The market for pharmaceutical vials is anticipated to be worth US$ 12137.2 million in 2023 and US$ 15652.4 million in 2033. The United Kingdom, the United States, China, and India are expected to emerge as major producers as the market for pharmaceutical vials expands at a constant 2.6% CAGR.
The constantly growing pharmaceutical business is driving up demand for pharmaceutical vials on a global scale. The demand for pharmaceutical vials is rising, especially in populous countries. Due to increased demand for vials, these countries’ pharmaceutical industries are increasing drug production, which is also expected to hasten market growth.
Glass packaging is largely favoured in the pharmaceutical business due to its ease of heat sterilisation and lack of reaction with the majority of pharmaceuticals and drugs. Medicines can be wrapped in coloured glass to shield them from UV radiation from the sun and other wavelengths. Due to its ability to be recycled and its widespread availability worldwide, glass makes the ideal packaging material for pharmaceutical items.
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Global demand for pharmaceutical vials is expected to rise due to the complexity of medications required to treat expanding diseases, rising demand for parenteral medications like insulin and corticosteroids, and expanding vaccination.
Numerous product developments in the healthcare industry are creating new demand potential for pharmaceutical vials. The primary goal of medical professionals is to ensure that patients receive the correct dosage of medications, which has contributed to the rise in the popularity of pharmaceutical vials. The demand for novel treatments for chronic illnesses in hospitalized patients has benefited producers in the pharmaceutical and biotechnology industries as well. The growth rate of the pharmaceutical vials market is consequently further boosted by favorable opportunities.
The main challenge facing producers of cutting-edge pharmaceutical vial products is the release of chemicals onto the internal surface of glass tubing containers. Another significant factor impeding the market for pharmaceutical vials from expanding is the rising cost of packaging as a whole.
Key Takeaways
- The Indian pharmaceutical vials market is expected to rise at a rate of 5.6% through the forecast period.
- The stringent regulatory requirements for pharmaceutical packaging, such as those set by the FDA, are driving the demand for high-quality vials that are compliant with regulations.
- The plastic segment is holding a market share of 58.9% in 2022.
- The trend toward personalized medicine is driving the demand for customized vials that can accommodate specific dosages and delivery requirements.
Competitive Landscape
The competitive landscape in the pharmaceutical vials market is highly fragmented, with numerous large players operating in the market. The market is dominated by a few key players, such as Gerresheimer, SCHOTT AG, West Pharmaceutical Services, and Berry Global, which account for a significant share of the market. However, there are also many smaller players, including regional and local manufacturers, which compete for market share.
Competition in the market is primarily driven by factors such as price, product quality, innovation, and customer service. In recent years, there has been an increasing focus on product differentiation and innovation as manufacturers seek to develop new products that offer improved safety, functionality, and ease of use.
The market is also characterized by the increasing adoption of sustainable and eco-friendly packaging materials, which is creating new opportunities for manufacturers that can offer these products. In addition, the market is highly regulated, and compliance with regulatory requirements is a key factor in establishing a competitive edge.
Global Pharmaceutical Vials Market: Forecast Analysis
Future Market Insights presents a new research report titled ‘Pharmaceutical Vials Market: Global Industry Analysis (2017-2026) and Opportunity Assessment (2021-2031)’ that includes the analysis of the various segments of this market across the important regions in the world.
As per this research report, the global pharmaceutical vials market is projected to grow at a moderate CAGR during the period of assessment and is poised to reach a market value of nearly US$ 11,604 Mn by 2031, the end year of the assessment of this report.
Global Pharmaceutical Vials Market: Segmentation Insights
The global pharmaceutical vials market is classified on the basis of product type, material type, capacity size and region.
By product type, self-standing pharmaceutical vials was the largest sub-segment in terms of value at US$ 7,050 Mn by the end of the year 2021 and is expected to exhibit a CAGR of 4.3% during the assessment period 2021-2031.
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By material type, plastics was the largest sub-segment in terms of value, and is likely to be valued at nearly US$ 12,000 Mn at the end of the year 2031, with a CAGR of 5.1% during the assessment period.
By capacity size, the 1-10 ml sub-segment is the largest sub-segment in terms of value, at nearly US$ 6,700 Mn by the end of the year 2021 and is likely to exhibit a CAGR of 4.3% during the period of assessment.
By region, North America is expected to lead the global pharmaceutical vials market in terms of revenue, with a valuation of nearly US$ 3,300 Mn at the end of the year 2021. The North America region is projected to exhibit a CAGR of 3.9% during the period of forecast.
Global Pharmaceutical Vials Market: Competitive Landscape
The research report on the global pharmaceutical vials market has an entire section devoted to study the competition landscape of this market in which the key players that are functional in the market are profiled.
This section also has important information about the companies that have been profiled in this report; such as company overview, key financials, geographical reach, SWOT analysis, key strategies, etc. The companies that have been profiled in this research report include West Pharmaceutical Services, Inc., Nipro Europe, O.BERK COMPANY, LLC, Gerreshemier AG, Piramal Glass, Schott AG, Stevanato Group S.p.a, Adelphi Healthcare Packaging, SGD SA and Pacific Vial Manufacturing Inc.
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Key Segments Covered in Pharmaceutical Vials Market Study
By Product Type:
- Self Standing
- Round Bottom
By Material Type:
- Glass
- Plastic
By Capacity Size:
- 0-1ml
- 1-10ml
- 10-50ml
- 50-100ml
By Region:
- North America
- Latin America
- Europe
- Asia Pacific Excluding Japan
- Japan
- Middle East & Africa (MEA)
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