BURLINGAME, Calif., Dec. 11, 2023 /PRNewswire/ -- According to CoherentMI, The Pharmaceutical Glass Tubing Market was valued at US$ 8.3 Billion in 2023 and is anticipated to reach a value of US$ 11.2 Billion by 2030 at a CAGR of 7.1% during forecast period 2023 and 2030.
The pharmaceutical glass tubing market is driven by several factors. Firstly, the growing demand for customized glass tubing in the pharmaceutical industry is fueling market growth. Customized glass tubing allows pharmaceutical companies to produce various types of ampoules, vials, and syringes based on specific requirements. This helps in ensuring the safety and efficacy of pharmaceutical products, thereby driving the demand for pharmaceutical glass tubing.
Secondly, the increasing research and development activities in the pharmaceuti,cal industry are also driving market growth. Pharmaceutical companies are investing heavily in R&D to develop innovative drugs and therapies. Glass tubing plays a crucial role in the packaging and delivery of these drugs, thus increasing the demand for pharmaceutical glass tubing.
Market Trends:
Two key trends are shaping the pharmaceutical glass tubing market. Firstly, there is a growing trend of using high-quality borosilicate glass tubing in the pharmaceutical industry. Borosilicate glass offers excellent thermal and chemical resistance, making it suitable for packaging sensitive pharmaceutical products. This trend is driving the demand for borosilicate glass tubing in the pharmaceutical industry.
Secondly, there is an increasing focus on sustainable packaging solutions in the pharmaceutical industry. Glass is considered a sustainable packaging material as it is recyclable and poses minimal environmental impact. Pharmaceutical companies are increasingly adopting glass tubing for packaging their products to meet the growing consumer demand for sustainable options.
Recent Developments:
- On June 8, 2023, Corning and SGD Pharma collaborated on new glass tubing facility in India, bolstering pharmaceutical manufacturing and enabling SGD to utilize Corning's Velocity Vial technology.
- In October 2020, Nippon Electric Glass Co., Ltd. expands glass tubing production for pharmaceuticals at Shah Alam Facility in Selangor.
Growing Demand for Pharmaceutical Glass Tubing
The market opportunity in the pharmaceutical glass tubing industry stems from the increasing demand for glass tubing in the pharmaceutical sector. Glass tubing is widely used in pharmaceutical manufacturing processes, particularly for packaging purposes such as vials, ampoules, syringes, and bottles.
The dominating product type in this segment is vials, which are extensively used in the storage and transportation of pharmaceutical products. Vials offer advantages such as inertness, impermeability, and durability, making them ideal for preserving the efficacy of drugs.
In terms of end users, the pharmaceutical industry holds a dominant position. With the rising prevalence of chronic diseases and the need for innovative drug formulations, the demand for pharmaceutical glass tubing is expected to witness substantial growth. Additionally, the biotechnology, diagnostics, and chemical industries also contribute to the growing demand for glass tubing.
The distribution channel for pharmaceutical glass tubing is primarily dominated by distributors, who play a crucial role in connecting manufacturers with end users. However, the online distribution channel is gaining traction due to its convenience and wider reach.
The manufacturing process of glass tubing is predominantly conducted through tubing, which involves the formation and shaping of glass into specific dimensions and designs. This process enables the production of high-quality glass tubing that meets the stringent requirements of the pharmaceutical industry.
In terms of regional dominance, North America is expected to hold a significant position in the pharmaceutical glass tubing market. The region is home to several established pharmaceutical companies and research organizations, driving the demand for high-quality glass tubing.
Expanding Scope in Research and Forensic Applications
Another market opportunity in the pharmaceutical glass tubing industry lies in its expanding scope in research and forensic applications. Glass tubing finds applications beyond the pharmaceutical sector, with its usage extending to research laboratories and forensic investigations.
In research applications, glass tubing is utilized for various purposes, such as sample storage, chemical reactions, and experimental setups. Its transparency, chemical inertness, and thermal resistance make it an ideal material for scientific research.
In the forensic field, glass tubing is commonly used in the collection and preservation of evidence, such as biological samples, blood, and other trace materials. The transparency and non-reactive nature of glass tubing ensure the integrity of the collected samples, aiding in accurate forensic analysis.
Key Market Takeaways:
- The pharmaceutical glass tubing market is anticipated to witness a CAGR of 7.1% during the forecast period 2023-2030, owing to factors such as the growing demand for glass tubing in the pharmaceutical industry, expanding applications in research and forensic sectors, and the increasing prevalence of chronic diseases.
- On the basis of product type, the vials segment is expected to hold a dominant position, owing to its wide usage in packaging biologics and biosimilars. It is projected to experience significant growth due to the increasing prevalence of chronic diseases and the need for advanced healthcare treatments.
- In terms of end users, the pharmaceutical segment is expected to dominate the market. The pharmaceutical industry is the primary user of pharmaceutical glass tubing, accounting for the largest market share. However, the biotechnology, diagnostics, and chemical sectors are also expected to contribute to the market's growth.
- Distributors are expected to dominate the distribution channel segment of the pharmaceutical glass tubing market. These intermediaries play a crucial role in ensuring the availability of pharmaceutical glass tubing to the end-users. However, direct sales and online channels are also gaining traction in the market.
- The manufacturing process segment is dominated by tubing. This process involves the manufacture of glass tubing, which is then further processed to create various pharmaceutical packaging materials such as vials, ampoules, and syringes.
- North America is expected to dominate the pharmaceutical glass tubing market, attributed to the presence of established pharmaceutical companies and research organizations in the region.
Key players operating in the pharmaceutical glass tubing market include Schott AG, Nipro Pharma Corporation, Corning Incorporated, NEG Glass, PreCision Glass & Packaging, 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, Bormioli Rocco S.p.A., SGD S.A., Qorpak, Division of Berlin Packaging. These key players contribute to the market growth by manufacturing and supplying high-quality pharmaceutical glass tubing to meet the diverse needs of the industry.
Read complete market research report, "Pharmaceutical Glass Tubing Market Size And Share Analysis - Growth Trends And Forecasts (2023 - 2030)", Published by CoherentMI.
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
- By Region:
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- GCC Countries
- Rest of Middle East & Africa
FAQ's:
- What factors are impeding the growth of the Pharmaceutical Glass Tubing Market?
- What are the primary drivers fueling the growth of the Pharmaceutical Glass Tubing Market?
- Which segment dominates as the leading component in the Pharmaceutical Glass Tubing Market?
- Who are the key players actively participating in the Pharmaceutical Glass Tubing Market?
- Which region is expected to take the lead in the Pharmaceutical Glass Tubing Market?
- What is the projected CAGR of the Pharmaceutical Glass Tubing Market?
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