The global sales of scintillation vials are estimated to be worth USD 267 million in 2021 and are anticipated to reach a value of USD 432.9 million by 2031. Sales are projected to rise at a CAGR of 5.0% over the forecast period between 2021 and 2031. The revenue generated by scintillation vials in 2020 was USD 254 million.
The scintillation vials market is fueled by the growing demand for sophisticated laboratory and research equipment in various industries such as pharmaceuticals and biotechnology, among others.
The vials form a necessary part of the exact measurement of radioactive samples, a factor that increases demand as nuclear medicine and radiological research continue to grow. Innovations regarding vial materials, including improved chemical resistance and enhanced transparency, support better accuracy and safety in experiments.
This trend is, in addition, driven by increasing academic and clinical research in areas related to the treatment and diagnosis of cancer. Further, strict standards put in place for the handling and disposal of samples raise demands for high-quality, standards-compliant scintillation vials. Another developing factor driving market growth is the increased global research infrastructure and government funding within the life sciences.
Global Scintillation Vials Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2020 | USD 254 million |
| Estimated Size, 2021 | USD 267 million |
| Projected Size, 2031 | USD 432.9 million |
| Value-based CAGR (2021 to 2031) | 5.0% |
Scintillation vials permit easy UV light transmission and are light-weight, which allows increased counting efficiency. In addition, these vials help to preserve and protect the drugs and also helps in the detection of microorganisms. These particular vials are easy to clean, dust resistant, and non-reactive with the samples stored in it.
Furthermore, they are eco-friendly and also maintains hygienic conditions. They can be recycled, which can reduce the costs of waste disposal. They are made from glass which resists oxygen permeation, which prevents the drugs from degradation.
Glass vials resist the escape of volatile ingredients, thus keeping the sample in its original form. Scintillation vials are available in market are manufactured from materials such as glass, polyethylene etc., depending on need of the customers. They are available with caps and without caps based on its usage. Capped vials are the most preferred owing to its prevention from chances of spillage and contamination of samples. The vials are extensively used in the pharmaceutical and biotech industry.
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Changing environmental conditions have led to an increase in health problems and diseases. Need for a safe and hygienic storage system is anticipated to drive the market for vials. The vials are growing on the backdrop of upsurge demand from several end use like biotech, life sciences, pathology, etc.
In addition, evolving pharmaceutical sector and growth in diagnostics related spending is projected to acts as a key driver for the development of these vials’ market during the forecast period.
Furthermore, increasing awareness about health concerns has led to increased check-up rates, which is driving the desired market. The desired vials can be reused and recycled, which provides an eco-friendly option and can gain attention of the consumers.
Plastic vials with caps are easy to carry and are even light weight and tough as compared to glass vials. However, government regulations for disposal of plastic waste can hamper the plastic scintillation vials market during the forecast period. Glass vials are vulnerable and can easily break thus can hinder the global vials market during the forecast period.
In the past, pharmaceutical and biotech companies dominated the vials market under the end user segment, and they will also witness the fastest growth in the usage of vials in the near future.
As these firms manufacture drugs in bulk, they require vials in large numbers. The rising demand for more-effective drugs, owing to the increasing prevalence of chronic and acute diseases, is propelling the procurement of such products by biopharma and pharma companies
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In North America, USA is anticipated to witness significant growth for the market of these vials during the forecast period. The USA is currently the most-lucrative vials market on account of the expansion of its pharmaceutical industry, presence of established industry players, rise in the awareness regarding the newly launched drugs, and high spending on research and development efforts.
In Asia Pacific region, India, China and South Asian countries are estimated to witness extensive growth for scintillation vials market. Growing biopharma research in these countries is augmenting demand from the established pharmaceutical manufacturing sector in these countries.
Increasing research & development spending in these countries is projected to further drive the market of these vials during the forecast period.
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Some of the leading manufacturers and suppliers of Scintillation Vials include
As a result, extensive research and development (R&D) has unearthed numerous drugs, many of which have already received the regulatory approval and are now being used worldwide. Since most of these drugs are injectable, the pandemic has resulted in a demand surge for the vials market which is providing revenue generation opportunities for key vial makers.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Scintillation Vials Market
