In terms of revenue, the Global Pharmaceutical Glass Packaging Market is expected to reach USD 33.9 Billion by 2030, growing at a CAGR (Compound Annual Growth Rate) of 9.4% from 2023 to 2030.
The potency of biologic pharmaceuticals in treating major chronic diseases, particularly certain subtypes of autoimmune diseases and cancer, is largely responsible for the expansion of biologic pharmaceutical glass packaging. Glass delamination and chipping brought on by surface deterioration are anticipated to hold back the growth of biologic pharmaceuticals and pharmaceutical glass packaging. Biologic pharmaceuticals are the second fastest-growing market sector for pharmaceutical glass packaging as a result of the aforementioned considerations. Generic, branded, and biological pharmaceuticals are included in the market segmentation for pharmaceutical glass packaging based on application. In 2021, generic medicine forms of pharmaceutical glass packaging dominated the market and generated the largest share of global revenue. The market for generic medicines has expanded as a result of an ageing population, an increase in chronic disease cases, and a rise in drug patents that have expired in recent years.
Key Highlights from the Report
·Based on End use, the bottles segment dominates the Pharmaceutical Glass Packaging market with the maximum market share and will continue to dominate in the forecast period.
·In terms of Region, North America holds the significant market share within the Pharmaceutical Glass Packaging market and will continue to dominate during the forecast period.
Globally increasing health consciousness has opened up new business potential for pharmaceutical glass packaging. The development of healthcare systems by the governments of emerging nations may result in new market prospects for pharmaceutical glass packaging. New glass varieties could result in a significant increase in demand for glass packaging. A new market segment for pharmaceutical glass packaging is likely to be supported by the introduction of boron-free glass. There may be a new wave of prospects for the pharmaceutical glass packaging market as a result of the adoption of new technologies to enhance the pharmaceutical glass packaging process.
The efficacy of biologic medications to treat serious chronic diseases, particularly specific types of autoimmune diseases and cancer, is the key driver of their expansion. However, it is projected that the rise of primary glass packaging for biologic pharmaceuticals will be restrained by glass delamination and chipping caused by surface deterioration. Because it is more economical, the generic medicine segment is anticipated to grow faster than the branded segment in terms of volume and revenue, whereas the branded segment's growth will be moderate over the forecast period due to patent expirations. Due to lower volume sales of branded medications, the primary glass packaging category is predicted to increase slowly.
Biologics are projected to primarily benefit the pharmaceutical sector since they address unmet therapeutic needs. The market category for biologics has had moderate expansion as a result of the lack of biosimilar competition. The United States is home to several large pharmaceutical companies; thus it is anticipated that it will continue to be a focal point for several business activity involving pharmaceutical glass packaging. Sales of branded products in the United States are anticipated to be constrained by this transition and the expiration of several medications patents.
The Global Pharmaceutical Glass Packaging Market is Segmented as follows
- Cartridges & Syringes
- Drug Type
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of the Key Players of the Global Pharmaceutical Glass Packaging Market is
Corning Incorporated (U.S.), Nipro Corporation (Japan), Stelle Oberg Las GmbH (Austria), Bormio Pharma SPA (Italy), West Pharmaceutical Services Inc. (U.S.), Schott AG (Germany), Hergesheimer AG (Germany), Shandong Medicinal Glass Co. Ltd (China), Beatson Clark (UK), Ardagh Group SA (Luxembourg), Piramal Enterprises Ltd. (India), Şişecam Group (Turkey), Owens-Illinois Inc. (U.S.)
The Global Metal Coatings Market Scope can be Tabulated as below
|Market Size Provided for Years||2017 - 2030|
|Historic Years||2017 - 2021|
|Forecast Years||2023 - 2030|
|Regions & Counties Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|