Pharmaceutical Vials Market Growth

Growing Demand for Drugs will Drive the Pharmaceutical Vials Market Growth at CAGR of 6.2%, claims Roots Analysis

Given the high demand for parenteral formulations and rising vaccination campaigns, there is an urgent need for safe and high-quality pharmaceutical vials, for storing and distributing such formulations in large quantities, across the world

The pharmaceutical vials market is expected to reach USD 15.85 billion by 2030, growing at a compounded annual growth rate (CAGR) of 6.2% during the forecast period.

Despite being the most preferred packaging system, traditional vials are often associated with certain challenges, including risk of delamination, chances of damage and traceability issues. Pharmaceutical vial manufacturers are constantly innovating and creating newer and better packaging solutions in order to meet the changing demands of upcoming generations of drug products. Examples of some advancements in this domain include the use of pre-sterilized vials, development of numerous coating materials and adoption of smart drug delivery technologies. In the future, the high demand for parenteral formulations and increase in vaccination campaigns are likely to drive the pharmaceutical vials market growth.

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Key Market Insights

More than 240 pharmaceutical vials are currently available in the market

At present, around 75% of the pharmaceutical vials are fabricated using glass. It is important to highlight that majority (60%) of the pharmaceutical vials have the capacity to hold less than 50 ml of drug product. On the other hand, very few (8%) vials can store more than 100 ml of therapeutic products.

Over 90 companies claim to be engaged in the manufacturing of pharmaceutical vials

Majority of the firms (70%) engaged in this domain are mid-sized players (39%), followed by very large companies (28%), small players (26%) and large companies (7%). In addition, 70% of the stakeholders were established before 2001, while about 80% players are based in Asia Pacific and North America.

Partnership activity within this domain has increased at a CAGR of 30%, between 2015 and 2020

Acquisitions emerged as the most popular type of partnership model adopted by industry stakeholders (26%), followed by product / technology integration agreements (20%) and supply agreements (14%). Further, owing to the COVID-19 pandemic, maximum number (17) of partnerships were recorded in the year 2020.

Global demand for pharmaceutical vials is anticipated to reach more than 80 billion units, by 2030

Currently, pre-sterilized vials hold 29% share of the overall demand for pharmaceutical vials. In 2030, the demand for such vials is projected to increase by up to 35% due to the rising adoption of RTU components. In addition, Asia Pacific and North America are estimated to contribute to 70% of the overall demand for pharmaceutical vials.

North America and Europe are anticipated to capture ~70% of the market share by 2030

The current market is driven by sales of pharmaceutical glass vials (84%); this trend is unlikely to change in the foreseen future. It is worth mentioning that the market in Asia Pacific is anticipated to grow at a relatively faster pace (6.9%), followed by the market in North America (5%). Further, pre-sterilized pharmaceutical vials currently capture 40% of the overall market share (in terms of sales revenues).

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Key Questions Answered

• Who are the leading players engaged in the manufacturing of pharmaceutical vials?
• What is the relative competitiveness of different pharmaceutical vial manufacturers?
• What type of partnership models are commonly adopted by industry stakeholders engaged in this industry?
• What is the current, global demand for pharmaceutical vials?
• What are the emerging trends related to pharmaceutical primary packaging?
• What are the factors that are likely to influence the growth of the pharmaceutical vials market?
• How is the current and future opportunity likely to be distributed across key market segments?

The financial opportunity within the pharmaceutical vials market has been analyzed across the following segments:

• Type of Fabrication Material Used
  • Glass
  • Plastic
• Sterilization Status
  • Pre-sterilized
  • Sterilized
• Key Geographical Regions
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and North Africa
  • Rest of the World

Key Companies Profiled

The research includes profiles of key players (listed below); each profile features a brief overview of the company, its financial performance (if available), recent developments and an informed future outlook.

• Chongqing Zhengchuan Pharmaceutical Packaging
• Corning
• DANYANG XIANGHE PHARMACEUTICAL PACKAGING
• DWK Life Sciences
• Gerresheimer
• Ningbo Zhengli Pharmaceutical Packaging
• Nipro
• Origin Pharma Packaging
• Pacific Vial Manufacturing
• SCHOTT
• SGD Pharma
• Shandong Pharmaceutical Glass
• Stevanato Group
• Thermo Fisher Scientific
• Worldwide Glass Resources

About Roots Analysis

Roots Analysis is a global leader in market research, competitive intelligence and consulting services. Having worked with over 750 clients worldwide, including Fortune 500 companies, start-ups, academia, venture capitalists, and strategic investors for over a decade, we offer a highly analytical / data-driven perspective to a network of over 450,000 senior industry stakeholders looking for credible market insights. All reports provided by us are structured in a way that enables the reader to develop a thorough perspective on the given subject. Apart from writing reports on identified areas, we provide bespoke research / consulting services dedicated to serving our clients in the best possible way.              

Contact Details

Gaurav Chaudhary
Email: Gaurav.chaudhary@rootsanalysis.com or sales@rootsanalysis.com
Website: https://www.rootsanalysis.com