Published: April 2021 | Report Code: LS12176 | Available Format: PDF | Pages: 180
The global medical cartridges market generated revenue of $920.8 million in 2020, and it is expected to grow at a CAGR of 6.4% during the forecast period (2021–2030). Factors that are responsible for the growth of the market include growing pharmaceutical industry and increasing demand for injectable pharmaceutical products. Furthermore, surging aging population and rising prevalence of acute and chronic diseases are projected to boost the demand for medical cartridges.
The COVID-19 pandemic has made governments across the globe to take necessary measures in order to stop the spread of the virus. Several restrictions, such as social distancing, lockdowns, partial or full closure of factories, and temporary suspension of import and export activities, have been imposed in order to contain the virus. These restrictions have also affected the operations of hospitals and nursing homes, resulting in reduced number of hospital visits by non-COVID patients. Also, workflow of the manufacturing industry has been obstructed, which ultimately decreasing the productivity.
Based on material type, the medical cartridges market is categorized into glass and plastic. The glass category held larger share in the industry in 2020. Furthermore, the category is also expected to witness higher CAGR during 2021–2030. The higher demand for glass cartridges is mainly due the inert qualities of glass that prevents any type of reaction between the drug and the cartridge. Furthermore, glass walls also prevent the contamination of pharmaceutical products stored within them, by not letting gases and other volatile substances to enter the chamber.
On the basis of end user, the market for medical cartridges is classified into pharmaceutical and biotech companies, biomedical research organizations, and others. Among these, the pharmaceutical and biotech companies held the largest market share in 2020. Furthermore, the category is also expected to witness the same trend in the forecast period. The highest use of cartridges by these companies is mainly because of the technological advancements in parenteral drug delivery devices, including pen injectors and on-body injectors, and increase in adoption of such devices.
Based on size, the medical cartridges market is categorized into of less than 3 ml, 3 to 5 ml, 6 to 10 ml, and more than 10 ml. Out of these, the less than 3 ml category held the largest market share in 2020. This is majorly due to the rising cases for diabetes, increasing affordability of insulin devices, advancements in drug delivery systems, and growing awareness for the treatment of the disease.
Geographically, Europe was the largest market for medical cartridges in 2020. This is mainly attributed to the rising prevalence diabetes in the region. Furthermore, sedentary lifestyle of people in Europe is giving rise to obesity. For instance, according to the IDF Diabetes Atlas Ninth Edition, around 59 million adults aged 20–79 years had diabetes in 2019.
On the other hand, the Asia-Pacific (APAC) medical cartridges market is expected to witness the fastest growth during the forecast period, owing to the increasing geriatric population, growing prevalence of diabetes, and rising healthcare expenditure in the region.
The demand for cartridges has increased, due to their rising usage in diagnostic applications, such as computed tomography (CT) scans and magnetic resonance imaging (MRI) tests. With the rise in cases of chronic diseases, such as cancer, volume of such diagnostic tests has increased. For instance, according to the World Health Organization (WHO), the number of new cancer cases registered in 2018 was 17,036,900, which increased to 19,292,789 in 2020. Thus, with the surging need for such tests, the demand for high-volume cartridges is increasing.
The growing pharmaceutical industry plays a pivotal role in the growth of the market for medical cartridges. The industry produces biologics and biosimilar drugs for the management of various chronic diseases, such as cancer, diabetes, and rheumatoid arthritis. Some biopharmaceutical products are developed and manufactured in the form of injectable therapeutic agents, which are administered through vials, cartridges, and prefilled syringes.
|Base Year (2020) Market Size||$920.8 Million|
|Market Size Forecast in 2030||$1,691.1 Million|
|Forecast Period CAGR||6.4%|
|Report Coverage||Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Regional and Country Breakdown; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis; Company Profiling|
|Market Size by Segments||By Material Type; By End User; By Size, By Region|
|Secondary Sources and References (Partial List)||American Cancer Society; American Diabetes Association; Association of Diagnostics Manufacturers of India; Association of Indian Medical Device Industry; Association of Medical Diagnostics Manufacturers; Association of the Diagnostics Industry; British In Vitro Diagnostic Association; Canada Diabetes Association; Center for Medicare & Medicaid Services; Center for Disease Control and Prevention; China National Drug Administration|
The global medical cartridges market is consolidated in nature, with the presence of few key players. Some of the major players in the industry include SCHOTT AG, Gerresheimer AG, Stevanato Group, Nipro Corporation, Baxter International Inc., and Thermo Fisher Scientific Inc.
In recent years, the players in the cartridge industry have been involved in expansions in order to improve their market position. For instance:
The global medical cartridges market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.
Based on Material Type
Based on Size
Based on End User
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