Pharmaceutical vials play a crucial role in packaging and delivering medications. Their applications range from storing liquid drugs to freeze-dried formulations for injection. Key features of the pharmaceutical vials market include high chemical resistance, tamper-evident closures, and precise dosing. Advancements in vial technology include improved barrier properties to protect against oxygen and moisture, enhancing shelf life. Additionally, innovations in vial designs ensure ease of handling, efficient filling, and compatibility with automated systems, contributing to safer and more convenient pharmaceutical packaging solutions.
According to Data Bridge Market Research, the Global Pharmaceutical Vials Market accounted for USD 13,571.04 million in 2021 and is expected to reach USD 23,934.78 million by 2029. The market is expected to grow with a CAGR of 7.35% in the forecast period of 2022 to 2029.
“Growing pharmaceutical industry boosts the market’s growth”
The growing pharmaceutical industry has a significant impact on the pharmaceutical vials market growth. As pharmaceutical companies expand their production of drugs and vaccine, there is a corresponding rise in demand for vials for packaging and storage. These vials provide a safe and sterile container to preserve the integrity and efficacy of the medications. The increasing focus on research and development, coupled with the rising global healthcare needs, further fuels the demand for pharmaceutical vials in the market.
What restraints the growth of the global pharmaceutical vials market?
“Increasing cost of overall packaging restraints the market’s growth”
The increasing cost of overall packaging presents a restraint to the pharmaceutical vials market growth. As the costs of raw materials, manufacturing, and transportation rise, pharmaceutical companies face higher expenses for vials. These costs may then be passed on to consumers or impact profit margins. This, in turn, may limit market growth and influence packaging decisions in the pharmaceutical sector.
Segmentation: Global Pharmaceutical Vials Market
The global pharmaceutical vials market is segmented on the basis of material, neck type, cap size, market drug type, capacity, distribution channel, and end-user.
- On the basis of material, the pharmaceutical vials market is segmented into plastic, glass, and others.
- On the basis of neck type, the pharmaceutical vials market is segmented into crimp neck, double chamber, screw neck, flip cap, and others.
- On the basis of cap size, the market is segmented into 13-425 mm, 15-425 mm, 18-400 mm, 22-350 mm, 24-400 mm, 8-425 mm, 9mm, and others.
- On the basis of market drug type, the market is segmented into injectable, non-injectable.
- On the basis of capacity, the market is segmented into 1 ml, 2 ml, 3 ml, 4 ml, 8 ml, 10 ml, 20 ml, 30 ml, 50 ml, and others.
- On the basis of distribution channel, the market is segmented into direct sales, medical stores/pharmacies, e-commerce and others.
- On the basis of application, the market is segmented into nasal, oral, and others.
- On the basis of end users, the market is segmented into pharmaceutical companies, biopharmaceutical companies, contract development and manufacturing companies, compound pharmacy, and others.
Regional Insights: North America dominates the Global Pharmaceutical Vials Market
North America dominates the pharmaceutical vials market in terms of market share during the forecast period with the U.S. at the forefront. The strong position is driven by increasing demand for pharmaceutical vials due to rising awareness and business expansion in the industry. Consumers' growing need for safe and reliable packaging contributes to the market's growth in this region.
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Recent Developments
- In February 2022, Bormioli Pharma has announced a series of partnerships aimed at enhancing the sustainability and performance of pharmaceutical glass. These collaborations focus on improving the bottles' resistance to chemical substances and reducing the carbon footprint associated with glass production. The initiative seeks to make pharmaceutical glass more eco-friendly and efficient while maintaining high-quality standards for the pharmaceutical sector.
- In June 2021, Zydus Cadila Healthcare has been granted tentative approval by the U.S. Food and Drug Administration (FDA) to market "pemetrexed" in various strengths, including 500 mg/vial, 100 mg/vial, and 1000 mg/vial, along with single-dose vials for injection. This approval allows the company to move forward with the sale of the drug in the specified dosage forms, subject to meeting certain conditions and requirements.
The Prominent Key Players Operating in the Global Pharmaceutical Vials Market Include:
- Schott AG (Germany)
- Nipro (Japan)
- Piramal Glass (India)
- Sisecam (Turkey)
- Owens-Illinois Inc. (U.S.)
- Gerresheimer AG (Germany)
- Bormioli Pharma S.p.A (Italy)
- Ardagh Group S.A. (Luxembourg)
- West Pharmaceutical Services Inc. (U.S.)
- STOELZLE GLASS GROUP (Austria)
- SGD Pharma (France)
- Shandong Qidu Pharmaceutical Co.,Ltd. (China)
- Corning Incorporated (U.S.)
- DWK Life Sciences (U.S.)
- Berry Global Inc (U.S.)
- Airnov (U.S.)
- Pacific Vial (U.S.)
- Stevanato Group (Italy)
- Adelphi Healthcare Packaging (U.K.)
Above are the key players covered in the report, to know about more and exhaustive list of global pharmaceutical vials market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Pharmaceutical Vials Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
