by Pharmaceutical glass tubing is widely used in the pharmaceutical industry for the manufacturing of vials, cartridges, ampoules and syringes that are used for safe storage and delivery of various medications. Pharmaceutical glass tubing provides chemical durability and maintains sterility of medications during use, handling and transportation. The rising prevalence of chronic diseases has increased the global demand for pharmaceutical products which in turn is driving the demand for pharmaceutical glass tubing.
The global pharmaceutical glass tubing market is estimated to be valued at US$ 8.3 Bn in 2023 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023-2030, as highlighted in a new report published by CoherentMI.
Market Dynamics:
The growing demand for pharmaceutical glass tubing is expected to be driven by two key factors. Firstly, the rising demand for parenteral and injectable drug delivery systems owing to significant growth in chronic disease prevalence globally is expected to boost market growth during the forecast period. Pharmaceutical glass tubing finds wide usage in manufacturing of cartridges, ampoules and syringes used for injectable drug administration. Secondly, stringent regulations regarding medication safety and sterile packaging is compelling pharmaceutical manufacturers to use glass as the preferred material for primary packaging over plastics. Pharmaceutical glass provides excellent barrier properties against moisture, gasses and microbes, thus ensuring long term stability and sterility of medication. These properties of glass makes it compliant with stringent pharmaceutical packaging regulations. The drivers mentioned above are expected to propel the global pharmaceutical glass tubing market during the forecast period.
Segment Analysis:
The pharmaceutical glass tubing market can be segmented into molded glass tubing and fine borosilicate glass tubing based on raw material type. The fine borosilicate glass tubing segment currently dominates the market owing to its higher performance abilities like high chemical resistance, narrow tolerances, and high surface stability. This segment is expected to continue its dominance over the forecast period due to its extensive usage in pharmaceutical filling applications that require high precision.
Global Pharmaceutical Glass Tubing Market Segmentation:
- By Product Type
- Vials
- Ampoules
- Cartridges
- Syringes
- Bottles
- Others (Tubes, Rods, Stoppers etc.)
- By End User
- Pharmaceutical
- Biotechnology
- Diagnostics
- Chemical
- Others (Research, Forensics etc.)
- By Distribution Channel
- Direct Sales
- Distributors
- Online
- Others
- By Manufacturing Process
- Tubing
- Molding
- Extrusion
- Others
PEST Analysis:
Political: Favorable regulations by governments across the world for the healthcare sector are expected to drive market growth. However, stringent regulations on the production of pharmaceutical glass tubing may restrain the market to some extent.
Economic: Growth in healthcare infrastructure and pharmaceutical industry spending is likely to propel market expansion. However, fluctuations in raw material prices may hamper market revenue.
Social: Rising population and changing lifestyles leading to increased incidence of diseases will accelerate product demand. Aging population is also augmenting market growth.
Technological: Advancements in glass tube processing and manufacturing technologies help improve product quality. Automation has increased production efficiency. However, high R&D costs involved act as a barrier.
Key Takeaways:
The global Pharmaceutical Glass Tubing Market Size is expected to witness high growth over the forecast period. The global Pharmaceutical Glass Tubing Market is estimated to be valued at US$ 8.3 Bn in 2023 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023-2030.
Regional analysis indicates that Asia Pacific region currently dominates the market due to abundant availability of raw materials and low-cost manufacturing. The region is estimated to continue its dominance in the coming years, driven majorly by China and India which are the fastest growing pharmaceutical markets globally.
Key players operating in the pharmaceutical glass tubing market are Schott AG, Nipro Pharma Corporation, Corning Incorporated, NEG Glass, Shandong Pharmaceutical Glass Co., Ltd., Borosil Glass Works Ltd., Thermo Fisher Scientific, Richland Glass, Haldyn Glass Ltd., Duran Group GmbH, Epax Systems, Linuo Group Glass Products Co., Ltd., JSG Pharma, Fushan Technology, NAFEMS, Saverglass Group, Division of Berlin Packaging. Nipro Pharma Corporation holds a substantial market share owing to its wide product portfolio and diverse customer base. However, competition is expected to intensify with manufacturers focusing on new product launches and expanding their geographic footprint over the forecast period.
*Note:
1.Source: CoherentMI, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
