Pharmaceutical Glass Packaging Market Overview:
The various forms of glass packaging are vials, bottles, cartridges, syringes and ampoules and can be in either small or larger sizes. Small sized bottles are the most popular variant of the lot and hold 35% of the global market share. Ampoules are a promising segment that is set to register a CAGR growth rate of 8.4% in terms of revenue up till 2023. Prefilled syringes are also in demand lately because they reduce the risk of contamination of the biologics.
Pharmaceutical Glass Packaging Market Size:
Pharmaceutical Glass Packaging Market was valued at USD XX.XX Million USD in 2018 and is expected to reach USD XX.XX Million, with increasing at a CAGR of X.X% between 2018 and 2024.
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Pharmaceutical Glass Packaging Market Regional Report:
North America is the largest market for pharmaceutical glass manufacturing with a market share of 38% in 2016. US is the highest revenue generating of the lot. Initiatives in Europe aimed at increasing support for safer medicine has propelled the market share to 21.5% of the global market.
Pharmaceutical Glass Packaging Market Competition Analysis:
The industry is driven highly on intense R&D and involves high level investments. This brings about alliances like Corning Inc. collaboration with Merck and Pfizer developed Valor aluminosilicate glass, which can be used as a replacement for conventional Type I alkali borosilicate glass. This helped manufacturer’s combat shortcomings like breakage, variation in hydrolytic performance, and delamination, improving the drug efficiency substantially.
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Pharmaceutical Glass Packaging Market Threats, and Overcomes:
Apart from this, glass is a recyclable material whose raw materials are available easily and does not lose its properties on recycling. Although, the glass packaging for pharmaceutical industry is facing a threat from the plastics industry, with the world moving towards more sustainable living, this option has appealed to the markets on a wider platform.
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Pharmaceutical Glass Packaging Market Key Players:
Some key players of the market are Gerresheimer AG, Nipro Corporation, SGD Pharma, Shandong Qidu Pharmaceutical Co.,Ltd, Bormioli Rocco, Ardagh Group S.A, West Pharmaceutical Services, Inc, Piramal Glass, and Stölzle-Oberglas Gmbh.
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