The "pharmaceutical glass packaging market" size is estimated to reach at a high CAGR during the forecast period 2022-2029
Pharmaceutical glass packaging refers to those primary pharmaceutical packaging products composed of glass, which finds application in the containment, preservation, and protection of pharmaceutical preparations. Additionally, pharmaceutical glass packagings offer added advantages such as smoother line operations, reduction in particulate generation, durability, and uniform chemistry. Numerous types of pharmaceutical glass packagings are available in the market nowadays, ranging from bottles, ampoules, vials, among others.
Pharmaceutical Glass Packaging Market Dynamics
The pharmaceutical industry's extensive expansion in product development and sales, followed by the growing consumption of generic drugs among customers, acts as major market drivers for the pharmaceutical glass packaging market.
Growth in the pharma industry and increased consumption of generic drugs
As modernity switched to an automated era of less physical exhaustion and more stress, the number of lifestyle diseases and the need for external health supplements grew. Further, due to numerous factors still unknown to humankind, new and new diseases are also popping up now and then. Due to these concerns, the importance of the pharmaceutical industry and its development has become a primary concern for the survival of humanity.
The modern pharmaceutical market is a million-dollar market that is expanding at a very swift pace. For instance, as per the data provided by the government of Canada, the total value of pharmaceutical sales rose by 35.3% to reach US$23.64million between the period of 2011 to 2019. Further, due to growing health concerns among laymen, the consumption of generic drugs also increased significantly. For instance, the expenditure on drugs in Canada rose from US$ 30.20 million to US$ 31.86 million in 2020.
Nonetheless, as the market and consumption, and demand grew, the need for packaging and storage apparatus also increased significantly. As a result, the respective factor could be considered as a market drive that boosts the market prospects of the global pharmaceutical glass packaging market.
An increased logistic expense due to the heavyweight of glass containers and the ease of breaking the products restricts the market growth
The demand and sales in the glass packaging market are drastically affected by two major restraining parameters: the enhanced transportation duty inflicted on products contained within glass containers due to the heavyweight of these containers and the fragile nature of glass containers to break easily, thus compromising the product integrity.
Since transportation cost accounts for almost 10% of any product, it plays a crucial role in determining the final price of any product, mainly if the products are widely distributed across the globe. Further, as transportation cost varies with a load of transported material, the heaviness of glass containers could increase the transportation cost of the product, thereby reducing the profit margin of the manufacturers. As a result, the demand for glass storage materials tends to get restricted heavily.
Additionally, the loss of product, particularly on long-distance transportation due to the ease at which glass could crack, is another factor that forces manufacturers that utilize glass containers to opt for alternate packaging solutions such as plastic, among others. As a result, the respective factor should be conclusively said as a significant market restraint for the global pharmaceutical glass packaging market.
COVID-19 Impact Analysis
Though the COVID-19 pandemic disrupted the production and distribution in the global pharmaceutical glass packaging market, the overall pandemic experience on the global pharmaceutical glass packaging market is hugely positive. The primary reason for this constructive effect is the rise experienced in demand for medicines, particularly vaccines. For instance, as per data, around 7620 million COVID-19 vaccines have been distributed the world over until November 19, 2021.
Since these vaccines are extremely sensitive to temperature, external contamination, and tampering, the need to protect these doses from these damages becomes a priority. Since pharmaceutical glass packaging products such as ampules are most suited for this purpose, the respective growth in the production of vaccines raises the demand for the individual products, thereby increasing the overall direction and sales prospects of the global pharmaceutical glass packaging market.
The pharmaceutical glass packaging market is classified into vials, bottles, cartridges, syringes, and ampoules by product type.
Ampoules dominate the segment due to their applications in the storage of parenteral preparations.
Parenteral preparations refer to the medications that are delivered by injecting them directly into the blood vessels. Unlike non-parenteral preparations, parenteral preparations directly enter into the blood and organs without any first-phase action. As a result, the storage of parenteral preparations needs to be proper to prevent contamination. Since parenteral preparations are extremely sensitive to temperature and external impurities, packaging materials with very low permeability are required to prevent the products from getting contaminated. Additionally, since parenteral preparations are costly and sometimes extremely regulated, tamper-proofing these medications play a crucial role. Since ampules serve both these purposes correctly, the demand for ampules is growing significantly enough to dominate other segments
For instance, as per Global Trade Centre, the imported quantity o glass ampoules grew from 1,958 units in 2018 to 2,965 units in 2019. The numbers again witnessed a large-scale rise to 3,669 units in 2020.
A rapid surge in the pharmaceutical industry in North America helps the respective region to dominate the global pharmaceutical glass market
As per the data published by AstraZeneca, a global biopharmaceutical company, North America, experienced a minimum of 6.4% CAR growth in 2020 compared to the previous year. The crux of this growth rests on factors such as the presence of pharmaceutical giants in the region, high health awareness among the region's people, access to high valued drugs, and high per capita expenditure on the health care sector. Further, the high GDP of the region also fuels the growth of the pharmaceutical industry in the North American region.
As the pharmaceutical industry is rapidly expanding in the region, the need for packaging products for the storage of developed or manufactured drugs also becomes a priority. Though alternative packaging solutions are available, glass packaging materials' low permeability and extensive protection to pharmaceutical products are unique and irreplaceable. As a result, the demand for pharmaceutical glass packaging increases with the growth experienced in the region's pharmaceutical industry. Since North America dominates the pharmaceutical industry in terms of development, the same region can dominate other regions in the pharmaceutical glass packaging market.
The Pharmaceutical Glass Packaging Market is extremely competitive and has grown exponentially with modern manufacturing and materials technologies. In addition, some of the key players contributing to the market's growth areCorning Incorporated, SCHOTT AG, Amcor plc, NIPRO, SGD Pharma, Stoelzle Glass Group, Bormioli Pharma S.p.A., West Pharmaceutical Services, Beatson Clark, APG Europe, and several local as well as global players. The companies are adopting various new strategies to dominate the market, such as launching new schemes, acquisitions, and collaborations, contributing to the global growth of cloud security for the education market.
For instance, On August 18, 2021, SCHOTT AG announced joining forces with Serum Institue of India, a vaccine producer, and manufacturer of highly effective biologics. The partnership would produce pharmaceutical glass packaging products such as vials, ampoules, and syringes utilized with vaccines produced by the Serum Institute of India.
Overview: Corning Incorporated is a market leader in glass and ceramic sciences, with expertise in optical physics, deep manufacturing, and engineering. The company was founded in 1851 and owns around 170 years of market experience. Corning Incorporated is headquartered in New York, the U.S. and has collaborations with market leaders from numerous industrial segments such as automotive, pharmaceuticals, electronics, among others. The company's product portfolio comprises advanced optics, display glass, environmental technology, lie sciences, optical communications, and pharmaceutical technologies.
Component Portfolio: The Company offers various services, including:
Valor Glass: The product is an advanced glass-based solution utilized in pharmaceutical glass packaging used in the storage of modern vaccines and drugs. The product is made with the company's signature lass sciences comprised of optical physics, vapor deposition, and extrusion.
Key Development: On March 26, 2021, Corning Incorporated received an additional investment of US$ 57 million to increase the production capacity of glass tubing and vials due toU.S. strategy to improve the vaccination rates in the country.
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