Pharma, a leading international manufacturer of pharmaceutical packaging and medical devices, today announced a significant increase of 47percent in its North American sales for 2023. This notable growth is a direct result of the company’s rapidly evolving infrastructure and expanded capacity, tailored to meet the unique demands of the North American pharmaceutical market, including an increased need for pharmaceutical glass vials.
Bormioli Pharma strengthened its strategic focus on the US market four years ago by establishing a new legal entity and a commercial branch in the US. From then on, the company’s on-site commercial team has been expanded, an FDA-approved warehouse established, and dedicated product offerings compatible with regional standards have been designed. For North American customers, this translates into the availability of a reliable and flexible packaging partner that can streamline their purchasing processes while reducing supply chain complexity, shortening their time-to-market and supporting them in the development of high-value projects with local, qualified support.
The pharmaceutical glass vials market is projected to grow from $12.1 billion in 2023 to $24.1 billion by 2033, expanding at a 7.10percent CAGR, driven by rising pharmaceutical product demands.1 The US market is one of the major growth contributors (with an expected CAGR of 8.0percent in North America for 2023-20282) and there is a high demand for suppliers capable of providing turn-key packaging solutions that meet regional standards, such as the use of glass Type I expansion 33. Bormioli Pharma recently signed a key contract with a US-based global leader in allergen immunotherapy for the supply of ready-to-use, vertically integrated packaging kits for two of its major manufacturing sites in the US. The full packaging kits include aluminum seals, rubber stoppers, Type I molded glass vials, and Type I tubular glass expansion 33 vials.
“As we grow our presence in North America and expand our capabilities to meet regional standards, we are committed to the partnerships that enable us to broaden our reach,” said Johann Depperschmidt, Bormioli Pharma’s Head of Sales, Americas. “To best serve our North American customers, we’ve adapted our manufacturing processes to produce Type I Glass expansion 33 vials in our European facilities, ensuring robust production and backup.
We have an on-site, dedicated US sales team and a local warehouse, and we look forward to expanding these resources further in 2024. Additionally, we are collaborating with a US-based sterilization company to prepare ready-to-use packaging kits – a partnership we believe is a significant step forward in ensuring that quality healthcare becomes a more accessible reality for people everywhere.”
Bormioli Pharma’s Chief Executive Officer, Andrea Lodetti noted, “Our momentous growth in the North American market embodies our dedication to meeting and exceeding the evolving needs of this dynamic market. We are not just expanding our footprint but also enhancing our efficiency and adaptability. This growth aligns perfectly with our mission to provide innovative and sustainable pharmaceutical packaging solutions, and we are proud to say that our growth is not only robust but also responsible.”
Bormioli Pharma has committed to several initiatives that place the company at the forefront of sustainable pharma packaging. The company has embarked on a strong ESG path and is working to publish its third ESG Report later this year. Bormioli Pharma made notable progress in its “50-in-5” program that aims to achieve 50percent of sustainable raw materials in its pharmaceutical packaging sold products by 2025. In 2023, the company successfully increased its use of sustainable raw materials to 45percent, up from 39percent in the previous year. Additionally, it conducted comprehensive analyses on its sustainable pharma packaging, reaffirming the uncompromised safety and reliability of its products. Furthermore, Bormioli Pharma recently partnered with leading Canadian clean technology company, Loop Industries, to use 100percent recycled virgin-quality Loop™ PET resin for developing a novel pharmaceutical packaging bottle.
To learn more about Bormioli Pharma’s comprehensive packaging solutions and sustainability initiatives, please see Bormioli executives at DCAT Week 2024 in New York City (March 18th-21st) or contact dcat@bormiolipharma.com.
References:
1. Sutaria, I. Pharmaceutical Vials Market Outlook, Future Market Insights. [Accessed Jan 2024]
2. IQVIA, IQVIA Forecast Link 2024 [Accessed Jan 2024]
