The Indian pharmaceutical glass packaging market is anticipated to grow significantly at a CAGR of 7.7% over the forecast period (2020-2026). The pivotal factors that drive the growth of the market include the increased demand for generic drugs in the untapped areas of the country, increased prevalence of several chronic diseases such as diabetes, and the key contributions by the players operating in the country.
The Indian pharmaceutical glass packaging market has been segmented on the basis of product type into bottles, vials, cartridges & syringes, and others. The glass vials segment is estimated to hold a significant share in the market, owing to the increased demand for them during the unprecedented COVID-19 times.
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The total number of confirmed cases of COVID-19 in the country exceeds 5 million, while the number of mortalities in the country exceeded 90,000. Such a severe impact from COVID-19 burdened the biopharmaceutical players to develop a vaccine and contain the spread of the COVID-19 pandemic across the country. This, in turn, will create demand for more packaging products such as glass vials.
The key players such as Piramal Enterprises Ltd. is continuously thriving in the market. The company has also announced to ramp up its glass vials production for the COVID-19 vaccinations. Similarly, Gerresheimer India, Schott Kaisha, Borosil along several players has announced to keep the industry leverages with the COVID-19 vaccination packaging products including glass vials and bottles. Thus, such activities and ramped production of the packaging products are likely to drive the Indian pharmaceutical glass packaging industry over the forecast period.
Market Coverage
Key questions addressed by the report
o Recovery Timeline
o Deviation from the pre-COVID-19 forecast
o Most affected segment
India Pharmaceutical Glass Packaging Market – Segmentation
By Product Type
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