Pharmaceutical Glass Packaging Market Insights and Industry Analysis By Product (Vials, Bottles & Jars, Cartridges & Syringes, and Ampoules), Material (Type I, Type II, and Type III), Application (Generic Drugs, Branded Drugs, and Biological Drugs) And Region, Competitive Market Size, Share, Trends, and Forecast to 2030
New York, USA, Nov. 10, 2022 (GLOBE NEWSWIRE) -- Pharmaceutical Glass Packaging Market Overview Diamond Drill Bit Oil Rig
According to a Comprehensive Research Report by Market Research Future (MRFR), “Pharmaceutical Glass Packaging Market Information By Product, Material, Application, And Region - Forecast till 2030”, the market is estimated to grow at a 8.5% CAGR to reach USD 8.57 Billion by 2030.
The market is expected to be driven by the widespread use of generic injectable medications and strong demand from the health industry. Glass creates a barrier that prevents atmospheric gases like carbon dioxide and oxygen from getting into the main container, reducing the chance of drug contamination. The medicine is less susceptible to oxidation and hydrolysis when packaged in glass. Glass packaging also aids in preventing the release of volatile chemicals, improving the stability of the medicine. It is projected that all of these variables will increase product demand shortly. Due to the extensive use of generic injectable medications and the significant demand from the pharmaceutical industry, there is likely to be an increase in demand for pharmaceutical glass packaging.
Additionally, it is anticipated that the rise in the rate of generic medicine consumption and the expansion of healthcare access will affect the development of pharmaceutical glass packaging throughout the projection period. The packaging of pharmaceuticals is frequently done with glass bottles utilized by the industry. Pharmaceutical glass bottles are frequently filled in high-speed lines; thus, they must be manufactured to strict tolerance standards. Given that Glass has significantly fewer negative effects on people and the environment than polyethylene terephthalate (PET), which is now the most popular packaging material, Glass is being looked at as a potential replacement.
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Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
By Product, Material, Application, And Region
North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Extending the shelf life of products gives the manufacturers more time to transport and sell the products.
There have been continuous technological advancements in manufacturing glass packaging solutions to meet government regulations.
The key contenders in the pharmaceutical glass packaging market are:
Bormioli Pharma S.p.A (Italy)
West Pharmaceutical Services Inc. (US)
Market U.S.P. Covered:
Due to the industry's sluggish expansion in emerging nations due to the low to the moderate need for pharmaceutical products, the growth of the global pharmaceutical market significantly decreased. This was especially evident in the case of the United States, which has the world's biggest and most significant pharmaceutical market. In the market, injectable drug sales were significantly impacted. However, it is projected that the market will have prospects due to the economy's increasing reliance on generic medications and the availability of better healthcare services. In addition to the factors mentioned above, the market for pharmaceutical glass packaging is expected to experience strong demand due to the rise in environmental issues about plastic and the expansion of R&D activities in this area. It is also anticipated that this market will expand significantly over the forecast period.
Strict regulations regarding drug delivery products have been established due to the increasing significance of biotech and cost-sensitive medications in the healthcare industry. Vials are becoming more popular with producers in the pharmaceutical Glass manufacturing industry, concentrating on packaging designed to lengthen a product's shelf life. Global health awareness is growing, which has opened up the new market potential for pharmaceutical glass packaging.
The rising demand for plastic packaging is expected to impede the expansion of the pharmaceutical glass packaging market. The main element that could lower the requirement for glass packaging in the pharmaceutical industry is the existence of alternate substitutes. The most common alternative material for packaging is plastic. Many pharmaceutical medications are already packaged in plastic bottles and jars due to safety and lighter weight advantages.
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The market was originally badly impacted by the spread of COVID-19 due to supply chain problems brought on by delayed production around the globe. Later on, though, the situation altered. Government agencies in developing nations are trying to build healthcare systems, which could result in more prospects for the market for pharmaceutical glass packaging. High demand for glass packaging could result from the development new glass kinds. A new route in the pharmaceutical industry is anticipated to be supported by the introduction of boron-free Glass.
By application, the market includes branded drugs, generic drugs, and biological drugs. By product, the market includes vials, cartridges & syringes, bottles & jars, and ampoules. The market includes type I, type II, and type III by material.
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North America is one of the main locations for the pharmaceutical glass packaging market. The region has seen significant investments in research and product innovation in terms of glass packaging. The region's demand for pharmaceutical glass packaging is driven by the US and Canada's strict laws and regulations, the rise in drug use, and the quick expansion of the pharmaceutical industry. In North America, the US dominated the pharmaceutical glass packaging market. The pharmaceutical glass packaging market is expanding quickly in the US. The pharmaceutical industry's glass packaging needs keep rising as the pharmaceutical market expands. The country's market for pharmaceutical glass packaging is expanding due to rising healthcare spending.
The main market contributors in the region are China, Japan, and India. China is the dominant nation in the area. However, India's pharmaceutical glass packaging market is expanding rapidly, largely due to growing demand for healthcare facilities and drug demand. In terms of market size, Europe ranked third for pharmaceutical glass packaging. The main factors driving the market expansion in these nations are an increase in consumer demand for medications and other drugs and an increase in healthcare knowledge. The Middle East and Africa are expected to experience rapid market growth due to rising per capita disposable income, rising healthcare awareness, and rising drug and medication consumption.
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