Plastic Vials Market is Projected to Reach at a US$ 1.9 Billion by 2032 | FMI

Plastic Vials Market
Plastic Vials Market

The global plastic vials market will expand at a compound annual growth rate (CAGR) of 4.9% from 2022 to 2032. By 2032, sales of plastic vials are expected to reach US$ 1.9 billion , up from US$ 1.2 billion in 2022. It is projected that the top five firms in the global plastic vials market would account for 15% to 20% of the total plastic vial market by 2022.

Plastic vials are small plastic containers used to store the content or to collect the samples. The plastic vials help in protecting the content from the external environment as well as keeping the content at the required temperature.

The plastic vials offer better thermal insulation compared to other vials made from other materials. Also, the plastic material is a strong material it reduces the fear of vials getting broken down. This helps in reducing the need for replacing the lost sample.

The plastic vials are made available in different capacities such as up to 2 ml, 3-5 ml, 5-7 ml, and 8 ml & above. These vials are used in various end use industries such as pharmaceuticals & healthcare, cosmetic & personal care, and others.

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The demand in the plastic vials market is expected to burgeon due to the increasing need for vials in the pharmaceutical industry. Rise in the spread of the different virus across the world will propel the demand for plastic vials in the pharmaceutical & healthcare industry.

Moreover, the plastic vials can be easily cleaned and sterilized which gains popularity among the end use industries. The plastic vials are light in weight and easy to handle which helps in reducing the transportation & extra storage cost. The expanding personal care & cosmetic industry helps in bolstering the demand for plastic vials.

Future Market Insights (FMI) opines, key players operating in the plastic vials market will witness remunerative growth opportunities due to the innovation & customization offered by manufacturers of plastic vials.

Key Takeaways from Plastic Vials Market

  1. By material, high-density polyethylene (HDPE) plastic vials segment is estimated to expand at a CAGR of 5.1% during 2022-2032
  2. The pharmaceuticals & healthcare segment is projected to hold significant share in the plastic vials market due to high demand for plastic vials in hospitals & laboratories.
  3. Based on end-use, pharmaceuticals & healthcare industry is anticipated to hold around 81% of the market share by the end of 2032.
  4. North America and Europe are estimated to remain the most lucrative market for the plastic vials market due to the presence of various pharmaceutical & healthcare companies

“ Rising need to maintain and keep the content at the right and required temperature among pharmaceutical, personal care & cosmetic, and chemical industries will augment the sales of plastic vials.” –says  FMI Analyst

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 Expansion of Pharmaceuticals & Healthcare Sector to Bolster Plastic Vials Sales

The development of various drugs and medications among various global pharmaceuticals & healthcare companies supplement the sales of plastic vials. Expansion of pharmaceutical & healthcare sector is driving the demand for plastic vials across the globe.

Increasing patient pool in hospitals due to different illnesses and health problems is also expected to bolster the demand for plastic vials. Subsequently, growing production of pharmaceutical drugs and products will push the sales of plastic vials.

Plastic Vials Market by Category

By Materials:

  • Polypropylene (PP)
  • High-density Polyethylene (HDPE)
  • Polyethylene Terephthalate (PET)
  • Other (Polystyrene)

By Capacity:

  • Up to 2 ML
  • 3-5 ML
  • 6-7 ML
  • 8 ML & Above

By End Use:

  • Pharmaceuticals & Healthcare
  • Cosmetics & Personal care
  • Chemicals

By Region:

  • North America
  • Latin America
  • Europe
  • Middle east and Africa
  • East Asia
  • South Asia
  • Oceania

Plastic Vials Market Landscape

Gerresheimer AG, Berry Global Inc., Wheaton (DWK Life Science Inc.), Thornton Plastics, Schott AG, and Sigma-Aldrich Co. LLC are some of the key players operating in the plastic vials market. Also, some of the noticeable players in the plastic vials market include Suncity Plastic Vial Factory, Althor Products, LLC, Containers Plus, Genius Style (India) Pvt. Ltd., and others. The players in tier 1 hold around 10-15% of the global plastic vials market.

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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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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