Comprehensive Pharmaceutical Glass Packaging Market Analysis 2024: Size, Share, And Key Trends
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The pharmaceutical glass packaging market has demonstrated strong growth, recording a market size of $13.8 billion in 2023, expected to reach $15.03 billion in 2024 at a CAGR of 9.0%. This growth in the historic period is attributed to the increasing production of pharmaceuticals, stringent regulations and quality standards, the preference for glass due to its inert nature, the global aging population, and the rise in chronic diseases. Looking ahead to 2028, the market is set for rapid growth, reaching $22.16 billion, with a CAGR of 10.2%. Factors contributing to this growth include the continued expansion of the pharmaceutical sector, advancements in drug delivery methods, a heightened focus on sustainable packaging, the growing demand for biopharmaceuticals, and ongoing developments in global healthcare infrastructure. Key trends in the forecast period include the rising popularity of ready-to-use packaging, a shift towards biodegradable packaging, the expansion of emerging markets, and increased collaborations and partnerships.
The pharmaceutical glass packaging market is poised for growth, propelled by the expansion of the pharmaceutical industry and the need for safe and efficient packaging solutions for medications and drugs. Pharmaceutical glass packaging ensures the integrity and stability of pharmaceutical products, safeguarding them from external contaminants. The Indian pharmaceutical market’s robust annual growth of 17.7% underscores the increasing demand for pharmaceutical products, with market revenue expected to surpass 12% in 2022. This growth trajectory underscores the pivotal role of pharmaceutical glass packaging in meeting the stringent requirements of the pharmaceutical industry, reflecting promising prospects for market expansion across the forecast period.
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What Are The Key Trends That Influence Pharmaceutical Glass Packaging Market Share Analysis?
Major companies operating in the pharmaceutical glass packaging market are focusing on innovating products, such as the Molded glass vials, to provide a competitive edge in the market. Molded glass vials are glass containers formed using a process of injecting a glob of molten glass into a mold and compressed air is used in the pre-forming process to fill the mold. For instance, in March 2022, SGD Pharma, an India-based company specializes in glass pharmaceutical packaging services launched Ready-to-Use (RTU) sterile 100 ml molded glass vials. Ready-to-Use (RTU) sterile 100 ml molded glass vials are a type of vials designed to package high-value parenteral drugs in large volumes. Ready-to-Use (RTU) sterile 100 ml molded glass vials has no glass-to-glass contact, which reduces particle generation to protect patient safety.it is Compatible with various injectable applications. it has sterility and depyrogenation, ensuring the vials are free from contaminants.
Which Market Players Are Driving Growth In The Pharmaceutical Glass Packaging Market?
Major companies operating in the pharmaceutical glass packaging market report are <b>AGC Inc., Berry Global Inc., Corning Inc., Şişecam, Ardagh Group S.A., Teijin Pharma Ltd., O-I Glass Inc., Hoya Corporation, Albéa Group, Nipro Corp, Aptar Group Inc., Bormioli Pharma SpA, Gerresheimer AG, Piramal Enterprises Ltd., Wheaton Industries Inc., Shandong Pharmaceutical Glass Co Ltd., Hindusthan National Glass & Industries Limited, Quadpack, Yoshino Glass Co Ltd., Stolzle Glass Group, West Pharmaceutical Services Inc., Schott AG, Beatson Clark, Arab Pharmaceutical Glass Co, Acme Vial & Glass Co, United Glass Company, SGD SA, Yamamura Glass Co Ltd., Toyo Glass Co Ltd., NEG Group Co Ltd.</b>
How Is The Global Pharmaceutical Glass Packaging Market Segmented?
The pharmaceutical glass packaging market covered in this report is segmented –
1) By Product: Ampoules, Bottles , Vials, Syringes, Cartridges, Other Product Types
2) By Drug Type: Generic, Branded, Biologic
3) By Material: Type I, Type II, Type III
4) By Application: Oral, Injectable, Nasal, Other Applications
Read The Full Pharmaceutical Glass Packaging Market Report Here
The Pharmaceutical Glass Packaging Global Market Report 2024 provides an overview of the pharmaceutical glass packagingmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The pharmaceutical glass packaging market forecast analyzes pharmaceutical glass packaging market size, pharmaceutical glass packaging market share, leading competitor and their market positions.
The Table Of Content For The Pharmaceutical Glass Packaging Market Include
1. Pharmaceutical Glass Packaging Market Executive Summary
2. Pharmaceutical Glass Packaging Market Segments
3. Pharmaceutical Glass Packaging Market Size And Template Market Growth Rate
4. Key Pharmaceutical Glass Packaging Market Trends
5. Major Pharmaceutical Glass Packaging Market Drivers
……
25. Key Mergers And Acquisitions In The Pharmaceutical Glass Packaging Market
26. Top Pharmaceutical Glass Packaging Companies
27. Pharmaceutical Glass Packaging Market Opportunities And Strategies
28. Pharmaceutical Glass Packaging Market, Conclusions And Recommendations
29. Appendix
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