Global Pharmaceutical Glass Tubing Market Grows Steadily at a CAGR of 6.65%

Introduction

Pharmaceutical tubing is used as a raw material by pharmaceutical packaging enterprises to make significant packaging goods. Modern pharmaceutical tubing manufacturing techniques and equipment are exceedingly sophisticated. Most pharmaceutical applications require tubing to meet certain specifications. Glass is more frequently utilized in pharmaceutical packaging due to strict rules to improve the integrity and caliber of domestically produced products.

Market Dynamics

Pharmaceutical Industry Development in Emerging Economies Drives the Global Market

India's pharmaceutical industry is growing thanks to government initiatives. For instance, in July 2020, the Indian government suggested a production incentive (PLI 1.0) scheme to improve India's bulk drug security. The training included necessary starting materials, discovered drug intermediates, and active pharmaceutical components. In addition, India has some of the lowest manufacturing costs in the world. Compared to the US and almost all of Europe, it is more tranquil. Major pharmaceutical corporations are also making investments as a result of the pandemic. For instance, as of February 2020, Piramal Enterprises had USD 42 million for national expansion. The enormous investments made by major pharmaceutical manufacturers have spurred the industry's rise and the demand for packaging.

High Recyclable Properties of Glass Creates Tremendous Opportunities

The rapidly increasing commodity value of glass due to its recycling capacity drives the demand for glass tubing. Vials, ampoules, cartridges, and syringes made of glass are recyclable, making them a more environmentally friendly choice. When taken to recycling facilities, glass vials are broken up into small bits. After being broken into smaller pieces, the crushed pieces are sent through a rotating screen classifier, which divides them into different groups.

Plastic products are governed by stringent regulatory limits due to their ability to be recycled, which significantly impacts glass tubing expansion. The United Kingdom announced details of a GBP 200/tonne plastic packaging tax in March 2021 as part of its Finance Bill 2021. Furthermore, the usage of glass is in line with global recycling goals. The EPA established a 50% national recycling goal for 2030. The national policy will also invest in advanced garbage sorting and separation techniques to raise the caliber of the recycling stream and make it more advantageous for the environment and the economy.

Regional Analysis 

Europe is the most significant shareholder in the global pharmaceutical glass tubing market and is expected to grow at a CAGR of 6.00% during the forecast period. Due to the various applications for tubing across the country and the increasing complexity of the manufacturing process for pharmaceutical tubing, production tools, and fabrication techniques have improved. Germany is home to some of the most well-known producers of pharmaceutical glass packaging, such as Schott AG and Gerresheimer AG. As a result of stringent legislation being adopted in the country to ensure the quality and integrity of pharmaceuticals created domestically, glass is increasingly being used for pharmaceutical packaging goods. Additionally, there is a demand for sterile medical packaging products from the pharmaceutical sector, which is anticipated to drive market growth over the forecast period.

North America is expected to grow at a CAGR of 6.45%, generating USD 6.70 billion during the forecast period. The two most typical types of packaging in the US are glass bottles and syringes. The US also holds a monopoly on the pharmaceutical industry in terms of both manufacturing and consumption. According to STAT, US spending on prescription medications will increase to USD 600 billion by 2023 from an anticipated USD 500 billion in 2019. This growth is projected to further fuel the US market for glass packaging for pharmaceuticals. The United States dominates the North American market for pharmaceutical glass packaging due to the significant presence of foreign manufacturers like Owens, Illinois, Corning, and Gerresheimer.

The China region is continuously experiencing advances to solve the nation's production plant and facility restrictions for glass tube packaging. For example, Chongqing invested in creating equipment that converts glass tubes into vials for COVID-19 immunizations. Demand for borosilicate glass-tipped needles, cartridges, vials, and ampoules is increasing as diabetes cases rise in China. For instance, Novo Nordisk predicted Levemir, a long-acting insulin therapy, will produce DKK 1.05 billion in sales in Denmark in 2020. Sales of Tresiba insulin for the company rose dramatically to DKK 418 million. The increased demand for insulin is the primary factor driving the increase in glass tubing.

Key Highlights

• The global pharmaceutical glass tubing market was valued at USD 14.79 billion in 2021. It is projected to reach USD 26.40 billion by 2030, growing at a CAGR of 6.65% during the forecast period (2022-2030).

• Based on application, the global pharmaceutical glass tubing market is bifurcated into vials, ampoules, cartridges, and syringes. The vials segment is the highest contributor to the market and is expected to grow at a CAGR of 6.70% during the forecast period.

• Europe is the most significant shareholder in the global pharmaceutical glass tubing market and is expected to grow at a CAGR of 6.00% during the forecast period.

Competitive Players

Competitive Players

The global pharmaceutical glass tubing market's major key players are Schott AG, Nipro Pharma Corporation, Corning Incorporated, Nippon Electric Glass Co. Ltd, Accu-Glass LLC, Jinan Youlyy Industrial Co. Ltd, Cangzhou Four-star Glass Co. Ltd, LINUO Group, DWK Life Sciences GmbH, Aimer Products Limited, Puyang New Harmony Industrial Development Co. Ltd, Shandong Pharmaceutical Glass Co. Ltd, and Jinan Snail International Co. Ltd.

Recent Developments

Market News

• In September 2022, Tens of millions of euros will be spent, and China and Hungary will be able to create far more pharmaceutical cartridges. Cartridges are used to store and dispense medications that can be self-injected with an auto-injector, such as insulin, GLP-1, or growth hormones. SCHOTT Pharma offers cartridges that may be used with several devices and provide safe, easy-to-use drug administration in incredibly accurate doses. The capital will be used to develop the company's cutting-edge shaping technology and online inspection tools.

Segmentation

Global Pharmaceutical Glass Tubing Market: Segmentation

By Applications

• Vials
• Ampoules
• Cartridges
• Syringes

• Others

By Regions

• North America
• Europe
• Asia-Pacific
• LAMEA