Global Pharmaceutical Glass Packaging Market Report, 2019 to 2025
by Susan Hill Business ConsultantThe global pharmaceutical glass packaging market size is
projected to reach USD 22.05 billion by 2025, according to a new report by
Grand View Research, Inc. It is expected to expand at a CAGR of 6.4% during the
forecast period. Governments in developing regions are expanding their public
or private healthcare coverage which is expected to drive the demand for this
packaging.
Pharmaceutical glass packaging plays a major role in
increasing shelf life of the drugs. Growing requirement for brand enhancement
and differentiation in an increasingly competitive environment, R&D
activities, awareness regarding environmental issues, and adoption of new regulatory
requirements for recycling of packaging products are some of the key market
drivers.
The market size as well as penetration of glass
vials is anticipated to remain high over the forecast period owing to the high
inertness of these products to majority of chemicals. Moreover, the vials
prevent atmospheric gases such as oxygen as well as carbon
dioxide from entering the container, which is anticipated to surge the
product demand in the forthcoming years.
The pharmaceutical glass packaging market is
expected to face a stiff composition from other plastic substitutes such as
Polyethylene Terephthalate (PET), High-density Polyethylene (HDPE), Low-density
Polyethylene (LDPE), and Polystyrene (PS) not only for the development of
non-parenteral containers but parenteral containers as well, which is expected
to hinder the market growth in near future.
Asia Pacific is estimated to witness the fastest
CAGR of over 9% during the forecast period on account of increasing production
volumes in emerging economies including India and China. China is expected to
emerge as one of the major consumers of pharmaceutical glass packaging.
Further
key findings from the report suggest:
- In terms of revenue, pharmaceutical glass bottles is projected to
ascend at a CAGR of 4.8% over the forecast period
- Cartridges and syringes contributed approximately over 9.8% to the
total market in 2018
- Pharmaceutical glass packaging for generic drug types led the global
market, constituting a revenue share of over 71.3% in 2018
- In terms of product, vials emerged as the second largest segment in
2018, registering a revenue of USD 4.66 billion. The segment is expected
to expand at a CAGR of 7.0% in the forthcoming years
- Biologics
accounted for 6 of the top 8 drugs, in terms of revenue, in 2018.
Biologics are attractive for the global pharma industry as they provide
benefits in the underserved therapeutic areas, which is anticipated to
fuel the growth
- North America pharmaceutical glass packaging market is anticipated
to expand at a CAGR of 3.6% in the forthcoming years. Expiration of
patents, rise in aging population, and various efforts from governments
and health care service providers to increase consumer awareness are
likely to propel the utilization of generic drugs in the region
- SCHOTT AG; Gerresheimer AG; Nipro Pharmapackaging; Corning
Incorporated; Şişecam Group; Stevanato Group; Arab Pharmaceutical Glass
Co.; Beatson Clark; and Owens-Illinois, Inc. are some of the key
manufacturers of pharmaceutical glass products such as ampoules,
cartridges and syringes, vials, and bottles
Grand View Research has segmented the global
pharmaceutical glass packaging market on the basis of product, drug, and
region:
Pharmaceutical
Glass Packaging Product Outlook (Volume, Million Units; Revenue, USD Million,
2014 - 2025)
- Vials
- Small (<30 ml)
- Large (>30 ml)
- Bottles
- Small (<30 ml)
- Large (>30 ml)
- Cartridges & Syringes
- Ampoules
Pharmaceutical
Glass Packaging Drug Type Outlook (Volume, Million Units; Revenue, USD Million,
2014 - 2025)
- Generic
- Branded
- Biologic
Pharmaceutical
Glass Packaging Regional Outlook (Volume, Million Units; Revenue, USD Million,
2014 - 2025)
- North America
- U.S.
- Europe
- Germany
- France
- Italy
- U.K.
- Spain
- Asia Pacific
- China
- India
- Japan
- South Korea
- Central & South America
- Brazil
- Middle East & Africa
Access
full research report on global pharmaceutical glass packaging market:
https://www.grandviewresearch.com/industry-analysis/pharmaceutical-glass-packaging-market
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Created on Jun 21st 2019 06:21. Viewed 367 times.