The global micro vials market is set to enjoy a valuation of USD 2.3 billion in 2022, and further expand at a CAGR of 5.6% between 2022 and 2032 to reach USD 4.0 Billion by 2032. Rising adoption across various industries including healthcare, cosmetics & personal care, and chemicals is a key factor driving the demand for micro vials in the market.
Sales of micro glass vials are anticipated to bolster with the top 3 countries estimated to hold around 25-30% of the market by the end of 2022. The global micro vials market forms around 30% of the global vials market which stood at USD 7 billion in 2021.
Based on material, the glass segment is projected to remain the leading segment in the global market, accounting for a major share of around 76% by the end of 2032. The rising usage of glass for making micro vials can be attributed to its chemical properties which can offer protection to various chemicals or adhesives from external effects. By end use, the healthcare segment is projected to register a CAGR of 6.0% from 2022 to 2032.
Micro vails are simple, cost-efficient, and lightweight packaging solutions used for storing and transporting drugs, chemicals, cosmetics, and several other sensitive products. These containers allow manufacturers to protect sensitive and volatile products from external factors such as temperature and microbes. Besides, they are easy to transport and take up much less space than conventional vials.
These vials have especially become popular across the healthcare industry where they are extensively used for storing and protecting products like vaccines that require the highest sensitivity. They are designed to both uphold the highest medical standards and ergonomically protect the integrity of a product.
Hence, the rising production of vaccines along with an increasing number of vaccination drives across the world will act as a catalyst triggering the growth of the micro vials market during the forecast period.
Similarly, with the looming threat of disease outbreaks, governments, and healthcare institutions are continuously looking for ways to tackle these diseases and minimize the economic burden caused by these outbreaks.
As a result, they are launching new initiatives to encourage pharmaceutical companies to increase their production capacity as well as to develop new drugs through extensive research and development. This will positively influence the sales of micro vials during the next ten years. Additionally, the rising adoption of micro vials across industries such as cosmetics & personal care, and chemicals is expected to elevate the demand in the market through 2032.
| Attributes | Key Insights |
|---|---|
| Micro Vials Market Estimated Size 2022 | USD 2.3 Billion |
| Market Size 2032 | USD 4.0 Billion |
| Value CAGR (2022 to 2032) | 5.6% |
| Collective Value Share: Top 3 Countries (2022E) | 25% to 30% |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
The global market witnessed a CAGR of 5.1% during the historical period with, overall sales reaching a valuation of USD 2.2 billion in 2021. However, with growing demand for better packaging solutions across industries like healthcare, chemicals, and personal care, sales of micro vials are set to accelerate at a 5.6% CAGR between 2022 and 2032.
Micro vials are small-sized vials used for storing and transporting drugs, chemicals, or sensitive content without getting contaminated. They have gained immense traction, especially across the healthcare industry due to their ability to protect sensitive products like vaccines from external factors. Thus, rising demand for micro vials across the thriving healthcare industry will continue to boost the growth of the global market during the forecast period.
Similarly, increasing research & development activities in the healthcare industry are opening new doors for the market since vials are the first need for such research. Moreover, the development of various drugs & medications by different global pharmaceutical companies across the globe will elevate the demand for micro vials.
Micro vials manufacturers are extremely sensible when choosing the material for the vials manufacturing. Among various materials, glass is the most suitable material for making micro vials due to its excellent barrier properties.
Rising Number of Vaccination Drives across the World to Boost Market Through 2032
In recent years, there has been a rapid increase in the number of vaccination drives across the world aimed at reducing the burden of numerous diseases. Various governments and regulatory bodies are launching new initiatives to provide people access to vaccines.
For instance, the Initiative For Global Vaccine Access (GLOBAL VAX) was launched by the United States Agency for International Development (USAID), in December 2021 to accelerate vaccine access and delivery assistance around the world.
Most of these vaccines need high-end safety packaging solutions like micro vials. Micro vials are the best suitable packaging solution for vaccines and have essential features to protect vaccines from outer reactions. They are helpful for vaccines as they protect them from getting destroyed and extend their shelf life. Thus, the micro vials market is getting lucrative opportunities amid the vaccination drive across the globe.
“Increasing Focus on Child Resistant Packaging to Create Opportunity”
Manufacturers of cosmetics, pharmaceuticals, and other products are attempting to concentrate on creating child-resistant packaging. To prevent the death of a child, which can occasionally result from acute poisoning after the consumption of unsupervised pharmaceutical or cosmetic items, the focus has been placed on child-resistant packaging.
By creating child-resistant packaging, businesses can expand into other sectors, such as the pharmaceutical and cosmetics industries. There are micro vials available with child-resistant seals, which offers some potential for the market's growth.
Additionally, businesses can create several strategies to make the packaging child-resistant; for instance, vial manufacturers may choose single-dose packaging.
Child-resistant packaging is regarded as a crucial safety element that must be taken into consideration because it helps prevent children from ingesting unexpected and harmful pharmaceutical items. Therefore, the introduction of child-resistant packaging by micro vial producers offers a wide range of growth prospects for micro vials among end-use sectors.
Principal Consultant
Booming Chemical Industry Pushing Demand for Micro Vials in China
China is estimated to hold around 64% value share of the East Asia micro vials market by the end of 2022. This is due to the rapid expansion of the chemical industry and the easy availability of raw materials at much lower costs.
China has a strong position in the global chemical industry. Easy labor availability simplifies the production efficiency of the country. China as a strong economy has strengthened production applications as well as technologies. According to the data collected from the European Chemical Industry Council, China is the leading exporter of chemicals. The country sold USD 1,701 Billion worth of chemicals in 2020. Overall, the expanding chemical industry in China is projected to fuel the demand for micro vials during the forecast period.
Bulk Vaccine Production Boosting Sales of Micro Vials in India
As per FMI, India’s micro vials market is projected to grow 1.8 times the current market value during the forecast period, making it one of the fastest-growing markets across South Asia. Rising production and export of vaccines, favorable government regulations and initiatives, and the strong presence of some of the leading pharmaceutical companies are some of the key factors driving demand for micro vials in India.
After the pandemic hit the global market, Indian pharmaceutical giants grabbed the opportunity to produce vaccines in bulk. The government’s interference has helped the pharmaceutical industry in India to push its operations globally. As per data collected from National Public Radio, India is the largest vaccine producer in the world. The mass production capacity of the Indian pharmaceutical industry is helping the micro vials market to expand.
Excellent Properties of Glass Making It Highly Adopted Material for Making Micro Vials
Based on the material segment, the glass vials segment is projected to hold the major portion of the global micro vials market during the forecast period. The target segment is anticipated to grow 1.7x the current market value by the end of 2032. This can be attributed to the rising usage of glass for making micro vials due to its excellent properties including high chemical and temperature resistance, sustainable nature, and optimum containers closure integrity (CCI)
Similarly, the growing preference of pharmaceutical companies for storing and transporting sensitive compositions in glass-based micro vials is expected to boost the growth of the target segment during the forecast period.
Increasing Research and Development Activities Setting up a Stage for the Micro Vials Market
As per FMI, the healthcare segment in terms of end-use is anticipated to register a robust CAGR of 5.8% during the forecast period (2022 to 2032). This can be attributed to increasing Research and Development activities, the growing prevalence of chronic and infectious diseases worldwide, and the rising need for protecting sensitive healthcare products during storage and transportation.
The healthcare industry is completely focused on extensive research and development to provide the market with effective solutions. The research and development sector of the healthcare industry requires protective storage solutions to store its liquid adhesives or other chemicals during research processes. For this purpose, micro vials are being increasingly used.
Incremental opportunities for the micro vials market arise since the healthcare packaging is more concentrated on serving innovative healthcare solutions to the market. Therefore, the boosted research in the healthcare industry is setting up a huge stage for the micro vials market to perform its highest sales.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
Key manufacturers of micro vials are employing various organic and inorganic strategies such as new product launches, mergers, acquisitions, collaborations, facility expansions, and strengthening distribution channels. Further, they are investing rigorously in research and innovations. Some of the recent developments in the market include:
| Attribute | Details |
|---|---|
| Estimated Market Size (2022) | USD 2.3 Billion |
| Projected Market Size (2032) | USD 4.0 Billion |
| Anticipated Growth Rate (2022 to 2032) | 5.6% CAGR |
| Historical Data | 2015 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Units, and CAGR from 2022 to 2032 |
| Segments Covered | Material, Capacity, End Use, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Middle East and Africa (MEA); Oceania |
| Key Countries Covered | The USA, Canada, Mexico, Brazil, Germany, The UK, France, Italy, Spain, Russia, China, Japan, India, GCC countries, Australia |
| Key Companies Profiled | Gerresheimer AG; Berry Global Group; DWK Life Sciences; Schott AG; Thornton Plastics; Sigma-Aldrich Co. LLC; West Pharmaceutical Services, Inc.; Adelphi Group; Pacific Vial Manufacturing, Inc.; SGD Pharma; PGP Glass Private Limited; Stevanato Group; Origin Pharma Packaging; Phoenix Glass; Agilent Technologies, Inc. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The global micro vials market size is expected to reach USD 2.3 Billion in 2022.
During the forecast period, the global micro vials market is anticipated to expand at a CAGR of 5.6%.
The global micro vials market is expected to reach USD 4.0 Billion by the end of 2032.
During the forecast period, glass material is likely to be the fastest-growing material segment in the global micro vials market.
Increasing research and developments activities, growing usage of micro vials for storing sensitive pharmaceutical products, and increasing healthcare spending are some of the key factors driving demand for micro vials in the market.
Gerresheimer AG, Berry Global Group, DWK Life Sciences, Schott AG, Thornton Plastics, Sigma-Aldrich Co. LLC, West Pharmaceutical Services, Inc., Adelphi Group, and Pacific Vial Manufacturing, Inc. are some of the leading players in the market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2015 to 2021 and Forecast, 2022 to 2032 5. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Material 5.1. Glass 5.2. Plastic 6. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Capacity 6.1. Less than 1ml 6.2. 1 ml - 3 ml 6.3. 3.1 ml - 5ml 6.4. Above 5ml 7. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By End Use 7.1. Healthcare 7.2. Personal Care 7.3. Chemicals 8. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. East Asia 8.5. South Asia 8.6. Oceania 8.7. Middle East and Africa (MEA) 9. North America Market Analysis 2015 to 2021 and Forecast 2022 to 2032 10. Latin America Market Analysis 2015 to 2021 and Forecast 2022 to 2032 11. Europe Market Analysis 2015 to 2021 and Forecast 2022 to 2032 12. East Asia Market Analysis 2015 to 2021 and Forecast 2022 to 2032 13. South Asia Market Analysis 2015 to 2021 and Forecast 2022 to 2032 14. Oceania Market Analysis 2015 to 2021 and Forecast 2022 to 2032 15. Middle East & Africa Market Analysis 2015 to 2021 and Forecast 2022 to 2032 17. Market Structure Analysis 18. Competition Analysis 18.1. Gerresheimer AG 18.2. Berry Global Group 18.3. DWK Life Sciences 18.4. Schott AG 18.5. Thornton Plastics 18.6. Sigma-Aldrich Co. LLC 18.7. West Pharmaceutical Services, Inc. 18.8. Adelphi Group 18.9. Pacific Vial Manufacturing, Inc. 18.10. SGD Pharma 18.11. PGP Glass Private Limited 18.12. Stevanato Group 18.13. Origin Pharma Packaging 18.14. Phoenix Glass 18.15. Agilent Technologies, Inc. 19. Assumptions and Acronyms Used 20. Research Methodology
Explore Packaging Insights
View Reports
Micro Vials Market
