As per a recently published study by FMI, the global dosage cups market is estimated to total US$ 3.3 billion by the end of 2031, expanding at a CAGR of 5% over the forecast period from 2021 to 2031.
Surging demand for accurate measuring equipment in hospitals, medical institutions, and pharmaceutical sectors is augmenting the market growth. Driven by this, the sales of dosage cups are anticipated to spur by 4.4% year-over-year growth, totaling 45.2 billion units in 2021.
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Increasing prevalence of chronic ailments such as cardiovascular diseases, cancer, skin diseases, and others is fuelling the demand for medicines, ointments, and vaccines across the world. As dosage cups are used for measuring the dose of the medication or drug to be administered to any patient, their sales are expected to rise to offer precise drug delivery in hospitals, clinics, and homecare settings alike.
The outbreak of COVID-19 has favored the expansion of the medical, healthcare, and pharmaceutical industries. To cater the surging demand for effective therapeutics, governments across various nations are encouraging pharmaceutical companies to increase their production capacity of pharmaceutical bionics and drugs. Considering this, the pharmaceutical industry is projected to create an incremental opportunity of US$ 889.5 million, accounting for 58% of the overall dosage cups sales through 2031.
"Key manufacturers are emphasizing on offering innovative products such as dosage cups with child resistance caps. Besides this, they are extensively focusing on using recycled plastics to produce disposable dosage cups to meet increasing demand and offer sustainable drug measuring devices," says the FMI analyst.
Key Takeaways from the Dosage Cup Market Analysis
- Sales of dosage cups in the U.S. are estimated to rise at 3.7% year-on-year, surpassing a valuation of US$ 429.5 million by the end of 2021.
- Germany is forecast to dominate the market in Europe, accounting for around 1/5th of sales in the region over the assessment period 2021-2031.
- The market in China is expected to grow at a healthy CAGR of 6.7%, contributing more than 72% of the revenue share in East Asia through 2031.
- India, being one of the leading pharmaceutical producers in the world, is projected to account for nearly 45% of the sales in the South Asia market by 2031.
- In terms of capacity type, up to 15ml is anticipated to project the fastest growth in the segment, surging at a CAGR of 6.8% during 2021-2031.
- Growing demand for cost-effectiveness and convenient drug measuring devices and rising sales of over-the-counter drugs across the globe are driving the market.
- The adoption of printed dosage cups is increasing across clinical labs and hospitals because they offer greater accuracy in drug delivery.
- Stringent regulations implemented on the manufacturing of plastics products across North America and Asia Pacific are hampering the growth of the dosage cups market.
- Availability of more precise and reusable dosage measuring devices such as droppers, syringes, and cylindrical spoons are hindering the sales of dosage cups.
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As per FMI, the top player operating in the dosage cups market are Sonoco Products Company, Gerresheimer AG, Medline Industries, Inc., Comar LLC, SGH Healthcaring, H&T Presspart Manufacturing Ltd., Hammarplast Medical AB, and Origin Pharma Packaging. These companies are expected to account nearly 20% to 25% share in the global landscape.
Leading players are focusing on launching new products and increasing their production capacity to cater the increasing demand for dosage cups. Some of the players are aiming at expanding their global footprint by merger & acquisitions with local players. For instance,
- In July 2021, H&T Manufacturing Ltd., a leading manufacturer of drug-delivery systems and pharmaceutical components, announced acquiring Novelex AG, a pharmaceuticals plastic components and devices manufacturer, to expand its product portfolio and global footprint.
- In January 2020, LLC Farmmash, a manufacturer of polymer closures and dose measuring, announced launching its new dosing cup SD-15. The dosing cup ranges from 20 ml to 25 ml and can be equipped with a child resistance cap. The strategy will assist the company to increase their market share.
Leading players operating in the market profiled by FMI are:
- Sonoco Products Company
- Origin Pharma Packaging
- Comar LLC
- Adelphi Healthcare Packaging
- SGH Healthcaring
- Gerresheimer AG
- Hammarplast Medical AB
- Medline Industries, Inc.
- Plastic Bubbles
- Hiwalt (Pty) Ltd.
- H&T Presspart Manufacturing Ltd.
- LLC Farmmash
- Reynard Health Supplies
- Phormpak SA
- Techplas Aust Pty Ltd.
- Parekhplast India Limited
- AG Poly Packs Private Limited
- Suzhou Xuanweicheng Biotechnology Co., Ltd
- Plasticmate Sdn Bhd
- UD Pharma Rubber Products
More Valuable Insights on Dosage Cups Market
FMI, in its new report, offers an unbiased analysis of the global dosage cups market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in dosage cups market with detailed segmentation:
- Upto 15ml
- 16ml to 35ml
- Above 35ml
By Product Type:
- Clinical Labs
- Medical Institutions
- North America
- Latin America
- South Asia
- East Asia
- Middle East and Africa (MEA)
Discover more about the dosage cups analysis with figures and data tables, along with the table of contents, ask an Analyst@ https://www.futuremarketinsights.com/ask-question/rep-gb-13441
Key Questions Covered in the Report
- The report offers insight into dosage cups market demand outlook for the forecast period 2021-2031
- The market study also highlights projected sales growth for dosage cups market between 2021 and 2031
- Dosage cups market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Dosage cups market share analysis, covering key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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About Future Market Insights (FMI)
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