Saudi Arabia Pharmaceutical Glass Packaging Market Size

Saudi Arabia Pharmaceutical Glass Packaging Market Analysis

The Saudi Arabian pharmaceutical glass packaging market is anticipated to register a CAGR of 4.32% over the forecast period. Growing demand from the pharmaceutical sector and widespread use of generic injectable medications are expected to drive market expansion.

• Glass prevents gases like carbon dioxide and oxygen from getting into the main container, reducing the chance of medication contamination. Drug deterioration, including oxidation and hydrolysis, is less likely to occur when packaged in glass. Additionally, glass packaging helps to prevent volatile compounds from escaping, improving medicine stability. All of these factors are expected to increase product demand in the country.
• Strict rules regarding drug delivery products have been established due to the rising relevance of biotech and cost-sensitive medications in the healthcare industry. Many companies in the pharmaceutical glass manufacturing industry are investing in pharmaceuticals because they are concentrating on packaging, which is intended to lengthen the shelf life of a product.
• For instance, in June 2021, GlaxoSmithKline and Saudi Chemical Company Holding (SCCH) made a contract to produce pharmaceuticals in Saudi Arabia. AJA Pharmaceutical Industries, a division of SCCH, will collaborate with GlaxoSmithKline Consumer Healthcare Saudi in a five-year, SAR 100 million (USD 26.66 million) manufacturing agreement. Additionally, the new alliance would contribute to expanding Saudi Arabian jobs in the country's pharmaceutical industry.
• Further, in Saudi Arabia, rising lifestyle diseases and strong brand loyalty for foreign medicines are projected to drive up pharmaceutical demand throughout the forecast period. The expansion of the Saudi pharmaceuticals sector is also fueled by rising per capita income, a growing healthcare infrastructure, and greater penetration of health insurance companies in the Kingdom.
• Moreover, the rise in non-communicable diseases and improved healthcare facilities are primarily responsible for Saudi Arabia's fast growth in pharmaceutical packaging demand. MNCs dominate Saudi Arabia's pharmaceutical packaging industry with a significant market share. The market's rise is anticipated to be aided by rising healthcare spending and increased health consciousness.
• The COVID-19 pandemic caused supply chain disruptions and a lack of raw materials in several industries, but it had little impact on the pharmaceutical sector. Pharmaceutical businesses were exempt from shutdown restrictions because they are vital to the community. Companies in the industry met the growing demand for packaging from pharmaceutical items connected to COVID-19, by automating their processes and using the fewest possible human resources to prevent the spread of the virus. Further, the Russia-Ukraine war has an impact on the overall packaging ecosystem.