Injection Port Market is Anticipated to Witness High Growth Due to Increasing Demand from Pharmaceutical Industry
Injection Port Market is Anticipated to Witness High Growth Due to Increasing Demand from Pharmaceutical Industry
Blog Article
The Asia Pacific injection port market is largely driven by the increasing geriatric population and rising prevalence of chronic diseases such as diabetes, cancer and cardiovascular diseases. Injection ports are handy medical devices which allow multiple injections through a single port, while minimizing the risk of contamination and infection. The rising demand from pharmaceutical and biologics manufacturing industries is also propelling the growth of the Asia Pacific injection port market.
The Global injection port market is estimated to be valued at US$ 1.55 Bn in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the injection port are Jungbunzlauer, Gadot Biochemical Industries, Sucroal, Dr. Paul Lohmann, Global Calcium, TATE & LYLE, American Elements, Triveni Chemicals, A.B. Enterprises, Nikunj Chemicals, Advait Industries, Anmol Chemicals, Krishna Chemicals, AMS biotechnology, Henan Honghui Biotechnology. The major players are focusing on strategic collaborations and new product launches to expand their market share in the emerging economies of Asia Pacific.
The growing pharmaceutical manufacturing industries in countries like India and China offer lucrative opportunities for players in the injection port market to leverage. The COVID-19 pandemic has also emphasized the need for continuous drug development and manufacturing, acting as a key growth driver.
The increasing R&D investment and rising focus on generic drugs in Asia Pacific countries also offer potential opportunities for global players to expand their footprint. Companies are investing heavily in building manufacturing facilities, distribution networks and collaborating with local pharma companies in Asia Pacific countries.
Market drivers:
- Increasing geriatric population and prevalence of chronic diseases
- Rising demand from pharmaceutical and biologics manufacturing industries
- Growing healthcare expenditure in emerging nations
Market restrain:
- Availability of alternative drug delivery options
- Stringent regulatory approvals and quality standards
- High costs associated with injectable drugs
Segment Analysis
The glass Injection Port Market Size segment dominates the Injection Port Market accounting for over 30% share. Glass injection ports are versatile, affordable and offer excellent chemical resistance making them suitable for injection of various pharmaceutical solutions. They can withstand high pressures and temperatures allowing for efficient injection moulding processes.
The plastic injection port segment is expected to witness fastest growth during the forecast period. Adoption of plastic ports is increasing as they are lightweight and cost effective as compared to glass ports. Advancements in material engineering have improved heat and chemical resistance of engineered plastics. This has expanded applications of plastic ports in pharmaceutical, food and beverage industries.
Global Analysis
North America holds the largest share in the Injection Port Market Regional Analysis owing to well established pharmaceutical industry and presence of major injection moulding equipment manufacturers. The region is projected to witness highest growth rate through 2031 supported by escalating healthcare investments, stringent purity standards and innovation in drug delivery mechanisms.
Asia Pacific region is emerging as a high potential market for injection ports due to expansion of generics manufacturing and rapid development of healthcare infrastructure in countries like India and China. Rising income levels are improving access to premium medical treatments propelling demand. Additionally, relocation of production facilities from developed economies provides impetus to regional market.
Get More Insights On Injection Port Market
Explore More Related Articles- Surgical Robots Market
For Deeper Insights, Find the Report in the Language that You want.
About Author:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163) Report this page