DUBLIN–(BUSINESS WIRE)–The “Pharmaceutical Glass Vials & Ampoules Market – Growth, Trends, and Forecasts (2020 – 2025)” report has been added to ResearchAndMarkets.com’s offering.
The Pharmaceutical Glass Vials & Ampoules Market is expected to register a CAGR of 6.2% during the forecast period (2020 – 2025).
The introduction of stringent laws to enhance the quality and integrity of domestically manufactured drugs is primarily leading to an increase in the usage of glass as a material for pharmaceutical packaging products.
The rapidly growing pharmaceutical industry across the globe is driving the growth of the market. The demand for pharmaceutical glass vials and ampoules are arising majorly from densely populated countries. The increasing pharmaceutical production in these countries is further increasing the demand.
Moreover, it should be noted that across the globe a significant volume of the glass vials and ampoules are being manufactured from borosilicate glass material. The demand for the product is increasing at a very rapid pace primarily owing to its inert properties which other conventional materials are not able to offer.
Companies Mentioned
- Schott AG
- Gerresheimer AG
- Nuova Ompi S.r. (Read more…)l. (Stevanato Group)
- NIPRO Corporation
- Piramida d.o.o.
- SGD S.A.
- APL Solutions Pvt. Ltd.
-
Crestani srl
Key Market Trends
India is Expected to Witness Significant Growth
- India is one of the largest manufacturers and exporters of pharmaceutical products in the world. According to the India Brand Equity Foundation (IBEF), the total export value of the pharmaceutical industry in 2019 was USD 19.1 billion. The country also has huge R&D operations. It is estimated that the top-ten Indian pharmaceutical companies (on an average) invested over 8.6% of their revenues toward R&D.
- According to IBEF, the packaging industry in the country constitutes about 4% of the global packaging industry. The country is witnessing increasing purchasing power of India’s middle-class population in terms of healthcare services, particularly medicines.
- Also, multiple factors, such as innovations, increased R&D spending, the rising trend of contract packaging, and the development in the generics market are also expected to drive the demand for glass vials and ampoules in the country.
- India also has an advantage over many nations in terms of the basic production of pharmaceutical products, primarily owing to the resources, such as high man-power, knowledgeable work force, and WHO-GMP-approved production methodologies.
United States is Expected to Hold a Major Share of the Market
- The United States primarily dominates the pharmaceutical market, both in consumption and development. According to 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 2019, which is further expected to drive the market for glass vials and ampoules in the country.
- The North American region is one of the largest regions for the pharmaceutical packaging industry owing to its large pharmaceutical manufacturing base and the ability to introduce technological advancements to pharmaceutical packaging. According to the association for packaging and processing technologies (PMMI), there are more than 700 North American Manufacturers of equipment, components, and materials for processing and packaging.
- Moreover, in May 2020, the Trump administration signed a USD 354 million, 4-year contract with Phlow Corp. in order to manufacture generic medicines and pharmaceutical ingredients that are currently needed to treat COVID-19 infected patients. The contract may be extended for a total of USD 812 million over the span of 10 years
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growth of Pharmaceutical Industry in Emerging Economies
4.2.2 Commodity Value of Glass Increased with Recyclability
4.3 Market Restraints
4.3.1 Increased Relevance of Alternate Sources
4.4 Industry Value Chain Analysis
4.5 Porters 5 Force Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
5 IMPACT OF COVID-19 ON THE PHARMACEUTICAL PACKAGING INDUSTRY
6 IMPORT-EXPORT ANALYSIS OF GLASS AMPOULES
7 MARKET SEGMENTATION
7.1 Geography
7.1.1 North America
7.1.2 Europe
7.1.3 Asia-Pacific
7.1.4 Latin America
7.1.5 Middle East & Africa
8 COMPETITIVE LANDSCAPE
8.1 Company Profiles
9 INVESTMENT ANALYSIS
10 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/3hw1yc
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