by The global pharmaceutical glass tubing market plays a crucial role in drug delivery as glass tubing is extensively used in the production of prefilled syringes and cartridges for injectable drugs. Pharmaceutical glass tubing provides critical properties such as chemical resistance, durability and inertness which allows for direct contact with sensitive medications. With rising prevalence of chronic diseases, there is an increasing demand for injectable drugs which fuels the need for pharmaceutical glass tubing.
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 2023 to 2030, as highlighted in a new report published by CoherentMI.
Market Key Trends:
One of the key trends in the global pharmaceutical glass tubing market is increasing preference for prefilled syringes. Prefilled syringes offer advantages such as ease of use, improved safety and increased patient compliance. Pharmaceutical glass tubing is a crucial raw material in the manufacturing of prefilled syringes. The precision glass tubing are molded into barrels and utilized in assembly of prefilled syringes. According to the report by Coherent Market Insights, prefilled syringes represented over 60% of the injectable drug delivery market in 2022. The significant market share of prefilled syringes will augment the demand for pharmaceutical grade glass tubing during the forecast period. Innovation in material and designs of pharmaceutical glass tubing to cater surging requirements of prefilled syringes is another notable trend shaping the industry.
Porter’s Analysis:
Threat of new entrants: The threat of new entrants into the global pharmaceutical glass tubing market is moderate. High capital requirements and established relationships with pharmaceutical companies act as a deterrent for new players.
Bargaining power of buyers: The bargaining power of buyers is high due to the presence of a large number of pharmaceutical glass tubing manufacturers globally. Buyers can negotiate on price easily.
Bargaining power of suppliers: The bargaining power of suppliers is moderate. The raw materials used in pharmaceutical glass tubing such as borosilicate glass come from few specialized suppliers globally increasing their bargaining power.
Threat of new substitutes: The threat of new substitutes is low. There are limited substitutes that can provide rigidity, transparency, and chemical inertness required for pharmaceutical glass tubing.
Competitive rivalry: The global pharmaceutical glass tubing market is moderately competitive with the presence of both global and regional players. Players focus on expanding their production capacity and product portfolio.
Global Pharmaceutical Glass Tubing Market Segmentation:
- By Product Type
- Vials
- Ampoules
- Cartridges
- Syringes
- Bottles
- Others (Tubes, Rods, Stoppers etc.)
- By End User
- Pharmaceutical
- Biotechnology
- Diagnostics
- Chemical
- Others (Research, Forensics etc.)
- By Distribution Channel
- Direct Sales
- Distributors
- Online
- Others
- By Manufacturing Process
- Tubing
- Molding
- Extrusion
- Others
Key Takeaways:
The global Pharmaceutical Glass Tubing Market Size is expected to witness high growth. 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 2023 to 2030.
North America is currently the largest market for pharmaceutical glass tubing owing to strong presence of pharmaceutical companies and contract manufacturing organizations in the region. The Asia Pacific region is expected to grow at the fastest pace during the forecast period with increasing pharmaceutical production and presence of leading glass tubing manufacturers in countries like China, Japan and India.
Key players operating in the pharmaceutical glass tubing market are Schott AG, Nipro P L. The regional analysis covers the fastest growing and dominating region for key players. They focus on new product launches, strategic collaborations and capacity expansions to gain higher market share.
*Note:
1.Source: CoherentMI, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
