Pharmaceutical Glass Packaging Market Estimated To Experience a Hike in Growth By 2026

February 1, 2021 Latest Updates0

Albany, New York : Glass is composed of sand, soda ash cullet, and limestone. The composition of these ingredients varies based on the application of the glass. Glass is very versatile and attractive. It can be molded into many shapes, sizes, and colors. Glass is suitable for sterilization and has excellent barrier properties and can be colored to improve light sensitive. Glass packaging preserves the product’s properties such as taste and flavor and protects its contents. Glass is the only material which is widely used as generally recognized as safe (GRAS) by the U.S. Food & Drug Administration.

In the pharmaceutical industry, glass containers for drugs are available in clean flint or amber color. Borosilicate glasses vitals & ampoules are used for sensitive pharmaceuticals such as blood products and parenteral drugs.

Increase in rate of consumption of generic drugs and rise in access to health care are driving the pharmaceutical glass packaging market. However, glass packaging problems, such as breakage, delamination, and particulate contamination, is increasing the competition of plastic. This, in turn, is likely to restrain the market.

Pharmaceutical Glass Packaging Market: Segmentation

Based on product type, the pharmaceutical glass packaging market can be segmented into vials, cartridges & syringes, bottles, and ampoules. The vials segment can be further sub-segmented into small (<30 ml) and large (>30 ml) in terms of volume. Vials are mostly employed for collecting biological samples in the pharmaceutical industry. The vials segment is anticipated to expand at rapid pace during forecast period. The bottles segment can be sub-divided into small (<1000ml) and large (>1000). In terms of revenue, the bottles segment accounted for a major share of the market in 2017. In 2016, Gerresheimer AG introduced Gx RTF vials using its patented Ompi EZ-Fill packaging technology. In terms of drug type, the pharmaceutical glass packaging market can be divided into branded, generic, and biologic.  

Pharmaceutical Glass Packaging Market: Region

Based on region, the global pharmaceutical glass packaging market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In terms of consumption, North America accounted for a major share of the pharmaceutical glass packaging market in 2017. This trend is anticipated to continue during the forecast period. The U.S. is the largest pharmaceutical market in the world. This is anticipated to create lucrative opportunities for companies operating in the pharmaceutical glass packaging market in the country. Europe is estimated to account for large share of the pharmaceutical glass packaging market between 2018 and 2026. In terms of sales, the pharmaceutical glass packaging market in Europe accounted for more than 20% share of the global pharmaceutical market in 2017 which signifies the need for pharmaceutical packaging. Government schemes such as PRIME which supplies Priority Medicine by increasing the support for medicines is expected to be beneficial for the pharmaceutical industry. Asia Pacific is projected to be a promising pharmaceutical glass packaging market during forecast period. Expansion of the medical & pharmaceutical industry in countries such as China, India, Japan, and South Korea due to increasing population and rise in health care infrastructure is projected to boost the pharmaceutical glass packaging market. Surge in disposable income primarily in the middle-class population is resulting in the growth of manufacturing sector thus aiding the pharmaceutical glass packaging market in Asia Pacific during the forecast period. The pharmaceutical glass packaging market in Latin America and Middle East & Africa is likely to expand at a sluggish pace during the forecast period.

Pharmaceutical Glass Packaging Market: Key Players

Large number of companies operate in the global pharmaceutical glass packaging market. Numerous regional and local traders, distributors, and importers supply pharmaceutical glass packaging to end-users. Key players operating in the global pharmaceutical glass packaging market include Corning Inc., SCHOTT AG, GERRESHEIMERE, Stevanato Group S.p.A., West Pharmaceutical Services, Inc., and Stölzle-Oberglas GmbH. 

Source : https://www.transparencymarketresearch.com/pharmaceutical-glass-packaging-market.html

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