Market Size of LA Ampoules Packaging Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.50 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Latin America Ampoules Packaging Market Analysis
The Latin America Ampoules Packaging Market is expected to register a CAGR of approximately 6.5% during the forecast period (2020 - 2025). Latin America countries are working proactively towards the reduction of counterfeit medicines, vaccines, and drugs from reaching consumers. Moreover, rising geriatric population in Latin America is fostering the growth of the regional ampoules In Pharmaceutical Packaging market.
- Although quite complicated and diverse in terms of demographic, regulatory, reimbursement, and political characteristics, the region is still considered a developing market with the market structure. This led to initiating the actions and agreements between the nations and its governments to harmonize pharmaceutical regulation. The creation of regional free trade zones is one such step taken in the region.
- Ampoules are majorly used in the pharmaceutical industry for medicines packaging (sterile and sold in unit doses). Packaging in ampoules attract similar FDA regulatory requirements as vials and are mostly considered in the same class for regulatory purposes.
- The market growth is also impacted by the region's countries proactively working to reduce these counterfeit medicine, vaccines, and drugs from reaching the consumers. Also, several government initiatives initiated in several countries drive immense growth in the region's pharmaceutical sector.
- For instance, Brazil is among the most prominent pharmaceutical markets in the region, with projections estimating it to emerge as a significant player on the global level. Brazil's pharmaceutical business is now positioned as the sixth globally and is projected to be in the top five by 2021.
- Due to the Covid-19 pandemic, countries in the region are increasingly focusing on developing vaccines for treating coronavirus, which is expected to increase the demand for ampoules in the pharmaceutical industry significantly. For instance, Argentina and Mexico collaborated to produce the AstraZeneca COVID-19 vaccine for most of Latin America due to an agreement, which is signed between British pharma company AstraZeneca and the biotechnology company mAbxience of the INSUD Group. The agreement also includes the transfer of technology to initially produce 150 million doses of the vaccine to supply all of Latin America except Brazil. Hence, the demand for ampoules is expected to increase in the region over the forecast period.
