The global plastic vials market is preparing for significant growth over the next decade, with projections indicating substantial expansion. Valued at US$ 2.1 billion in 2024, the market is forecasted to grow at a compound annual growth rate (CAGR) of 6.40%, reaching US$ 3.9 billion by 2034. This anticipated trajectory reflects a robust upward trend, indicating promising opportunities for growth and development within the market landscape.
The plastic vial market is anticipated to witness significant growth, driven by the rising demand for reliable and safe packaging solutions in the pharmaceutical and healthcare industries. The increasing prevalence of chronic diseases and the consequent rise in diagnostic activities are key factors fueling this demand. Plastic vials offer numerous advantages, including durability, cost-effectiveness, and lightweight properties, making them ideal for storing and transporting medical samples, reagents, and drugs.
Technological advancements in plastic materials and manufacturing processes are further enhancing the quality and performance of these vials. Additionally, the growing focus on sustainability is leading to the development of eco-friendly and recyclable plastic vials, which are gaining traction among environmentally conscious consumers and businesses. The expansion of the biotechnology sector and the rising trend of personalized medicine are also contributing to the market growth. As healthcare infrastructure improves globally, the demand for plastic vials is expected to surge, driven by their critical role in ensuring the safety and integrity of medical products.
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The demand in the plastic vials market is expected to burgeon due to the increasing need for vials in the pharmaceutical industry. Rise in the spread of the different virus across the world will propel the demand for plastic vials in the pharmaceutical & healthcare industry.
Moreover, the plastic vials can be easily cleaned and sterilized which gains popularity among the end use industries. The plastic vials are light in weight and easy to handle which helps in reducing the transportation & extra storage cost. 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.
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
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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.
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.
About Future Market Insights Inc. (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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