The global ampoule and syringes market
demonstrates a highly dynamic and competitive landscape, finds a new
research report by Transparency market Research (TMR). The market has
been largely dominated by Becton, Dickinson and Co., Gerresheimer AG,
West Pharmaceuticals, Schott AG, and Nipro Corp., which collectively,
held a share of nearly 77% in the overall market in 2015.
Hitherto, these companies have been
concentrating on making heavy investments in R&D activities;
however, their focus is likely to shift towards constructing
manufacturing facilities in high growth regions, such as India and China
in the near future. Apart from this. Strategic alliance with leading
regional participants will be another key focus area for these players
over the next few years, states the research report.
As per the research study, the global
market for ampoules and syringes, which stood at US$5.1 bn in 2015, is
likely to progress at an impressive CAGR of 10.50% during the period
from 2016 to 2024, increasing the opportunity in this market to US$12.4
bn by the end of the period of the forecast. The demand for glass
ampoules and glass syringes has been much higher than other products in
this market and is expected to remain so over the years to come.
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An exhaustive study of the geographical
segmentation of the worldwide ampoule and syringes market has also been
included in this research study. According to the report, the worldwide
market for ampoule and syringes stretches across Europe, the Middle
East, and Africa (EMEA), Asia Pacific (APAC), Countries under the North
American Free Trade Agreement (NAFTA), i.e., the U.S., Canada, and
Mexico, and the Rest of the World.
EMEA has been leading the global market
over the last few years and is expected to retain its position
throughout the forecast period. The presence of a state-of-art medical
and healthcare infrastructure, increasing shift towards home healthcare,
and the rising awareness among consumers regarding the benefits of
ampoules and prefilled syringes in the region. Europe has emerged as the
key contributor to the EMEA market for ampoule and syringes and is
anticipated to remain seated in this position in the near future. The
NAFTA ampoule and syringes market is also expected to witness healthy
growth over the next few years, thanks to the presence of a large number
of leading pharmaceutical companies in this region, notes the study.
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