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Pharmaceutical Glass Packaging Market to Reach USD 10.76 Billion by 2027; Development of New Glass Types to Boost Growth, Says Fortune Business Insights™

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Pune, India, Feb. 03, 2021 (GLOBE NEWSWIRE) — The global pharmaceutical glass packaging market is set to gain momentum from the increasing development of new types of glasses owing to the high demand from the pharmaceutical industry. This information is given by Fortune Business Insights™ in a new study, titled, “Pharmaceutical Glass Packaging Market Size, Share & COVID-19 Impact Analysis, By Product (Vials & Ampoules, Bottles, Cartridges, and Syringes), By Drug Type (Generic, Branded, and Biologic), and Regional Forecast, 2020-2027.” The study further mentions that the market size was USD 6.31 billion in 2019 and is projected to reach USD 10.76 billion by 2027, exhibiting a CAGR of 6.3% during the forecast period.
Surging Demand for Drugs Associated with COVID-19 to Affect Growth PositivelyThe COVID-19 pandemic has severely affected a large number of industries worldwide. But, the pharmaceutical industry was least impacted as governments of various countries declared it to be essential. Many pharmaceutical glass packaging manufacturers are experiencing high demand for COVID-19-related products. Hence, they are implementing novel technologies to automate their operations. Our research reports will help you better understand the current scenario of the market so that you can adopt the right strategy.
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List of the Leading Companies Profiled in the Global Pharmaceutical Glass Packaging Market are:Corning Inc. (New York, U.S.)Nipro Corporation (Osaka, Japan)SCHOTT (Mainz, Germany)Gerresheimer AG (Dusseldorf, Germany)SGD S.A. (France)Stölzle-Oberglas GmbH (Köflach, Austria)Bormioli Pharma (Philadelphia, U.S.)West Pharmaceutical Services, Inc. (Pennsylvania, U.S.)Shandong Medicinal Glass Co., Ltd. (China)Beatson Clark (U.K.)Şişecam Group (Tuzla, Turkey)Others
How Did We Create This Report?As customer expectations are changing, the aspirations of dealers are also transforming rapidly. Distribution channels are becoming complex. To provide our clients with detailed information, we have conducted extensive primary and secondary research. We have thoroughly investigated each opportunity qualitatively and quantitatively so that our clients get a complete picture of both emerging and existing opportunities in the market for pharmaceutical glass packaging. We have also conducted a techno-economic study.
Drivers & Restraints-Rising Awareness of Health to Favor GrowthThe pharmaceutical industry is expanding rapidly across the globe. The rising expenditure on public healthcare systems, increasing awareness of health, and astonishingly surging population are the prime factors for the pharmaceutical glass packaging market growth in the upcoming years. However, the industry is making more usage of plastic packaging nowadays backed by its impact resistance, cost effectiveness, easy molding, and flexibility properties. It may lower the demand for this type of glass packaging.
Major Segment-Cartridges Segment to Grow Steadily Fueled by High Demand for Self-administered InjectablesBased on the product, the cartridges segment generated 11.0% in terms of the pharmaceutical glass packaging market share in 2019. This growth is attributable to the increasing demand for multi-dosage and self-administered injectables. The bottles segment is expected to remain at the forefront stoked by the rising preference for such pharmaceutical glass packaging as they can contain ophthalmic products, syrups, capsules, and tablets.
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Regional Insights-Increasing Spending on Healthcare to Help North America Remain at the ForefrontGeographically, North America procured USD 2.12 billion in 2019 in terms of revenue. The ongoing expansion of the pharmaceutical industry would propel the regional growth. Besides, the increasing prevalence of various diseases, as well as surging spending on healthcare is likely to propel growth.Europe, on the other hand, is projected to remain in the second position throughout the forthcoming years on account of the rising government guidelines for controlling the transmission of COVID-19. Italy, Germany, and the U.K. are considered to be the main contributors to this growth. In Latin America, governments are implementing new policies, such as favorable tariff protection. Coupled with this, the increasing geriatric population would accelerate the demand for pharmaceutical glass packaging.
Competitive Landscape-Key Players Focus on Launching Innovative Packaging Solutions to Strengthen Their PositionsThe global market houses multiple reputed companies that are presently focusing on developing unique products to cater to the high demand worldwide. Also, the COVID-19 pandemic has resulted in high demand for robust packaging.
Below is one of the latest industry developments:March 2019: SCHOTT unveiled EVERIC™, a new generation of ultra-pure pharmaceutical vials in the market. The new product will allow pharmaceutical companies to gain access to a state-of-the-art blend of attributes to pack biologic drugs. At the same time, they can keep up with the current quality requirements of finish lines and fill.
Browse Detailed Summary of Research Report with TOC:https://www.fortunebusinessinsights.com/pharmaceutical-glass-packaging-market-104710
Detailed Table of Content:IntroductionResearch ScopeMarket SegHouseholdtationResearch MethodologyDefinitions and AssumptionsExecutive SummaryMarket DynamicsMarket DriversMarket RestraintsMarket OpportunitiesKey InsightsKey Market Trends in the Global MarketKey Developments: Mergers, Acquisition, Partnership, etc. .Latest Technological AdvancementInsights on Regulatory ScenarioPorters Five Forces AnalysisQualitative Insights Impact of COVID 19 on Global Pharmaceutical Glass Packaging MarketSupply Chain ChallengesSteps taken by Government/Companies to overcome this impactPotential opportunities due to COVID-19 outbreakGlobal Pharmaceutical Glass Packaging Market Analysis, Insights and Forecast, 2016-2027Key Findings / SummaryMarket Size Estimates and Forecast By Product (Value)Vials & AmpoulesBottlesCartridgesSyringesBy Drug Type (Value)GenericBrandedBiologicBy Region (Value)North AmericaEuropeAsia PacificLatin AmericaMiddle East & AfricaTOC Continued…!
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Have a Look at Related Research Insights:Sterile Medical Packaging Market Size, Share & Industry Analysis, By Material (Plastics, Glass, Metal, Paper & Paperboard), By Type (Thermoform, Trays, Sterile Bottles & Containers, Sterile Closures, Pre-Fillable Inhalers, Pre-Fillable Syringes, Vials & Ampoules, Blister & Clamshells, Bags & Pouches, Wraps), By Sterilization Method (Chemical Sterilization, Radiation Sterilization), By Application and Regional Forecast, 2019-2027Plastics Market Size, Share & COVID-19 Impact Analysis, By Type (Polyethylene, Polypropylene, Polyethylene Terephthalate, Polyvinyl Chloride, Acrylonitrile Butadiene Styrene, Polyamide, Polycarbonate, Polyurethane, Polystyrene), By End-Use Industry (Packaging, Automotive & Transportation, Infrastructure & Construction, Consumer Goods/Lifestyle, Healthcare & Pharmaceutical, Electrical & Electronics), and Regional Forecast, 2020-2027
About Us:Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Contact Us:Fortune Business Insights™ Pvt. Ltd.308, Supreme Headquarters,Survey No. 36, Baner,Pune-Bangalore Highway,Pune – 411045, Maharashtra, India.Phone:US: +1 424 253 0390UK: +44 2071 939123APAC: +91 744 740 1245Email: sales@fortunebusinessinsights.comFortune Business Insights™LinkedIn | Twitter | Blogs
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