Pharmaceutical vials Market Snapshot
Future Market Insights in its recently updated report forecasts that pharmaceutical vials sales to rise consistently at 6.3% CAGR between 2021 and 2031. Fueled by escalating demand for parenteral drugs in proper dosages, the pharmaceutical vials market valuation is forecast to surpass US$ 11.604 Billion with sales of 122 billion units in 2021.
North America is expected to lead the pharmaceutical vials market due to presence of leading pharmaceutical companies in U.S. and Canada and increasing production and export of vaccines from the region. Spurred by this, the North America market is projected to grow at 5.3% CAGR during the forecast period.
Key Points Covered In Pharmaceutical Vials Market Study
- Market estimates and forecast 2021 – 2031
- Key drivers and restrains impacting market growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competitive Mapping and Benchmarking
- Brand share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact On Pharmaceutical Vials Market
- Recommendation on Key Winning Strategies
2016 – 2020 Pharmaceutical Vials Market Outlook In Comparison to 2021 – 2031 Forecasts
Increasing demand for parenteral drugs has been key factor enabling the expansion of pharmaceutical vials market in recent years. Between 2016 and 2020, the market grew at around 6.1% CAGR, says Future Market Insights (FMI) in its recent report.
National Cancer Institute reports that in 2020, around 1.8 million new cancer cases were diagnosed in U.S. Rise in number of new cancer cases across the globe has further elevated the demand for pharmaceutical vials especially for chemotherapy drugs.
In June 2021, Zydus Cadila Healthcare received a tentative approval from U.S. Food and Drug Administration (FDA) to market and sell “pemetrexed” in 100mg/vial, 500 mg/vial, and 1000 mg/vial, and single-dose vials for injection. Pemetrexed is a chemotherapy drug and is found effective in slowing or stopping the growth of cancer cells.
Unprecedented outbreak of COVID-19 pandemic has increased the demand for parenteral drugs, encouraging market players to develop new pharmaceutical vials that are safe, sterile, and remain contamination free before administration. This will create lucrative growth opportunities for the market.
Responding to high demand for COVID-19 parenteral drugs, in 2021, SGD Pharma launched its new ready to use 20ml EasyLyo molded glass Type I vials packed in its modern secondary packaging format called “SG EZ-fill® Nest & Tub”.
The company claims that this new primary and secondary packaging combination will offer biopharmaceutical producers the necessary flexibility in terms of delivering innovative medicines to patients at a faster rate.
Increasing vaccination drives and high demand for parenteral drugs like insulin and corticosteroids will drive the pharmaceutical vials market growth globally for forthcoming decade.
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Pharmaceutical Vials Market Analysis
Pharmaceutical vials are a type of small containers that are used for the purpose of storing liquid medications. They are made up of plastic or glass and are mainly used for unit dose packaging of medications. Pharmaceutical vials also help patients in consuming their medications in the right dosage and at the right time.
Ever since the last few decades, due to low medical adherence by patients, has posed a critical situation for the healthcare industry as it involves safety of the patients and causes increased healthcare spending. To solve these issues, the healthcare industry is making constant efforts to improve the intake of medications by patients and ensure that the patients take the right dosage of drugs at the right time. In this process, packaging of drugs and various medicines plays an important part.
Particularly in the United States, it has been reported that around 50 percent of the prescribed medications are taken incorrectly by patients. In addition, in an independent study, it was found out that since patients don’t take their medications in the right manner, there are increased medical costs to the tune of US$ 200 billion.
Due to this situation, there is a demand created for such kind of pharmaceutical products that contain medications in such form that can be easily taken by the patients. This helps the patients to take the right dosage of medicines at the correct time, thus reducing their time of recovery and reducing the burden on the healthcare system as well.
Future Market Insights has come up with a comprehensive report that covers all the features related to the global pharmaceutical vials market. Such features contain important market information on the drivers, trends, restraints and opportunities that influence the growth of this market.
These factors are assessed across the important regions of the world which cover all the important global pharmaceutical vials market in detail. The report also contains the historical analysis from the period 2017 to 2026 and the projections from a time period of nine years starting from the year 2021 till the year 2031.
As per the projections of Future Market Insights, the global pharmaceutical vials market is projected to possess a moderate CAGR. In the year 2021, the global pharmaceutical vials market is estimated to be valued at nearly US$ 11,604 million by the end of the year 2021.
Plastics to Remain Preferred Material Type
The plastic sub-segment in the material type category is anticipated to grow at a robust growth rate and register a CAGR of 5.1% during the period of assessment. This is a highly lucrative segment in the material type category.
As per the projections of Future Market Insights, the plastic sub-segment is estimated to touch a value of nearly US$ 7,700 Mn at the end of the year 2021 and is expected to touch a value of nearly US$ 12,000 Mn at the end of the year 2031.
Demand for Glass Pharmaceutical Vials to Surge
The glass sub-segment is trailing the plastic sub-segment in the material type category, and is projected to register a CAGR of 3.8% during the period of assessment.
The glass sub-segment is estimated to be valued at nearly US$ 2,450 Mn in the year 2021 and is expected to touch a value of nearly US$ 3,400 Mn at the end of the period of assessment in the year 2031.
The report on global pharmaceutical vials market contains in it key information regarding the important players functional in this market such as Schott AG, Gerreshemier AG, West Pharmaceutical Services, Inc., O.BERK COMPANY, LLC, Adelphi Healthcare Packaging, Pacific Vial Manufacturing Inc., Piramal Glass, SGD SA, Stevanato Group S.p.a and Nipro Europe.
This list is indicative - full details about prominent pharmaceutical vials manufacturers is available upon request
Pharmaceutical vials Market – Report Scope
2021 – 2031
Historical Data Available for
2017 – 2026
US$ Mn for Value & Units for Volume
Key Regions Covered
North America, Latin America, Europe, Asia Pacific excluding Japan, Japan, and Middle East and Africa
Key Countries Covered
U.S., Canada, Brazil, Mexico, Argentina, Rest of Latin America, EU-5, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Denmark, Finland, Iceland, Norway, Sweden), Poland, Russia, Rest of Europe, China, India, Japan, GCC Countries, South Africa, Israel, Turkey, Iran, Rest of Middle East & Africa, Australia, New Zealand, South Korea, the Philippines, Malaysia, and Thailand
Key Segments Covered
Product type, Material Type, Capacity Size, and Region
Key Companies Profiled
Market Overview, Market Background, Market Forecast, Segmental Analysis, Regional Profiling and Competition Analysis
Customization & Pricing
Available upon Request
Key Questions Answered in the Report
What is pharmaceutical vials market size?
Driven by increasing demand for liquid medication, the pharmaceutical vials market size is forecast to reach US$ 11,604 Million in 2021.
At what rate did the pharmaceutical vials market expand in the last five years?
Between 2016 and 2020, the pharmaceutical vials sales surged at a 6.1% CAGR.
What are the key trends shaping the pharmaceutical vials market?
High adoption of glass vials compare to other alternative glass containers for pharmaceutical applications is a key trend shaping the pharmaceutical vials market.
Which countries are leading the pharmaceutical vials export in 2021?
U.S., China, Japan, and Germany are the leading exporter of pharmaceutical vials in 2021.
What is the North America pharmaceutical vials market outlook?
Demand registered in North America will continue rising, backed increasing sales in the U.S. and Canada, the North America market is expected to grow at around 5.3% CAGR in 2021.
Who are the leading companies in pharmaceutical vials market?
Gerresheimer AG, Schott AG, Berry Global Inc., West Pharmaceutical Services Inc, and Nipro Corporation are the top five pharmaceutical vial companies in the world.
What is the cumulative share of top five companies in pharmaceutical vials market?
Top five market players account for nearly 10% to 15% of the pharmaceutical vials market share as of 2021.
At what rate will pharmaceutical vials sales increase in Europe?
Pharmaceutical vials sales will increase at 4.8% CAGR in Europe, backed by rising demand in the U.K., Germany, and other countries.
Which are the top five countries driving pharmaceutical vials market demand?
Leading countries driving demand in the pharmaceutical vials market are China, U.S., France, Japan, and Germany.
What are the key statistics for pharmaceutical vials market in Japan and South Korea?
Japan and South Korea accounts for 18% and 12% share respectively in the East Asia pharmaceutical vials market in 2021.
Key Segments Covered in Pharmaceutical Vials Market Study:
By Product Type
- Self Standing
- Round Bottom
By Material Type
By Capacity Size
- North America
- Latin America
- Asia Pacific Excluding Japan
- Middle East & Africa (MEA)