Glass packaging is a most important packaging material for pharmaceutical industry that restricts the alkalinity & hydrolytic resistance of glass container. Its elevated transparency allows easy inspection of its contents. It provides better protection as its relative impermeability to air & moisture. Glass is a chemically resistant to most medicinal products. In addition, colored glass such as, red colored glass and amber glass can protect its contents from ultraviolet rays & certain wavelengths. Glass containers are simply sterilized by heat that makes them an ideal material for the pharmaceutical packaging.
According to study, “Global Pharmaceutical glass packaging Market to reach USD 26.6 billion by 2027” the key companies operating in the global pharmaceutical glass packaging market are Corning Incorporated, Nipro Corporation, Gerresheimer AG, Schott AG, SGD Pharma, Stevanato Group S.p.A., Shandong Pharmaceutical Glass Co., Ltd., Bormioli Rocco Pharma, Piramal Glass, Ardagh Group, Şişecam Group, Beatson Clark, Stölzle-Oberglas Gmbh, and Arab Pharmaceutical Glass Co Ltd. Key manufacturers are constantly determined to offer an extensive range of technologies covering as much of the value chain as possible.
On the basis of product type, pharmaceutical glass packaging market is segmented as vials, bottles, cartridges & syringes and ampoules. The vials segment is further sub-segmented as small (30 ml). The segment is expected to witness higher CAGR owing to owing to its better suitability and analytical performance over the forecast period. Moreover, bottles segment is further sub-segmented as small bottle (1000). Small-size bottles are used for storing oral tablets, which is estimated to create growth opportunities during the forecast period. In addition, on the basis of drug type, market is segmented as branded, generic and biologic. Generic drugs segment holds major share in market due to rise in the expiration of drug patents, growth in aging population, and rise in incidence of chronic diseases.
The pharmaceutical glass packaging market is driven by rise in access to health care, followed by increase in rate of consumption of generic drugs and growth of the pharmaceutical industry in emerging economies. However, increase in relevance of alternate material and rise in demand for alternative materials like plastics & its polymer may impact the market.
Based on geography, the North-American region dominates the global pharmaceutical glass packaging market owing to growth in technical advancements, rise in demand for pharmaceutical products, surge in awareness about the benefits of using glass packaging for the pharmaceutical products coupled with improved healthcare facilities in the region. Whereas, the European and Asian-Pacific regions are likely to exhibit considerable growth due to increase in prevalence of chronic diseases in these countries during the forecast period. It is estimated that future of the global market will be bright as a result of increase in public or private healthcare coverage by government over the forecast period. The global pharmaceutical glass packaging market is valued around at US $15.2 billion in 2019 and is projected to grow with a healthy growth rate of more than 6.4% during the forecast period 2020-2027.
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Global Pharmaceutical Glass Packaging Market
Related Report:-
Global Pharmaceutical Glass Packaging Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2025
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