Global Pharmaceutical Glass Packaging Market To Be Driven By Emerging Economies And Growing Demand For Glass Bottles In The Forecast Period Of 2023-2028 | EMR Inc.
The new report by Expert Market Research titled, ‘Global Pharmaceutical Glass Packaging Market Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global pharmaceutical glass packaging market, assessing the market based on its segments like product type, drug type, application and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 16 Billion
- Forecast CAGR (2023-2028): 7%
- Forecast Market Size (2026): USD 24 Billion
The growth of the pharmaceutical industry in emerging economies is driving demand. Glass packaging manufacturers and suppliers are focusing on shifting their base to China, India, and Brazil as a result of the increasing opportunities presented by the pharmaceutical industry in these countries, especially in the generics sector. The increased market value of glass as a result of its recyclability is driving demand. Since glass makes up most of the pharmaceutical packaging, it accounts for a very small percentage of waste. Glass packaging is also 100% recyclable, making it a green packaging alternative that is contributing to the growth of the pharmaceutical glass packaging industry.
Industry Definition and Major Segments
During storage, carriage, and display, packaging refers to the process of providing protection, appearance, identity, information convenience, and enforcement for products. Packaging also aids in the differentiation of a company’s products from those of its competitors. Pharmaceutical packaging is an essential part of the pharmaceutical industry’s delivery system for goods and drugs. Pharmaceutical packaging equipment can package solids, semi-solids, liquids, and other pharmaceuticals. It aids in the reduction of pharmaceutical product production time, allowing for more innovation and creativity in drug delivery systems and customized drugs.
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Based on product, the market is divided into:
- Ampoules
- Bottles
- Vials
- Syringes
- Cartridges
- Others
Based on drug type, the market is segmented into:
- Generic
- Branded
- Biologic
By application, the industry is categorised into:
- Oral
- Injectable
- Nasal
- Others
The global regions for the pharmaceutical glass packaging market include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
Pharmaceuticals are usually packaged in glass bottles in the pharmaceutical industry. Pharmaceutical glass bottles must adhere to strict tolerance standards since they are often filled in high-speed lines. When compared to polyethylene terephthalate (PET), glass has far fewer negative effects on humans and the environment, making it the most environmentally friendly packaging medium. In the pharmaceutical industry, as well as in ophthalmic settings and for essential oils and aromatherapy, dropper bottles are used. Demand for these bottles is expected to rise over the forecast period, owing to the rising popularity of vape liquids.
Key Market Players
The major players in the market are Ardagh Group S.A., Bormioli Pharma S.r.l., Piramal Glass Private Limited, Schott AG, Sisecam, and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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