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Medical Cartridges Industry Will Grow Fastest in the Asia-Pacific Region

Medical Cartridges Industry Will Grow Fastest in the Asia-Pacific Region

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According to the forecast of the market research company, P&S Intelligence, the medical cartridges market revenue will surge from $920.8 million in 2020 to $1,691.1 million by 2030.

The medical cartridges market will grow at a rate of 6.4% in the years to come to touch a value of USD 1,691.1 million by 2030. The factors accountable for the growth of the industry are growing pharma sector and increasing requirement for injectable pharma products. 

Also, the surging elderly population and increasing occurrence of chronic and acute diseases will boost the requirement for medical cartridges all over the world.

On the basis of material type, the industry is categorized into plastic and glass. The glass category had larger share in the past, as stated by a market expert at P&S Intelligence.

Also, the category will also grow at a higher rate by the end of this decade. The higher requirement for glass cartridges is mostly because of the inert qualities of glass preventing any type of reaction with the drug.

Pharma and biotech companies dominated the industry in the past. Also, the category will continue like this in the years to come in the future. 

The highest usage of cartridges by these companies is mostly because of the tech advancements in parenteral drug delivery devices, as well as pen injectors and on-body injectors, and surge in acceptance of these kinds of devices.

The less than 3 ml medical cartridges were the most used in the past. This is majorly as a result of the increasing cases for growing affordability of insulin devices, diabetes, progressions in drug delivery systems, and increasing consciousness for the treatment of the ailment.

Europe had the largest share in the medical cartridges market in the recent past. This is mostly credited to the increasing occurrence diabetes. 

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Also, deskbound lifestyle of people in the region is the main reason for obesity. For example, as per the IDF Diabetes Atlas Ninth Edition, about 59 million adults, who were aged 20–79 years suffered from diabetes in 2019.

Alternatively, APAC will grow the fastest in the years to come, because of the growing elderly population in the region, increasing incidence of diabetes, and expanding healthcare spending.

The growing pharma sector has an important role to play in the growth of the industry. The industry manufactures biologics and biosimilar drugs for managing a number of chronic diseases, for example diabetes, cancer, and rheumatoid arthritis. Some biopharma products are advanced and manufactured in the form of injectable therapeutic agents, administered through cartridges, vials, and prefilled syringes.

It is because of the aging elderly population around the world, and the developing pharma industry, the demand for medical cartridges will continue to grow in the years to come, globally.

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