Increasing Demand from Research Laboratories and Clinical Settings Driving Sterile Vials Market: Fact.MR
Rapid expansion of the global healthcare and biopharmaceutical industries boosts the growth of sterile vials market
Fact.MR – A Market Research and Competitive Intelligence Provider: The global sterile vials market is exhibiting a steady growth due to increasing demand for sterile vials from key end-user such as biopharmaceutical companies, clinical and compounding labs. Due to ongoing spur in the pharmaceutical industry, the demand for sterile vials will boost the market, as per a study by Fact.MR.
According to UNAIDS, around 37.9 million people were living with HIV across the globe, wherein, 1.7 million people were newly infected in the year 2018. The growing incidences of such infectious diseases will increase the demand for sterile vials for sample storage, thus, surging the market growth.
As per a report by the Centers for Medicare & Medicaid Services (CMS), with more than 260,000 laboratories, the U.S. clinical laboratory sector is expected to expand significantly over the coming years. This will present lucrative growth opportunities for the expansion of sterile vial market, globally.
In addition, the surge in the number of clinical trials for performing various medical and diagnostic for the development of coronavirus vaccine has further escalated the demand for sterile vials. Besides this, increasing government policies to encourage the development of advanced pharmaceutical packaging to distribute the COVID-19 vaccines will boost the market growth.
“Key players in the market are focusing on launching new products and gaining regulatory approvals. Acquisition and strategic collaboration have emerged as other key strategies adopted among market players to strengthen their footprint in the global market,” says the Fact.MR analyst.
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- The U.S. sterile vials market is dominating the market owing to rising demand for sterile vials from clinical & compounding labs.
- In Europe, Germany is leading the sterile vials market driven by advanced clinical laboratories and the biopharmaceutical sector.
- With cutting-edge technologies and surge in demand from biopharmaceutical and clinical sectors, China is expected become most lucrative market for the sterile vials.
- Due to the growing number of clinical laboratories and biopharmaceutical & biotechnological research institutes, India has emerged as a key contributor to the growth of the market.
- Increasing demand for sterile vials for COVID-19 drug is expected to present growth opportunities for sterile vial market sales.
- Increasing governmental investments in the biopharmaceutical sector will boost the growth of sterile vials market.
- Rising demand for pharmaceutical products across the world will fuel the demand of the sterile vial.
- High clinical and laboratory expenses during the production cycle restrain the growth of the sterile vials market.
- Additional transportation, storage, and maintenance costs negatively affected the demand for sterile vials.
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Prominent players in the market include Adelphi Healthcare Packaging, APG Europe, Bormioli Pharma S.p.a., Corning Incorporated, Dalton Pharma Services, DWK Life Sciences GmbH, Gerresheimer AG, Nipro Corporation, O.Berk Company, Pacific Vial, Piramal Glass, Schott AG, SDG Pharma, Shandong Pharmaceutical Glass Co. Ltd., SiO2 Materials Science, Stevanato Group, Thermo Fisher Scientific, Inc., and West Pharmaceutical Services, Inc. Some of them are focusing in launching new product and product developments to expand their product portfolio. Beside this, they are acquiring other companies to strengthen and expand their presence. For instance,
- West Pharmaceutical Services, Inc. announced FDA 510(k) clearance and the launch of New Vial2Bag Advanced 20mm Admixture Device in 2020.
- Dalton Pharma Services launched its new extensive range of Dalton Clinical Sterile Vials.
- In May 2020, Pfizer, Inc. and Corning Incorporated announced the execution of a long-term supply and purchase agreement for Corning Valor Glass.
More Insights on the Sterile Vials Market
Fact.MR offers unbiased analysis of the sterile vials market. In order to understand the global market potential, its growth, and scope, the market is segmented on the product (sterile empty vials, sterile liquid filled vials, and individual sterilized components), material (glass sterile vials and plastic sterile vials), end users (clinical labs, compounding labs, biopharmaceutical companies, CMOs and others), and across seven regions (North America, Latin America, Europe, South Asia, East Asia, Oceania and Middle East & Africa).
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