Depyrogenated Sterile Empty Vials Market size worth $1.4 Bn by 2026

Depyrogenated Sterile Empty Vials Market size is set to exceed USD 1.4 billion by 2026; according to a new research report by Global Market Insights Inc.
 

Growing number of compounding and clinical labs across the globe will boost the demand for depyrogenated sterile empty vials. Compounding labs can formulate medication that is not produced commercially. Furthermore, they can formulate liquid medication for people with difficulty in swallowing pills. These benefits offered by compounding labs will increase the adoption of compounded drugs. Reliance of compounding laboratories on depyrogenated sterile vials for drug storage and delivery will foster the global depyrogenated sterile empty vials market progress.  
 

Technological advancements in vials and manufacturing processes will positively augment the market growth

The focus of market players on development of innovative vials and improved manufacturing processes will positively impact the depyrogenated sterile empty vials market expansion. The emphasis on development of advanced manufacturing process to increase the affordability of the vials will favor market growth. Development of an innovative platform that provides a ready-to-use solution for sterile production of vials is predicted to boost the depyrogenated sterile empty vials industry growth over the forecast period.  
 

Rising number of compounding and clinical labs will spur industry expansion

Surge in number of compounding and clinical labs, especially in developed markets will propel the depyrogenated sterile empty vials market growth. Furthermore, a growing number of biotechnology and pharmacy research projects will lead to a rise in number of clinical laboratories. Increasing usage of sterile vials in clinical settings for sample storage will boost the demand for depyrogenated sterile empty vials. Additionally, a growing number of compounding labs in developed economies will increase the demand for custom medication. Rising demand for depyrogenated sterile empty vials for storage of compounded drugs and medication, will contribute to market expansion over the analysis timeframe.
 

Browse key industry insights spread across 250 pages with 300 market data tables & 8 figures & charts from the report, “ Depyrogenated Sterile Empty Vials Market Size By Product (2 ml, 5 ml, 10 ml, 20 ml, >20 ml), By Package Technology (Glass {Molded, Tubular}, Plastic), By End-use (Clinical Labs, Compounding Labs, Pharmaceutical Companies, Contract Manufacturing Organizations, Distributors), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/depyrogenated-sterile-empty-vials-market
 

Application of depyrogenated sterile empty vials in injectable packaging to boost the 20 ml vial business growth

The depyrogenated sterile empty vials are segmented into 2 ml, 5 ml, 10 ml, 20 ml and 20+ ml vials. The 20 ml vial segment held around USD 120 million revenue in 2019 and is forecasted to witness a significant growth over the analysis timeframe. The convenience offered by 20 ml vials for storing samples and for injectable packaging will bolster the depyrogenated sterile empty vials market growth. Usage of these vials for transportation of small amounts of solvents will increase its usage in clinical and research laboratories, thus, driving the business growth.
 

Resistance of plastic vials to delamination will spur the segment size

By package technology, the depyrogenated sterile empty vials market is bifurcated into glass and plastic vials. The plastic vials segment is estimated to show more than 8% CAGR over the forecast period. Plastic vials are less prone to delamination and breakage issues as compared to glass vials. Furthermore, glass vials with rubber stoppers could lead to leaching of the sample from the rubber. Plastic vials reduce potential damage and product failure issues, thus, contributing to market growth over the analysis timeframe.
 

Growing number of pharmaceutical companies to increase the demand for sterile vials

Depyrogenated sterile empty vials are used in clinical labs, compounding labs, pharmaceutical companies, contract manufacturing organizations, distributors and others. Pharmaceutical companies segment held over 20% of depyrogenated sterile empty vials market share in 2019 and is projected to witness tremendous growth over the forecast timeframe. Increasing need for appropriate storage of drugs such as emergency medicines and chemotherapy cocktails will favor the segment growth. Furthermore, an increasing prevalence of infectious diseases across the globe will boost the demand for depyrogenated sterile empty vials for sample collection and storage. These factors will thus spur the market growth over the coming years.
 

Strong presence of major market players in North America to bolster the regional industry growth

The North America depyrogenated sterile empty vials market growth is anticipated to exhibit around 7% CAGR across the forecast period. A strong presence of major market players in the region will serve to be a key factor driving the regional industry growth. Rising number of compounding labs to meet the demand for personalized medications coupled with an increasing prevalence of contagious and non-contagious diseases in the region will further boost the market demand for depyrogenated sterile empty vials, fostering industry expansion over the upcoming years.
 

Companies are focusing on innovative product launches in a bid to capture market share

Few of the leading companies operating in the depyrogenated sterile empty vials market share are Thermo Fisher Scientific, APG Pharma, Corning Incorporated, Nipro PharmaPackaging, SCHOTT, Stevanato Group, and SGD Pharma. The companies are focusing on launching innovative products and optimizing their manufacturing processes in order to reduce the cost of depyrogenated sterile empty vials. For instance, in October 2019, Corning announced FDA approval for their new Valor glass to be used in pharmaceutical packaging. The new product launch will enable Corning to increase its operations in the U.S. market and consolidate its revenue generation. In March 2018, SGD Pharma introduced its Clareo range of molded glass depyrogenated sterile empty vials for injectable solutions. This initiative has helped the company in increasing their market share and operations.