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Home > News > Industry News > Vaccine Glass Packaging Market Size and Share to Surpass USD 41.10 Billion by 2029, Exclusive Report by Exactitude Consultancy

Vaccine Glass Packaging Market Size and Share to Surpass USD 41.10 Billion by 2029, Exclusive Report by Exactitude Consultancy

Post Time:Aug 08,2022Classify:Industry NewsView:925

Luton, Bedfordshire, United Kingdom, Aug. 05, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Vaccine Glass Packaging Market.

Vaccine Glass Packaging Market growth is growing at an exponential pace. Today, the pharmaceutical industry is growing due to many significant clinical drugs and other services. The use of packaging is essential in this industry to offer protection for medicines. Particularly the glass medicines are gaining added traction due to their brilliant benefits. This glass package offers protection and decreases contamination and other damage to the medicines.

The Global Vaccine Glass Packaging is expected to grow at 7% CAGR from 2022 to 2029. It is expected to reach USD 41.10 Billion by 2029 from USD 38.60 Billion in 2021.                                                                                                                                         

Further, this glass packaging supports in the shelf life of the products. In the upcoming years, the request for pharmaceutical drugs and medicines are high. This will contribute to huge sales of pharmaceutical glass packaging. The Injectable medicines segment of the market is observing the extreme demands. Furthermore, this glass packaging avoids carbon oxide from entering the package.

The growing demand for packaging from the pharmaceutical industry has been powerful in fueling the complete growth of the pharmaceutical glass packaging market. The essential for extending the shelf life of pharmaceutical products and industrial advancements in pharmaceutical packaging will spur market growth. The international market for pharmaceutical glass packaging has been segment based on, application, material type, region, and product type

Vaccine Glass Packaging Market Regional Analysis:

In the US, the pharmaceutical glass packaging industry is observing quick growth. With the rising market for drugs, the demand for glass packaging growths constantly in the pharmaceutical industry. Increasing healthcare spending is increasing the growth of the pharmaceutical glass packaging market in the country

The Asia-Pacific pharmaceutical glass packaging market is anticipated to register a 7.32% CAGR during the forecast period. China, Japan, and India are the key providers to the regional market. China is the important country in the region. However, India is witnessing tremendous growth in the pharmaceutical glass packaging market, mostly due to factors such as growing demand for healthcare centers and growing demand for drugs.

Europe was the third biggest region in the pharmaceutical glass packaging market in 2019, accounting for a 22.35% market share. UK and Germany the are the noticeable countries in the pharmaceutical glass packaging market in Europe. An rise in healthcare awareness and a increase in demand for medicines and other drugs amongst consumers are the key factors dynamic the growth of the pharmaceutical glass packaging market in these countries.

France Vaccine Glass Packaging

France is a historically leading beverage producer in the European Union, with an largely cultivated environment that aided the development of different forms of indigenous alcohol and their appropriate premium packaging solutions, primarily champagne and cognac. The French glass industry difficult through growing mechanization, mainly in the cold operations section, with mechanized, unloading, loading, and sorting. Several operations have been outsourced, and the remaining only includ the most technical additions, such as glass molding and forming.

Recent Development

  • SCHOTT AG introduce pharma vials with 2 billion doses capacity for COVID-19 vaccines- German glass manufacturing giant SCHOTT AG is supporting the world’s fight against COVID-19 with vials capable of holding up to 2 billion vaccination doses. The pharma glass and packaging expert has reached agreements with important pharmaceutical companies, containing key players in India.

  • Honeywell adds COVID vaccine-ready vials to its new line of glass alternatives-The glass used to make vials for vaccines and other medications is scarce, and with the looming need to stock and dispense COVID-19 shots on a massive scale, Honeywell goals to step in with a well-known plastic alternative.

  • Stoelzle launches EcoSecur- a newly developed reliable process for Type 2 glass vials-Stoelzle Glass Group, one of the leading manufacturers of high-quality pharmaceutical packaging glass, has developed a new process for the inner-surface treatment of Type 2 glass, which is both safe and resource-efficient. EcoSecur is an advanced technique, which enables reliable and exact dosing tailored to the size of each bottle, from the smallest 6 ml vials to much larger.

Vaccine Glass Packaging Market Players

The report intensely explores the recent significant advances by the important vendors and modernization profiles in the Global Vaccine Glass Packaging Market, including Gerresheimer, SGD, Opmi, Schott, Shandong PG, Bormioli Pharma, Ardagh, Nipro, West Pharma.

Ampoules and Vials to be in High Demand in Latin America

Ampoules and vials are mainly used in most of the countries in Latin America for packaging applications. Brazil and Mexico main the Latin America market in terms of consumption. The pharmaceutical market in Brazil is rising at a higher rate which will boost the demand for pharmaceutical glass packaging products in the next few years.

Though, glass delamination is projected to act as a roadblock in the deployment of several products in the region. Glass delamination occurs from following glass chipping and surface degradation which is detected visually as flakes within the drug product or solution.

Recent Trends

The growth of new glass types will lead to high demand for pharmaceutical glass packaging. A different kind of network former is being used in the manufacturing of these glasses in order to eliminate the need for boron. When used in conventional glasses, boron volatilizes during the manufacturing of vials, thus creating different chemistry in the drug contacting region of the packaging, which can main to glass flake formation. The recently developed glass does not contain boron, resulting in chemically tough and uniform glass chemistry. The boron-free glass is introduced by Corning Inc. under the brand name Valor. Additionally, glass packaging manufacturers are using enduring engraving to minimize the counterfeiting of the year of manufacture, which is anticipated to fuel the request.

RESTRAINING FACTORS

Glass packaging is gradually being substituted by plastic in the pharmaceutical industry. Plastics deal with properties such ascost-effectiveness, flexibility, easy molding impact resistance, and other protective properties. The cartridges and bottles made from plastics are lightweight, low cost and easy to transport in comparison with the ones made from glass. The use of plastics for pharmaceutical packaging negates the chances of accidental breakage owing to the great impact resistance of plastic. Moreover, the high flexibility of plastics reduces the need for tertiary packaging of the pharmaceutical product, thereby dropping the manufacturing and transportation cost. The above-mentioned factors are restrictive the pharmaceutical glass packaging market growth.

Key Market Segments: Vaccine Glass Packaging Market

Vaccine Glass Packaging Market by Type, 2020-2029, (USD Million)

  • Vial

  • Pefill Packaging

Vaccine Glass Packaging Market by End Users, 2020-2029, (USD Million)

  • Cancer Vaccine

  • Infectious Disease Vaccine

  • Other

Vaccine Glass Packaging Market by Region, 2020-2029, (USD Million)

  • North America

  • Europe

  • Asia Pacific

  • South America

  • Middle East And Africa

Source: https://finance.yahoo.com/Author: shangyi

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