Global Pharmaceutical Glass Tubing Market Size by Major Players, Trends, Key Regions and Growth Forecast to 2022-2031

The pharmaceutical glass tubing market was valued at USD 12.35 billion in 2022, and it is projected to reach USD 20.75 billion by 2031, registering a CAGR of 5.5% during the forecast period (2022 – 2031). The manufacturing tools and fabrication techniques that are being used to manufacture pharmaceutical tubing have become extraordinarily complex.

Request A Free Sample to Learn More About This Report@ https://www.sdki.us/sample-request-90344

The complexity is primarily being driven by multiple applications in which the tubing is used. The most pharmaceutical application requires tubing that meets a set of specifications, and currently, the manufacturing methods are rapidly evolving to accommodate these broad categories of specifications. According to the European Monitoring Centre for Drugs and Drug Addiction, the 2022 report, 517,381 syringes are distributed in Sweden.

– The Pharmaceutical Glass Tubing Market across the world is boosting the growth of the market. The introduction of stringent laws to enhance the quality and integrity of domestically manufactured drugs is leading to an increase in the use of glass for pharmaceutical packaging products. Additionally, the increasing demand for sterile medical packaging products from the pharmaceutical industries would further drive the growth of the market during the forecast period.

– The increasing number of drugs that are being packaged in the glass medium is driving the demand for glass-based injectables, ampules, etc. According to the World Health Organization (WHO), around 422 million people have diabetes around the world. The increase in this number is increasing the demand for penicillin, thereby contributing to the growth of the market.

– The glass bottles and syringes are the most used form of packaging in the United States. According to the website “Pharmaceutical-technology.com,” seven of the top ten drugs sold in the united states are packaged using glass. The Opdivo, Avastin, Herceptin, and Keytruda are sold in glass bottles, which are of 20 to 50 cc sizes, while the most sold drug Humira in sold in Syringes.​

– The United States also dominates the pharmaceutical market, both in consumption and development. According to the 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 2022, which is further expected to drive the market for the pharmaceutical glass tubing market in the region.​

– Vendors in the market, such as Schott, which is a prominent technology group specializing in the area of glass and glass-ceramics across the globe, have a significant market share. With the production capacity of more than 140,000 tons and multiple production sites in Europe, South America, and Asia, the company is one of the leading manufacturers of glass tubes, rods, and profiles. The company manufactures more than 60 different glass types in a large variety of dimensional and cosmetic specifications that are based on a standardized production process.

– Moreover, the COVID -19 pandemic has put forth a demanding situation for the players in the pharmaceutical glass tubing industry. The widespread of the pandemic and the humanitarian toll is taken by it is primarily making it challenging for the players in the market to respond. The nationwide lockdowns have further worsened this situation for the glass tubing industry.

– Several vendors in the market are aiding the fight against the pandemic through critical supplies. For instance, Corning is supplying its products from glass tubing for diagnostic test kits to vials for clinical drug trials for vaccines, to providing corning valor glass packaging in order to help fill the gap for the projected drug shortages. The company is also providing assistance with glass packaging, or any need for consumables from its Life Sciences portfolio for vaccine process development.

Download PDF Sample Report For More Information @ https://www.sdki.us/sample-request-90344

Key Market Trends

Application of Bottles is Witnessing Significant Growth

– Glass bottles are among the primary packaging materials used in the pharmaceutical industry. A considerable number of pharmaceutical formulations have been packaged using glass bottles, and they are usually the first choice of packaging materials. ​

– According to the FEVE, the European Container Glass Federation, container glass production among FEVE members grew 217 thousand ton from 2018 levels and reached 21,755 thousand ton and 78,662 million units, respectively.

– The rapidly growing pharmaceutical industry across the various region of the world is boosting the growth of the market. The demand for pharmaceutical glass is majorly arising from stable economies, such as the United States and Canada. The increasing pharmaceutical production in these countries is further increasing the demand. According to the IQVIA, pharmaceutical sales in the United States in 2022 were at USD 491 billion, and global pharmaceutical sales were USD 1033 billion.

– Moreover, the increasing demand for injectable pharmaceuticals is significantly driving the growth of glass bottles in the pharmaceutical sector. The robust market for oncology and other high-potency drugs (such as antibody conjugates, steroids, and IV fluids that require quick onset of action) is expected to be the segment’s key growth driver.

– Moreover, due to the superior recycling property of the glass, it has gained full acceptance in the pharmaceutical glass tubing market. According to the Institute of Scrap Recycling Industris Inc., the recycled glass is the substitute of 70% of the raw material used in making new glass. The initiatives of glass recycling are adding value to glass as a commodity.

– Over 130 million ton of glass is currently being produced annually, out of which 46% are of container glass. According to Recovery Magazine, recycling for container glass is the highest, which is estimated to be 32% globally. Effective recycling is driving the pharmaceutical industry to adopt glass packaging solutions apart from its other benefits.

Asia-Pacific to Witness the Fastest Growth

– The demand for pharmaceutical glass tubing is majorly arising from prominent pharma nations in the Asia-Pacific region, such as India and China. The increasing pharmaceutical production in these countries is further increasing the demand.

– Further, manufacturers and suppliers are focusing on shifting their base to China and India, as a result of increasing opportunities offered by the pharmaceutical industry in these countries, especially in the generics sector.

– Also, China’s National Health Commission forecasts that the total size of the Chinese healthcare industry is anticipated to reach CNY 16 trillion (USD 2.39 trillion) by 2030. According to the Chinese Center for Disease Control and Prevention, Institute for Health Metrics and Evaluation, China has reached a health “tipping point,” with chronic conditions replacing infectious diseases as the leading causes of early deaths in the nation of 1.4 billion people.​ Huge investments anticipated to control this scenario are expected to drive the demand from China.

– Moreover, India is the source of 60,000 generic medicine brands across 60 therapeutic categories and manufactures more than 500 different Active Pharmaceutical Ingredients (APIs). The Department of Pharmaceuticals is aiming to make the country a hub for end-to-end drug discovery under its ‘Pharma Vision 2022.

– The companies are significantly expanding their manufacturing and production activities in the region. For instance, in Aug 2022, Germany-based Schott carried out a capacity expansion at its greenfield pharmaceutical glass tubing plant in Jinyun, Zhejiang, China. The new plant will enable the company to participate in the advancement of the Chinese pharmaceutical packaging industry. The company will invest EUR 60 million in the first phase to install a yearly capacity of up to 20,000 tons. The production is scheduled to initiated by the end of 2022.

– Similarly, in December 2022, German pharmaceutical and healthcare products packaging supplier Gerresheimer opened a second production site in India. The new plant will increase the production capacity to meet the growing demand from the country’s pharma sector. The plant will also support the company’s vial production from tubular glass for pharmaceutical and diagnostic applications, as well as ampoules.

Competitive Landscape

The pharmaceutical glass tubing market is highly consolidated, owing to the presence of many dominant and large players. The market is consolidated with the key players adopting strategies, such as product innovation, to stay ahead of the competition. Some of the players in the market are Schott AG, Nipro Pharma Corporation, Corning Incorporated, Richland Glass Co. Inc., among others.

– April 2022 – Corning Inc. supported China’s effort to help mitigate the impact of COVID-19 on the regional pharmaceutical supply chain by donating its Type I borosilicate glass tubing. This high-quality tubing will be converted into 5 million to 10 million ampoules and vials that will then be supplied to the Chinese pharmaceutical companies for parenteral packaging of drug therapies.

– November 2022 – Schott AG announced its plan to double its manufacturing capacity in India, by infusing a total of EUR 47 million (including its existing investment of EUR 21 million). The company is also planning to inject additional investments of EUR 26 million for another tank facility in 2022.

Reasons to Purchase this report:

– The market estimate (ME) sheet in Excel format

– 3 months of analyst support

About SDKI :

The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count ( SDKI ) provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.

For more information, please contact:

Lauren Brown
Shibuya Data Count
Email:
 sales@sdki.jp
Tel: + 81 3 45720790

More Market Reports:

Beverage Carton Packaging Machinery Market
Non-woven Fabrics Market
Graphic Film Market

Leave a Reply

Your email address will not be published.