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The global pharmaceutical glass packaging market size was USD 6.31 billion in 2019 and is projected to reach USD 10.76 billion by 2027, exhibiting a CAGR of 6.3% during the forecast period.
The pharmaceutical industry is rising at an exceptional rate. The need for packaging in this industry is mainly reliant on increasing both communicable and non-communicable diseases and their treatments around the world. Pharmaceutical glass packaging products are highly regulated as they need to guarantee the protection of medicines from physical damage, biological contamination, and external influences that might lead to contamination. This glass packaging aids in increasing the shelf life of the product and is also used for promotions. An increasing demand for pharmaceutical drugs and medicines, combined with technological advancements in the pharmaceutical industry, would directly lead to the growth of this market.
COVID-19 Pandemic to Have Minimum Impact Backed by High Demand for Pharmaceutical Products
Several industries were distressed amidst the COVID-19 pandemic due to supply chain disruptions and shortage of raw materials, but the pharmaceutical industry remained unaffected. Pharmaceutical companies were excused from the restrictions of lockdowns due to their activities being essential for the community. This industry was operating to manufacture healthcare products and support them; various packaging companies were also released from the lockdown restrictions. Companies in the market are serving the propelling demand for packaging from COVID-19-related pharmaceutical products by automating their operations and allotting minimum human resources to minimize virus transmission.
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Adoption of New Glass Types to Minimize Product Contamination will Offer Growth Opportunities
The development of new glass types will lead to high demand for pharmaceutical glass packaging. A different type of network former is being used in the manufacturing of these glasses in order to eliminate the need for boron. When used in conventional glasses, boron volatilizes during the manufacturing of vials, thereby creating different chemistry in the drug contacting region of the packaging, which can lead to glass flake formation. The newly developed glass does not contain boron, resulting in chemically durable and uniform glass chemistry. The boron-free glass is introduced by Corning Inc. under the brand name Valor. Furthermore, glass packaging manufacturers are using permanent engraving to minimize the counterfeiting of the “year of manufacture,” which is anticipated to fuel the demand.
Growth of Pharmaceutical Industry around the Globe to Drive the Demand
The pharmaceutical industry is growing at a rapid pace, mainly in developing countries such as China, India, and Brazil, as well as developed countries such as the U.S., U.K., and Germany. Factors such as an exponential growth of population, rising awareness towards health, and increasing spending on public healthcare systems are projected to surge the demand for glass packaging in the pharmaceutical industry. Additionally, increasing innovations in technologies and the implementation of advanced manufacturing processes are expected to surge the glass consumption in the pharmaceutical industry. Favorable properties of glass such as high recyclability, transparency, and chemical inertness are set to surge the product demand in the forthcoming years. Glass packaging is impermeable to moisture and air and can be easily sterilized, thereby supporting the growth of the market.
Increasing Adoption of Alternative Packaging Materials to Restrict Growth
Glass packaging is increasingly being substituted by plastic in the pharmaceutical industry. Plastics offer properties such as flexibility, easy molding, cost-effectiveness, impact resistance, and other protective properties. The bottles and cartridges made from plastics are low cost, lightweight, and easy to transport in comparison with the ones made from glass. The use of plastics for pharmaceutical packaging negates the chances of accidental breakage owing to the high impact resistance of plastic. Additionally, the high flexibility of plastics minimizes the need for tertiary packaging of the pharmaceutical product, thereby reducing the manufacturing and transportation cost. The above-mentioned factors are restraining the pharmaceutical glass packaging market growth.
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Bottles Segment to Account for the Major Share during the Forecast Period
Based on the product, the market is categorized into vials & ampoules, bottles, cartridges, and syringes. Among these, the bottles segment is the largest and is anticipated to remain at the forefront during the forecast period. The growth of this segment is attributed to its chemical inertness, rigidity, and superior protective qualities. Additionally, bottles have gained preference in the packaging of solid as well as liquid pharmaceutical preparations such as tablets, capsules, syrups, and ophthalmic products. The increasing demand for bottles in the pharmaceutical industry is expected to drive market growth.
The vials & ampoules segment is anticipated to exhibit rapid growth during the review period. Glass vials prevent atmospheric gases such as carbon dioxide and oxygen from damaging the product contained. Additionally, these vials are inert to the majority of chemicals and hence, prevent the product from undergoing oxidation or hydrolysis. Furthermore, they are easy to clean and are resistant to particulates, further leading to the growth of the segment.
The syringes segment is estimated to have a high growth rate in the forecast period owing to the rising need for immediate treatment with the increasing prevalence of cardiovascular diseases. The surging demand for self-administered and multi-dose injectables will lead to the growth of the cartridges segment during the forthcoming years.
Generic Segment to be the Fastest-growing Drug Type in the Market
Based on the drug type, the market is classified into generic, branded, and biologic. Generic is the fastest-growing drug type in the market. Generic drugs are low-cost in comparison with branded drug products with similar compositions. Initiatives by the government for promoting the use of generic drugs is surging its demand. Furthermore, patent expiration of branded drugs, along with the rising demand from developing countries, is responsible for the growth of the generic segment, therefore strengthening the pharmaceutical glass packaging market.
The high effectiveness of biologic drugs for the treatment of chronic and autoimmune diseases is expected to drive the growth of the biologic segment.
North America Pharmaceutical Glass Packaging Market Size, 2019 (USD Billion)
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The global pharmaceutical glass packaging market size in North America stood at USD 2.12 billion in 2019, accounting for the largest share in the market. The U.S. is the major contributor to this region. The growth of the market in the region is owed to the rapid expansion of the pharmaceutical industry. Also, the increasing spending on healthcare and the growing prevalence of infectious diseases is driving the key market in this region.
Europe is the second-largest region in the market, in which Germany, the U.K., and Italy have a substantial influence on growth. This is attributed to the implementation of new guidelines by governments to control the transmission of infectious diseases, including COVID-19. In Asia Pacific, China, Japan, and India are the leading countries contributing to the growth of the market. Increasing investments in the pharmaceutical industry and the expansion of pharmaceutical manufacturing companies in these countries are estimated to offer multiple growth opportunities to the market in this region.
Factors such as a rise in the geriatric population and government benefits such as favorable tariff protection are anticipated to surge the market growth in Latin America. The increasing expansion of pharmaceutical manufacturing capabilities and a rise in healthcare awareness will lead to the growth of the market in the Middle East & Africa.
Key Players Focus on Using Organic and Inorganic Growth Strategies to Maintain Their Positions in the Market
At present, the competitive landscape of this market depicts a fragmented scenario with the top 10 companies accounting for major shares in the market. Key players in the market have invested a considerable amount of resources in the research and development of several packaging products and technologies to produce them. Gerresheimer AG offers diversified product portfolios with varying sizes of bottles and ampoules. SCHOTT, on the other hand, has invested in safe & novel technology development and superior operational efficiency for pharmaceutical glass packaging applications.
KEY INDUSTRY DEVELOPMENTS:
An Infographic Representation of Pharmaceutical Glass Packaging Market
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The pharmaceutical glass packaging market research report provides a detailed analysis of the market. It focuses on key aspects such as leading companies, product types, materials used in packaging, sterilization method adopted, and leading applications of the product. Besides this, it offers insights into the market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the market over recent years.
Value (USD Billion)
By Drug Type
Fortune Business Insights says that the global market size was USD 6.31 billion in 2019 and is projected to reach USD 10.76 billion by 2027.
In 2019, the market value stood at USD 6.31 billion.
Registering a CAGR of 6.3%, the market will exhibit significant growth in the forecast period (2020-2027).
The bottles segment is expected to lead the market during the forecast period.
The growth of the pharmaceutical industry around the globe is the key factor driving the market.
North America held the highest market share in 2019.
Chemical inertness and high recyclability of glass are expected to drive the adoption.
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