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Pharmaceutical Glass Packaging Market will worth USD 37.2 billion by 2030 : GreyViews

Pune India, Jan. 14, 2023 (GLOBE NEWSWIRE) — The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the pharmaceutical glass packaging market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the pharmaceutical glass packaging market are present across various countries in the above-mentioned regions.

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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the type, application, and regions. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global pharmaceutical glass packaging market Corning Incorporated SGD S.A., Nipro Corporation, Bormioli Pharma S.r.l, Schott AG, Shandong Medicinal Glass Co., Ltd., Ardagh Group S.A, Stölzle-Oberglas GmbH, West Pharmaceutical Services, Inc., Arab Pharmaceutical Glass Co., Owens-Illinois, Inc., Şişecam Group, Gerresheimer AG, Beat son Clark, Piramal Enterprises Ltd. among others. To achieve a substantial market share in the worldwide pharmaceutical glass packaging market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Pharmaceutical glass packaging shields the product from physical harm avoid biological contamination and lessens the susceptibility of the medication to breakdown processes including hydrolysis and oxidation. As a result, the growing pharmaceutical business serves as the main driver of market expansion. The demand for the product is also being boosted by the expanding requirement to increase the shelf life of pharmaceuticals as well as the increased use of generic medications and injectables. In addition, the market is being stimulated by the widespread occurrence of chronic diseases like diabetes, rising healthcare awareness among the populace, and rising income levels. Additionally, many nations’ governments are taking positive steps to promote the use of recycled glass to lessen carbon emissions and provide a safer and greener environment. Global health awareness is growing, which has opened up the new market potential for pharmaceutical glass packaging. Government agencies in developing nations are making efforts 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 of new glass kinds. Since boron-free glass has been made available, the market for pharmaceutical glass packaging is anticipated to open up new opportunities. A new wave of opportunities for the pharmaceutical glass packaging market may result from the use of innovative technologies to enhance the process of pharmaceutical glass packaging.

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Scope of Pharmaceutical Glass Packaging Market Report:

Report Metric Information
Study Period 2022-2030
Base Year           2022
Forecast Period 2023-2030
Market Share Unit USD Billion
Segments Covered Product, Drug Type, and Regions.
Regions Covered North America, Europe, Asia-Pacific, South America, and Middle-East and Africa
Major Players Corning Incorporated SGD S.A.,  Nipro Corporation, Bormioli Pharma S.r.l, Schott AG, Shandong Medicinal Glass Co., Ltd., Ardagh Group S.A, Stölzle-Oberglas GmbH, West Pharmaceutical Services, Inc., Arab Pharmaceutical Glass Co., Owens-Illinois, Inc., Şişecam Group, Gerresheimer AG, Beat son Clark, Piramal Enterprises Ltd. among others

Segmentation Analysis

Vials are expected to be the fastest-growing segment in 2022. 

The product segment is bottles, vials, cartridges & syringes, and ampoules. Vials are anticipated to dominate the market segment with the second-fastest growth rate after ampoules due to their strong analytical performance and excellent sustainability. As a result, from 33.2% in 2021, the vials segment is anticipated to see an increase in market share during the forecast period. Glass vials are made of Type 1 borosilicate glass, which gives them the desired chemical resistance qualities.

Generic segment is expected to be the fastest-growing segment in 2022. 

The drug type segment is branded, biologic and generic. Generic segment is expected to be the fastest-growing segment in 2022. Due to an ageing population, an increase in chronic disease cases, and an increase in drug patent expirations, the need for generic medications has increased on a global scale during the past several years. Additionally, it is projected that attempts by governments and healthcare providers to cut healthcare spending, prescription costs, and coverage costs will increase the use of generic medications. Given its regulatory simplicity and exceptional barrier properties, pharmaceutical glass packaging is projected to see an increase in demand as generic drug use rises.

Regional Analysis           

The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the pharmaceutical glass packaging market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.

The North American region witnessed a major share. In the approaching years, the pharmaceutical business is anticipated to spend more than ever in developing markets. With innovative products driving growth, it is anticipated that the United States will continue to be a major force and the region’s most important market for the pharmaceutical industry. The increase of generics in the area, which are likely to see consistently high demand in terms of volume and sales, is expected to support this expansion.

Country Analysis

Germany’s pharmaceutical glass packaging market size was valued at USD 0.14 billion in 2022 and is expected to reach USD 0.17 billion by 2030, at a CAGR of 2.7% from 2023 to 2030. One of the main strengths of the European economy is the research-based pharmaceutical sector. The growth of medical advances through research, development, and the introduction of new medications aimed at enhancing the health and quality of life of people in the area has led to an increase in the pharmaceutical glass packaging sector. In the pharmaceutical industry, it is anticipated that a key factor separating the strengths of the European research-based industry from its American counterparts will be the national regulation that suppresses prices and profits and fragments the market.

China’s pharmaceutical glass packaging market size was valued at USD 0.25 billion in 2022 and is expected to reach USD 0.33 billion by 2030, at a CAGR of 3.7% from 2023 to 2030. In nations like China, the market for glass packaging for pharmaceuticals has demonstrated exceptional penetration. The penetration of pharmaceutical glass packaging is rising in developed nations due to increasing usage. Opportunities are being created for the China pharmaceutical glass packaging market by the expanding healthcare and pharmaceutical industries in emerging nations as a result of COVID-19.

India’s pharmaceutical glass packaging market size was valued at USD 0.22 billion in 2022 and is expected to reach USD 0.28 billion by 2030, at a CAGR of 3.3% from 2023 to 2030. The market is driven by rising health consciousness and the adoption of novel methods for storing liquid medications. Manufacturing of pharmaceutical glass packaging benefits from the rising need for ready-to-use glass vials.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.

Furthermore, the growth of this market is mainly driven owing to the increase in demand and rising health awareness is expected to propel the growth of the market across the countries.

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