The global sales of serum vials are estimated to be worth USD 1.6 billion in 2021 and are anticipated to reach a value of USD 2.5 billion by 2031. Sales are projected to rise at a CAGR of 4.6% over the forecast period between 2021 and 2031. The revenue generated by serum vials in 2020 was USD 1.5 billion.
The serum vials market has been influenced by the increasing demand for biologics and injectable drugs, requiring safe and sterile packaging solutions. Growth in pharmaceuticals and biotechnology, added to personalized medicine, has driven up the demand for premium vials that offer protection to the product through maintained integrity and stability. Advancement in the manufacturing of vials-innovations in glass and plastic materials for improved safety and performance-further supports market growth in this industry.
Increase in demand for advanced vial technologies also arises from an accelerated emphasis on compliance with regulations and standards of quality control. Increasing healthcare infrastructure across the globe, along with a rise in healthcare expenditure, is also boosting the demand for serum vials.
Global Serum Vials Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2020 | USD 1.5 billion |
| Estimated Size, 2021 | USD 1.6 billion |
| Projected Size, 2031 | USD 2.5 billion |
| Value-based CAGR (2021 to 2031) | 4.6% |
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They are versatile and also recyclable and used to store medicines with the right quantity due to the available capacity of the vial such as less than 10ml and others. The major factor for soaring the demand is for maintaining the quality of medicine for a prescribed period.
Due to the leak-proof property by using a screw or cork will further secure the medicine inside the vial for the transportation of the medicines. As previous vials of plastic or aluminum glass do not impart the flavors into the medicines stored in the vial and thus provide escalation in the imposition of the vials.
Numerous players in the pharmaceutical industries and testing laboratories have prospered on the back of state-of-the-art facilities. The demand is so much that they are expanding their product portfolio that conforms to ISO 15378 GMP Standards.
The rise in the demand for pharmaceutical products in this pandemic will surely gargantuan the demand for the vials for the storage of vaccines and samples of the strains. Strides in pharmaceutical packaging have boosted the trend of adopting eco-friendly materials.
The demand from the healthcare and hospital due to the increase in the consumption of vaccines, biopharmaceuticals, and insulin will provide ample amount of growth. Hence the market witness the backdrop of the chromatography market in various industries including biotechnology, life science, chemical, F&B, and pesticides.
Researchers need ready to use vials and serum vials for their laboratory work. Some of the regulations compromise United States Pharmacopeia, European Pharmacopeia standards, and British Standard BS1679. A growing arrogation for vials for pharmaceutical, healthcare, and hospital and laboratory work will propel the market towards healthy growth.
Principal Consultant
Regionally, North America has been a remarkably lucrative market. a part of their revenue generation is supported by the presence of numerous globally prominent pharmaceutical packaging manufacturers. The growing focus on the safety of medications that patients take is also bolstering the regional prospects, especially in the USA
Furthermore, in near future a sizable economic growth is expected in developing countries such as India, China, ASEAN, etc. with growing applications of serum vials in drugs storage and sample collection will drive the overall growth of the market in the Asia Pacific region.
As the developing region Asia Pacific shows healthier outcome in the field of pharmaceutical and medical sector. In the near future the overall Asia Pacific region would conquer the market by its own in terms of market value which would then make a steady growth over the period of time.
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Some of the leading manufacturers and suppliers of Serum Vials include
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 an 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.
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. Raw Material Type 6.2. Product Type 6.3. Storage Capacity 6.4. End-User 7. Global Market Analysis and Forecast, By Raw Material Type 7.1. Glass 7.2. Borosilicate Glass 7.3. Fused Silica Glass 7.4. Plastic 7.5. PP 8. Global Market Analysis and Forecast, By Product Type 8.1. EPA Vials 8.2. Headspace Vials 8.3. Shell Vials 8.4. Tubular 8.5. Molded 8.6. Screw Neck 9. Global Market Analysis and Forecast, By Storage Capacity 9.1. Less than 10ml 9.2. 10ml to 20ml 9.3. 20ml to 40ml 9.4. 40ml and above 10. Global Market Analysis and Forecast, By End-User 10.1. Pharmaceuticals 10.2. Healthcare and Hospitals 10.3. Chemicals 10.4. Industrials 10.5. Others 11. Global Market Analysis and Forecast, By Region 11.1. North America 11.2. Latin America 11.3. Western Europe 11.4. Eastern Europe 11.5. Asia Pacific 11.6. East Asia 11.7. MEA 12. North America Sales Analysis and Forecast, by Key Segments and Countries 13. Latin America Sales Analysis and Forecast, by Key Segments and Countries 14. Western Europe Sales Analysis and Forecast, by Key Segments and Countries 15. Eastern Europe Sales Analysis and Forecast, by Key Segments and Countries 16. Asia Pacific Sales Analysis and Forecast, by Key Segments and Countries 17. East Asia Sales Analysis and Forecast, by Key Segments and Countries 18. MEA Sales Analysis and Forecast, by Key Segments and Countries 19. Sales Forecast by Raw Material Type, Product Type, Storage Capacity, and End-User for 30 Countries 20. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 21. Company Profile 21.1. Gerresheimer AG 21.2. SCHOTT AG 21.3. MedicoPack 21.4. Amcor Limited 21.5. Pacific Vials 21.6. Berry Global 21.7. West Pharmaceutical Services 21.8. BERK Company 21.9. Piramal Glass 21.10. Stevanto Group 21.11. Nipro Europe 21.12. Borosil Glass Works Limited 21.13. DWK Life Sciences GmbH 21.14. Qorpak Inc. 21.15. Thermo Fisher Scientific Inc. 21.16. Richland Glass Company Inc.
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Serum Vials Market
