ID: MRFR/PNT/3741-CR | August 2021 | Region: Global | 172 pages
Pharmaceutical Glass Packaging Market is expected to grow USD 8.57 Billion at a CAGR of 8.5% during the forecast period, says market research future (MRFR). The market is expected to be driven by widespread use of generic injectable medications and rising demand from the pharmaceutical sector. Glass acts as a barrier, preventing atmospheric gases such as carbon dioxide and oxygen from entering the primary container, hence reducing the chance of medication contamination. Glass packing protects the medicine from breakdown processes such as hydrolysis and oxidation. Additionally, glass packaging helps to prevent volatile components from escaping, thereby boosting the drug's stability. All of these variables are expected to contribute to an increase in product demand in the near future.
Due to the increasing importance of cost-sensitive and biotech medications in the healthcare sector, strict regulations governing drug delivery products have been established. Numerous producers in the pharmaceutical glass manufacturing market are concentrating their efforts on packaging that extends the shelf life of a product, and as a result, are investing in vials.
Pharmaceutical glass packaging developers have been expanding their manufacturing capabilities to meet the shifting pharmaceutical industry's projected shift toward biologics. Additional to the impact of the COVID-19 pandemic, the pharmaceutical business is facing an ever-increasing demand for medications and other healthcare services. The pandemic's spike in demand for pharmaceutical drugs has benefited the market's expansion. The demand for COVID-19 vaccines developed by numerous universities and firms in several countries is likely to reach a new high following their approval.
The growing demand for packaging from the pharmaceutical industry has been influential in fueling the overall growth of the pharmaceutical glass packaging market.The need for extending the shelf life of pharmaceutical products and technological advancements in pharmaceutical packaging will spur market growth. The global market for pharmaceutical glass packaging has been segmented based on product type, material type, application, and region.
Based on product, the global pharmaceutical glass packaging market has been segmented into vials, bottles & jars, cartridges & syringes, and ampoules. The ampoules segment is expected to grow at a faster rate during the forecast period. In 2019, the bottles & jars segment held a share of 30.90% of the global pharmaceutical glass packaging market. It is projected to register a notable CAGR during the projected timeframe.
By material type, the pharmaceutical glass packaging market has been classified into type I, type II, and type III. The type II segment is projected to grow at the fastest rate during the forecast period. In 2019, the type III segment held a 67.49% share of the global pharmaceutical glass packaging market. It is projected to register a significant over the study period.
By application, the pharmaceutical glass packaging market has been segmented into generic drugs, branded drugs, and biological drugs. The generic drugs segment is projected to grow at the fastest rate during the forecast period. In 2019, the generic drugs segment held a 71.41% share of the global pharmaceutical glass packaging market. It is projected to witness a lucrative growth rate over the study period.
By region, the pharmaceutical glass packaging market is segmented into North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.
Global Pharmaceutical Glass Packaging Market, Based on Region, 2019
Source: MRFR analysis
North America is one of the prominent regions for the pharmaceutical glass packaging market. The region has witnessed increased investments in R&D and product innovation as far as glass packaging is concerned. Stringent regulations and policies in the US and Canada, increased consumption of drugs, and rapid growth of the pharmaceutical sector are the factors driving the demand for pharmaceutical glass packaging in the region. The US dominated the pharmaceutical glass packaging market in North America.
In the US, the pharmaceutical glass packaging industry is witnessing rapid growth. With the expanding market for drugs, the demand for glass packaging increases continuously in the pharmaceutical industry. Growing healthcare spending isboosting the growth of the pharmaceutical glass packaging market in the country.
The Asia-Pacific pharmaceutical glass packaging market is projected to register a 7.32% CAGR during the forecast period.China, Japan, and India are the key contributors to the regional market. China is the leading country in the region. However, India is witnessing tremendous growth in the pharmaceutical glass packaging market, mainly due to factors such as growing demand for healthcare centers and rising demand for drugs.
Europe was the third-largest region in the pharmaceutical glass packaging market in 2019, accounting for a 22.35% market share.Germany and the UK are the prominent countries in the pharmaceutical glass packaging market in Europe. An increase in healthcare awareness and a rise in demand for medicines and other drugs among consumers are the key factors driving the growth of the pharmaceutical glass packaging market in these countries.
The pharmaceutical glass packaging market in the Middle East & Africa is projected to grow at a notable pace, mainly due to increasing per capita disposable income among individuals, growing healthcare awareness among individuals, and growing consumption of medicines and drugs.The UAE is one of the most prominent countries for the pharmaceutical glass packaging marketin the Middle East.Furthermore, generic drugs comprise nearly 50% of the overall pharmaceutical market in South Africa, leading to an increase in the demand for glass packaging for different types of drugs and medicines in the country.
In Latin America, the pharmaceutical industry is growing at a decent pace, mainly due to an increasing number of people diagnosed with various diseases. Moreover, the consumption of medicinal drugs and the demand for medical and healthcare centers are increasing considerably in Brazil, Argentina, Chile, and Colombia.
The global pharmaceutical glass packaging market has been segmented based on type, material, application, and region.The global market is mainly driven by various factors such as extending the shelf life of products, technical developments in the growth of pharmaceutical glass packaging, and the increasing demand from the pharmaceutical industry.
The growth of the pharmaceutical glass packaging market is anticipated to be hindered by the growing demand for plastic packaging.
The availability of other alternatives is the key factor that may reduce the demand for glass packaging in the pharmaceutical industry. Plastic is the primary alternative material used for packaging solutions. Currently, plastic bottles & jars are widely preferred for packaging several pharmaceutical products due to factors such as safety and reduced weight.
Glass and plastic are both recyclable. However, the former has its own set of limitations, as it can only be recycled back into glass. Plastic loses its integrity and, as a result, can be recycled to manufacture a wide range of products such as plastic lumber, carpet filling, and foam packaging, among others, thus lowering the demand for glass packaging to a certain extent.
The increasing demand for pharmaceutical glass packaging in emerging economies is expected to present growth opportunities for the players operating in the global pharmaceutical glass packaging market during the forecast period.
The success of the market vendors depends on the market conditions, government support, and industry development. Thus, they must focus on improving their products and expanding their regional presence. 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) are some of the other prominent players operating in the pharmaceutical glass packaging market.
The leading players, as mentioned above, are dominating the market due to their diverse product offerings, vast industry experience, and wide geographic reach. These players may strengthen their presence worldwide through expansions and acquisitions during the forecast period. With access to better technologies, players can develop unique and innovative products and services, rendering their competitors’ offerings obsolete. The competitive environment in the global market is likely to intensify further due to the increasing number of expansions.
February 2022: Bormioli Pharma announced a series of collaborations aimed at enhancing the performance and sustainability of glass used in pharmaceutical applications, including a research program aimed at strengthening bottles' resistance to chemical contents and lowering the carbon footprint of glass production.
|Market Size||2030: USD 8.57 Billion|
|CAGR||8.5% CAGR (2022-2030)|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Form, End-and Region - Forecast till 2026|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Gerresheimer AG (Germany), Nipro Corporation (Japan), SCHOTT Pharmaceutical Packaging (U.S.), SGD Pharma (France), Shandong Qidu Pharmaceutical Co.,Ltd. (China), Bormioli Rocco SpA (Italy), Ardagh Group S.A. (Luxembourg), West Pharmaceutical Services, Inc. (U.S.), Piramal Glass (India), and Stölzle-Oberglas Gmbh (Austria)|
|Key Market Opportunities||High transparency allows easy inspection of its contents|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The market can attain a growth rate of more than 8.5% in the coming years.
The global Pharmaceutical Glass Packaging Market is projected to reach USD 8.57 Billion by 2027, given the technological advancements in the field combined with the continuous government initiatives among others.
The significant companies in the worldwide market are Stölzle-Oberglas Gmbh (Austria), Gerresheimer AG (Germany), Ardagh Group S.A. (Luxembourg), Shandong Qidu Pharmaceutical Co.,Ltd. (China), Nipro Corporation (Japan), West Pharmaceutical Services, Inc. (U.S.), Piramal Glass (India), Bormioli Rocco SpA (Italy), SCHOTT Pharmaceutical Packaging (U.S.), SGD Pharma (France), to name a few.
The top restraining factor in the market is the tough competition given to pharmaceutical glass packaging from the available substitutes.
One of the chief advantages of glass packaging includes the inert nature of glass that does not react with the contents any time.