by The global pharmaceutical glass tubing market witnesses high demand owing to the growing biological and injectable drug delivery. Pharmaceutical glass tubing finds widespread usage in the manufacturing of cartridges, injection vials, ampoules, and syringes used for packaging and delivery of pharmaceutical formulations. Glass tubing provides excellent barrier properties against moisture, light, and chemical interactions, thereby maintaining drug stability during manufacturing, storage, and administration. The transparent nature of glass also allows for visual inspection and identification of the contents.
The Global Pharmaceutical Glass Tubing Market Size 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., and Qorpak, Division of Berlin Packaging. Schott AG and Corning Incorporated hold leading market shares owing to their extensive product portfolio and global footprint.
The key opportunities in the market include rising demand for biological drugs, injectable formulations, and home healthcare products. Moreover, growing geriatric population prone to chronic diseases is expected to drive the need for parenteral route of drug administration globally.
Key players are expanding their geographical footprint through strategic partnerships and acquisitions to leverage growth opportunities in emerging Asia Pacific and Latin American markets. Region-specific requirements regarding quality and certifications are prompting companies to set up local manufacturing units for better market penetration.
Market Drivers
Increased research and development activities in the pharmaceutical industry along with rising prevalence of diseases like cancer, diabetes, and cardiovascular ailments have been driving the demand for biological and injectable drugs worldwide, fuelling growth of the global pharmaceutical glass tubing market. Moreover, growing elderly population and increasing healthcare expenditure in developing nations have also contributed to the market growth over the past few years.
Pest Analysis:
Political: pharmaceutical industry is highly regulated in most countries. Regulations impact glass tubing used for production of drugs.
Economic: fluctuations in economy can impact healthcare spending, as people may delay or cut medical costs including purchase of drugs which indirectly affects glass tubing demand.
Social: ageing population drives demand for various medicines which leads to rising need for glass tubing used in drug packaging. Growth in lifestyle diseases also necessitates more medicines and glass tubing use.
Technological: developments in thinner and stronger glass tubing has enabled miniaturization of drug packaging. Improved coating techniques help reduce interaction between drugs and glass surface extending shelf life of medicines.
North America market in terms of value is concentrated in the United States. The US accounts for majority share due to presence of many pharmaceutical companies and increasing healthcare expenditure. Europe market is significant led by countries such as Germany, France, UK and Italy due to stringent pharmaceutical regulations and rising geriatric population.
Asia Pacific region is the fastest growing market for global pharmaceutical glass tubing. China dominates Asia Pacific market owing to low manufacturing cost and rising income levels increasing healthcare access. India is another fast expanding country because of well-established pharmaceutical industry, huge population and government initiatives to enhance healthcare availability.
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 Market’s growth between 2024 and 2031.
:- Accurate calculation of the size of the Global Pharmaceutical Glass Tubing Market and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behavior
:- Global Pharmaceutical Glass Tubing Market 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 Market vendors
FAQ’s
Q.1 What are the main factors influencing the Global Pharmaceutical Glass Tubing market?
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 Market companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Global Pharmaceutical Glass Tubing market’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:
- Source: CoherentMI, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
