Market Size in 2020 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 4.18 Billion | USD 8.01 Billion | 8.9% | 2020 |
FrequentlyAsked Questions
Surge in number of chronic disorders and discovery of new drug molecules has resulted in positive outcomes for pharmaceutical glass packaging market growth in terms of both volume and revenue. Additionally, glass obstructs various kinds of gases such as oxygen and carbon dioxide when it tries to enter primary container. This, in turn, helps in reducing risk of medicine getting contaminated. Apart from this, glass packaging of drugs aids in alleviating medicine degradation due to hydrolysis and oxidation. All these aforementioned aspects will help pharmaceutical glass packaging market register marked growth.
According to Zion market research report, the global Pharmaceutical Glass Packaging Market accrued earnings worth approximately 4.18 (USD Billion) in 2020 and is predicted to gain revenue of about 8.01(USD Billion) by 2028, is set to record a CAGR of nearly 8.9% over the period from 2021 to 2028.
North America will contribute lucratively towards the global market earnings over the projected timeline. The regional market surge is subject to rise in allocation of funds for producing generic drugs. High government focus on producing drugs that are effective against chronic diseases and can be stored for long period is predicted to embellish expansion of pharmaceutical glass packaging market in sub-continent over years to come. Presence of giant players in region is predicted to contribute sizably towards regional market revenue in coming decade.
The key market participants include Gerresheimer AG, Beatson Clark, West Pharmaceutical Services, Inc., Schott AG, Bormioli Pharma S.r.l, Stölzle-Oberglas GmbH, Corning Incorporated, SGD S.A., Nipro Corporation, and Shandong Medicinal Glass Co., Ltd.
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