Global Pharmaceutical Glass Packaging Market Gaining Momentum - Projected to Reach Worth USD 8.01 Billion by 2028: Zion Market Research
NEW YORK, Feb. 16, 2022 /PRNewswire/ -- Zion Market Research, Pharmaceutical Glass Packaging industry earned revenue of nearly US$ 4.18 billion in 2020 and is anticipated to accumulate earnings of approximately US$ 8.01 billion by 2028. Moreover, Pharmaceutical Glass Packaging market is prognosis to record CAGR of almost 8.9% in 2021-2028.
Surge in number of chronic disorders and discovery of new drug molecules has resulted in positive outcomes for pharmaceutical glass packaging market growth in terms of both volume and revenue. Additionally, glass obstructs various kinds of gases such as oxygen and carbon dioxide when it tries to enter primary container. This, in turn, helps in reducing risk of medicine getting contaminated. Apart from this, glass packaging of drugs aids in alleviating medicine degradation due to hydrolysis and oxidation. All these aforementioned aspects will help pharmaceutical glass packaging market register marked growth. Furthermore, glass packaging resists escape of volatile products along with enhancing drug stability, thereby optimizing growth of pharmaceutical glass packaging industry.
Moreover, manufacturers of pharmaceutical glass packaging have increased their production capacities for fulfilling needs of pharmaceutical sector and provide effective, visually appealing, attractive, proficiently designed, new styled, and durable packaging for biological medicines. Necessity of elongating shelf life of drugs for its use in healthcare sector over a long run is predicted to facilitate elevation of pharmaceutical glass packaging market. Outbreak of COVID-19 pandemic has culminated into large demand for pharmaceutical medicines and this has led to exponential surge in growth of pharmaceutical glass packaging market. Improvement witnessed in healthcare amenities and breakthroughs in drug development research will assist market transverse new paths of growth in upcoming years.
Bottles To Lead Product Segment Over Forecast Timespan:
Growth of segment over 2021-2028 can be attributed to its use in packaging drugs along with its availability in different sizes such as small and large bottles. Reportedly, large bottles are utilized for reagent packaging and infusion & transfusion bottles. Small bottles are used for packing oral drugs.
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Report Scope:
Report Attribute | Details |
Market size value in 2020 | USD 4.18 Billion |
Revenue forecast in 2028 | USD 8.1 Billion |
Growth Rate | CAGR of almost 8.9% 2021-2028 |
Base Year | 2020 |
Historic Years | 2016 - 2020 |
Forecast Years | 2021 - 2028 |
Segments Covered | By Product Type, By Application, and By End Use |
Forecast Units | Value (USD Billion), and Volume (Units) |
Quantitative Units | Revenue in USD million/billion and CAGR from 2021 to 2028 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Companies Covered | Gerresheimer AG, Beatson Clark, West Pharmaceutical Services, Inc., Schott AG, Bormioli Pharma S.r.l, Stölzle-Oberglas GmbH, Corning Incorporated, SGD S.A., Nipro Corporation, and Shandong Medicinal Glass Co., Ltd. |
Report Coverage | Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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North America To Account Large Share Towards Regional Market By 2028
Expansion of pharmaceutical glass packaging industry in North America in 2021-2028 is subject to high government investment in pharmaceutical industries across countries such as the U.S. and Canada. Presence of giant manufacturers in region will contribute lucratively towards regional market size.
The Global Pharmaceutical Glass Packaging Market is segmented as follows::
Pharmaceutical Glass Packaging Market By Drug Type Outlook (2021-2028)
- Biologics
- Branded
- Generic
Pharmaceutical Glass Packaging Market By Application Outlook (2021-2028)
- NASAL
- INJECTABLE
- Oral
Pharmaceutical Glass Packaging Market By Product Outlook (2021-2028)
- Syringes & Cartridges
- Bottles
- Vials
- Ampoules
Pharmaceutical Glass Packaging Market By Region Outlook (2021-2028)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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List of Key Players of Pharmaceutical Glass Packaging Market:
- Gerresheimer AG
- Beatson Clark
- West Pharmaceutical Services Inc.
- Schott AG
- Bormioli Pharma
- Stölzle-Oberglas
- Corning Incorporated
- SGD S.A.
- Nipro Corporation
- Shandong Medicinal Glass Co.Ltd.
Press Release For Pharmaceutical Glass Packaging Market: https://www.zionmarketresearch.com/news/pharmaceutical-glass-packaging-market
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Browse through Zion Market Research's coverage of the Global Packaging Industry
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