Market Trends of LA Ampoules Packaging Industry
This section covers the major market trends shaping the Latin America Ampoules Packaging Market according to our research experts:
Glass Packaging is Expected to Exhibit Significant Growth
- Glass is witnessing significant growth in the packaging industry, due to the several properties of glass, such as 100% recyclable, which makes it a desirable packaging option from the environmental point of view. Glass is one of the most desired packaging options in the ampoules packaging industry, due to the several stringent regulations regarding the quality and integrity of the drugs.
- Additionally, the increasing demand for sterile medical packaging products from the pharmaceutical industries would further drive the growth of the market over the forecast period. In glass ampoules, medication is only in contact with glass, and the packaging is 100% tamper-proof. Therefore, over the years, these ampoules have been widely used in packaging injection drugs.
- The significant increase in the efforts for the development of vaccines for the Covid-19 pandemic in the region is also expected to increase the demand for glass ampoules and vials packaging substantially in the region. Such trends and instances are expected to significantly boost the adoption of glass packaging for ampoules in the region.
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Brazil is Expected to Hold a Significant Share in the Market
- 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 in the world and is projected to be in the top five by 2021.
- Since ampoules are majorly used in the pharmaceutical industry, the country is expected to witness significant growth in the adoption of the ampoules packaging solutions over the forecast period. Also, glass is expected to dominate the Brazilian ampoules packaging market due to the increasing manufacture of glass packaging solutions in the country.
- According to a study by the Instituto Brasileiro de Geografia e Estatística, the revenue of the industrial manufacture of glass packaging in Brazil is projected to reach approximately USD 926.8 million by 2023, as compared to USD 884.82 million in 2019.
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