Los Angeles, December 4, 2019 – QY Research has announced the release of a new report on the global pharmaceutical glass packaging market. Carrying the title “Global Pharmaceutical Glass Packaging Market Insights, Forecast to 2025,” the report offers comprehensive and accurate analysis of the global market growth, competition, segments, regions, value chain, consumption, sales, production, revenue, and other important factors. According to the report, the total revenue of the global pharmaceutical glass packaging market is projected to increase to more than US$4.5 Bn by the end of 2025 from over US$3.0 Bn reached in 2018. The global pharmaceutical glass packaging market is expected to grow at a moderate CAGR of nearly 4.8% between 2019 and 2025.
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Need for Protective Packaging for Drugs Expected to Increase Global Demand
Glass is used as a primary material for pharmaceutical packaging because of its impressive chemical resistance, high degree of impermeability to moisture and air, and other favorable properties. Moreover, pharmaceutical glass packaging products help with high level of protection for the packaged drugs and their easy inspection. However, availability of substitute materials such as plastic could hamper the demand in the global pharmaceutical glass packaging market.
Glass Ampoules as Preferred Packaging Material for Cytotoxic Chemotherapy Medicines
The report offers accurate and detailed analysis of product type segments of the global pharmaceutical glass packaging market, including ampoules, glass vials, cartridges, and others. It also provides analysis on application segments of the global pharmaceutical glass packaging market such as transfusion, injectable, and others. Ampoules find application in the packaging of injection drugs. The demand for ampoules could increase in the global pharmaceutical glass packaging market due to high preference for glass material for the packaging of cytotoxic chemotherapy drugs used in cancer treatment.
High Consumption of Generics Anticipated to Strengthen Demand in North America
North America is anticipated to increase the demand for pharmaceutical glass packaging due to the rising consumption of generic drugs. Patent expiration of branded drugs and affordable cost could be among key factors increasing the consumption of generics. Europe is also expected to become an important regional market for pharmaceutical glass packaging due to the heavy presence of popular players and strong growth of the pharmaceuticals industry. Nonetheless, emerging countries such as India, Japan, and China could show high growth potential because of the increase in the incidence of chronic diseases, need to improve the shelf life of pharmaceuticals, and improvements in the healthcare industry.
Manufacturers Predicted to Give More Importance to Innovation to Gain Growth
Some of the key manufacturers of pharmaceutical glass packaging products are Gerresheimer, West Pharma, SGD, Nipro, Ompi, Ardagh, Schott, Bormioli Pharma, and Shandong PG. Manufacturers are expected to put more emphasis on innovation and use of novel technologies to achieve a position of strength in the global pharmaceutical glass packaging market. They could also form partnerships and sign long-term contracts with drug manufacturers for sales and growth opportunities.
QY Research established in 2007, focus on custom research, management consulting, IPO consulting, industry chain research, data base and seminar services. The company owned a large basic data base (such as National Bureau of statistics database, Customs import and export database, Industry Association Database etc), expert’s resources (included energy automotive chemical medical ICT consumer goods etc.
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