Global Pharmaceutical Glass Tubing Market To Grow At 7.1% CAGR Owing To Rising Demand For Aseptic Medical Packaging
Market Overview:
The global pharmaceutical glass tubing market caters to the pharmaceutical industry needs for glass tubing packaging. Pharmaceutical glass tubing is used as primary containers for sterile pharmaceutical products such aseptic fillings for injection vials, ampoules, and bottles. Glass tubing ensures the sterility and inertness required to maintain drug stability and effectiveness during storage and transportation. Pharmaceutical glass tubing offers advantages like non-reactivity, transparency, negligible interaction with drugs, and ability to be sterilized at high temperatures. With growing healthcare needs, demand for various pharmaceutical drugs and medical products has boosted the need for reliable, sterile and long shelf-life packaging solutions like pharmaceutical glass tubing.
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., Qorpak, Division of Berlin Packaging. Rising demand for pharmaceutical products and increasing focus on safe packaging has boosted demand for pharmaceutical glass tubing globally. Growing advancement in production technology has allowed manufacturers to offer glass tubing with customized dimensions, coatings and tolerances required for various medical applications.
The pharmaceutical glass tubing market is witnessing high growth owing rising demand for various drugs globally. As per statistics, global pharmaceutical market grew at a CAGR of 3-6% between 2018 to 2024. This rising pharmaceutical demand in turn accelerates need for safe, reliable packaging of drugs boosting glass tubing market. Significant technological advancements have taken place in glass tubing production technology. Automated processes now allow for mass production of tubing with customized dimensions, heat resistance and elimination of processing defects. Innovation helps manufacturers offer application specific tubing at competitive costs.
Market Trends
Some key trends identified in the global pharmaceutical glass tubing market include increasing preference for value added glass tubing and rising demand for environmental friendly packaging solutions. Manufacturers are offering glass tubing with customized coatings, dimensional accuracy, printing and otherfeatures to deliver enhanced functionality as per application needs. For example, borosilicate glass tubing treated with coatings like silicone provide increased heat resistance and chemical compatibility for special drug applications. Additionally, stringent regulations around environmental protection has boosted R&D around recyclable, sustainable packaging. This drives demand for pharmaceutical glass with feasibility for reuse and material recovery at end-of-life.
Market Opportunities
The growing healthcare expenditure in emerging economies presents lucrative growth opportunities. As economies in Asia Pacific and Latin America regions witness rising affluence, wider health insurance coverage and growing elderly population, pharmaceutical markets in these regions will continue gaining traction over coming years. This growing regional pharmaceutical demand will by default create opportunity for local glass tubing packaging as well. Additionally, increasing preference for self-administration and home healthcare also opens opportunities for specialized glass tubing solutions for devices like pre-filled syringes and injectors. Innovation around glass composition, surface coatings and tubing production technology will further support tubing industry to tap newer application segments in future.
Impact OF Covid-19 ON THE Global Pharmaceutical Glass Tubing Market
The COVID-19 pandemic has significantly impacted the global pharmaceutical glass tubing market. During the initial outbreak of the pandemic in early 2020, manufacturing and supply chain disruptions led to reduced production of glass tubing. With lockdowns imposed worldwide, travel restrictions made it difficult to transport raw materials as well as finished products. This caused a decline in market growth during 2020.
However, as the pandemic intensified globally, demand for glass tubing increased exponentially. Being the primary material used for vaccine vials and syringes, glass tubing manufacturers witnessed a massive surge in orders from pharmaceutical companies engaged in COVID-19 vaccine development and production. Additional requirements for testing reagents and sample collection further boosted demand.
As vaccination drives commenced in 2021, glass tubing manufacturers ramped up production significantly to meet unprecedented requirements. Investments were made to expand manufacturing capacity and set up additional production lines dedicated to COVID-19 products. Automation was incorporated to enhance efficiency. Supply chain operations were streamlined for just-in-time deliveries.
Going forward, sustained demand for COVID-19 booster doses and the development of combination vaccines is expected to sustain high growth of the market. Though regular diseases may see recovery to pre-pandemic levels, pandemic preparedness will require consistent glass tubing supply. Manufacturers need to focus on strategic partnerships, innovative formulations and rapid customized solutions to address future emergencies.
In terms of value, North America is currently the largest market for pharmaceutical glass tubing, centered around the US and Canada. This is attributed to large demand arising from leading biopharma companies and contract manufacturers based in the region. Europe follows in second place led by countries such as Germany, UK and France. However, Asia Pacific is expected to witness the fastest growth during the forecast period owing to expanding pharmaceutical manufacturing in India and China as well as rising biologics production in South Korea and Japan.
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?
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