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.
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In order to ensure that patients take their doses of drugs timely and in proper quantity as prescribed, pharmaceutical vials are used as facilitators. It has been observed in various studies that due to the non-adherence to proper dosage and timely intake of drugs, the medical costs have been increasing tremendously and this is creating a huge burden on the healthcare system.
To reduce this non-adherence, pharmaceutical vials are used in the healthcare industry in order to give patients a certain level of comfort while taking their medicines and also ensuring that they take their medicine in a correct dosage and at the right time.
This is helpful for patients as it helps in their speedy recovery and is also helpful to the healthcare system as it reduces the burden with the patients being cured in the expected period of time without any delays by taking their medications properly.
Global Pharmaceutical Vials Market: Forecast Analysis
Future Market Insights presents a new research report titled ‘Pharmaceutical Vials Market: Global Industry Analysis (2017-2026) and Opportunity Assessment (2021-2031)’ that includes the analysis of the various segments of this market across the important regions in the world.
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As per this research report, the global pharmaceutical vials market is projected to grow at a moderate CAGR during the period of assessment and is poised to reach a market value of nearly US$ 11,604 Mn by 2031, the end year of the assessment of this report.
Global Pharmaceutical Vials Market: Segmentation Insights
The global pharmaceutical vials market is classified on the basis of product type, material type, capacity size and region.
· By product type, self-standing pharmaceutical vials was the largest sub-segment in terms of value at US$ 7,050 Mn by the end of the year 2021 and is expected to exhibit a CAGR of 4.3% during the assessment period 2021-2031.
· By material type, plastics was the largest sub-segment in terms of value, and is likely to be valued at nearly US$ 12,000 Mn at the end of the year 2031, with a CAGR of 5.1% during the assessment period.
· By capacity size, the 1-10 ml sub-segment is the largest sub-segment in terms of value, at nearly US$ 6,700 Mn by the end of the year 2021 and is likely to exhibit a CAGR of 4.3% during the period of assessment.
· By region, North America is expected to lead the global pharmaceutical vials market in terms of revenue, with a valuation of nearly US$ 3,300 Mn at the end of the year 2021. The North America region is projected to exhibit a CAGR of 3.9% during the period of forecast.
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Global Pharmaceutical Vials Market: Competitive Landscape
The research report on the global pharmaceutical vials market has an entire section devoted to study the competition landscape of this market in which the key players that are functional in the market are profiled.
This section also has important information about the companies that have been profiled in this report; such as company overview, key financials, geographical reach, SWOT analysis, key strategies, etc. The companies that have been profiled in this research report include West Pharmaceutical Services, Inc., Nipro Europe, O.BERK COMPANY, LLC, Gerreshemier AG, Piramal Glass, Schott AG, Stevanato Group S.p.a, Adelphi Healthcare Packaging, SGD SA and Pacific Vial Manufacturing Inc.
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