Fact.MR – A Market Research and Competitive Intelligence Provider: Increased demand for sterile vials from key end-users such as biopharmaceutical firms, clinical and compounding labs has propelled the global sterile vials market in showing consistent expansion.
Sterile Vials Market to Expand at a CAGR of 8.5% through 2031: Fact.MR
The latest Fact.MR report offers actionable and valuable insights on the sterile vials market. It provides a thorough analysis of growth drivers, restrains, opportunities and emerging trends shaping the market dynamics across key regions. To present the information in a coherent manner, the report has been segmented on the basis of product, volume, material and end users across major regions.
Fact.MR – A Market Research and Competitive Intelligence Provider: Increased demand for sterile vials from key end-users such as biopharmaceutical firms, clinical and compounding labs has propelled the global sterile vials market in showing consistent expansion. According to a Fact.MR analysis, the need for sterile vials will increase as the pharmaceutical industry continues to grow.
According to UNAIDS, 37.9 million people worldwide were living with HIV in 2018, with 1.7 million individuals becoming infected for the first time. As the prevalence of infectious diseases rises, so will the demand for sterile vials for sample storage, propelling the market forward.
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According to a research by the Centers for Medicare & Medicaid Services (CMS), the clinical laboratory sector in the United States is predicted to grow dramatically in the future years, with over 260,000 laboratories. This will open up attractive potential for the global expansion of the sterile vial industry.
Furthermore, the increased demand for sterile vials has been fueled by an increase in the number of clinical trials for various medical and diagnostic procedures in the creation of a coronavirus vaccine. Increased government policies to stimulate the development of improved pharmaceutical packaging to distribute the COVID-19 vaccines will also help to drive 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.
Key Takeaways
- Due to increased demand for sterile vials from clinical and compounding labs, the United States dominates the sterile vials market.
- In Europe, sophisticated clinical laboratories and the biopharmaceutical sector are driving the sterile vials market.
- With cutting-edge technologies and a surge in demand from the biopharmaceutical and clinical sectors, China is expected to be the most lucrative market for sterile vials.
- India has emerged as a key contributor to the market's growth due to the growing number of clinical laboratories and biopharmaceutical and biotechnological research institutes.
Key Drivers
- The growing need for sterile vials for the COVID-19 drugs is likely to boost the sterile vial market's sales.
- The expansion of the sterile vials market will be aided by increased government investments in the biopharmaceutical sector.
- The sterile vial will be in high demand as the global need for pharmaceutical items grow.
Key Restraints
- The sterile vials market has been hampered by high clinical and laboratory expenses during the production cycle.
- Transportation, storage, and maintenance costs to affect negatively for the demand of sterile vials.
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Competitive Landscape
Key players operating in the sterile vials market are -
Adelphi Healthcare Packaging, APG Europe, Bormioli Pharma S.p.a., Corning Incorporated, Dalton Pharma Services, DWK Life Sciences GmbH, Gerresheimer AG, Nipro Corporation, Pacific Vial, Piramal Glass, Schott AG, SDG Pharma, Shandong Pharmaceutical Glass Co. Ltd., SiO2 Materials Science, Stevanato Group, Thermo Fisher Scientific, Inc., West Pharmaceutical Services, Inc., and West Pharmaceutical Services, Inc.
They are expected to grow their product portfolio, some of them are focusing on launching new products and product developments. Aside from that, they are acquiring other businesses in order to reinforce and grow their position. For example,
- West Pharmaceutical Services, Inc. stated that the New Vial2Bag Advanced 20mm Admixture Device has received FDA 510(k) clearance and will be available in 2020.
- Dalton Pharma Services debuted its new Dalton Clinical Sterile Vials product line.
- Pfizer, Inc. and Corning Incorporated signed a long-term supply and purchase deal for Corning Valor Glass in May 2020.
More Valuable Insights on Sterile Vials Market
Fact.MR provides an unbiased analysis of the sterile vials market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global sterile vials market with a detailed segmentation on the basis of:
- Product
- Sterile Empty Vials
- Sterile Evacuated Vials
- Sterile Nitrogen Filled Vials
- Sterile Air Filled Vials
- Sterile Liquid Filled Vials
- Sterile Saline Filled Vials
- Sterile Media Filled Vials
- Sterile Water Filled Vials
- Individual Sterilized Components
- Sterile Empty Vials
- 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
- >20 ml Sterile Vials
- Material
- Glass Sterile Vials
- Plastic Sterile Vials
- End User
- Sterile Vials for Clinical Labs
- Sterile Vials for Compounding Labs
- Sterile Vials for Biopharmaceutical Companies
- Sterile Vials for CMOs
- Others
- Region
- North America
- Latin America
- Europe
- Middle East and Africa (MEA)
- East Asia
- South Asia
- Oceania
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