BUSINESS

Pharmaceutical Glass Packaging Market Set to Exceed USD 38.62 Billion by 2030 Fueled By Extensive Use Of Generic Drugs

“According to SNS Insider, the Pharmaceutical Glass Packaging Market Size is poised for a significant upsurge, as per the latest insights from SNS Insider. Valued at USD 18.28 Billion in 2022, the market is projected to soar to USD 38.62 billion by 2030, with a robust compound annual growth rate of 9.8% anticipated over the forecast period of 2023 to 2030”

Market Scope:

The pharmaceutical glass packaging market is poised for a transformative journey, fueled by key factors that underscore its robust growth trajectory. One of the primary drivers of this anticipated surge is the extensive utilization of generic intravenous medicines. As the global pharmaceutical landscape continues to witness a rise in the demand for these medicines, the packaging industry, particularly pharmaceutical glass packaging, is set to play a pivotal role. The reliability and security offered by glass packaging make it a preferred choice in the pharmaceutical sector, where the integrity and safety of medicinal products are paramount.

A significant catalyst for the market’s ascent is the projected trajectory of America’s national healthcare expenditure, estimated to reach an astounding $6250 billion. The increasing investment in healthcare, coupled with a growing emphasis on the quality and safety of pharmaceutical packaging, positions the pharmaceutical glass packaging market at the forefront of meeting these evolving needs. The surge in demand for reliable and secure packaging solutions within the U.S. healthcare system is expected to significantly contribute to the market’s overall growth.

Furthermore, India’s prominent standing in the global pharmaceutical arena plays a pivotal role in shaping the future of the pharmaceutical glass packaging market. Being the largest supplier of generic pharmaceuticals worldwide, accounting for 20% of total production, and meeting over 62% of the global vaccine demand, India’s pharmaceutical prowess is a key driver. As the pharmaceutical industry in India continues its upward trajectory, the demand for sophisticated and secure packaging solutions, particularly glass packaging, is poised to escalate rapidly. The Indian pharmaceutical market’s robust growth, with a value of 42.6 billion USD and a substantial increase of 17.8% YoY in August 2021, further underscores the significant role it plays in driving the pharmaceutical glass packaging market’s expected rapid expansion. As the pharmaceutical sector in India continues to evolve, the market for glass packaging is poised to witness substantial growth, creating lucrative opportunities for stakeholders across the value chain.

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Major Players Listed in this Report are:

  • Nipro Corporation
  • SGD S.A
  • West Pharmaceutical Services, Inc
  • Gerresheimer AG
  • Arab Pharmaceutical Glass Co
  • Schott AG
  • Corning Incorporated
  • Owens-Illinois, Inc
  • Shandong Medicinal Glass Co., Ltd
  • Bormioli Pharma S.p.A

Market Analysis:

The pharmaceutical glass packaging market is experiencing a notable upswing, primarily propelled by the surging demand for packaging solutions within the pharmaceutical industry. The global landscape of drug development and innovation is a pivotal factor, driving an escalating need for sophisticated and secure packaging. Pharmaceutical companies, in their pursuit of continuous innovation, are increasingly relying on glass packaging to ensure the integrity and safety of their evolving range of medicinal products. This demand surge is instrumental in steering the growth trajectory of the pharmaceutical glass packaging market.

In addition to the robust demand driven by pharmaceutical advancements, the market is witnessing a transformative phase with the integration of cutting-edge technologies. The adoption of advanced solutions such as smart labels, tamper-evident features, and digital tracking systems is bolstering safety and security within pharmaceutical packaging. This not only meets stringent regulatory requirements but also opens up opportunities for improved patient adherence and transparency in the pharmaceutical supply chain. The convergence of technology with glass packaging solutions positions the market at the forefront of providing enhanced functionalities to pharmaceutical manufacturers and end-users alike.

Moreover, the rising demand for biopharmaceutical products and specialty medicines further underscores the evolving dynamics of the pharmaceutical glass packaging market. As the pharmaceutical landscape continues to diversify with a growing focus on advanced therapeutic solutions, the need for specialized packaging becomes paramount. Glass packaging, with its inherent attributes of stability and inertness, is well-suited to cater to the distinctive requirements of biopharmaceuticals and specialty medicines, fostering the market’s evolution in tandem with industry trends.

Segment Analysis:

In terms of product type, bottles dominate the market, constituting over 34.5% of global revenue in 2022. Vials, with superior analytical capabilities and sustainability, are expected to gain market share, reaching 33.5% by the forecast period. The generic drug category holds a lion’s share, contributing more than 73.2% to global revenue in 2022, propelled by the increasing prevalence of chronic diseases.

By Product Type

  • Bottles
  • Cartridges & Syringes
  • Vials
  • Ampoules

By Drug Type

  • Branded
  • Generic
  • Biologic

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Regional Development:

In 2022, North America emerged as the dominant force in the pharmaceutical glass packaging market, commanding over 36.5% of global revenue. The region is expected to maintain its key role, driven by robust spending on pharmaceuticals and a significant market for innovative products in the United States. Europe, contributing to more than 20% of the volume share in 2022, boasts a thriving research-based pharmaceutical industry, fostering growth through ongoing medical advancements. Meanwhile, the Asia Pacific region is forecasted to witness rapid revenue growth, reflecting the increasing demand driven by a burgeoning consumer base, favorable regulatory regimes, and heightened investments in pharmaceutical production. Developing economies in the Asia Pacific, buoyed by growing healthcare awareness, government initiatives promoting generic medicines, and expanding healthcare coverage, are poised to contribute substantially to the market’s expansion.

Key Takeaways:

  • The pharmaceutical glass packaging market is set for remarkable growth, fueled by pharmaceutical innovations, global healthcare expenditure, and demand for generic drugs.
  • North America remains a key driver, particularly the United States, with a focus on innovation and a flourishing market for generics.
  • The Asia Pacific region emerges as a rapidly growing market, benefitting from increasing awareness, government initiatives, and expanding healthcare coverage.

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Recent Developments:

  • SGD Pharmaexpands its product range with Nova, a lightweight glass bottle, catering to cosmetics and beauty products.
  • A new line of eco-friendly PharmaCos, specifically designed for health products and wellbeing healthcare, is unveiled at the CPHI Barcelona trade fair.

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