Over the forecast period (2022-2032), the plastic vials market is anticipated to expand at a CAGR of 4.9%. Sales are anticipated to rise from $1.2 billion in 2022 to almost double that amount by 2032, with the top five companies accounting for 15% to 20%.
Small plastic containers called plastic vials are used to hold content or collect samples. The plastic vials aid in preserving the contents at the required temperature and shielding them from the outside environment.
In comparison to vials composed of other materials, plastic vials provide higher thermal insulation. Additionally, because plastic is a sturdy material, there is less concern that vials would break. This lessens the requirement to get a new sample in place of the lost one.
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The plastic vials come in a variety of sizes, including up to 2 ml, 3-5 ml, 5-7 ml, and 8 ml and above. These vials are employed in a number of end-use sectors, including medicines, healthcare, cosmetics, and personal care.
Due to the growing demand for vials in the pharmaceutical industry, demand for plastic vials is anticipated to soar. Increased viral propagation over the globe will drive up demand for plastic vials in the pharmaceutical and healthcare sectors.
Additionally, the plastic vials are simple to clean and sterilise, which makes them popular with end-use businesses. The plastic vials are lightweight and simple to handle, which lowers the cost of transit and additional storage. The expanding personal care & cosmetic industry helps in bolstering the demand for plastic vials.
Future Market Insights (FMI) opines, key players operating in the plastic vials market will witness remunerative growth opportunities due to the innovation & customization offered by manufacturers of plastic vials.
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Key Takeaways from Plastic Vials Market
- By material, high-density polyethylene (HDPE) plastic vials segment is estimated to expand at a CAGR of 5.1% during 2022-2032
- The pharmaceuticals & healthcare segment is projected to hold significant share in the plastic vials market due to high demand for plastic vials in hospitals & laboratories.
- Based on end-use, pharmaceuticals & healthcare industry is anticipated to hold around 81% of the market share by the end of 2032.
- North America and Europe are estimated to remain the most lucrative market for the plastic vials market due to the presence of various pharmaceutical & healthcare companies
“Rising need to maintain and keep the content at the right and required temperature among pharmaceutical, personal care & cosmetic, and chemical industries will augment the sales of plastic vials.” –says FMI Analyst
Expansion of Pharmaceuticals & Healthcare Sector to Bolster Plastic Vials Sales
The development of various drugs and medications among various global pharmaceuticals & healthcare companies supplement the sales of plastic vials. Expansion of pharmaceutical & healthcare sector is driving the demand for plastic vials across the globe.
Increasing patient pool in hospitals due to different illnesses and health problems is also expected to bolster the demand for plastic vials. Subsequently, growing production of pharmaceutical drugs and products will push the sales of plastic vials.
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Plastic Vials Market by Category
By Materials:
- Polypropylene (PP)
- High-density Polyethylene (HDPE)
- Polyethylene Terephthalate (PET)
- Other (Polystyrene)
By Capacity:
- Up to 2 ML
- 3-5 ML
- 6-7 ML
- 8 ML & Above
By End Use:
- Pharmaceuticals & Healthcare
- Cosmetics & Personal care
- Chemicals
By Region:
- North America
- Latin America
- Europe
- Middle east and Africa
- East Asia
- South Asia
- Oceania
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