The Pharmaceutical Glass Packaging Market To Simulate On A Stupendous Note
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Offering innovative products and variants is an intensifying trend among manufacturers in the global pharmaceutical glass packaging market. More focus is being directed towards the manufacturing of products that are associated with the convenience of manufacturers and consumers in order to leverage opportunities arising from the proliferating demand for pharmaceutical products. The global market for pharmaceutical glass packaging is expected to exhibit a CAGR of 4.1% in the course of the forecast period 2017 to 2027.
Advanced Materials to be a Core Preference of Pharmaceutical Manufacturers
A latest trend that is being witnessed in the global pharmaceutical glass packaging market is the adoption of optimized Siliconization and UV Curing techniques during the manufacturing process of syringes. Moreover, pharmaceutical companies prefer tungsten free or low tungsten glass syringes for their products to avoid any contamination. During Siliconization control, it is ensured that the silicon is distributed equally inside the container. Companies are innovating existing safety devices to promise zero needle stick injuries. The conventional devices require manual activation by the user to trigger the needle shield. However, the latest technological advancements have led to the introduction of pre-filled syringes integrated devices that are passively activated and are available in a ready-to-use preassembled format. Furthermore, the demand for ready-to-use containers has increased extensively over the last couple years which is further creating room for changes in the existing product portfolio backed by high innovation. Some of the primary needs of the pharmaceutical industry are increasing quality, reducing TCO, enhancing flexibility, and reducing the time to market.
Biologic drug formulations are becoming the primary focus for treatment of many diseases from cell and gene therapies to immunotherapeutics. New formulations are being discovered every day for several treatments. This has led to incompatibility of the existing traditional packaging formats and the need for innovation has arisen in the pharmaceutical glass packaging market. More and more biologics drugs require ready-to-use packaging solutions and market demand for the same is fulfilled by prefilled syringes. Prefilled syringes ensure the accuracy of the doses with ready-to-use compatibility. The demand for such type of packaging products is increasing at a very fast pace in developed as well as emerging economies.
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Injectable to Lead in Terms of Application
Injectable is expected to lead the global market for pharmaceutical glass packaging by the end of the forecast period owing to its high penetration in the coming years. The other applications for pharmaceutical glass packaging include oral, nasal, and others such as topical among others. Region-wise, the market has been segmented into North America, Europe, APAC, Latin America, and the Middle East and Africa.
Innovation to be a Core Focus of Manufacturers
Manufacturers are focusing on innovating in terms of product design and features such as introduction of glass prefilled syringes and high usage of Type I borosilicate glass for the manufacturing of containers. The pharmaceutical glass packaging market is dominated by some of the global manufacturers such as Nipro Corporation, Gerresheimer AG, Schott AG, and Stevanato Group. All of these companies together account for almost 30%-40% of the overall market.
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