Pharma Glass Tubing Market Size

Pharma Glass Tubing Market Analysis

The pharmaceutical glass tubing market was valued at USD 13.55 billion in 2020, and it is projected to reach USD 19.98 billion by 2026, and grow at a CAGR of 6.29% over the forecast period. With the outbreak of COVID-19 in different parts of Asia-Pacific, Europe, Africa, and others, there remains uncertainty in the supply chain and expansion of glass tubing. For instance, In March 2021, the lockdown was imposed again in Malaysia, resulting in shrinkage in plants and manufacturing facilities. On similar lines, the United Kingdom recently imposed a lockdown in the country due to the growing new delta variants. However, the pharmaceutical glass tubing market's outlook remains positive due to the growth in vaccines and drugs by the pharmaceutical industry.

• The rapidly growing pharmaceutical industry across the world is boosting the growth of the market. The introduction of stringent laws to enhance the quality and integrity of domestically manufactured drugs leads to an increase in the use of glass for pharmaceutical packaging products. Additionally, the increasing demand for sterile medical packaging products from the pharmaceutical industries further drives the market's growth during the forecast period.
• The increasing number of drugs packaged in the glass medium drives the demand for glass-based injectables and ampules. According to the World Health Organization (WHO), around 422 million people have diabetes worldwide. The increasing number further driving the demand for penicillin, thereby contributing to the growth of the market
• Moreover, prominent manufacturers and suppliers have been focusing on shifting their base to China, India, and Brazil due to increasing opportunities offered by the pharmaceutical industry in these countries, especially in the generics sector. For instance, in June 2021, SCHOTT AG, a prominent player in the Glass tubing market, launched a new tubing plant in China. The new factory eases the supply chain pressure on pharma glass tubing and helps raise quality standards for safely storing and packaging medications. The factory has an initial capacity of 20,000 metric tons of glass and room for further expansion. The company is also focusing on ensuring the safety of tubes by using AI and Big Data. Each tube produced is inspected 100% based on the company's perfeXion process.
• However, plastics used in medical applications adhere to rigid quality and safety standards, with rigorous testing for non-toxic, non-carcinogenic, biocompatible characteristics. Over the past few quarters, silicone's dominance in the medical and pharmaceutical marketplace expanded, and various competitive elastic materials have been developed. External effects on the tubing are often overlooked compared to the internal impacts.