The U.S. plastic vials and ampoules market is experiencing steady growth, driven by factors such as increasing demand for pharmaceutical and healthcare products, rising consumer awareness regarding hygiene and safety, and advancements in packaging technology. Plastic vials and ampoules are preferred over traditional glass packaging due to their lightweight nature, resistance to breakage, and cost-effectiveness.
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Global Plastic Vials and Ampoules Market
The plastic vials and ampoules market is predicted to be worth US$ 3.26 billion in 2023, and rise to US$ 5.86 billion by 2033. Initially, the global market was expanding at a CAGR of 5.2% between 2016 and 2022.
The adoption of plastic vials and ampoules is growing in the pharmaceutical and biotechnology industries. This market is anticipated to increase as a result of the rising incidence of chronic diseases and the rising demand for secure and effective medication delivery systems.
Correspondingly, there is a growing demand for vaccines as infectious diseases become more prevalent. Plastic vials and ampoules have become more popular as a result of their appropriateness for storing vaccinations.
Due to the healthcare industry’s rapid innovations and growing attention to drug delivery methods, the market is expected to grow. Additionally, the industry is expected to have high profit margins due to the development of cutting-edge technologies like blow-fill-seal technology.
Key Takeaways
- In 2022, the United States ruled the plastics vials and ampoules market, with a share of 20.2%.
- The plastics vials and ampoules market increased at a 5.2% CAGR between 2016 and 2022, citing FMI’s study.
- The plastics vials and ampoules market was expanding, with a value of US$ 3.10 billion in 2022.
- The expansion in China is anticipated to expand at an adequate CAGR of 8% by 2033.
- In 2022, Japan was expanding significantly in the plastics vials and ampoules market, with a share of 5.1%
- By 2033, the plastics vials and ampoules sector is likely to increase in India with a size of US$ 571.6 million.
- The expansion in the United Kingdom is anticipated to expand at an adequate CAGR of 6.3% by 2033.
- Based on material type, the COC/COP segment led the market share of 44.5% in 2022.
- Based on product type, the vials segment led the market share of 62.4% in 2022, and continues to dominate the sector during the forecast period.
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Key Strategies in the Industry
The plastic vials and ampoules sector has seen increasing technological improvements, opening up new market growth prospects. High-quality products are being produced using more modern production processes.
New products and technologies have been introduced to the market as a result of the expansion of research and development operations in the area of plastic vials and ampoules.
Startups are having success in this sector by providing cutting-edge goods and services like automated filling and sealing equipment, specialty materials for particular purposes, and unique packaging designs. Start-ups also benefit from the ability to quickly react to shifting market trends and client demands.
Recent Developments
- A new production facility for the production of plastic containers was developed by Gerresheimer in India in January 2021. The Kosamba facility, which is close to Mumbai, is where Gerresheimer is concentrating its production of pharmaceutical primary packaging made of molded glass, tubular glass, and plastic.
- For the packaging of COVID-19 vaccinations, SiO2 Materials Science created a pharmaceutical vial made of plastic that is coated with an imperceptible pure glass covering in June 2020.
- A glass-like plastic material that enables scientists to create intricate structures like vaccination bottles, sinuous channels for doing lab chemistry, and other objects was invented by Glassomer GmbH in April 2021 following lengthy research and development efforts.
About Future Market Insights Inc. (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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