July 13, 2024
Global Pharmaceutical Glass Tubing Market

Global Pharmaceutical Glass Tubing Market Estimated to Witness High Growth Owing to Increasing Demand for Injectable Drugs

Market Overview

The global pharmaceutical glass tubing market is primarily driven by the increasing demand for injectable drugs. Pharmaceutical glass tubing is widely used in the manufacture of ampoules, vials, and cartridges that contain injectable drugs. They offer properties like break resistance, optimal transparency, and chemical inertness which makes them suitable for packaging intravenous drugs and vaccines. The rising prevalence of chronic diseases coupled with the growing geriatric population has augmented the demand for injectable medications globally.

Pharmaceutical Glass Tubing provides a safe, hygienic, and effective solution for storage and administration of such drugs. The market growth is further boosted by stringent regulations regarding the use of intact and impermeable packaging for medications.

The Global pharmaceutical glass tubing market is estimated to be valued at US$ 8.3 Bn in 2024 and is expected to exhibit a CAGR of 7.1% over the forecast period 2024-2031.

Key Takeaways

Key players operating in the global pharmaceutical glass tubing market are Schott AG, Nipro Pharma Corporation, Corning Incorporated, NEG Glass, PreCision Glass & Packaging, Shandong Pharmaceutical Glass Co., Ltd., Borosil Glass Works Ltd., Thermo Fisher Scientific, Richland Glass, Haldyn Glass Ltd., Duran Group GmbH, Epax Systems, Linuo Group Glass Products Co., Ltd., JSG Pharma, Fushan Technology, NAFEMS, Saverglass Group, Bormioli Rocco S.p.A., SGD S.A., Qorpak, Division of Berlin Packaging.

The key opportunities in the market include development of glass tubing with enhanced durability, flexibility and transparency properties. Additionally, development of glass tubing for oral drug delivery and parenteral drugs packaging will further boost market growth over the forecast period.

Globally, the pharmaceutical glass tubing market is expanding owing to rising pharmaceutical production and healthcare spending across emerging economies of Asia Pacific and Latin America. Key players are focusing on expanding their manufacturing facilities in high growth regions to leverage opportunities in developing markets.

Market Drivers

Stringent regulations mandating use of intact and impermeable packaging for injectable drugs is a key driver boosting the demand for pharmaceutical glass tubing. Additionally, growing expenditure on healthcare infrastructure and facilities along with increasing generic drug production are contributing significantly to market growth over the forecast period.

PEST Analysis

Political: Regulations by various governments on pharmaceutical manufacturing and product testing may impact the demand for pharmaceutical glass tubing from manufacturers. Licensing and safety certifications are required which pharmaceutical glass tubing producers must adhere to.

Economic: A growing healthcare industry and increasing spending on medicines will boost the pharmaceutical glass tubing market. However, economic slowdowns can negatively impact the budgets of pharma companies and hospitals affecting their purchases of pharmaceutical glass tubing products.

Social: An aging global population and greater access to healthcare in emerging nations are driving higher demand for medicines worldwide. This increases the need for pharmaceutical glass tubing for manufacturing and packaging purposes. Growing health consciousness also leads to preventive medication driving market growth.

Technological: Advancements in glass coating technologies allow for developing pharmaceutical glass tubing with custom properties like resistance to certain chemicals, light protection, and impact resistance. Automated tubing production lines boost efficiency. Use of robotics in pharmaceutical manufacturing increases glass tubing consumption.

The geographical regions where the global pharmaceutical glass tubing market is concentrated in terms of value are North America and Europe. Both regions have a highly developed healthcare sector and presence of leading pharmaceutical manufacturers. The United States in particular has the highest pharmaceutical spending globally. According to industry estimates, the North American region accounted for over 30% share of the overall market in 2024.

The fastest growing region for the global pharmaceutical glass tubing market is expected to be Asia Pacific owing to increasing healthcare expenditures, growing middle class, and expansion of pharmaceutical manufacturing capacities in countries like China, India, South Korea and Japan. The presence of prominent generic drug makers and rising ability to produce complex medicines is attracting investment into pharmaceutical glass tubing production facilities across Asia Pacific. The region is projected to witness a CAGR of around 9% during the forecast period of 2024-2031.

What Are The Key Data Covered In This Global Pharmaceutical Glass Tubing Market Report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the Global Pharmaceutical Glass Tubing’s growth between 2024 and 2031.

:- Accurate calculation of the size of the Global Pharmaceutical Glass Tubing and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behaviour

:- Global Pharmaceutical Glass Tubing Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of Global Pharmaceutical Glass Tubing vendors

FAQ’s

Q.1 What are the main factors influencing the Global Pharmaceutical Glass Tubing?

Q.2 Which companies are the major sources in this industry?

Q.3 What are the market’s opportunities, risks, and general structure?

Q.4 Which of the top Global Pharmaceutical Glass Tubing companies compare in terms of sales, revenue, and prices?

Q.5 Which businesses serve as the Global Pharmaceutical Glass Tubing’s distributors, traders, and dealers?

Q.6 How are market types and applications and deals, revenue, and value explored?

Q.7 What does a business area’s assessment of agreements, income, and value implicate?

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

About Author - Ravina Pandya

Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.  LinkedIn Profile

About Author - Ravina Pandya

Ravina Pandya,  Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.  LinkedIn Profile

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