Vials Market: Plethora of Possibilities in Drug Delivery
The global vials market is expected to reach USD 3,200.2 million in 2021 and is projected to grow at a CAGR of 6.8% during the forecast period as per an accurate compilation of market analysis by Quince Market Insights. A vial alternatively known as a phial or a flacon is a small plastic or a glass bottle or vessel. Vials are elementarily deployed to store medication such as powders, liquids, or capsules.
Pharmaceutical packaging plays a prominent role in preserving and protecting the medicinal drug during its tenure of administration. There is always a risk of Bisphenol A, commonly called BPA to mix with the medicinal drug if packed with plastic or metal containers. This one prominent factor has resulted the increase in demand of glass containers especially glass vials in the pharmaceutical packaging industry.
In detecting new life-threatening maladies, rising health awareness has taken the vial packaging market to a new growth trajectory. Glass vials with a spotless design can be kept clean, are dust resistant and are non-reactive with the contents stored in it. Nowadays, manufacturers are highly inclined in the direction of high-tech glasses to keep medicines fluids safe and are also lending priority to sustainable packaging solution.
Glass Vials: Pros and Cons
Unlike plastic or aluminum, the highly favorable properties of glass saves the drug stored maintaining the purity of drug and thus pushing the demand for glass vials for packaging of pharmaceutical and personal care products. Manufacturers and suppliers have voiced their opinions favoring glass vials over alternative containers available in the market as they offer longer shelf-life, ease, and contamination-free storage, etc. Glass vials are easily recyclable and thus are highly preferred on grounds of sustainability. The restraints of glass vials include the expenses incurred in involving large furnaces and machines. Also, in comparison to other substitutes such as plastic and metal, glass vials are highly cumbersome and are prone to easy breakage thus obstructing the growth prospects of glass vials market. Due to this, most of the manufacturers are now adding an additional layer of security by wrapping glass vials in protective silicone sleeves.
Furthermore, plastic vials include a number of neck-closures including flip-tops or snap caps. A vial can be either bottle shaped or can possess a bottle-like shape with a neck.
The space occupied by the neck of the vial is called as the headspace. The small vials, bottles shaped, used in chemical laboratories are termed as McCartney’s bottles or bijou. The bijou bottles are usually smaller, and hold upto 10mm. Various laboratories use variants which solely are need-based such as low adsorption vials, certified vials, screw top vials and interlocked vials.
Vials are primarily used as scientific sample vessels, more specifically in autosampler materials employed in the analytical chromatography process. Furthermore, vials are used as primary or secondary packaging material to store various medicines in their powder, granular or liquid form. Highly scheduled drugs or medications of highly sensitive nature can only be packaged in vials to protect it from the external environment.
The chromatography accessory market as well as the packaging market attracts high demand for vials in the global market. The chromatography market is a technology-influenced market where new technologies and end-users witness constant and fluctuating transformations.
Vials: Skyrocketing Market in Emerging Economies
The vial market is expected to continue making strong inroads over the next few years owing to deft innovations with various types of materials used in the development and designing of vials
The demand for vials is essentially a function of the urgent demand for chromatography procedures in various application industries including biotechnology, life sciences, chemicals, food and beverage, pesticides, and insecticides.
In addition, enrichments in the form of capital funding by the governments in the Asia Pacific region primarily in the biochemical industry is expected to boost the vial market during the projected period.
The geographies of importance in the vial market include North America, Europe, Asia Pacific, Middle East & Africa, and South America. Major players in the North America as well as the Europe are focusing on dominating the market in the Asia pacific region.
Various industries have decided to expand their base in emerging countries like India, China, Taiwan, Hong Kong, and Singapore. These markets offer a wide range of avenues flushed with opportunities and growth and are expected to be high capital-intensive regions as well as new revenue influx for the global market.
Expanding population, gifted technological base, rising number of chemical laboratories, strong funding in various R&D activities and favorable demographics are expected to be the key drivers for the global vial market.
The dominant players functioning in the vial industry include MeadWestvaco Corporation (U.S.), Amcor Ltd, (Australia), Schott AG (Germany), Rexam PLC (U.K.), Gerresheimer AG (Germany), and West Pharmaceutical Services, (U.S.)
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