PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515458
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515458
Pharmaceutical Glass Packaging Market size was valued at USD 20,145.2 Million in 2023, expanding at a CAGR of 10.60% from 2024 to 2032.
Pharmaceutical glass packaging plays a critical role in guaranteeing the efficacy, safety, and integrity of pharmaceutical medicines. It entails utilizing specially made glass closures and containers to shield medications from elements, including light, moisture, and chemical reactions that could degrade their quality. Excellent barrier qualities, inertness, and transparency that permit visual examination of the contents are only a few of its many benefits. Glass containers are perfect for keeping and conserving medications since they have a long shelf life and can withstand temperature changes. Glass is also a non-reactive substance that reduces the possibility of contamination or leaching, preserving the stability and purity of pharmaceuticals.
Pharmaceutical Glass Packaging Market- Market Dynamics
Expanding Pharmaceutical Sector to Propel Market Growth
The pharmaceutical sector is expanding quickly, mostly in industrialized nations like the United States, United Kingdom, and Germany, as well as in developing nations like China, India, and Brazil. The pharmaceutical business is expected to experience a boom in demand for glass packaging due to exponential population expansion, increased health awareness, and rising public healthcare system investment. Furthermore, it is anticipated that the pharmaceutical business will use more glass due to growing technological breakthroughs and the adoption of sophisticated manufacturing techniques. Glass has many advantageous qualities, including high recyclability, transparency, and chemical inertness, which will drive up demand for the product in the years to come. Because glass packaging is easily sterilized, it is impervious to moisture and air, which helps the market expand.
Pharmaceutical Glass Packaging Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 10.60% over the forecast period (2024-2032)
Based on product segmentation, the bottles category was predicted to show maximum market share in the year 2023
Based on drug type segmentation, the generic category was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Pharmaceutical Glass Packaging Market is segmented on the basis of Product, Drug Type, and Region.
The market is divided into two categories based on product: Vials & Ampoules, Bottles, Cartridges, and Syringes. The bottles category dominates the market. This segment's growth can be attributed to its superior protective qualities, stiffness, and chemical inertness. Furthermore, bottles are now preferred over other packaging materials for both liquid and solid pharmaceutical preparations, including syrups, pills, capsules, and eye care items. Growth in the market is anticipated to be driven by the pharmaceutical industry's growing need for bottles.
The market is divided into the following categories based on drug type: Generic, Branded, and Biologic. The generic category dominates the market and is likely to maintain its dominance during the forecast period. The aging population, an increase in the number of chronic disease cases, and the increasing number of medicine patents expiring have all contributed to the growth of the generic drug market globally in recent years. Generic medicine consumption is also expected to be boosted by government and healthcare provider initiatives to lower healthcare costs, drug pricing, and the availability of health insurance. The need for pharmaceutical glass packaging is anticipated to rise in response to the growing use of generic medications because of its exceptional barrier properties and regulatory ease.
Pharmaceutical Glass Packaging Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Over the course of the forecast period, North America is anticipated to hold the greatest share of the global market for pharmaceutical glass packaging. Over the next few years, the pharmaceutical sector is predicted to spend a lot more money in developing markets. It is anticipated that the United States will continue to be the primary catalyst and largest market for the expansion of the pharmaceutical industry in the area, with novel products driving this growth. The rise of generics in the area, which is predicted to experience consistently high demand in terms of volume and sales, is likely to help this growth. Because of the explosive development in the number of consumers and their expenditure, emerging markets are predicted to grow at faster rates than developed ones.
In addition, the pharmaceutical glass packaging market is anticipated to expand at the fastest rate in the world during the projected period in Europe. Europe's pharmaceutical industry, which is centered on research, is a major economic asset. Due to advancements in medical research and development, and the launch of new medications targeted at enhancing the health and standard of living of patients in the area, the pharmaceutical glass packaging business is seeing growth. The national regulations that drive down prices and profits and split the market are expected to play a significant role in differentiating the capabilities of the European research-based pharmaceutical industry from those of its American equivalents.
Leading players such as Corning Incorporated, Nipro Corporation, SGD S.A., Stoelzle Oberglas GmbH, Bormioli Pharma S.p.A., and others significantly contribute to the market's expansion with their creative solutions, wide range of products, and robust market positioning. These businesses make significant investments in R&D to bring cutting-edge glass packaging solutions that meet the changing demands of the pharmaceutical sector. To provide the best possible protection and preservation of pharmaceutical items, they are constantly improving the barrier qualities, robustness, and design of their glass containers. Additionally, these businesses concentrate on offering a broad range of customization choices, including various sizes, shapes, closures, and labeling options, to satisfy the particular needs of pharmaceutical enterprises.
June 2023: At its vial manufacturing facility in Holzminden, Muller & Muller, a producer of main packaging materials made of tubular glass for the pharmaceutical industry, has spent 15 million EUR. Up to 14 new production lines and a matching clean room are part of the investment.
June 2023: In Telangana, India, Corning and SGD Pharma jointly inaugurate a new glass tubing factory and increase access to Corning Velocity Vial technology. Velocity Vials are anticipated to be manufactured at SGD Pharma's plant in Vemula, India, starting in 2024. The production of pharmaceutical tubing is anticipated to start in 2025.
March 2023: To fulfill the growing demand for FIOLAX(R)amber pharma glass in Asia, Schott AG began producing the product in India. Pharmaceutical converters will now be more dependable, well-planned, readily available, and economically efficient thanks to this manufacturer.
GLOBAL PHARMACEUTICAL GLASS PACKAGING MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Corning Incorporated
Nipro Corporation
Gerresheimer AG
SGD S.A.
Stoelzle Oberglas GmbH
Bormioli Pharma S.p.A.
West Pharmaceutical Services, Inc.
Beatson Clark
Ardagh Group S.A
Schott AG
Arab Pharmaceutical Glass Co.
Piramal Enterprises Ltd.
Sisecam Group
Shandong Medicinal Glass Co., Ltd.
Owens-Illinois, Inc.
DWK Life sciences
Others