Latin America Pharmaceutical Glass Packaging Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 2.17 Billion |
| Market Size (2029) | USD 2.82 Billion |
| CAGR (2024 - 2029) | 5.45 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Latin America Pharmaceutical Glass Packaging Market Analysis
The Latin America Pharmaceutical Glass Packaging Market size is estimated at USD 2.17 billion in 2024, and is expected to reach USD 2.82 billion by 2029, growing at a CAGR of 5.45% during the forecast period (2024-2029).
Glass is a standard material for manufacturing vials and ampoules. Its inert nature allows the storage of highly corrosive and chemically unstable compounds. These items are used to store a variety of pharmaceuticals, chemicals, and other chemically unstable substances and prevent medication contamination. Such factors are expected to fuel the demand for glass packaging in the pharmaceutical sector.
- With the advent of new diseases, including the coronavirus pandemic, R&D and manufacturing of new drugs play an essential role in maintaining and improving fundamental public health conditions (a development priority). Owing to this, the market for pharmaceutical products has always been and is likely to remain, one of the critical markets in the region.
- The market is experiencing growth owing to increasing pharmaceutical exports. According to Ministério da Economia (Brazil) and UN Comtrade, Brazil's report released in May 2023, pharmaceutical exports were valued at around USD 1.43 billion, up from about USD 1.1 billion worth reported in 2022.
- Additionally, increased government spending on healthcare in the region is expected to drive market growth. According to Controladoria-Geral da União (Brazil) (Portal da Transparência), in 2023, the total government health expenditure in Brazil reached approximately BRL 161.22 billion (USD 32.28 billion), with São Paulo leading the way with government health expenditure of approximately BRL 18.38 billion (USD 3.68 billion).
- The pharmaceutical industry in Latin America significantly impacts local communities, society, and the regional economy. This impact is twofold: directly, through employment opportunities and added value, and indirectly, by stimulating demand in ancillary industries. Understanding the organization and regulations of the pharmaceutical sector in Latin America is crucial for measuring the availability and affordability of pharmaceutical products.
- The Latin American Association of Pharmaceutical Industries (ALIFAR) is the unifying body for domestically owned pharmaceutical companies across Latin America. With a membership exceeding 400 companies from 12 nations, ALIFAR commands a significant presence, representing over 90% of the regional pharmaceutical market.
- Traditionally, the preferred materials across pharmaceutical packaging have been aluminum and glass. Over time, these materials became expensive due to raw material prices and other factors and could not provide economically viable solutions for packaging products across mass consumption. That marked the advent of plastics as an option in the industry.
Latin America Pharmaceutical Glass Packaging Market Trends
Brazil is Anticipated to have a Significant Share During The Forecast Period
- Brazil is prominent in Latin America's market share, particularly in the pharmaceutical sector. With a mature market, the country has been a hub for product innovations, notably in glass packaging, driven by its numerous leading vendors.
- Additionally, regulatory authorities have publicly expressed their desire to increase domestic production and speed up the regulatory process for biosimilar drugs. By doing so, they hope to reduce its reliance on high-priced imported biological agents and establish itself as a primary regional provider of cost-effective therapies.
- For instance, in October 2023, the Federal Health Surveillance Agency of Brazil, ANVISA, initiated a public consultation period to facilitate granting marketing authorizations for biologic and biosimilar drugs. This follows two conferences attended by stakeholders, during which ANVISA discussed the advantages and disadvantages of eliminating the requirement of clinical and non-clinical studies when evaluating marketing applications for biosimilars and their interchangeability and international references.
- The country's government is also focused on spending on the healthcare industry. For instance, according to Controladoria-Geral da União (Brazil) (Portal da Transparência), Hospital and outpatient care took the top position in healthcare spending by the government in Brazil, with BRL 74.97 billion (USD 15 billion) in 2023, followed by primary healthcare, which was BRL 39.06 billion (USD 7.82 billion).
- Further, according to Tannr Pharma Group, the industry is also subject to stringent price controls, sometimes limiting manufacturers' profitability. Essentially, the regulators will look at the prices being charged in a basket of countries worldwide to determine the price that can be approved. However, Brazil is bounding towards the first substantive reform of its drug pricing framework in several years, as new modifications are under review with the Drug Market Regulation Chamber (CMED). Changes in regulations in the country might create opportunities for glass packaging.
Growing Demand for Syringes Is Expected to Drive Growth
- The glass packaging in pharmaceuticals mainly consists of prefilled syringes, and others. Prefilled syringes have gained traction in the market, owing to the growing popularity of self-care devices and the rise of chronic diseases.
- Glass manufacturers are poised to grow the syringes market in the coming years rapidly. The inert nature of glass ensures that the surface remains unreactive with the contained drug. Moreover, glass is a barrier, preventing volatiles from seeping in and altering the drug's composition.
- Additionally, prefilled syringes are a type of single-dose syringe that can be used to administer a single dose of a vaccine. A prefilled syringe can be used to treat diabetes or other diseases. Prefilled syringes are one of the pharmaceutical industry's fastest-growing single-dose drug delivery technologies.
- Such market traction of prefilled syringes has attracted companies to expand their business in the industry. As the demand for pre-filled syringes and high-tech drug delivery systems grows, Becton Dickinson (BD) invested USD 56 million. With this financing, the medical technology company will install a new production line for these products and construct a cap assembly plant for injection devices. The syringes created at the plant in the Cuamatla Industrial Park, CuautitlánIzcalli, State of Mexico, will be for a new pneumococcal vaccine recently approved by the Food And Drugs Administration (FDA).
- According to US Department of Commerce, the pharmaceutical sales in Mexico in 2022 was USD 10.12 billion and it has reached USD 10.83 billion in 2023. Syringes have emerged as the preferred choice for parenteral drug administration. The rising demand is primarily attributed to the increasing reliance on parenteral drugs, particularly biologics, for treating chronic ailments like rheumatoid arthritis and cancer. In light of this trend, pharmaceutical companies are increasingly opting to package a wide range of injectable medicines and vaccines in prefilled syringes.
Latin America Pharmaceutical Glass Packaging Industry Overview
The Latin America pharmaceutical glass packaging market is highly consolidated, with the presence of limited firms contributing significant shares in the market. The players in the market are investing in product innovations through collaborations with global firms to maintain their prominence in the market. Some key market players include Gerresheimer Querétaro S.A., Vitro Glass Containers, SCHOTT AG, West Pharmaceutical Services, Inc., and SGD Pharma.
- November 2023 - Gerresheimer, a global partner for the pharma, biotech, and cosmetic industries, has marked the commencement of its plant expansion in Querétaro, Mexico, with a ground-breaking ceremony. The new 7,500 m² production facility will bolster Gerresheimer's manufacturing capacity for "ready-to-fill" (RTF) syringes, catering to the North American market, by several hundred million units annually. The high-quality pre-fillable glass syringes produced here will be apt for injectable biopharmaceuticals, including GLP-1-based drugs used in obesity treatment.
Latin America Pharmaceutical Glass Packaging Market Leaders
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Gerresheimer Querétaro S.A.
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Vitro Glass Containers
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SCHOTT AG
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West Pharmaceutical Services, Inc.
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SGD Pharma
*Disclaimer: Major Players sorted in no particular order
Latin America Pharmaceutical Glass Packaging Market News
- October 2023: Health, Science, and Technology (HST) authorities in Argentina have signed a new Agreement with the Director of PAHO, Dr. Jarlbas Barbosa, to strengthen and expand their capacity to develop and produce mRNA vaccines suitable for regional applications. This agreement will facilitate the development and expansion of the mRNA vaccine manufacturing ecosystem, thus increasing the sustainability of Argentina's PAHO /WHO technology transfer program. Furthermore, the country's future development of mRNA vaccines will reduce the region's dependency on external sources of this technology.
- July 2023: Nerveaxpharm, a top European specialty pharma company specializing in treating central nervous system disorders, has just announced its expansion into two of Latin America's most significant pharmaceutical markets - Brazil and Mexico. It's the first step in expanding its reach beyond Europe. The company acquired Libber Pharma, which can help them spread their products nationwide. They've also developed Sanofi's product portfolio in Brazil, including a neuroleptic and three antipsychotics, and will be part of their product expansion.
Latin America Pharmaceutical Glass Packaging Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Buyers
4.2.2 Bargaining Power of Suppliers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain Analysis
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increasing Pharmaceutical Export
5.1.2 Increase Government Spending In The Region
5.2 Market Restraints
5.2.1 Dependency on Import Of Pharmaceuticals
6. MARKET SEGMENTATION
6.1 By End-User Industry
6.1.1 Bottles
6.1.2 Vials
6.1.3 Ampoules
6.1.4 Cartridges
6.1.5 Syringes (Pre-filled)
6.2 By Country***
6.2.1 Mexico
6.2.2 Brazil
6.2.3 Argentina
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Gerresheimer AG
7.1.2 Vitro Glass Containers
7.1.3 SCHOTT AG
7.1.4 West Pharmaceutical Services, Inc.
7.1.5 SGD Pharma
7.1.6 Aptar Group, Inc.
7.1.7 Becton Dickinson & Company
7.1.8 Corning Incorporated
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
Latin America Pharmaceutical Glass Packaging Industry Segmentation
Latin America Pharmaceutical Glass packaging includes products designed to come into contact with pharmaceutical products. The study considers revenues accrued from the sales of different glass packaging products by various market vendors. The study also tracks the key market parameters, underlying growth influencers, and major vendors operating in the industry, which supports the market estimations and growth rates over the forecast period.
Latin America Pharmaceutical Glass Packaging Market is segmented By Product (Bottles, Vials, Ampoules, Cartridges, and Pre-filled Syringes) and By Country (Mexico, Brazil, Argentina, and the Rest of Latin America). The market sizes and forecasts are provided in value (USD) for all the above segments.
| By End-User Industry | |
| Bottles | |
| Vials | |
| Ampoules | |
| Cartridges | |
| Syringes (Pre-filled) |
| By Country*** | |
| Mexico | |
| Brazil | |
| Argentina |
Latin America Pharmaceutical Glass Packaging Market Research FAQs
How big is the Latin America Pharmaceutical Glass Packaging Market?
The Latin America Pharmaceutical Glass Packaging Market size is expected to reach USD 2.17 billion in 2024 and grow at a CAGR of 5.45% to reach USD 2.82 billion by 2029.
What is the current Latin America Pharmaceutical Glass Packaging Market size?
In 2024, the Latin America Pharmaceutical Glass Packaging Market size is expected to reach USD 2.17 billion.
Who are the key players in Latin America Pharmaceutical Glass Packaging Market?
Gerresheimer Querétaro S.A., Vitro Glass Containers, SCHOTT AG, West Pharmaceutical Services, Inc. and SGD Pharma are the major companies operating in the Latin America Pharmaceutical Glass Packaging Market.
What years does this Latin America Pharmaceutical Glass Packaging Market cover, and what was the market size in 2023?
In 2023, the Latin America Pharmaceutical Glass Packaging Market size was estimated at USD 2.05 billion. The report covers the Latin America Pharmaceutical Glass Packaging Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Latin America Pharmaceutical Glass Packaging Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Latin America Pharmaceutical Glass Packaging Industry Report
Statistics for the 2024 Latin America Pharmaceutical Glass Packaging market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Latin America Pharmaceutical Glass Packaging analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
