The global pharmaceutical glass packaging market size is expected to reach USD 37.62 billion by 2030, registering a CAGR of 9.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. The factors expected to drive the growth are the high recyclability of the glass, chemical inertness, increasing developments in the pharmaceutical industry, and the growing demand for vials for COVID vaccines.
Pharmaceutical Glass Packaging Market Report Highlights
· The generic drug type led the market and accounted for more than 72.9% share of the global revenue in 2023. The main factor contributing to their market growth is pricing and often the shortage of an established pharmaceutical product in the market. Most generic medicines tend to cost less than their brand-name counterparts and provide effective results similar to their brand-name counterparts
· Atmospheric emissions are caused by the melting of raw materials and combustion of natural gas in glass production. The negative environmental impact is expected to drive pharmaceutical glass manufacturers to develop sustainable glass production processes. For instance, in November 2021, Bormioli Pharma S.p.A. inked a 10-year agreement with Glass Futures to jointly carry out research and development of new low-emission technologies for glass production
· Glass delamination has been a major concern for pharmaceutical companies. It includes the appearance of glass lamellae or visible flakes which can lead to an increased number of recalls and health risks. The development of glass vials by reducing the alkali content reduces the chances of delamination and breakage. Furthermore, pharmaceutical glass packaging is manufactured by molded processes offering greater design flexibility and high mechanical resistance which reduces the breakage risk
· In May 2021, Nipro Europe Group Companies acquired Piramida, a Croatian pharmaceutical glass packaging manufacturer to strengthen its presence in Central Europe
· Companies in the pharmaceutical glass packaging industry are trying to increase their production capacity to cater to the growing pharmaceutical requirement. In October 2022, SCHOTT Group announced that it began construction of a new pre-fillable glass syringe (PFS) production facility inLukácsháza, Hungary
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The pharmaceutical industry is witnessing a significant transition and over the past few years, the focus on the development of pharmaceutical drugs has grown significantly. The growing research environment in emerging economies such as India, China, and Brazil has led to a gradual migration of economic and research activities from developed markets to these emerging markets. Since 2006, the United Nations Industrial Development Organization has provided advisory services and technical cooperation to develop local pharmaceutical production in developing countries. This promises to boost the pharmaceutical sector in these countries thereby driving the pharmaceutical plastic packaging industry.
However, the pharmaceutical glass packaging industry is expected to witness some challenges in the forthcoming years since glass is an expensive raw material. Plastic bottles are being used for pharma packaging which is made of lightweight, clear, and durable plastic belonging to the polyester family. Furthermore, developments are being carried out to develop material that overcomes the shortcomings of glass and plastic which can negatively impact the pharmaceutical glass packaging industry. For instance, in May 2022, Mitsubishi Gas Chemical Company, Inc. and BD (Becton, Dickinson and Company) agreed to develop Oxycapt, a multilayer material integrating features of plastic and glass for prefilled syringes.
Pharmaceutical-grade silicone-based fluids are being extensively applied on the inner surface of glass vials and ampoules to allow the draining of vaccines from the glass packaging products and maintain the efficacy and safety of Active Pharmaceutical Ingredients (APIs). In January 2022, West Pharmaceutical Services, Inc. entered into a technology and supply agreement with Corning Incorporated to expand Valor Glass technology for developing advanced injectable drug packaging and delivery systems.
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We segmented the pharmaceutical glass packaging market on the basis of on material, product, drug type, and region.
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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Just like thousands of other types of products, pharmaceutical packaging has a lot of importance.
It helps in different ways to keep the products better.
Some of the most essential benefits are: Protection of the productInformation about the productCustomer engagementBranding of the producthttps://dewarticles.com/the-most-essential-types-of-pharmaceutical-packaging-you-must-know/
The Global Glass Packaging Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 gives an evaluation of the market developments based on historical studies and comprehensive research respectively.
The market segments are also provided with an in-depth outlook of the competitive landscape and a listing of the profiled key players.Glass packaging refers to packaging of goods into glass bottles, containers and other glass enclosures.
Glass is extensively preferred as a packaging material due to its properties like recycling reuse and neutral reacting nature.
It preserves food and beverages for a long term and avoids contamination.
For example, beer is stored in dark glass bottles to avoid spoilage.
Glass packaging use interactive design as a major aspect to attract consumers.Glass jars, lids, containers and bottles are made of various shapes, size and colour according to requirements.
Going with the flow, Pharmaceutical Industry chooses to remain upbeat with trends & this makes social media marketing inevitable for it too.
You cannot imagine the way doctors & patients can stay connected to share & consume content surrounding the healthcare industry.
Placing an order for medicines in the middle of the night is just a text away these days.Social media marketing lifts the barrier & opens endless opportunities for Pharmaceutical Companies to reach out to more target audience.
It is their golden chance to win potential consumers by establishing an emotional connection with the brand.
Medication had previously been manufactured in the medical laboratories of pharmaceutical firms were pharmacists and physicians formulated and administered medications to healthy and ill patients.
By the early twentieth century, the Pharmaceutical Industry controlled more than ninety percent of global pharmaceutical sales.Prescription drugs constitute the bulk of pharmaceutical products in use today.
The number of individuals using pharmaceuticals products has been increasing dramatically over the past few years.
As more people are utilizing prescription drugs, questions are being raised as to whether pharmaceutical companies are having an impact on the rising level of illness in the US.
The largest manufacturers of prescription drugs are CVS Cosmetology Products, Inc. (parent company of brands like L'Oreal), Shire Biotechnology, Inc., Actonel Corp., GlaxoSmithKline, Sanofi Aventis, Rymadol, Cepacor, Ltd., Wal-mart Stores Inc., All generics Corp., Actavis Inc., Tylenol Inc., AstraZeneca Pharmaceuticals Inc., Teva Pharmaceuticals, and Jansport.
These companies collectively produce more than the US $60 billion in revenue.Since the development and production of new drugs is the source of revenue for many pharmaceutical manufacturers, they invest extensively in the research and development of new drugs and in establishing medical partnerships.
