Transparency Market Research delivers key insights on the vials market in its published report. In terms of revenue, the global vials market is estimated to expand at a CAGR of ~5% during the forecast period of 2019–2027, owing to numerous factors, about which, TMR offers through insights and forecasts in the vials market report.
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High Adoption of Glass Vials over Alternative Containers
It has become necessary for drug and pharmaceutical manufacturers to maintain the required quality of medicines while storing and supplying them. When drugs and medicines come in contact with drug storage containers such as aluminum and other vessels, some amount of flavours are imparted into the drugs. This results in the quality degradation of drugs. However, glass vials are non-reactive in nature with the drugs that are stored in them. Furthermore, features such as longer shelf life and contamination-free storage increase the popularity of glass vials.
The growing inclination of various end users such as hospitals and drug manufacturers towards vials is boosting the demand for vials among consumers. Moreover, glass vials are easily recyclable, and thus, are considered as an eco-friendly material, which eventually surges their popularity. This shifting focus of end users from conventional containers to vials is boosting the demand for vials in the market.
Capital Investment by Leading Manufacturers in Pharmaceutical Packaging Sector
The rapidly growing healthcare industry across the globe is directly fuelling the demand for vials across the region. Increasing demand for pharmaceutical products across the world is creating massive opportunities for pharmaceutical packaging manufacturers to generate a significant amount of revenue during the forecast period. Leading manufacturers are investing in the pharmaceutical packaging sector to strengthen their market position.
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- For instance, SCHOTT AG, one of the leading vial manufacturers, recently invested US$ 333 Mn in pharmaceutical packaging for the expansion of its core business of glass tubing.
Vials Market: Competition Landscape
Some of the key players in the global vials market that are included in the report are Gerresheimer AG, Schott AG, Berry Global, Inc., Adelphi Healthcare Packaging, Nipro Corporation, West Pharmaceutical Services, Inc., Bormioli Pharma S.p.a, Pacific Vial Manufacturing Inc., APG Pharma Packaging, and Stevanato Group.
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