Global Pharmaceutical Glass Packaging Market Segments, Size, Share, Trends, Growth by Product (Glass Vials, Ampoules, and Cartridges), by Application (Generic Drugs, Branded Drugs, and Biological Drugs) and by Region - Global Forecast to 2023
Pharmaceutical Glass Packaging Market Scenario
The global pharmaceutical glass packaging market is set to demonstrate a CAGR of 6% from 2017 to 2023 report Market Research Future (MRFR). Growth of the global pharmaceutical industry is a primary market driver. Improvement in medical services, rising level of awareness and faster product penetration in emerging economies are some of the key factors supporting the growth of the global pharmaceutical glass packaging market. Pharmaceutical glass packaging is an established industry, exiting for several decades.
Glass continues to be a popular packaging material in the pharmaceutical industry. The material is used for packing liquids, semi-liquids, and solids. Due to its non-reactive nature and low environmental consequences, glass has remained a preferred packaging material.
In many regions, the pharmaceutical glass packaging is entering its maturity phase and hence entrance of new players remains moderate. Meanwhile, existing market players are expected to focus on merger and acquisition activities to further consolidate their market position.
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- Gerresheimer AG (Germany)
- SCHOTT Pharmaceutical Packaging (U.S.)
- Shandong Qidu Pharmaceutical Co.,Ltd. (China)
- Ardagh Group S.A. (Luxembourg)
- Stölzle-Oberglas Gmbh (Austria)
- Nipro Corporation (Japan)
- Piramal Glass (India)
- SGD Pharma (France)
- West Pharmaceutical Services, Inc. (U.S.)
- Bormioli Rocco SpA (Italy)
are among the prominent marker players discussed in MRFR’s report.
The segmental analysis of Pharmaceutical Glass Packaging Market has been conducted on the basis of application, product and region.
On the basis of application, the market has been segmented into biological drugs, branded drugs and generic drugs. Among these, the generic drugs segmented is expected to witness a significant growth over the next couple of years. Segment’s growth is partly triggered by the introduction favourable regulations for generic drug manufacturing in various countries across the globe. This has allowed smaller companies to compete with the big pharma. Generic drugs are far more affordable and has a faster penetration rate in price-sensitive markets. Moreover, patent expiration of several blockbuster drugs has led to a boom in generic variants. Governments in developing counties display a pro generic medicine sentiment, which is also influencing the segment’s growth.
On the basis of product, the market has been segmented into cartridges, ampoules and glass vials. The glass vials segment currently account for the largest share of the market in terms of value. The glass vails segment is expected to remain a profitable segment throughout the assessment period. Glass vails witness widespread popularity owing to properties such as dust resistance, easy to clean and non-reactive with solutions stored in them. Nevertheless, introduction of eco-friendly and more durable packaging solutions is expected to impact the market share of glass vials.
Global Pharmaceutical Glass Packaging Market: Regional Analysis
North America has emerged as a prime market for pharmaceutical glass packaging. The vast pharmaceutical industry in the region offers tremendous scope of the growth for the North America pharmaceutical glass packaging market. Any major debacle in demand growth is highly unlike in North America during the forecast period. In North America, glass packaging continues to find favour owing to its eco-friendly attributes and non-reactiveness. North America is expected to maintain is dominant market position in 2019 and beyond.
Asia is viewed as an emerging market for pharmaceutical glass packaging. The market in the region is projected to demonstrate a relatively higher growth during the projection period. the rapid expansion of the pharmaceutical sector in countries such as India and China is providing an impetus to the market in the region. Furthermore, a high demand for pharmaceutical products in these countries make them important investment destinations. Factor such as improving healthcare facilities, increase product penetration and rising healthcare expenditure are supporting the market growth in Asia.
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Related Report : https://www.marketwatch.com/press-release/ampoules-packaging-market-2019-industry-size-global-analysis-by-top-key-players-financial-overview-business-development-methodologies-outlook-and-forecast-to-2022-2019-10-17
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