The plastic vials market is expected to grow at a CAGR of 4.9% globally between 2022 and 2032. The top five companies are expected to contribute for 15% to 20% of sales, which will increase from $1.2 billion in 2022 to roughly double that amount by 2032.
Plastic vials are tiny containers that are used to hold content or collect samples. The plastic vials help keep the contents safe from the environment outside and at the proper temperature.
Plastic vials offer better thermal insulation than those made of other materials. Additionally, there is less worry that vials would break because plastic is a robust material. As a result, getting a fresh sample to replace the lost one is not as necessary.
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The plastic vials are available in a range of sizes, ranging from 2 ml to 8 ml and higher. These vials are used in a variety of end-use industries, such as pharmaceuticals, healthcare, cosmetics, and personal care products.
Plastic vial demand is expected to surge as a result of the pharmaceutical industry’s expanding need for vials. The demand for plastic vials in the pharmaceutical and healthcare industries will expand due to the increase in the transmission of numerous diseases around the world.
Also, the plastic vials are simple to clean and sanitise, 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 need for plastic vials is boosted by the growing personal care and cosmetics sector.
According to Future Market Insights (FMI), key players in the plastic vials market would see lucrative growth prospects as a result of the innovation and customisation provided by plastic vial manufacturers.
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
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“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.
Key Insights oF The Report
• Key Trends in the plastic vials market
• New Advancements in Production Technologies
• New Product Launches, Expansions of plastic vials market
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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
Plastic Vials Market Landscape
Gerresheimer AG, Berry Global Inc., Wheaton (DWK Life Science Inc.), Thornton Plastics, Schott AG, and Sigma-Aldrich Co. LLC are some of the key players operating in the plastic vials market. Also, some of the noticeable players in the plastic vials market include Suncity Plastic Vial Factory, Althor Products, LLC, Containers Plus, Genius Style (India) Pvt. Ltd., and others. The players in tier 1 hold around 10-15% of the global plastic vials market.
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