Wilmington, Delaware, United States, Sept. 27, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The vials market is expected to reach US$ 10.8 billion by 2029. The market is predicted to hold a growth rate of 5.4% through 2029. The use of vials in laboratory settings is widespread for the storage of pharmaceuticals, chemicals, and biological samples. Vaccines are also stored and distributed using them in the healthcare industry. For instance, Pfizer-BioNTech and Moderna supply COVID-19 vaccines in vials in order to ensure they are stored and administered correctly.
Vials use has become indispensable in many fields due to their important role in maintaining the quality and effectiveness of sensitive substances. There are several types of vials available, including screw threaded, snap cap, crimp top, and pre-scored varieties, each designed to meet specific needs.
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The versatility of these containers extends to various industries, including cosmetics, food, and beverage preservation, as well as art preservation, as they are well suited to storing pigments and dyes. Vial packaging plays a crucial role in research, healthcare, and production processes across numerous industries. They ensure the potency and quality of a wide range of substances by ensuring safe, efficient storage and transportation.
Key Findings of the Market Report
- 10 ml capacity vials are expected to register a CAGR of 4.7% until 2029.
- The healthcare segment is expected to hold 89.3% of the global market by 2029.
- The Asia Pacific region is forecast to register a 6.9% CAGR during the forecast period.
- A market share of 43.3% is predicted for amber vials by 2029.
- By 2029, the 11-50 ml capacity segment will gain 44.1% of the market.
Global Vials Market: Growth Drivers
- As diagnostic laboratories grow, vials are used to store and transport various specimens such as blood samples, urine samples, and tissue samples. Advances in medical testing and diagnostics influence the demand for vials in this sector.
- Vials manufacturers are using technological advances, such as robotics and automation, that are improving efficiency and reducing costs for manufacturers. Customized vials that accommodate specific dosages and delivery requirements are in high demand due to the growing interest in personalized medicine.
- For the packaging of medications, vaccines, and biological samples, vials are widely used in pharmaceuticals and biotech. As the population grows, modern drugs have been developed, and new biologics are being developed, there will be an increase in the demand for vials sales in the market.
Global Vials Market: Regional Landscape
- North America is expected to dominate the market for vials online. Several pharmaceutical manufacturers are based in the United States. Additionally, over one-third of the global pharmaceutical market is dominated by the United States.
- As chronic diseases like cancer and diabetes become more prevalent, the demand for injectable drugs is growing. Injectable drugs are delivered and packaged primarily through vials, so the market is expected to expand. With Asia Pacific playing an increasingly important role in their expansion, the vials market is expected to remain lucrative in the years to come.
- Emerging economies, like India, have seen significant developments in pharmaceutical manufacturing that have prompted businesses to expand into the region. A growing number of hospitals and drug manufacturers have increased the revenue potential of those economies over the years.
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Global Vials Market: Key Players
Several manufacturers have been expanding their geographical reach and updating their product portfolio to capture maximum market share, making the global vials market highly competitive, as revealed by TMR's analysis. Companies' strategic moves, segmental revenues, and recent developments are carefully studied to determine where the competition is among these key players.
Among the players profiled in the recent vials market study are:
- Gerresheimer AG
- West Pharmaceutical Services, Inc.
- Berry Global, Inc.
- Amcor Plc
- Corning Incorporated
- Schott AG
- Adelphi Healthcare Packaging
- Stevanato Group
- SGD S.A.
- Nipro Pharma Corporation
- Piramal Glass
- DWK Life Sciences
- Acme Vial and Glass Company LLC
- Phoenix Glass LLC
Key Market Developments
- In June 2023, Corning and SGD Pharma announced a partnership to manufacture glass tubes and create vials with Corning's 'velocity vial' technology. In 2024, SGD Pharma expects to start manufacturing velocity vials in Mahabubnagar district, Telangana. Tubes for pharmaceuticals are expected to be produced in 2025.
- In July 2023, Endo International Plc., introduced a ready-to-use 250 mg/50mL single-use bivalirudin injection vial to its Par Sterile Products business. Currently, bivalirudin is manufactured only in liquid form in the United States. Healthcare providers can focus on patient care by using ready-to-use products like bivalirudin, which simplifies the process for them.
Global Vials Market: Segmentation
By Material Type
- Glass
- Type 1
- Type 2
- Type 3
- Plastic
- Polyethylene (PE)
- Polypropylene (PP)
- Poly Vinyl Chloride (PVC)
- Others (PET, PA, Tec.)
- Cyclic Olefin Polymer (COP)
- Cyclic Olefin Copolymer (COC)
By Vial Type
- Amber Vial
- Clear Vial
By Capacity
- Up to 10 ml
- 11-50 ml
- 51-100 ml
- Above 100 ml
By End User Base
- Healthcare
- Research Laboratories & Clinical Research
- Drug & Manufacturing
- Hospitals
- Personal Care
- Chemicals
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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