Pharmaceutical Glass Packaging Market Size, Share & Trends Analysis Report By Product (Vials, Bottles, Cartridges & Syringes, Ampoules), By Drug Type (Generic, Branded, Biologic), By Region, And Segment Forecasts, 2023 - 2030

Pharmaceutical Glass Packaging Market Size, Share & Trends Analysis Report By Product (Vials, Bottles, Cartridges & Syringes, Ampoules), By Drug Type (Generic, Branded, Biologic), By Region, And Segment Forecasts, 2023 - 2030

Pharmaceutical Glass Packaging Market Growth & Trends

The global pharmaceutical glass packaging market size is expected to reach USD 37.6 Billion by 2030 and is expected to expand at 9.6% CAGR from 2023 to 2030, according to a new study by Grand View Research, Inc. The factors expected to drive the growth are the high recyclability of the glass, chemical inertness, increasing developments in the pharmaceutical industry, and the growing demand for vials for COVID vaccines.

The pharmaceutical industry is witnessing a significant transition and over the past few years, the focus on the development of pharmaceutical drugs has grown significantly. The growing research environment in emerging economies such as India, China, and Brazil has led to a gradual migration of economic and research activities from developed markets to these emerging markets. Since 2006, the United Nations Industrial Development Organization has provided advisory services and technical cooperation to develop local pharmaceutical production in developing countries. This promises to boost the pharmaceutical sector in these countries thereby driving the pharmaceutical plastic packaging industry.

However, the pharmaceutical glass packaging industry is expected to witness some challenges in the forthcoming years since glass is an expensive raw material. Plastic bottles are being used for pharma packaging which is made of lightweight, clear, and durable plastic belonging to the polyester family. Furthermore, developments are being carried out to develop material that overcomes the shortcomings of glass and plastic which can negatively impact the pharmaceutical glass packaging industry. For instance, in May 2022, Mitsubishi Gas Chemical Company, Inc. and BD (Becton, Dickinson and Company) agreed to develop Oxycapt, a multilayer material integrating features of plastic and glass for prefilled syringes.

Pharmaceutical-grade silicone-based fluids are being extensively applied on the inner surface of glass vials and ampoules to allow the draining of vaccines from the glass packaging products and maintain the efficacy and safety of Active Pharmaceutical Ingredients (APIs). In January 2022, West Pharmaceutical Services, Inc. entered into a technology and supply agreement with Corning Incorporated to expand Valor Glass technology for developing advanced injectable drug packaging and delivery systems.

Pharmaceutical Glass Packaging Market Report Highlights

• The generic drug type segment is projected to grow at a CAGR of 10.5% over the forecast period in terms of revenue. The main factor contributing to their market growth is pricing and often the shortage of an established pharmaceutical product in the market. Most generic medicines tend to cost less than their brand-name counterparts and provide effective results similar to their brand-name counterparts
• Atmospheric emissions are caused by the melting of raw materials and combustion of natural gas in glass production. The negative environmental impact is expected to drive pharmaceutical glass manufacturers to develop sustainable glass production processes. For instance, in November 2021, Bormioli Pharma S.p.A. inked a 10-year agreement with Glass Futures to jointly carry out research and development of new low-emission technologies for glass production
• Glass delamination has been a major concern for pharmaceutical companies. It includes the appearance of glass lamellae or visible flakes which can lead to an increased number of recalls and health risks. The development of glass vials by reducing the alkali content reduces the chances of delamination and breakage. Furthermore, pharmaceutical glass packaging is manufactured by molded processes offering greater design flexibility and high mechanical resistance which reduces the breakage risk
• In May 2021, Nipro Europe Group Companies acquired Piramida, a Croatian pharmaceutical glass packaging manufacturer to strengthen its presence in Central Europe
• Companies in the pharmaceutical glass packaging industry are trying to increase their production capacity to cater to the growing pharmaceutical requirement. In October 2022, SCHOTT Group announced that it began construction of a new pre-fillable glass syringe (PFS) production facility inLukácsháza, Hungary

Please note The report will be delivered in 3-8 business days upon order notification.