Global $22 Billion Pharmaceutical Glass Tubing Market Outlook to 2027

Dublin, Jan. 28, 2021 (GLOBE NEWSWIRE) -- The "Pharmaceutical Glass Tubing - Global Market Outlook (2019-2027)" report has been added to ResearchAndMarkets.com's offering.

Global Pharmaceutical Glass Tubing market accounted for $12.35 billion in 2019 and is expected to reach $22.03 billion by 2027 growing at a CAGR of 7.5% during the forecast period.

Growth of the pharmaceutical industry in emerging economies and commodity value of glass increased with recyclability are the major factors driving the market growth. However, increased relevance of alternate sources is restraining the market growth.

Glass is one of the most widely used packaging materials in the pharmaceutical industry. Most of the primary packaging products, such as bottles, ampoules, vials, and syringes, in the industry are made up of the glass material. Pharmaceutical tubing is primarily used as a raw material by the pharmaceutical packaging players to manufacture the end-user primary packaging products.

Based on application, the bottles segment is likely to have a huge demand as glass bottles are among the primary packaging materials used in the pharmaceutical industry. A considerable number of pharmaceutical formulations have been packaged using glass bottles, and they are usually the first choice of packaging materials.

By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to increasing pharmaceutical production in countries such as India and China. Further, manufacturers and suppliers are focusing on shifting their base to China and India, as a result of increasing opportunities offered by the pharmaceutical industry in these countries, especially in the generics sector.