The United States of America
will lead North America, and
pharmaceutical glass packaging market growth forecasts suggest that
it will be accelerated at a 9.8% CAGR. Also, the pharmaceutical
glass packaging market size will reach US$
9.7 billion during the forecasted period.
NEWARK, Del., April 30, 2024 /PRNewswire/ -- The
advancement path of the global pharmaceutical glass packaging
market will be carved promisingly at a CAGR of 9.5%,
enabling the market growth drivers to uplift the market from
US$ 22 billion to
US$ 54.6 billion in the
forecasted period 2024 to 2034.
The demand for less invasive therapies is increasing. As a
result, consumable tablets are more in demand. Similarly, other
less invasive capsules and other medicines observe a spike in
demand. Consequently, the demand for packaging solutions is
increasing, driving the growth of the pharmaceutical glass
packaging market.
The growth in the number of accidental cases, the rising
prevalence of chronic diseases, and the growing medical facilities
accelerate the pharmaceutical sector. Therefore, demand for glass
packaging for better handling medicines increases, driving the
pharmaceutical glass packaging market size.
Regulatory policies by different governments mandate leading
players in the pharmaceutical glass packaging market to produce
sustainable packaging solutions. Therefore, this drives the demand
for glass packaging material that meets sustainability
standards.
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The growing demand for eco-friendly and recyclable materials
surges the need for glass packaging. Also, its low reactivity with
patients' samples enhances the shelf-life of samples collected.
Key Takeaways from the Market Study:
- The South Korean pharmaceutical glass packaging market will
likely be the fastest growing market, projecting a CAGR of
12.1%.
- The United Kingdom is the
European leader, predicting a promising CAGR of 10.7%.
- The United States of America
will lead the global pharmaceutical glass packaging market in terms
of its size, projecting the estimated valuation to reach
US$ 9.7 billion by 2034.
- Generic segment will likely hold 64% of the market space and
advance at the highest 9.3% through 2034.
"The potential risk of material damage during
transportation might affect the life of glass packaging solutions,
which is a key market challenge," says a Lead
Consultant Ismail Sutaria in
Packaging at Future Market Insights (FMI).
Pharmaceutical Glass Packaging Market Competitive
Landscape:
Leading players in the pharmaceutical glass packaging market
emphasize market expansion through various strategies. These moves
aid a better market place for these players, enhancing their market
occupancy.
Strategic initiatives include mergers, alliances,
collaborations, drug packaging innovation, and partnerships. The
following key developments have been observed:-
- In March 2020, Corning
Incorporated launched first ultra-low-loss, smaller-diameter
fibers, specially designed for long-haul networks. This product
launch helped the organization gain more market space. Also, it
allowed the business to create a niche in the market.
- In December 2022, Nipro
Corporation founded a new sales office in China. This strategic move enabled the
organization to enhance its international presence, gaining market
space in the competitive landscape.
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More Valuable Insights Available
Future Market Insights offers an unbiased pharmaceutical glass
packaging market analysis, providing historical data from 2019 to
2023 and forecast statistics from 2024 to 2034.
The market is segmented on the basis of Material (Type I, Type
II, and Type III), Product (Vials (Small vials and Large vials),
Bottles (Small bottles and Large bottles), Cartridges &
Syringes, and Ampoules), and Drug Type (Generic, Branded, and
Biologic) and region (North
America, Latin America,
Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and the Middle East and Africa).
Report Scope:
Attributes
|
Details
|
Estimated Market
Size in 2024
|
US$ 22
billion
|
Projected Market
Valuation in 2034
|
US$ 54.6
billion
|
Value-based CAGR
2024 to 2034
|
9.5 %
|
Forecast
Period
|
2024 to 2034
|
Historical Data
Available for
|
2019 to 2023
|
Market
Analysis
|
Value in US$
billion
|
Key Regions
Covered
|
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa
|
Key Market Segments
Covered
|
- Material
- Product
- Drug Type
- Region
|
Key Countries
Profiled
|
- The United States
- Canada
- Brazil
- Mexico
- Germany
- The United Kingdom
- France
- Spain
- Italy
- Poland
- Russia
- Czech Republic
- Romania
- India
- Bangladesh
- Australia
- New Zealand
- China
- Japan
- South Korea
- GCC Countries
- South Africa
- Israel
|
Key Companies
Profiled
|
- Corning Incorporated
- Nipro Corporation
- SGD S.A.
- Stoelzle Oberglas GmbH
- Bormioli Pharma S.p.A.
- West Pharmaceutical Services Inc.
- Schott AG
- Gerresheimer AG
- Shandong Medicinal Glass Co. Ltd.
- Beatson Clark
- Ardagh Group S.A
|
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Pharmaceutical Glass Packaging Market - Key Segments
By Material:
By Product:
- Vials
-
- Bottles
-
- Small bottles
- Large bottles
- Cartridges & Syringes
- Ampoules
By Drug Type:
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and
Africa
About the Packaging Division at Future Market
Insights.
The packaging team at Future Market Insights offers expert
analysis, time efficient research, and strategic recommendations
with the objective to provide authentic insights and accurate
results to help clients worldwide. With a repertoire of over 100+
reports and 1 Million+ data points, the team has been analyzing the
market lucidly in 50+ countries for over a decade. The team
provides a brief analysis on key trends including competitive
landscape, profit margin, and research development efforts.
Authored by:
Ismail Sutaria (Lead
Consultant, Packaging and Materials) has over 8 years of experience
in market research and consulting in the packaging & materials
industry. Ismail's strength lies in identifying key challenges
faced by the client and offering logical and actionable insights to
equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational
consulting assignments. His key skills include competitive
benchmarking, opportunity assessment, macroeconomic analysis, and
business transformation advisory. Ismail is an MBA holder in
Marketing and has a Bachelor's Degree in Mathematics.
Have a Look at Related Research Reports on Packaging
Domain:
The global sustainable pharmaceutical packaging market
size is anticipated to be worth US$ 410
billion by 2034. According to the estimates, the market is
projected to clock a 15.6% CAGR until 2034. In 2024, the
sustainable pharmaceutical packaging market size is valued at
US$ 96 billion.
The anti-counterfeit pharmaceutical packaging market is
estimated to be valued at US$ 108.1
billion in 2023 according to estimates. The market is
expected to reach US$ 246.6 billion
by 2033 developing at a CAGR of 8.6%.
The global pharmaceutical vials market is expected to be valued
at US$ 12,137.2 million in 2023 and
reach a valuation of US$ 24,099.7
million by 2033. The demand for pharmaceutical vials is
estimated to grow at a steady 7.10% CAGR, with the United Kingdom, the USA, China,
and India emerging as key
producers.
The temperature controlled pharmaceutical containers market is
set to enjoy a valuation of US$ 4.8
billion in 2024, registering progression at a CAGR of 4.8%
to reach US$ 7.7 billion by 2034.
Sales of such containers are anticipated to bolster with the top 3
countries estimated to hold around 35 to 40% of the market by the
end of this forecast period.
The net worth of the market share of pharmaceutical plastic
bottles is predicted to grow from US$ 35.8
Billion in 2023 to over US$ 97.1
Billion by 2033. This is expected to further drive the
market share and register a CAGR of 10.5% between 2023 and
2033.
The global pharmaceutical unit dose packaging market is expected
to attain an impressive valuation of US$
34.2 billion in 2023 and is projected to reach US$ 136 billion by 2033, expanding at a CAGR of
14.8%.
Newly released data by Future Market Insights (FMI) projects
the global pharmaceutical cold chain packaging market to
register a CAGR of 14.8% and to reach US$
60,100.9 million by 2033. As per the report, polymer emerge
as the top choice for packaging material and it is expected to
account for over 62.1% of the global market share in 2023.
The pharmaceutical container market is likely to be valued at
US$ 95.3 billion in 2023. The
estimated CAGR of 6.1% from 2023 to 2033 suggests that the global
pharmaceutical container market is expected to reach a valuation of
US$ 172.4 billion by 2033.
The global pharmaceutical packaging equipment
market size is expected to be valued at US$ 5.6 billion in 2023. Increasing demand for
sustainable packaging solutions, bolsters the overall scope for
pharmaceutical packaging equipment market, which is projected to
grow at a CAGR of 4.1% between 2023 and 2033, totaling around
US$ 8.4 billion by 2033.
The global pharmaceutical contract packaging market is predicted
to be valued at US$ 6.1 billion in
2023. Contract packaging services in pharmaceuticals are forecasted
to advance at 7.5% CAGR from 2023 to 2033. By the end of the year
2033, the overall market is forecasted to reach a valuation of
US$ 11.9 billion.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the
Stevie Award, and a member of the Greater
New York Chamber of Commerce) offers profound insights into
the driving factors that are boosting demand in the market. FMI
stands as the leading global provider of market intelligence,
advisory services, consulting, and events for the Packaging, Food
and Beverage, Consumer, Technology, Healthcare, Industrial, and
Chemicals markets. With a vast team of over 400 analysts worldwide,
FMI provides global, regional, and local expertise on diverse
domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware -
19713, USA
T: +1-845-579-5705
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