LOS ANGELES - December 4, 2019 - (Newswire.com)
QY Research has announced the release of a new report on the global pharmaceutical glass packaging market. Carrying the title “Global Pharmaceutical Glass Packaging Market Insights, Forecast to 2025,” the report offers a comprehensive and accurate analysis of the global market growth, competition, segments, regions, consumption, sales, production, revenue, and other factors. According to the report, the total revenue of the global pharmaceutical glass packaging market is projected to increase to more than US $4.5 billion by the end of 2025 from over US $3.0 billion reached in 2018. The global pharmaceutical glass packaging market is expected to grow at a moderate CAGR of nearly 4.8% between 2019 and 2025.
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Need for Protective Packaging for Drugs Expected to Increase Global Demand
Glass is used as a primary material for pharmaceutical packaging because of its impressive chemical resistance, high degree of impermeability to moisture and air, and other favorable properties. Pharmaceutical glass packaging products help with the high level of protection for packaged drugs and their easy inspection. However, the availability of substitute materials, such as plastic could hamper the demand in the global pharmaceutical glass packaging market.
Glass Ampoules as Preferred Packaging Material for Cytotoxic Chemotherapy Medicines
The report offers an accurate and detailed analysis of product type segments of the pharmaceutical glass packaging market, including ampoules, glass vials, cartridges, and others. It also provides analysis on the application segments of the global pharmaceutical glass packaging market, such as transfusions, injectables, and others. Ampoules find application in the packaging of injection drugs. The demand for ampoules could increase in the global pharmaceutical glass packaging market due to a high preference for glass material for the packaging of cytotoxic chemotherapy drugs used in cancer treatment.
High Consumption of Generics Anticipated to Strengthen Demand in North America
North America is anticipated to increase the demand for pharmaceutical glass packaging due to the rising consumption of generic drugs. Patent expiration of branded drugs and the affordable cost could be among key factors increasing the consumption of generics. Europe is also expected to become an important regional market for pharmaceutical glass packaging due to the heavy presence of popular players and the strong growth of the pharmaceutical industry. Nonetheless, emerging countries such as India, Japan, and China could show high growth potential because of the increase in the incidence of chronic diseases, the need to improve the shelf life of pharmaceuticals, and improvements in the healthcare industry.
Manufacturers Predicted to Give More Importance to Innovation to Gain Growth
Some of the key manufacturers of pharmaceutical glass packaging products are Gerresheimer, West Pharma, SGD, Nipro, Ompi, Ardagh, Schott, Bormioli Pharma, and Shandong PG. Manufacturers are expected to put more emphasis on innovation and use novel technologies to achieve a position of strength in the global pharmaceutical glass packaging market.
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Global Pharmaceutical Packaging Material Market
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Original Source: Global Pharmaceutical Glass Packaging Market Anticipated to Reach Over US $4.5 Billion in Revenue by 2025
