Sterile Vials Market Sales Set to Grow at 8.5% Backed by Surging Demand for Glass Sterile Vials: Fact.MR
Rising demand from clinical and compounding labs for sterile vials will provide growth opportunities to manufacturers over the coming years
Fact.MR, New York: Incorporation of cutting-edge technologies and surging demand for glass sterile vials within biopharmaceutical companies and clinical sectors will improve the demand for sterile vials, evaluates Fact.MR in a study. According to the study, glass sterile vials are the most preferred vials in terms of materials for manufacturing.
Surging demand for varied sterile and empty vials that are extensively used in various sectors such as nitrogen filled vials, air filled vials and evacuated vials is improving the market growth. Also, due to the high demand from the end-use sectors such as clinical labs, biopharmaceutical companies and compounding labs, manufacturers of sterile vials are set to witness high growth in demand in the upcoming decade.
Increasing usage of glass sterile vials in clinical labs for research & development activities, administration of various medications and others will accelerate the growth. Manufacturers and suppliers of sterile vials are expected to witness higher growth due to the rising need of glass sterile vials over the forecast period. Backed by these factors, the global sterile vials market is expected to witness healthy growth exceeding the valuation of US$ 10 Bn by 2031-end.
“Wide ranging applications of sterile vials within biopharmaceutical companies are pushing market players to incorporate advanced technology in the manufacturing of nitrogen-filled and air-filled glass sterile vials,” says the Fact.MR analyst.
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- In terms of end-user, Clinical labs segment is expected to be the most lucrative during the forecast period
- Glass sterile vials is the most preferred material for sterile vials manufacturers
- United States is expected to lead the North American sterile vials market throughout the forecast period
- High demand form advanced clinical laboratories and biopharmaceutical sector is expected to create growth opportunities across Germany
- India is anticipated to be the hotspot for players in sterile vials industry backed by the growing number of clinical laboratories & research institutes
- Incorporation of cutting-edge technologies by manufacturers necessitating the demand from biopharmaceutical companies will propel the demand across China
- Growing demand of glass sterile vials from healthcare industry is propelling the demand for sterile vials
- Increasing development of new sustainable packaging options is expected to create new growth opportunities for sterile vials market players
- High cost laboratory expenses during production cycle is expected to act as a challenge for sterile vials manufacturers
- Limitations due to the regulatory policies by governments & non-profit organizations regarding the usage of plastics is expected to limit the growth of market
Discover more about the sterile vials market with 227 figures, 80 data tables and the table of contents.
Some of the prominent players identified in global sterile vials by Fact.MR includes Adelphi Healthcare Packaging, APG Europe, Bormioli Pharma SPA, Corning Incorporated, Dalton Pharma Services, DWK Life Sciences GmbH, Gerreshheimer AG, Nipro Corporation, O.Berk Company, Pacific Vial, Piramal Glass, Schott AG, SDG Pharma, Shandong Pharmaceutical Glass Co. Ltd., SiO2 Materials Sciences, Stevanato Group, Thermo Fisher Scientific Inc., and West Pharmaceutical Services Inc. among others.
In October 2020, ALK Life Science Solutions, a pharmaceutical packaging based market for glass vials announced the partnership with UPPI LLC, to provide high-quality glass vials to UPPI members providing unit dose radiopharmaceuticals and positron emission tomography manufacturing of radiopharmaceuticals for use in nuclear imaging tests & treatments.
Also, in February 2020, West Pharmaceutical Services launched two line extensions its AcceITRA Select EU configurations available in Ready-to-Use and Ready-to-Sterilize steam for customer needing a high performance component product line in North America.
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More Insights on the Sterile vials Market
In its latest report, Fact.MR gives a detailed segmentation on global sterile vials market for the forecast period of 2021 and 2031. To understand the market potential and scope, the market is segmented on the basis of product (sterile empty vials (sterile evacuated vials, sterile nitrogen vials, and sterile air filled vials), sterile liquid filled vials (sterile saline filled vials, sterile media filled vials, sterile water filled vials), and individual sterilized components), volume (<2 ml sterile vials, 2 ml to 5 ml sterile vials, 5 ml to 10 ml sterile vials, 10 ml to 20 ml sterile vials and >20 ml sterile vials), material (glass sterile and plastic sterile vials), end-user (clinical labs, compounding labs, biopharmaceutical companies, CMOs and others), and across major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa).
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