The global pharmaceutical glass packaging market is set to gain momentum from the increasing development of new types of glasses owing to the high demand from the pharmaceutical industry. This information is given by Fortune Business Insights™ in a new study, titled, “Pharmaceutical Glass Packaging Market Size, Share & Industry Analysis, By Product (Vials & Ampoules, Bottles, Cartridges, and Syringes), By Drug Type (Generic, Branded, and Biologic), and Regional Forecast, 2020-2027.” The study further mentions that the pharmaceutical glass packaging market size was USD 6.31 billion in 2019 and is projected to reach USD 10.76 billion by 2027, exhibiting a CAGR of 6.3% during the forecast period.
Surging Demand for Drugs Associated with COVID-19 to Affect Growth Positively
The COVID-19 pandemic has severely affected a large number of industries worldwide. But, the pharmaceutical industry was least impacted as governments of various countries declared it to be essential. Many pharmaceutical glass packaging manufacturers are experiencing high demand for COVID-19-related products. Hence, they are implementing novel technologies to automate their operations. Our research reports will help you better understand the current scenario of the market so that you can adopt the right strategy.
How Did We Create This Report?
As customer expectations are changing, the aspirations of dealers are also transforming rapidly. Distribution channels are becoming complex. To provide our clients with detailed information, we have conducted extensive primary and secondary research. We have thoroughly investigated each opportunity qualitatively and quantitatively so that our clients get a complete picture of both emerging and existing opportunities in the market for pharmaceutical glass packaging. We have also conducted a techno-economic study.
Drivers & Restraints-
Rising Awareness of Health to Favor Growth
The pharmaceutical industry is expanding rapidly across the globe. The rising expenditure on public healthcare systems, increasing awareness of health, and astonishingly surging population are the prime factors for the pharmaceutical glass packaging market growth in the upcoming years. However, the industry is making more usage of plastic packaging nowadays backed by its impact resistance, cost effectiveness, easy molding, and flexibility properties. It may lower the demand for pharmaceutical glass packaging.