MarketResearchFuture.com added New Report Named “Pharmaceutical Glass Packaging Market 2018: Global Industry Analysis, Market Growth and Opportunity Assessment, Segmentation by Product (Glass Vials, Ampoules, and Cartridges), by Application (Generic Drugs, Branded Drugs, and Biological Drugs) and by Region | Outlook to 2023” to its Database.
Global pharmaceutical glass packaging market is expected to grow at ~ 6% CAGR during the forecast period 2018-2023
Packaging refers to the process of providing protection, presentation, identification, information convenience, and compliance for product during storage, carriage, and display. Packaging also helps manufacturers differentiate their products from those of their competitors. Pharmaceutical packaging is an essential part of the delivery system of pharmaceutical products and the drugs in the pharmaceutical industry. Pharmaceutical packaging safeguards products from physical damage, biological contamination, and from all antagonistic external influences that can damage the products. Pharmaceutical packaging equipment includes primary packaging equipment, secondary packaging equipment, and equipment for labeling and serialization. Pharmaceutical packaging equipment can be used for packing solids, semi-solids, liquids, and others. It helps reduce the time required for packaging pharmaceutical products, which in turn helps increase production and innovation in drug delivery systems and personalized drugs. Various packaging materials can be used for pharmaceutical packaging, such as plastic, paper, glass, and metals. The pharmaceutical glass packaging market is growing at a significant rate owing to increasing demand for pharmaceutical products and technological advancements in the field. One of the major advantages of using glass packaging is the inert nature of glass, which does not let it react with the contents within under most circumstances.
Glass packaging is mainly used in pharmaceutical packaging liquid preparations due to their rigidity and their superior protective qualities. Its high transparency allows easy inspection of its contents. It offers better protection because of its relative impermeability to air and moisture. Glass is chemically resistant to most medicinal products. Also, colored glass such as, amber glass and red colored glass can protect its contents from ultraviolet rays and certain wavelengths. Glass containers can easily be sterilized using heat, which make them an ideal material for pharmaceutical packaging.
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The key players of global pharmaceutical glass packaging market are Gerresheimer AG (Germany), Nipro Corporation (Japan), SCHOTT Pharmaceutical Packaging (U.S.), SGD Pharma (France), Shandong Qidu Pharmaceutical Co.,Ltd. (China), Bormioli Rocco SpA (Italy), Ardagh Group S.A. (Luxembourg), West Pharmaceutical Services, Inc. (U.S.), Piramal Glass (India), and Stölzle-Oberglas Gmbh (Austria).
Global pharmaceutical glass packaging market has been segmented based on product, application, and region. Glass vials in product segment is expected to hold the largest market share during the forecast period. Glass vials are comparatively easy to clean, dust resistant and are non-reactive with the fluids stored in them. Nowadays, there has been an inclination of manufacturers towards the use of high-tech glasses and eco-friendly packaging solutions so as to keep medicine fluids, safe. By application, the growth of the generic drugs segment is expected to rise further. This is due to the new government initiatives to produce generic drugs and mainly to promote the use of generic drugs against chronic diseases. Patent expiration of branded drugs is one of the key influencers for the growth and is the prime reason for generating more revenue for generic drugs market. Moreover, new emerging markets of developing countries, and the low cost of generic drugs are majorly responsible for thickening the growth of generic drugs market. This strengthens the global pharmaceutical glass packaging market.
The pharmaceutical glass packaging industry is expected to witness a few number of new entrants over the forecast period owing to continuous developments in pharmaceutical industry coupled with growing consumer preferences for high protective features. The market is also expected to have high expansion activities by multinationals and well-established companies. Mergers and acquisition activities are expected to be seen over the forecast period.
Global Pharmaceutical Glass Packaging Market
The growth of pharmaceutical glass packaging market is driven by different factors in different regions. North America dominates the global market for pharmaceutical glass packaging due to technical advancements and the demand for pharmaceutical products in the region. In addition, increased awareness about the benefits of using glass packaging for pharmaceutical products and improved healthcare facilities are driving the North American market for pharmaceutical glass packaging. The Asia pharmaceutical glass packaging market, is expected to exhibit a high growth rate in the next few years, followed by the European market. China and India are expected to be the fastest growing pharmaceutical glass packaging markets in the region given the large population base and increasing prevalence of chronic diseases in these countries. Some of the key drivers for the pharmaceutical glass packaging market in emerging countries are increasing information, and improved healthcare facilities.
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