Questions? +1 (202) 335-3939 Login
Trusted News Since 1995
A service for healthcare industry professionals · Thursday, March 28, 2024 · 699,410,622 Articles · 3+ Million Readers

Pharmaceutical Glass Packaging Market Trends, Statistics, Growth, and Forecasts

Globalmonitor

Globalmonitor

he global pharmaceutical glass packaging market was valued at USD 25.32 billion in 2020 and is expected to reach a value of USD 32.12 billion by 2025

SEATTLE, WASHINGTON, UNITED STATES, December 5, 2020 /EINPresswire.com/ --
Market Overview
The glass packaging manufacturers and suppliers are focusing on shifting their base to China, India, and Brazil, as a result of increasing opportunities offered by the pharmaceutical industry in these countries, especially in the generics sector.

Pharmaceutical packaging accounts for a very small proportion of waste due to the majority share being used for glass as a material. Additionally, glass packaging is also 100% recyclable, which makes it a desirable packaging option from the environmental point of view. Also, colored glass, such as amber glass and red-colored glass, can protect its contents from ultraviolet rays and certain wavelengths. Glass containers can easily be sterilized using heat, making them an ideal material for pharmaceutical packaging.​ PET has started to become the preferred packaging system for solid oral formulations. Where aluminum and plastic collapsible tubes are being preferred for semi-solid formulations, glass remains the major shareholder for liquid formulations. In the United States, as per the Food and Drug Administration (FDA) regulations, the unit dose plastic ampoules for pharmaceutical packaging have been strictly mandated and accounted for a significant percentage of the overall ampoules. These fixed dosages, further, offer benefits in terms of assisting pharmaceutical companies to control costs by reducing drug overfill, and inefficiencies in the manufacturing process.

Request overview report @ https://www.globalmonitor.us/product/pharmaceutical-glass-packaging-market

Segmentation by Product
Glass bottles and containers used in the pharmaceutical industry are extensively used for the packaging of medicinal drugs. Pharmaceutical glass bottles are manufactured to meet tight tolerance limits because they are often filled in high-speed lines. Glass is being considered as a viable alternative as its impacts on humans and the environment are much less compared to polyethylene terephthalate (PET), making it the most environment-friendly packaging medium.

Manufactured glass bottles are tested for checking the presence of bacteria, mold, and yeast count. National Accreditation Board for Testing and Calibration Laboratories (NABL), based out of India, has approved third-party labs for checking the same. Glass bottles are also being produced at the lowest possible weights with the help of advanced `blow-blow' and NNPB technologies, which may prove to be an added advantage for logistics.

Packaging of drugs and other medicines play an essential part in solving these issues. In that regard, pharmaceutical vials are increasingly being administered to ensure that the patients take medicine inappropriate dosage and at the prescribed time. Besides, products in such form also provide the ease of medication intake by the patients. This may help reduce their time of recovery and the burden on the healthcare system. Factors, such as the rise in the cost of medical care, due to incorrect consumption of medicines and the growing inclination of various end-users, like hospitals and drug manufacturers, are expected to drive the use of the product during the forecast period.

Request overview report @ https://www.globalmonitor.us/product/pharmaceutical-glass-packaging-market

Like other glass packaging, vials are also easily recyclable and are considered an eco-friendly material. This has shifted the focus of end-users from conventional containers to vials and, in turn, has created a lucrative demand for these products across the medical and healthcare sectors.

Segmentation by Geography
The glass bottles and syringes are the most used form of packaging in the United States. Seven of the top ten drugs sold in the united states are packaged using glass, according to Pharmaceutical-technology.com. The United States also dominates the pharmaceutical market, both in consumption and development. According to STAT, prescription drug spending in the nation is considered to add up to USD 600 billion by 2023, up from an estimated USD 500 billion in 2019, which is further expected to drive the market for pharmaceutical glass packaging in the country.

Glass production decreased significantly in Germany by 12% in May 2019, compared to the same period during the previous year. However, the from the consumers toward sustainable products is expected to turn around the demand. The pharmaceutical glass packaging industry is well-regulated in Germany. It has established systems of recycling that have been existing for more than four decades and have been producing very encouraging results for the country.​

Request overview report @ https://www.globalmonitor.us/product/pharmaceutical-glass-packaging-market

The pharmaceutical industry is one of the vital industries for the United Kingdom, owing to the significant usage of drugs, improvement in medical science, and the increasing number of diseases in the country. The research-based pharmaceutical industry also plays a critical role in ensuring future competitiveness in an advancing global economy.

Moreover, with Brexit, the industry faced some challenges, as most of the companies in the United Kingdom are located in the EU region. There is a significant decrease in potential patients and consumers in the EU. According to Parliament United kingdom study, 2019, 73% of pharmaceutical imports were from the EU and access to pharmaceutical products could be reduced. The United Kingdom may become a less attractive location to launch new medicines. A divergent regime could see extra costs of GBP 45,000 for each new medicine released in the United Kingdom, making it an unattractive small market for specialized medicines.

Bhanu Reddy
Global Monitor
+1 206-809-0882
email us here
Visit us on social media:
Twitter
LinkedIn

Powered by EIN Presswire
Distribution channels: Healthcare & Pharmaceuticals Industry


EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.

Submit your press release