Dublin, June 02, 2020 (GLOBE NEWSWIRE) -- The "Pharmaceutical Glass Packaging Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The pharmaceutical glass packaging market was valued at USD 15.6 billion in 2019 and is expected to reach USD 23.35 billion by 2025, at a CAGR of 6.5% over the forecast period 2020 - 2025. Glass packaging is one of the primary packaging material for the pharmaceutical industry as it limits the alkalinity and hydrolytic resistance of the glass container. Also, glass containers offer high transparency, which allows easy inspection of its contents, enables protection because it is relatively impermeable to air and moisture and chemical resistance to most of the medicinal products.
The economies across the globe are growing, especially in the Asia-Pacific region. With this, spendings on medicines are also increasing year on year. IQVIA states in its latest report that, in 2018, this spending has reached USD 1.3 trillion globally and is expected to reach USD 1.3 trillion by the year 2023. This is one of the factors forcing for the growing pharmaceutical industry worldwide and ultimately reflecting the increasing demand for the pharmaceutical glass packaging market.
According to the Institute of Scrap Recycling Industris, Inc., the recycled glass is the substitute of 70% of the raw material used in making new glass. The initiatives of glass recycling are adding value to glass as a commodity.
Over 130 million tonnes of glass is currently being produced annually, out of which, 46% are of container glass. The recycling for container glass is the highest, which estimated to be 32% globally (Recovery Magazine). Effective recycling is driving the pharmaceutical industry for adopting glass packaging solutions apart from its other benefits.
However, the growing demand for alternative materials like plastics and its polymers, which are also used for sterilized packagings in the pharmaceutical industry is limiting the growth of the pharmaceutical glass packaging market to an extent.
Key Market Trends
Ampoules Packaging to Hold a Significant Share
- In glass ampoules, medication is only in contact with glass, and the packaging is 100% tamper-proof. Therefore, over the years, these ampoules have been widely used in packaging injection drugs. For instance, Helixor, which contains Mistletoe therapy and is an integral part of integrative oncology, uses glass ampoules to maintain the characteristics of the medicine.
- In the case of cancer treatment, the chemotherapy, which includes traditional chemotherapeutic agents that are cytotoxic, requires glass ampoules. According to WHO, the cytotoxic medicines, such as calcium folinate, are mostly packed in an injection 3 mg/ml in a 10ml ampoule. Therefore, to maintain the properties of the medications, glass is a preferred material.
- Furthermore, according to Gerresheimer AG, its revenue from glass packaging as primary material segment had recently increased in 2018, after witnessing a downfall in 2017.
- Gerresheimer has two plants at its site in the Indian city of Kosamba. The recently constructed Gerresheimer plant, in 2019, manufactures vials and ampoules for the pharmaceutical industry using tubular glass, while Neutral Glass makes molded glass products for pharmaceutical applications, and, only very recently, put a new high-performance furnace into operation.
Europe Expected to Grow Significantly
- According to FEVE, the European Container Glass Federation, container glass production among FEVE members grew 217 thousand tonnes in 2018 from the previous year and reached 1,755 thousand tonnes. Also, the European pharmaceutical sales account for 20% of global pharmaceutical sales in 2018, stated in a report by AstraZeneca.
- The ready-to-use packaging solution like prefilled syringes facilitates, vials and ampoules, pharmaceutical companies to react faster to new industry trends without building specific manufacturing capabilities. To serve the growing demand, major companies like SCHOTT invested EUR 12 million in a newly established manufacturing plant in Russia, which approximately serves 500 million vials and ampoules every year.
- Europe is currently second, after North America with a significant share of the global market. Although the emergence of China and other Asia-Pacific nations is a threat, the increasing need for faster production and enhanced shelf appeal are driving the market ahead in the forecast period.
Competitive Landscape
The pharmaceutical glass packaging market is inclined towards fragmentation. The surge in government initiatives and increasing demand for injectables and other medicines provide lucrative opportunities in the glass packaging solutions in the pharmaceutical industry. Overall, the competitive rivalry among existing competitors is high. Moving forward, expansion and mergers of large companies in different pharmaceutical industries are expected to increase the demand in the market.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format.
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- 3 months of analyst support.
Key Topics Covered:
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Intensity of Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Industry Value Chain Analysis
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Growth of the Pharmaceutical Industry in Emerging Economies
5.1.2 Commodity Value of Glass Increased with Recyclability
5.2 Market Restraints
5.2.1 Increased Relevance of Alternate Material
6. MARKET SEGMENTATION
6.1 By Product
6.1.1 Bottles and Containers
6.1.2 Vials
6.1.3 Ampoules
6.1.4 Cartridges and Syringes
6.2. By Geography
6.2.1 North America
6.2.1.1 United States
6.2.1.2 Canada
6.2.2 Europe
6.2.2.1 Germany
6.2.2.2 United Kingdom
6.2.2.3 France
6.2.2.4 Italy
6.2.2.5 Rest of Europe
6.2.3 Asia-Pacific
6.2.3.1 China
6.2.3.2 Japan
6.2.3.3 India
6.2.3.4 Rest of Asia-Pacific
6.2.4 Latin America
6.2.4.1 Brazil
6.2.4.2 Argentina
6.2.4.3 Rest of Latin America
6.2.5 Middle East & Africa
6.2.5.1 Saudi Arabia
6.2.5.2 South Africa
6.2.5.3 Rest of Middle East & Africa
7. COMPETITIVE ANALYSIS
7.1 Key Vendor Profile
7.1.1 Gerresheimer Glass Inc.
7.1.2 Corning Incorporated
7.1.3 Nipro Corporation
7.1.4 SGD SA
7.1.5 Stlzle-Oberglas GmBH
7.1.6 Bormioli Pharma SpA
7.1.7 West Pharmaceutical Services Inc.
7.1.8 Schott AG
7.1.9 Shandong Medicinal Glass Co. Ltd
7.1.10 Beatson Clark
7.1.11 Arab Pharmaceutical Glass Co.
7.1.12 Piramal Enterprises
7.1.13 iecam Group
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
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