Pharmaceutical glass packaging market to grow by USD 5,742.88 million from 2022 to 2027

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21 Jul, 2023, 04:00 ET

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NEW YORK, July 21, 2023 /PRNewswire/ -- The pharmaceutical glass packaging market is set to grow by USD 5,742.88 million from 2022 to 2027 progressing at a CAGR of 6% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The increase in R&D spending in the pharmaceutical industry drives the growth of the market during the forecast period. Various pharmaceutical companies make significant R&D investments, with a pharmaceutical company typically investing between 15% and 20% of its revenue in research and development. Hence, such factors boost the market growth during the forecast period. - Here is an Exclusive report talking about Market scenarios with a historical period (2017-2021) and the forecast period (2023-2027). Download Sample Report in minutes!

The pharmaceutical glass packaging market covers the following areas:

The report on the pharmaceutical glass packaging market provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis.

Pharmaceutical glass packaging market 2023-2027 - Market Dynamics

The expansion of manufacturing facilities is a trend influencing the pharmaceutical glass packaging market. Market vendors expand their manufacturing facilities to keep up with the demand for pharmaceutical products like medicines, vaccines, and other goods. For instance, the announcement made by Schott AG in November 2021 in its new pharma glass tubing factory in Jinyun, China, to meet the growing demand for high-quality glass tubing for primary pharmaceutical packaging. Hence, the growing manufacturing facilities boost the market growth during the forecast period.

The risk of counterfeiting challenges the growth of the pharmaceutical glass packaging market. The lives of consumers may be in danger from counterfeit drugs as well as vendors may also suffer financially as a result. Furthermore, the vendors increasingly invest and adopt anti-counterfeit techniques in packaging, such as security printing (comprises micro text, watermark, and latent /image), track and trace (such as barcodes and serialization), covert identifiers and trace (includes micro taggants and micro-mapping), and holography (holograms, embedded barcodes, logos, and hidden messages). But this increases the production cost, affecting the profit margins. Hence, such challenges impede market growth during the forecast period.

Pharmaceutical glass packaging market 2023-2027: Market Segmentation

The pharmaceutical glass packaging market analysis includes the type (generic, branded, and biologic), product (bottles, ampoules and vials, syringes, and cartridges), and geography (North America, APAC, Europe, South America, and Middle East and Africa).

This report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters- View Sample ReportCompanies Mentioned

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Pharmaceutical glass packaging market scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 6%

Market growth 2023-2027

USD 5,742.88 million

Market structure

Fragmented

YoY growth 2022-2023(%)

5.6

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

North America at 34%

Key countries

US, China, India, Russia, and UK

Competitive landscape

Leading Vendors, Market Positioning of Vendors, 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., Sisecam, Stevanato Group S.p.A, West Pharmaceutical Services Inc., and Stoelzle Oberglas GmbH

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Key Topics Covered:

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 Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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