Europe Glass Prefilled Syringes And Glass Vials Packaging Equipment Market Expected To Fuel Industry Growth With $311.3 Million By 2030: Grand View Research Inc.

 


San Francisco, 25 September 2023: The Report Europe Glass Prefilled Syringes And Glass Vials Packaging Equipment Market Size, Share & Trends Analysis Report By Machine Type (Cleaning Machine, Filling Machine, Labeling Machine, Closing/Sealing Machine), By Region And Segment Forecasts, 2023 - 2030

The Europe glass prefilled syringes and glass vials packaging equipment market size is anticipated to reach USD 311.3 million by 2030, growing at a CAGR of 5.5% during the forecast period, according to a new report by Grand View Research, Inc. One of the key drivers for the growth is the flourishing pharmaceutical industry in the region. The ongoing advancements in technologies employed in the pharmaceutical industry and new medicine launches have fueled the demand for glass prefilled syringes and glass vials packaging equipment in Europe.

Glass-prefilled syringes are becoming popular among medical professionals and are being used in various areas such as hospital operating rooms and emergency rooms. They are also utilized by individuals with chronic conditions who frequently undertake parenteral self-injecting doses of different medicines. In contrast to glass prefilled syringes, vials have a transparent, smooth surface that enables the users to check packed content for contamination or deterioration. These factors are anticipated to fuel the demand for glass vials in Europe in the coming years.

According to the European Federation of Pharmaceutical Industries and Association, the pharmaceutical research and development expenditure in the region increased from USD 41,289 million in 2019 to USD 43,225 million in 2020, while research and development expenditure in Germany and France in the same year stood at USD 8,516 million and USD 4,812 million, respectively. In September 2022, Gerresheimer AG partnered with Stevanato Group S.p.A. to develop a ready-to-use solution platform with a major focus on vials.

The increasing research and development expenditure for launching new medicines in the market, along with the surging production of prefilled syringes and vials in the region, are contributing to the growth of the market in Europe over the forecast period. The chart below shows pharmaceutical production in France, Germany, Italy, Switzerland, and Spain in 2020. It is seen that pharmaceutical production was the highest in Switzerland, standing at USD 57,983 million, while it was lowest in Spain, standing at USD 17,708 million in 2020 is also fueling the growth of this segment.

The rising healthcare expenditure and the surging demand for drug delivery systems in Europe are the factors expected to fuel the growth of the market. This increasing popularity of these products is anticipated to augment the demand for their packaging equipment in the region, thereby fueling the growth of the market. Moreover, many manufacturers are actively focusing on the development and modernization of production facilities and technology related to advanced drug delivery systems (ADDS) and glass pre-fillable syringes; such developments are expected to drive the demand for packaging equipment over the forecast period.

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The biologics and biosimilar market is experiencing significant global growth, and Germany is a major player in this sector. Biologics and biosimilars are complex drugs derived from living organisms, often requiring specialized packaging solutions to maintain their stability and efficacy.

Europe Glass Prefilled Syringes And Glass Vials Packaging Equipment Market Report Highlights

  • The closing/sealing machine segment held 16.0% of the market share in 2022 owing to low energy consumption, simple orientation, low maintenance requirements, and high production rate. Moreover, vial closing/sealing machines are significantly used for stoppering and sealing vials containing vaccines or injectable products
  • The surging demand for drug delivery devices in Europe is anticipated to be another key factor driving the growth of the pharmaceutical industry in the region. This is expected to propel the demand for glass syringes and vials in Europe in the coming years
  • The rising healthcare expenditure and the surging demand for drug delivery systems in Europe are expected to fuel the growth of glass prefilled syringes and glass vials packaging equipment market in the region during the forecast period
  • One of the major restraints for the market growth is the high initial capital investments required for acquiring and installing these equipment. The equipment used for packaging prefilled syringes are costly. This poses a barrier for small- and medium-sized enterprises or countries with limited financial resources
  • In June 2023, DWK Life Sciences announced the expansion and modernization of its glass vial manufacturing facility in Rockwood, Tennessee to meet the increasing demand for borosilicate glass vials used for vaccines and drugs. The company connected its new equipment deployments with substantial enhancements to its existing equipment to nearly double its manufacturing capacity. With significant funds invested in this facility, DWK Life Sciences has fully automated production lines and a centralized Class 8 accredited cleanroom

Glass-prefilled syringes and glass vials are commonly used for their storage and administration. As the demand for biologics and biosimilars increases, there may be a corresponding rise in the need for glass prefilled syringes and glass vials packaging equipment designed specifically for these products, which is expected to drive market growth over the forecast period.

Europe Glass Prefilled Syringes And Glass Vials Packaging Equipment Market Report Scope

Report Attribute

Details

Market size value in 2023

USD 200.0 million

Revenue forecast in 2030

USD 311.3 million

Growth rate

CAGR of 5.5% from 2023 to 2030

Base year for estimation

2022

Historical data

2018 - 2021

Forecast period

2023 - 2030

List of Key Players in the Europe Glass Prefilled Syringes And Glass Vials Packaging Equipment Market

  • DWK Life Sciences
  • Stevanato Group
  • Sharps Technology, Inc.
  • Becton, Dickinson and Company
  • Schott Pharma AG and Co. KGaA
  • Becton, Dickinson and Company
  • SGD Pharma
  • Schott Pharma AG and Co. KGaA
  • West Pharmaceuticals
  • Nipro Europe Group Companies
  • Stevanato Group

 

 

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