A number of factors, such as the growing pharmaceutical industry, improving healthcare expenditure and infrastructure, rising usage of injectable drugs, increasing production capacity of vial producers, and surging need of pharmaceutical organizations to improve their operational efficiency, are projected to boost the RTF/RTU vials market at a CAGR of 14.5% in the forecast period (2021–2030). According to P&S Intelligence, the market generated $306.5 million revenue in 2020, and it is expected to reach $1,183.4 million by 2030. Moreover, market players have been involved in increasing their production and product launches to improve their position.
The primary factor driving the demand for RTF/RTU vials across the world is the rising usage of injectable drugs due to the surging cases of diabetes and cancer. The injectable drugs are used for oncological disorders, orphan diseases, autoimmune diseases, hormonal disorders, and various other purposes. These are beneficial for patients who are unable to take drugs orally, nasally, or via other ways that need motor functions, and are asleep or comatose. Thus, the increasing need for injectable drugs is driving the demand for RTF/RTU vials, as these are mainly used for injectable drugs.
Download report sample at: https://www.psmarketresearch.com/market-analysis/rtf-rtu-vials-market-trends/report-sample
The packaging type segment of the RTF/RTU vials industry is categorized into nest & tub and tray. Between the two, the nest & tub category accounted for the larger market share in 2020, and it is also projected to witness a significant growth in the coming years. This is ascribed to the high adoption of nest & tub packaging type among medical companies, as it was developed earlier than its tray counterpart. Furthermore, due to its nest like arrangement, it avoids breakage and scratches, and thus results in reducing the rejection rate.
Geographically, the European RTF/RTU vials market accounted for the largest share in 2020, and it is also projected to lead the global market in coming years as well. This can be ascribed to the growing pharmaceutical industry, improving healthcare infrastructure, surging awareness on newly developed drugs, rising per capita income, growing aging population, and presence of a large number of RTF/RTU vial manufacturers, including Gerresheimer AG, Schott AG, SGD S.A. and Stevanato Group, whose production capacity is increasing rapidly. Furthermore, the need for RTF/RTU vials is rising for the packaging of COVID-19 vaccines, in the region.
Browse full report at: https://www.psmarketresearch.com/market-analysis/rtf-rtu-vials-market-trends
Some of the major players operating in the global RTF/RTU vials market include SCHOTT AG, Gerresheimer AG, SGD S.A., Stevanato Group, Nipro Corporation, China Lemon Trading Co. Ltd., Ningbo Zhengli Pharmaceutical Packaging Co. Ltd., and DWK Life Sciences GmbH.
Market Size Breakdown by Segment
Based on Packaging Type
- Nest and Tub
Based on Color
Based on Placing Method
- Side-Up Inside
Based on Filling Product
- North America
- Saudi Arabia
- South Africa
Browse Other Related Reports
Geographically, Europe accounted for the largest share in the vials market in 2020, due to the soaring aging population, rising awareness regarding novel drugs, and burgeoning per capita income of the people in the region.
Medical Cartridges Market
The global medical cartridges market revenue will surge from $920.8 million in 2020 to $1,691.1 million by 2030. Furthermore, the market is expected to progress at a CAGR of 6.4% during the forecast period.
Company Name: P&S Intelligence
Contact Person: Abhishek
Email: Send Email
Address:Noida Sector 2