than 10 ml

Based on End User

  • Pharmaceutical and Biotech Companies
  • Biomedical Research Organizations

Geographical Analysis

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    •  Italy
    • Spain
    • Netherlands
  • APAC
    • China
    • Japan
    • India
    • Australia
    • Brazil
    • Mexico
    • Argentina
  • MEA
    • Saudi Arabia
    • South Africa
    • U.A.E.

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Prefilled Syringes Market

Globally, Europe contributed the highest revenue to the prefilled syringes market in 2020, because of the high incidence of non-communicable diseases such as cancer, cardiovascular diseases, and diabetes in the region.

Human Insulin Market
Geographically, the human insulin market is predicted to exhibit explosive growth in the Asia-Pacific region in the forthcoming years, on account of the rising incidence of diabetes, growing adoption of sedentary lifestyles, unhealthy eating habits of people, and increasing geriatric population in the regional countries such as India and China. 

Media Contact
Company Name: P&S Intelligence
Contact Person: Abhishek
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State: UP
Country: India