Market Trends of Pharmaceutical Glass Packaging Industry
Pharmaceutical Industry in Emerging Economies to Drive Growth
- Emerging markets are described as growing prosperous nations where investment is anticipated to increase profits despite significant risks. While pharmaceutical sales grow slowly in many developed nations, emerging market sales patterns indicate ongoing expansion. Several economic and demographic variables influence the trend in these markets, such as challenging conditions in established markets, with growth that has been flattened due to patent expiration, cost-cutting measures that encourage generic replacement, and strict enforcement of restrictions.
- The pharmaceutical glass packaging industry has seen significant penetration in nations like China. Glass pharmaceutical packaging is becoming more widely used in developed countries. After COVID-19, the healthcare and pharmaceutical sectors are growing in emerging nations, presenting opportunities for the pharmaceutical glass packaging market.
- For instance, in September 2022, SCHOTT Pharma expanded cartridge output in China. Several million investments are intended to significantly improve the manufacturing capabilities for pharmaceutical cartridges in China and Hungary.
- Moreover, R&D is highly valued in India's pharmaceutical sector. India became a worldwide medical giant in 2022 by enlarging its R&D ecosystem and raising pharmaceutical exports, creating opportunities for various domestic glass packaging vendors.
- Furthermore, Southeast & East Asia is expected to generate USD 263 billion in pharmaceutical sales and take the third position after North America and Europe. All the growth factors and investments by significant market incumbents due to the industry's growth are anticipated to drive the market’s growth.
Understand The Key Trends Shaping This Market
Download PDF
Asia-Pacific to Witness Significant Growth
- The Chinese pharmaceutical glass packaging market is expected to grow rapidly as China has built a standard system for the pharmaceutical industry over the years. The country pays more and more attention to the stability of pharmaceutical packaging materials during the drug storage period and safety when used. Against this background, new green, degradable, and easy-to-use pharmaceutical packaging materials and vessels are booming.
- China's large and rapidly growing healthcare market has been an obvious target of opportunity for the glass packaging market due to the presence of major multinational pharmaceutical companies. These companies are among the most significant revenue earners in the Chinese pharmaceutical market.
- In India, pharmaceutical glass packaging has been growing due to the increasing usage of generic injectable drugs in the healthcare industry. Pharmaceutical glass packaging is available in various drug types, such as injectable and non-injectable. The significant properties of pharmaceutical glass packaging include its high chemical durability, which maximizes the reliability of the products.
- The demand for glass packaging in India is expected to proliferate as India is a prominent and expanding player in the global medicines market. According to data published on the India Brand Equity Foundation website, India is the world's largest provider of generic pharmaceuticals, accounting for 20% of the worldwide supply and meeting over 60% of global vaccine demand. According to India Ratings & Research, the Indian pharmaceutical market revenue was predicted to increase by more than 12% in 2022.
- Furthermore, Japan has one of the fastest-growing pharmaceutical industries after the United States and constantly focuses on steady innovation and patented drugs. The Government of Japan also contributes to this growth through deregulations for international companies to invest, thereby driving the country's pharmaceutical market.
- The scope of the Rest of the Asia-Pacific region covers Indonesia, Australia, Singapore, Thailand, South Korea, and Malaysia. The market is driven by the growth in international partnerships, biosimilars, the expansion in the export of finished formulations, and a robust generics market.
Get Analysis on Important Geographic Markets
Download PDF
