The global pharmaceutical
glass packaging market Report
is set to gain momentum from the increasing development
of new types of glasses owing to the high demand from the pharmaceutical
industry. This information is given by Fortune Business Insights™ in a new
study, titled, “Pharmaceutical Glass Packaging Market Size, Share &
Industry Analysis, By Product (Vials & Ampoules, Bottles, Cartridges, and
Syringes), By Drug Type (Generic, Branded, and Biologic), and Regional
Forecast, 2020-2027.” The study further mentions that the pharmaceutical glass
packaging market size was USD 6.31 billion in 2019 and is projected to reach
USD 10.76 billion by 2027, exhibiting a CAGR of 6.3% during the forecast period.
Surging Demand for Drugs Associated with COVID-19 to Affect Growth
Positively
The COVID-19 pandemic has severely
affected a large number of industries worldwide. But, the pharmaceutical
industry was least impacted as governments of various countries declared it to
be essential. Many pharmaceutical glass packaging manufacturers are experiencing
high demand forCOVID-19-related products. Hence, they are implementing novel
technologies to automate their operations. Our research reports will help you
better understand the current scenario of the market so that you can adopt the
right strategy.
How Did We Create This Report?
As customer expectations are
changing, the aspirations of dealers are also transforming rapidly.
Distribution channels are becoming complex. To provide our clients with
detailed information, we have conducted extensive primary and secondary
research. We have thoroughly investigatedeach opportunityqualitatively and quantitatively
so that our clients get a complete picture of both emerging and existing
opportunities in the market forpharmaceutical glass packaging. We have also
conducted a techno-economic study.
Drivers & Restraints-
Rising Awareness of Health to Favor Growth
The pharmaceutical industry is
expanding rapidly across the globe. The rising expenditure on public healthcare
systems, increasing awareness of health, and astonishingly surging population
are the prime factors for the pharmaceutical glass packaging market growth in
the upcoming years. However, the industry is making more usage of plastic
packaging nowadays backed by its impact resistance, cost effectiveness, easy
molding, and flexibility properties. It may lower the demand for pharmaceutical
glass packaging.
Segment-
CartridgesSegment to Grow Steadily Fueled by High Demand for Self-administered
Injectables
Based on the product, the
cartridges segment generated 11.0% in terms of the pharmaceutical glass
packaging market share in 2019. This growth is attributable to the increasing
demand for multi-dosage and self-administeredinjectables. The bottles segment
is expected to remain at the forefront stoked by the rising preference for such
pharmaceutical glass packagingas they can contain ophthalmic products, syrups,
capsules, and tablets.
Regional Insights-
Increasing Spending on Healthcare to Help North America Remain at the
Forefront
Geographically, North America
procured USD 2.12 billion in 2019 in terms of revenue. The ongoing expansion of
the pharmaceutical industry would propel the regional growth. Besides, the increasing
prevalence of various diseases, as well as surging spending on healthcare is
likely to propel growth.
Europe, on the other hand, is projected
to remain in the second position throughout the forthcoming years on account of
the rising government guidelines for controlling the transmission of COVID-19.
Italy, Germany, and the U.K. are considered to be the main contributors to this
growth. In Latin America, governments are implementing new policies, such as favorable
tariff protection. Coupled with this, the increasing geriatric population would
accelerate the demand forpharmaceutical glass packaging.
Competitive Landscape-
Key Players Focus on Launching Innovative Packaging Solutions to Strengthen
Their Positions
The global market for pharmaceutical
glass packaging houses multiple reputed companies that are presently focusing
on developing unique products to cater to the high demand worldwide. Also, the
COVID-19 pandemic has resulted in the high demand for robust packaging. Below
is one of the latest industry developments:
·
March 2019
:SCHOTTunveiledEVERIC™,
new generation of ultra-pure pharmaceutical vials in the market. The new
product will allow pharmaceutical companies to gain access to a state-of-the-art
blend of attributes to pack biologic drugs. At the same time, they can keep up
with the current quality requirements of finish lines and fill.
A list of all the prominent pharmaceutical glass packaging manufacturers
operating in the global market
:
·
Corning Inc. (New York, U.S.)
·
Nipro Corporation (Osaka, Japan)
·
SCHOTT (Mainz, Germany)
·
Gerresheimer AG (Dusseldorf, Germany)
·
SGD S.A. (France)
·
Stölzle-Oberglas GmbH (Köflach, Austria)
·
Bormioli Pharma (Philadelphia, U.S.)
·
West Pharmaceutical Services, Inc. (Pennsylvania, U.S.)
·
Shandong Medicinal Glass Co., Ltd. (China)
·
Beatson Clark (U.K.)
·
Şişecam Group (Tuzla, Turkey)
·
Others
Information Source:
https://www.fortunebusinessinsights.com/pharmaceutical-glass-packaging-market-104710
About Us:
Fortune Business Insights™ offers expert
corporate analysis and accurate data, helping organizations of all sizes make
timely decisions. We tailor innovative solutions for our clients, assisting
them to address challenges distinct to their businesses. Our goal is to empower
our clients with holistic market intelligence, giving a granular overview of
the market they are operating in.
Contact
Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Connect us via Social Media Channels:
Facebook:https://www.facebook.com/FortuneBusinessInsightsPvtLtd
Twitter:https://twitter.com/FBInsightPvtLtd?s=20
LinkedIn:https://www.linkedin.com/company/fortune-business-insights/