Sales of the glass micro vials are predicted to bolster with the top 3 countries’ estimation to account for around 25-30% of the market by the end of 2022. The global micro vials market forms around 30% of the global vials market which stood at US$ 7 Billion in 2021. Attributing to the rising adoption of micro vials across several industries including healthcare, cosmetics & personal care, and chemicals is a key factor driving the demand for micro vials in the market. On the basis of material, the glass segment is predicted to remain a dominant segment in the global market, possessing a prominent share of around 76% by the end of 2032. By end use, the healthcare segment is projected to register a CAGR of 6.0% during 2022-2032.
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Key Takeaways
- Over recent years, there has been a significant rise in the number of vaccination drives all over the world aimed at reducing the burden of numerous diseases. Several governments and regulatory bodies are predicted to launch new initiatives in order to provide people access to vaccines.
- The majority of these vaccines need high-end safety packaging solutions such as micro vials. Micro vials are known as the best packaging solution which is best suited for vaccines and consist of essential features to protect vaccines from outer reactions. Such packaging solutions aid vaccines in protecting them from getting destroyed and extending their shelf life. Therefore, the micro vials market is getting lucrative opportunities amid the vaccination drive across the globe.
- Dominant manufacturers in industries like cosmetics, pharmaceuticals, and other products are diverting their focus on creating child-resistant packaging. In order to prevent the accidental death of children, which can occasionally result from acute poisoning after the consumption of unsupervised pharmaceutical or cosmetic items, the focus has been placed on child-resistant packaging.
- By creating child-resistant packaging, businesses are able to expand into various other sectors including the pharmaceutical and cosmetics industries. There are micro vials available with child-resistant seals, which offers some potential for the market’s growth.
- Furthermore, key players in the market can create effective strategies to make the packaging child-resistant by opting for single-dose packaging. Child-resistant packaging is considered a vital safety element that must be taken into consideration because it helps prevent children from ingesting unexpected and harmful pharmaceutical items. Hence, the introduction of child-resistant packaging by micro vial producers offers a wide range of growth prospects for micro vials among end-use sectors.
- The increasing usage of glass for the production of micro vials can be attributed to its chemical properties which are known to offer protection to various chemicals or adhesives from external effects. Micro vails are known to be simple, cost-efficient and lightweight packaging solutions utilized for storing and transporting drugs, chemicals, cosmetics, and several other sensitive products. These containers let the manufacturers protect sensitive and volatile products from various external factors including temperature and microbes. Besides this, they are easy to transport and take up much less space than conventional vials.
- The popularity of these vials has risen across the healthcare industry where they are extensively utilized for storing and protecting products such as vaccines that require the highest sensitivity. They are designed to both uphold the highest medical standards and ergonomically protect the integrity of a product.
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Competitive Landscape
Prominent micro vials manufacturers are using several organic and inorganic strategies like new product launches, mergers, acquisitions, collaborations, facility expansions, and strengthening distribution channels.
More Insights into the Micro Vials Market
China is estimated to dominate the global micro vials market by accounting for around 64% value share of the East Asia micro vials market by the end of 2022. This is due to the rapid expansion of the chemical industry and the easy availability of raw materials at much lower costs.
Micro Vials Market by Category
By Material:
- Glass
- Plastic
By Capacity:
- Less than 1ml
- 1 ml -3 ml
- 3.1 ml – 5ml
- Above 5ml
By End Use:
- Healthcare
- Cosmetics & Personal Care
- Chemicals
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- Oceania
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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