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Pharmaceutical Glass Packaging Market 2020 Size

Post Time:Aug 05,2020Classify:Industry NewsView:971

Aug 04, 2020 (Market Insight Reports) -- The pharmaceutical glass packaging market was valued at USD 15.6 billion in 2019 and is expected to reach USD 23.35 billion by 2025, at a CAGR of 6.5% over the forecast period 2020- 2025.

Glass packaging is one of the primary packaging materials for the pharmaceutical industry as it limits the alkalinity and hydrolytic resistance of the glass container. Also, glass containers offer high transparency, which allows easy inspection of its contents, enables protection because it is relatively impermeable to air and moisture and chemical resistance to most of the medicinal products.

Glass packaging solutions are offered mainly as the primary packaging for pharmaceutical products and is one of the leading packaging material among others for the pharmaceutical industry. The scope of the study for the pharmaceutical glass packaging market is limited to the type of products offered by the vendors globally and their regional analysis.

– The economies across the globe are growing, especially in the Asia-Pacific region. With this, spendings on medicines are also increasing year on year. IQVIA states in its latest report that, in 2018, this spending has reached USD 1.3 trillion globally and is expected to reach USD 1.3 trillion by the year 2023. This is one of the factors forcing for the growing pharmaceutical industry worldwide and ultimately reflecting the increasing demand for the pharmaceutical glass packaging market.

– According to the Institute of Scrap Recycling Industris, Inc., the recycled glass is the substitute of 70% of the raw material used in making new glass. The initiatives of glass recycling are adding value to glass as a commodity.

The prominent players in the global Pharmaceutical Glass Packaging market are:

Boeing, MBDA, Lockheed Martin Corporation, Raytheon Company, Defence Research, and Development Organisation among others

Market Segmentation by Region:

North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Malaysia, Philippines, Thailand, Vietnam, Europe, Germany, France, UK, Italy, Russia, Rest of Europe, Central & South America

Global Pharmaceutical Glass Packaging Market Overview

Ampoules Packaging to Hold a Significant Share

– In glass ampoules, medication is only in contact with glass, and the packaging is 100% tamper-proof. Therefore, over the years, these ampoules have been widely used in packaging injection drugs. For instance, Helixor, which contains Mistletoe therapy and is an integral part of integrative oncology, uses glass ampoules to maintain the characteristics of the medicine.

– In the case of cancer treatment, chemotherapy, which includes traditional chemotherapeutic agents that are cytotoxic, requires glass ampoules. According to WHO, the cytotoxic medicines, such as calcium folinate, are mostly packed in an injection 3 mg/ml in a 10_ml ampoule. Therefore, to maintain the properties of the medications, glass is a preferred material.

– Furthermore, according to Gerresheimer AG, its revenue from glass packaging as primary material segment had recently increased in 2018, after witnessing a downfall in 2017.

– Gerresheimer has two plants at its site in the Indian city of Kosamba. The recently constructed Gerresheimer plant, in 2019, manufactures vials and ampoules for the pharmaceutical industry using tubular glass, while Neutral Glass makes molded glass products for pharmaceutical applications, and, only very recently, put a new high-performance furnace into operation.

Pharmaceutical Glass Packaging Market Recent Developments:

– April 2019 – The technology group, SCHOTT, invested BRL 50 million in its pharmaceutical tubing production in Rio de Janeiro, as part of its global growth strategy. As the demand in pharmaceutical industries is increasing, SCHOTT is contributing to manufacture 100% inspection of glass tubing to detect possible defects.

– March 2019 – Gerresheimer AS announced for investing EUR 40-70 million in the new plant in the North Macedonian capital of Skopje, first in South-Eastern Europe. The plant is expected to initially manufacture medical plastic ampoules, prior to adding refillable glass syringes lines.

Source: https://www.marketwatch.com/Author: shangyi

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