May 22, 2024
Global Pharmaceutical Glass Tubing Market

Global Pharmaceutical Glass Tubing Market Is Trending by Increasing Demand for Advanced Medical Equipment And Devices

 

Pharmaceutical glass tubing is used for packaging various medicines such as injectable drugs, liquid solutions and other medical preparations. It provides optimal product protection along with material integrity due to its resistance to corrosion, heat and breakage.

The Global Pharmaceutical Glass Tubing Market Size Is Estimated To Be Valued At US$ 8.3 Bn In 2024 And Is Expected To Exhibit A CAGR Of 7.1% Over The Forecast Period 2024-2031.

Key players operating in the Global Pharmaceutical Glass Tubing Market are 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.

Key Takeaways

Key Players: Schott AG is one of the leading players known for producing high-quality pharmaceutical glass tubing for medical applications. Corning Incorporated is another prominent player focusing on developing borosilicate glass tubing with superior thermal shock resistance and chemical durability.

Growing Demand: There is a growing demand for pharmaceutical glass tubing due to the increasing use of injections, ampoules and medical devices globally. The rising prevalence of chronic diseases is further propelling the need for advanced drug delivery solutions.

Global Expansion: Leading glass tubing manufacturers are exploring opportunities in developing nations to cater to their huge patient bases. They are also diversifying their product portfolios by providing customized solutions as per end-user requirements.

Market Key Trends

One of the key trends in the market is the increasing demand for advanced medical equipment and devices. This is prompting glass tubing manufacturers to develop high-performance glass with better mechanical and chemical properties. Borosilicate glass tubing is increasingly gaining traction due to its superior strength, thermal stability and resistance to breakage or leakage. Moreover, innovations in glass chemical composition are helping enhance the bioavailability and stability of drugs during storage and transportation. Advancements in glass coating technology are also expanding the application scope of pharmaceutical glass tubing in novel drug delivery systems.

Porter’s Analysis

Threat Of New Entrants: Low barriers to entry as glass tubing production requires large capital investments and extensive R&D. Established brands have significant supply chain network and customer base.

Bargaining Power Of Buyers: Buyers have moderate bargaining power due to availability of substitutes and fragmented nature of buyers. However, requirements of stringent validation and regulatory approvals increases buyer dependency on reliable suppliers.

Bargaining Power Of Suppliers
: Suppliers of raw materials like borosilicate glass have moderate to high bargaining power due to limited availability and need for special quality. Suppliers differentiate through customized product solutions.

Threat Of New Substitutes: Limited threat as glass is an indispensable material for pharmaceutical packaging and storage. However, alternative materials like plastic are used for non-critical applications.

Competitive Rivalry: Intense competition among global and regional players. Differentiation is through innovation, quality, regulatory compliance and supply chain capabilities.

North America is currently the largest market for pharmaceutical glass tubing, accounting for over 40% of global market value. This is due to presence of many pharmaceutical manufacturers and stringent regulations. Asia Pacific is the fastest growing regional market driven by expanding pharmaceutical industry, favorable regulations and low cost of production. China and India contribute majorly to the growth in Asia Pacific region.

Geographical Regions:

The United States accounts for the bulk of the North American market owing to high pharmaceutical R&D spending and manufacturing activity. Canada and Mexico are other prominent markets in the region supported by trade agreements and proximity to the US market.

Germany dominates the European market led by large pharmaceutical industry and stringent regulations for drug packaging. Other major European countries include France, UK, Italy and Spain.

Asia Pacific region provides immense growth opportunities for pharmaceutical glass tubing market. China and India hold the largest market shares in the region supported by expanding generic drug manufacturing industries and lower production costs compared to Western countries. Japan also contributes significantly with its large pharmaceutical sector.

What are the key data covered in this Global Pharmaceutical Glass Tubing Market report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the Global Pharmaceutical Glass Tubing Market’s growth between 2024 and 2031.

:- Accurate calculation of the size of the Global Pharmaceutical Glass Tubing  Market and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behavior

:- Global Pharmaceutical Glass Tubing  Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of Global Pharmaceutical Glass Tubing  Market vendors

FAQ’s

Q.1 What are the main factors influencing the Global Pharmaceutical Glass Tubing market?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Global Pharmaceutical Glass Tubing Market companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Global Pharmaceutical Glass Tubing market’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?

*Note:

  1. Source: CoherentMI, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it