Pharmaceutical Glass Packaging Market Growth & Trends
The global pharmaceutical glass packaging market size is expected to reach USD 7.46 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.8% from 2021 to 2028. The demand for pharmaceutical glass packaging is projected to be driven by the growth of the pharmaceutical industry in emerging economies, especially in the Asia Pacific region.
The cost sensitivity in the healthcare sector and the growing significance of biotech drugs have resulted in the establishment of stringent regulations related to drug delivery products. Many pharmaceutical drugs manufacturing companies are focused on increasing the shelf life of a drug and are therefore making investments in the research and development of glass vials. The newly developed products are expected to aid the growth of glass vials due to the expansive number of applications.
The generic drug type segment is expected to witness the fastest growth in terms of revenue as well as volume over the forecast period. This is due to the significant increase in the volume of generics in the country, which is estimated to face a rapid change in the market dynamics primarily due to the increased competitive intensity and customer consolidation.
Glass packaging is highly preferred in the pharmaceutical industry as it is easy to sterilize with heat and does not react with most of the drugs and medicines being chemically inert. The colored glass packaging can protect the medicines from different wavelengths, including UV rays of the sun. Additionally, glass is easily available all over the world and can be recycled, which has made it an ideal material for the packaging of pharmaceutical products.
The market in North America is expected to witness steady growth in the years to come on account of global key players present in the region. With the rising volume of generic drugs, glass packaging has been increasingly adopted owing to the preexisting established supply chain. The recent outbreak of COVID-19 has positively impacted the market growth due to the growing use of pharmaceutical glass packaging in the packaging of immunity-boosting drugs.
Companies in the pharmaceutical glass packaging industry have been trying to improve product strength to reduce breakage during the filling of vials. In September 2019, Corning Inc. got approval from the FDA to market its Corning Valor Glass, which enables superior chemical durability and improves resistance to breakage, damage, and particulate contamination.
For instance, Gerresheimer AG, a key German-based pharma glass packaging manufacturer, has developed a metal-free 1 ml Gx RTF long Luer Lock syringe. This particular syringe uses a new technology in which the pin used to shape the cone is made of a special ceramic material instead of the conventional tungsten or alternative metal.
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Pharmaceutical Glass Packaging Market Report Highlights
- In terms of revenue, the generic drug type segment led the market and accounted for a 71.2% share in 2020. Distrust in the quality of unbranded generic medicines by physicians/patients, high out-of-pocket patient spending for drug purchases, and insufficient government promotion of unbranded generics are likely to promote the use of branded generic drugs over the coming years
- The ampoules product segment accounted for the largest volume share of 74.7% in 2020. Glass ampoules have been widely used in packaging injection drugs. Ampoules are one of the most used glass-based primary packaging for injectables, and their growth is clearly being seen in the cost-sensitive markets of emerging nations
- Glass delamination has been a growing concern and has been emphasized by the FDA for better compatibility testing of containers and drugs. The development of glass vials by pharma packaging manufacturers that reduce the chances of delamination and breakage is estimated to result in the continuation of the trend of glass vials occupying a major market share over the coming years
Access Press Release@ https://www.grandviewresearch.com/press-release/global-pharmaceutical-glass-packaging-market
Pharmaceutical Glass Packaging Market Segmentation
Grand View Research has segmented the global pharmaceutical glass packaging market on the basis of product, drug type, and region:
Pharmaceutical Glass Packaging Product Outlook (Volume, Million Units; Revenue, USD Million, 2017 - 2028)
- Vials
- Small Vials
- Large Vials
- Bottles
- Small Bottles
- Large Bottles
- Cartridges & Syringes
- Ampoules
Pharmaceutical Glass Packaging Drug Type Outlook (Volume, Million Units; Revenue, USD Million, 2017 - 2028)
- Generic
- Branded
- Biologic
Pharmaceutical Glass Packaging Regional Outlook (Volume, Million Units; Revenue, USD Million, 2017 - 2028)
- North America
- US.
- Canada
- Mexico
- Europe
- UK.
- Germany
- France
- Italy
- Spain
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Central & South America
- Brazil
- Middle East & Africa (MEA)
- Saudi Arabia
List of Key Players of Pharmaceutical Glass Packaging Market
- Corning Incorporated
- Nipro Corporation
- SGD S.A.
- Stölzle-Oberglas GmbH
- Bormioli Pharma S.r.l
- West Pharmaceutical Services, Inc.
- Schott AG
- Gerresheimer AG
- Shandong Medicinal Glass Co., Ltd.
- Beatson Clark
- Ardagh Group S.A.
- Arab Pharmaceutical Glass Co.
- Piramal Enterprises Ltd.
- Şişecam Group
- Owens-Illinois, Inc.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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