Pharmaceutical Glass Packaging Market Is Likely To Up Demand At A USD 37.6 Billion By 2030

 San Francisco, 26 Dec 2022: The Report Pharmaceutical Glass Packaging Market Size, Share & Trends Analysis Report By Product (Vials, Bottles, Ampoules), By Drug Type (Generic, Branded, Biologic), By Region, And Segment Forecasts, 2022 - 2030

The global pharmaceutical glass packaging market size is expected to surpass USD 37.6 billion by 2030, registering a CAGR of 9.2% during the forecast period, according to a new report by Grand View Research, Inc. The factors attributed to drive the market are the rapid expansion of the pharmaceutical industry, expansion in vials production during COVID-19, and growth in the commodity value of glass, augmented with recyclability. However, the increased relevance of alternate sources such as plastic is attributed to restraining the market to some extent.

The manufacturers of glass containers collaborate more closely and exchange opinions with the glass recycling supply chain, waste haulers, operators of materials recovery facilities (MRFs), glass recyclers, and consultants in order to address the opportunities and concerns with respect to the community glass recycling. For instance, in July 2022, Bormioli Pharma launched Eco Positive, a brand new range gathering all the sustainable packaging solutions manufactured by the company, including recycled glass.

Further, the pharmaceutical industry is witnessing a significant transition, and the focus on the development of pharmaceutical drugs has considerably grown during the past few years. There is rapid growth in the pharmaceutical market and research environment in emerging economies such as Brazil, China, and India, which has led to a gradual migration of economic and research activities from Europe to these fast-growing markets.

During the period 2015–2020, the markets in Brazil, China, and India grew by 11.3%, 4.8%, and 10.0% respectively as compared to average market growth of 5.0% for the top 5 European Union markets and 4.9% for the U.S. market thus, driving the market for pharmaceutical glass packaging.

However, the market for pharmaceutical glass packaging is estimated to witness a decline in the forthcoming years mainly because glass materials are expensive and are not able to provide economically viable solutions for the packaging of products for mass consumption. Plastic bottles used for pharma packaging are made of high-grade plastic which is a clear, strong, and lightweight plastic belonging to the polyester family. The adoption of plastic packaging over glass in the pharmaceutical industry is attributed to be a major restrain.

Access Research Report of Pharmaceutical Glass Packaging Market @ https://www.grandviewresearch.com/industry-analysis/pharmaceutical-glass-packaging-market

Pharmaceutical Glass Packaging Market Report Highlights

• In terms of revenue, the generic drug type segment is projected to ascend at a CAGR of 10.1% during the forecast period. Distrust in the quality of unbranded generic medicines by the physicians/patients, high out-of-pocket patient spending for drug purchases and insufficient government promotion of unbranded generics are likely to promote the use of branded generic drugs during the coming years
• Ampoules product segment accounted for 22.4% of revenue share in 2021. Glass ampoules have been widely used in packaging injection drugs. Ampoules are one of the most used glass-based primary packaging for injectables, and their growth is clearly being seen in the cost-sensitive markets of emerging nations
• Glass delaminating has been a growing concern and has been emphasized on by the FDA for better compatibility testing of the container & drug. The development of glass vials by pharma packaging manufacturers that reduce the chances of delaminating and breakage is estimated to result in the continuation of the trend of glass vials occupying a major market share during the coming years
• In December 2020, Bormioli Pharma S.p.A. acquired ISO Arzneiverpackungen Gmbh, a German company that specializes in the production of pharmaceutical packaging and particular tubular glass vials of Type I, II, and III designed for injectable drugs, vaccines, and chromatography markets. This acquisition has allowed the former further to broaden its range of packaging for the parenteral drugs
• Companies in the pharmaceutical glass packaging industry have been trying to improve product strength to reduce breakage during the filling of these vials. In September 2019, Corning Inc. got approval from FDA to market its Corning Valor Glass which enables superior chemical durability and improves resistance to breakage, damage, and particulate contamination

List of Key Players of Pharmaceutical Glass Packaging Market

• Corning Incorporated
• Nipro Corporation
• SGD S.A.
• Stölzle-Oberglas GmbH
• Bormioli Pharma S.r.l
• West Pharmaceutical Services, Inc.
• Schott AG
• Gerresheimer AG
• Shandong Medicinal Glass Co., Ltd.
• Beat son Clark
• Ardagh Group S.A
• Arab Pharmaceutical Glass Co.
• Piramal Enterprises Ltd.
• Owens-Illinois, Inc.

Access Press Release of Pharmaceutical Glass Packaging Market @ https://www.grandviewresearch.com/press-release/global-pharmaceutical-glass-packaging-market