The global pharmaceutical glass packaging market is anticipated to grow at a CAGR of 5.4% during the forecast period (2020-2026). The key factors that drive the growth of the market include the increased demand for glass packaging products as they do not react with medicine or drug. Glass packaging products are also non-reactive with other chemicals, clean, dust-free as well as recyclable, owing to which these glass products are highly preferred by the pharma companies. Increased awareness regarding various diseases has increased in the intake of several vaccinations and medications to prevent the disease. The market is also driven by increasing biopharmaceutical R&D and growing funding by national governments in the pharmaceutical industry.
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Further, the outbreak of COVID-19 started in December 2019 and with time, the world has witnessed a colossal upsurge in the number of new positive cases. The total number of global confirmed cases of COVID-19 exceeded 32 million, while the number of global mortalities exceeded 900,000. Such a severe impact from COVID-19 burdened the biopharmaceutical players to develop a vaccine and contain the spread of the COVID-19 pandemic. The continuous research in the field of infectious diseases and vaccines is fueling the demand for the pharmaceutical glass packaging market over the forecast period.
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Global Pharmaceutical Glass Packaging Market Segmentation
By Product Type
· Bottles
· Vials
· Cartridges& Syringes
· Others (Ampoules)
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