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The pharmaceutical glass packaging market size is forecast to increase by USD 7.74 billion at a CAGR of 7.44% between 2023 and 2028. The market is experiencing significant growth due to the increase in Research and Development (R&D) spending in the pharmaceutical industry and the rising demand for high-quality packaging to ensure the shelf life of medicines. The use of advanced glass packaging solutions, such as Corning Velocity Vials, is gaining popularity in healthcare facilities due to their ability to reduce atmospheric gases and maintain the potency of medicines. Additionally, the shift towards single-dose vials and prefilled syringes is driving market growth. However, the risk of counterfeiting in pharmaceutical glass packaging remains a major challenge, necessitating the development of advanced security features and regulatory compliance. Overall, the market is expected to witness strong growth in the coming years, driven by these trends and challenges.
The market is witnessing significant growth due to the increasing demand for generic injectable drugs. The chemical composition of glass packaging includes major elements such as limestone (CaCO3), sand (SiO2), barium, zinc, ferrous, magnesium, calcium, potassium, sodium, boron, and aluminum. These elements provide the necessary properties to glassware, such as strength, transparency, and resistance to heat and chemicals. The market is driven by rising healthcare expenditures, particularly in developed countries, and the growing demand for cost-sensitive medicare programs. The market is segmented into single-dose vials and prefilled syringes. The demand for these packaging types is high in healthcare facilities due to their ability to maintain the sterility and stability of biotech drugs.
Furthermore, atmospheric gases, such as carbon dioxide and oxygen, are used in the production process of glass packaging to control the melting temperature and to improve the glass's properties. The market is expected to grow further due to the increasing demand for glass packaging in the delivery of various types of drugs, including those containing atmospheric gases.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The generic segment is estimated to witness significant growth during the forecast period. Glass packaging plays a significant role in the pharmaceutical industry due to its inherent benefits, including sustainability, inertness, impermeability, recyclability, and reusability. These properties make glass an ideal material for storing and protecting various medicines, particularly in healthcare facilities. One notable application of glass packaging is in the form of vials and single-dose containers, which are widely used for storing and dispensing pharmaceutical products. For instance, Corning's Velocity Vials are designed to extend the shelf life of atmospheric gas-sensitive drugs by reducing the amount of headspace in the vial. Additionally, prefilled syringes, another type of glass packaging, offer advantages such as improved patient safety and convenience.
Despite their lower production costs, generic drugs, which account for a significant portion of the pharmaceutical market, are required to meet the same rigorous quality standards as branded drugs. Consequently, glass packaging continues to be a preferred choice for storing and protecting these cost-effective medicines.
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The generic segment accounted for USD 9.60 billion in 2018 and showed a gradual increase during the forecast period.
North America is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The market is significantly driven by the need to extend the shelf life of medicines in healthcare facilities. In North America, the US is a major contributor to the market due to the presence of numerous globally established pharmaceutical companies. The increasing value of US pharmaceutical exports, rising healthcare spending, and a growing aging population are key factors fueling market growth. Additionally, the increasing number of government healthcare insurance programs and the intellectual property system in the US are boosting sales of patented drugs, thereby attracting significant venture capital investments in the industry.
Furthermore, glass packaging solutions, such as vials and prefilled syringes, are widely used in the pharmaceutical industry due to their ability to maintain the efficacy and stability of medicines by excluding atmospheric gases. Companies like Corning offer innovative solutions, such as Corning Velocity Vials, which provide enhanced protection against contamination and improve the overall patient experience.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increase in R and D spending in pharmaceutical industry is the key driver of the market. Pharmaceutical glass packaging plays a crucial role in the preservation and delivery of various medicines, particularly biotech drugs, which have sensitive chemical compositions. Medicare and other national health spending programs continue to prioritize cost-sensitivity, making the choice of packaging materials essential. Strict regulations govern the production and use of glassware in pharmaceutical applications to ensure safety and efficacy.
Moreover, according to recent industry reports, pharmaceutical companies allocate a substantial portion of their budgets towards research and development (R&D), with an average of 15-20% of revenue dedicated to this purpose. For instance, Biogen and F. Hoffmann-La Roche (Roche) invested 22% and 22.2% of their revenues, respectively, in R&D in 2022. This significant investment underscores the importance of innovative drug delivery products and the role of pharmaceutical glass packaging in the pharmaceutical industry.
Rising demand for high-quality pharmaceutical packaging is the upcoming trend in the market. The market is experiencing significant growth due to the increasing demand for quality packaging solutions in the healthcare sector. With a focus on ensuring product safety and efficacy, pharmaceutical glass packaging plays a crucial role in protecting medicinal contents against external influences, such as light, moisture, oxygen, biological contamination, and mechanical damage. This is particularly important for sensitive pharmaceuticals, including biotech drugs, which require stringent storage conditions to maintain their chemical composition. The growing national health spending and cost-sensitivity among consumers have made it essential for pharmaceutical companies to comply with strict regulations and quality standards. The International Organization for Standardization (ISO) certifications, such as ISO 9001, are widely adopted to ensure quality management.
Furthermore, pharmaceutical glassware manufacturers adhere to these regulations to meet the increasing demand for appropriate packaging products that safeguard drug delivery products and comply with regulatory requirements. Moreover, the introduction of innovative drugs in the market has further fueled the demand for pharmaceutical glass packaging. These packaging solutions offer superior protection, ensuring the drugs' efficacy and quality, making them a preferred choice for pharmaceutical companies. Overall, the market is expected to continue its growth trajectory, driven by the increasing demand for high-quality packaging solutions that meet stringent regulatory requirements and ensure the safety and efficacy of pharmaceuticals.
Risk of counterfeiting in pharmaceutical glass packaging is a key challenge affecting market growth. The market is subject to various challenges, particularly in relation to the complexities of the global pharmaceutical supply chain. Counterfeit drugs pose a significant risk to consumers' health and safety, as well as to the financial wellbeing of pharmaceutical and glass packaging companies. The intricacy of the supply chain, which involves numerous intermediaries, increases the likelihood of counterfeit products infiltrating the system. These fake drugs can enter the supply chain at various stages, from the beginning of production to the end customer, or even during reverse logistics operations. Moreover, the chemical composition of glassware used in pharmaceutical packaging must adhere to stringent regulations to ensure the safety and efficacy of biotech drugs.
Furthermore, the cost-sensitivity of Medicare and national health spending further adds to the pressure on companies to maintain competitive pricing, which can impact the quality of glass packaging materials used. As the demand for drug delivery products continues to grow, it is crucial for stakeholders to prioritize the implementation of strong security measures to mitigate the risk of counterfeit drugs entering the supply chain and safeguard brand reputation.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Arab Pharmaceutical Glass Co: The company offers pharmaceutical glass packaging solutions such as vials, jars, and bottles.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is driven by the increasing demand for generic injectable drugs and the growing usage of glassware in the production of various medicines. The chemical composition of glass packaging includes limestone (CaCO3), sand (SiO2), barium, zinc, ferrous, magnesium, calcium, potassium, sodium, boron, aluminum, and silicon. The market is influenced by factors such as the strict regulations imposed by healthcare facilities, veterans administration, Medicaid, and Medicare, which ensure the safety and quality of drug delivery products. The market's growth is also influenced by the cost-sensitivity of consumers and the national health spending trends. The demand for glass packaging is high for single-dose vials and prefilled syringes due to their ability to maintain the shelf life of medicines and protect against contamination from atmospheric gases like carbon dioxide and oxygen.
Furthermore, sustainability is a key consideration in the market, with the adoption of sustainable practices and the use of intelligent packaging technologies such as RFID tags and tamper-evident features. Drug stability is a critical factor, with the need to prevent degradation through hydrolysis, oxidation, and the effects of volatile ingredients.
Market Scope |
|
Report Coverage |
Details |
Page number |
176 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.44% |
Market growth 2024-2028 |
USD 7.74 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.4 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 36% |
Key countries |
US, Russia, China, UK, and India |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Acme Vial and Glass Co. LLC, Arab Pharmaceutical Glass Co., Ardagh Group SA, Beatson Clark, Becton Dickinson and Co., Bormioli Pharma Spa, Corning Inc., DWK Life Sciences GmbH, Gerresheimer AG, Hindustan National Glass and Industries Ltd., Nipro Corp., O I Glass Inc., PGP Glass Pvt. Ltd., SCHOTT AG, SGD Pharma, Shandong Pharmaceutical Glass Co. Ltd., Stevanato Group S.p.A, Stoelzle Oberglas GmbH, TURKIYE SISE VE CAM FABRIKALARI A.S., and West Pharmaceutical Services Inc. |
Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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