Glass Medicine Bottles Market Overview
According to the latest research by Future Market Insights, Glass Medicine Bottles Market is expected to witness robust growth with 3-4% CAGR during the forecast period from 2021 to 2031. The Glass Medicine Bottles will show growth due to the rising demand for packaged foods and rising disposable income. Therefore, growth at a significantly high CAGR will be expected soon.
What is Driving the Demand for Glass Medicine Bottles?
Glass containers are among the primary packaging material that has found use in the pharmaceutical industries. Glass is an inorganic material mostly silicates or a mixture of materials. Pharmaceutical manufacturers are inclining towards bottle glass for drug containment due to its major advantage to maintain a steady temperature.
Glass can hold liquid or solid at a steady temperature without absorbing flavour, odour, and colour. Glass poses as a hindrance to atmospheric gases, such as carbon dioxide and oxygen, from entering the primary container, mitigating the risk of contamination of the drugs.
Glass packaging lowers the drug’s susceptibility to degradation, such as hydrolysis and oxidation. Moreover, glass packaging helps in resisting the escape of volatile ingredients, thereby increasing the drug stability. These advantages of glass packaging for medicines are expected to grow the glass medicine bottles market.
Moreover, rising environmental concerns and increasing recycling activities in developed and developing countries are expected to further support the growth of the global glass medicine bottles market. Also, with the increasing demand and consumption of medicines globally there will be a rise in medicine manufacturing rising the demand for packaging.
All these factors drive the glass medicine bottles Market significantly during the forecast period from 2021 to 2031.
Which Factors are Likely to Augment the Growth of the Glass Medicine Bottles market?
Glass packaging of pharmaceuticals safeguards products from physical damage, biological contamination, and from all antagonistic external influences that can damage the products. The pharmaceutical glass packaging market is growing at a significant rate owing to the increasing demand for pharmaceutical products and technological advancements in the field.
One of the major advantages of using glass packaging is the inert nature of glass, which does not let it react with the contents under most circumstances. The ongoing investment and R&D activities for drug discovery, approach towards generic medicines, extensive utilization of generic injectable drugs and adoption of better packaging solution is resulting in demand for glass bottles.
The glass packaging solution provides enhanced chemical durability and damage resistance, enabling pharmaceutical companies to effectively store and deliver critical drug formulations. The glass medicine bottles market is experiencing significant growth due to the types of medicines manufactured, maintaining the stability of the product, and also its recyclable nature.
Thus the demand for glass medicine bottles will increase over the forecasting period.
The U.S. and Canada Glass Medicine Bottles Market Outlook
U.S. and Canada will retain the top position in the market of glass medicine bottles due to a large number of pharmaceutical industries and manufacturing plants in the region. The presence of key manufacturers, strong infrastructure, key packaging industries, and in the U.S. and Canada are adding to glass medicine bottles growth in the region.
China Demand Outlook for Glass Medicine Bottles
The Chinese glass medicine bottles market is experiencing significant growth due to increasing pharmaceutical manufacturing capacities in the country. China is one of the most renowned countries where at a large scale pharmaceutical manufacturing is done and imported on a global level.
Also, there have been emerging companies in the country which will lead to rising demand for packaging, and as the benefits of glass, it will gain interest in the forecasted period.
Who are the Key Manufacturers and Suppliers of Glass Medicine Bottles?
Some of the leading manufacturers and suppliers of Glass Medicine Bottles include
- PGP Glass Private Ltd.
- Schott AG
- Qorpak, SKS Bottle & Packaging Inc.
- SGD Pharma, Corning Inc.
- Beatson Clark
- Gerresheimer AG
- Ardagh Group S.A.
- Shandong Qidu Pharmaceutical Co. Ltd.
- Bormioli Rocco SpA
- Nipro Corporation
- Ajanta Bottle, and others.
These companies followed certain strategies like partnership, manufacturing plant expansion, mergers, and acquisitions to gain a good position in the market. For instance, in July 2017, Pfizer and Merck announced a collaboration with glass manufacturer Corning to offer a new solution for injectable drugs in vials and cartridges.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
By Glass Type:
- Type I (Borosilicate glass / Neutral glass)
- Type II (soda-lime-silica glass)
- Type III (Regular soda-lime glass)
- Type IV (Type NP glass)
By Filament Type:
By Medicine Type:
- Latin America
- South Asia
- East Asia