Pharmaceutical Glass Packaging Market | Overview and Analysis by Top Manufacturers, Share, Regional Demand With Growth Forecast 2030
Research Reports
Sep 21, 2022
In 2020, the global pharmaceutical glass packaging market was expected to be worth approximately USD 8.57 billion. The market is expected to grow at a CAGR of 8.5% between 2021 and 2030, reaching a value of approximately USD 7.6 billion by 2020.
The Glass Pharmaceutical Packaging industry thrives due to numerous important clinical drugs and other services. Packaging is critical in this industry for protecting medicines. Because of their exceptional benefits, glass medicines are gaining popularity. This glass package protects the medicines by reducing contamination and other damage. This package is gaining popularity in many pharmacies by preventing hydrolysis and oxidation. The growing importance of biotech medicines is driving up market demand. Furthermore, strict government regulations increase the rate of adoption.
The outbreak of covid 19 is a critical factor contributing to the growth of this market. Vaccines and other virus-treating drugs are packaged in pharmaceutical glass. All these factors have made a great impact on the market expansion. The Covid-19 pandemic’s impact on pharmaceutical manufacturing is the steadily increasing demand for medications and additional healthcare amenities. The surge in demand for pharmaceuticals caused by the pandemic has undoubtedly influenced market development. The demand for Covid-19 vaccines, built up by various companies and establishments in various countries, is likely to reach a new high.
Furthermore, the glass packaging increases the shelf life of the products. Pharmaceutical drugs and medicines will be in high demand in the coming years. This will contribute significantly to the massive sale of pharmaceutical glass packaging. The market for injectable medicines is experiencing the highest demand. This glass packaging also keeps carbon dioxide out of the package. External factors can cause medicines to degrade.
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Market segmentation:
The global pharmaceutical glass packaging market has been divided into three sections: product type, material type, and application.
The global pharmaceutical glass packaging market comprises four product categories: bottles, vials, jars, syringes, cartridges, and ampoules.
The pharmaceutical glass packaging market has been divided into three categories based on material type: type I, type II, and type III.
The pharmaceutical glass packaging market is divided into three applications: branded, generic, and biological.
Regional analysis:
The Global Pharmaceutical Glass Packaging Market is divided into four regions: North America, Europe, Asia Pacific, and the Rest of the World. North America dominates the global Pharmaceutical Glass Packaging Market by region. The market’s expansion is due to the region’s rapidly expanding pharmaceutical industries. This region has seen many technological advances, an increase in infectious diseases, and increased spending on health care units.
Due to rising population volumes in the region’s emerging economies, the Asia Pacific region is expected to be the fastest-growing segment during the forecast period. Europe accounts for more than a quarter of the total market. It identifies the requirement for pharmaceutical packaging. Government programmes such as PRIME, which provides priority medicines, are expected to benefit the pharmaceutical industry.
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Key Players
some of the other prominent players operating in the pharmaceutical glass packaging marke are Schott AG (Germany), Nipro Corporation (Japan), Piramal Glass(Mumbai), Sisecam Group(Tuzla, TR), Owens-Illinois Inc. (US), being the leading players, held a significant share of the global market in 2019.Gerresheimer AG (Germany), SGD Pharma (France), Bormioli Pharma S.p.A (Italy), Ardagh Group S.A.(Luxembourg), West Pharmaceutical Services Inc. (US), and StoelzleOberglasGmbh (Austria)
Recent developments:
- On February 20, 2022, Bormioli Pharma announced a partnership with other companies in this market. This collaboration will benefit pharmaceutical applications and glass packaging products. The company conducts extensive research to improve bottle resistance and packaging quality. This company’s goal is to reduce the carbon footprint of the package.
- In May 2021, Nirpo Corporation was a pharmaceutical company that partnered with AstraZeneca. Both companies are collaborating on vaccine production. They also produce a large number of vaccines for Japan.
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