Global Glass Bottles and Vials for Vaccines and Pharmaceutical Market is estimated to grow at a CAGR of 7.45% during the forecast period
— Insightace analysis
NEW JERSEY, NJ, USA, September 28, 2022 /EINPresswire.com/ — InsightAce Analytics Pvt. announces the publication of a market assessment report on the “Glass bottles and vials for global vaccines and pharmaceuticals market By Application (Vaccines and General Medicine), End User (Hospital, Drug Manufacturers, Diagnostic Centers and Others) – Trends, Industry Competitive Analysis, Revenue and Forecast to 2030.
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The global glass bottles and vials for vaccines and pharmaceutical market are estimated to exhibit a CAGR of 7.45% during the forecast period.
A vial can be tubular or have the shape of a bottle with a neck. The pharmaceutical industry uses glass bottles and vials to provide the best container closure integrity (CCI). The vaccines are stored at the correct temperature in the vials. Vaccine vials are used in medical and scientific settings. Vials and flasks are other names for flasks. Due to their increasing use by several end users including hospitals, pharmaceutical companies and others, the demand for glass bottles and vials has increased. Because they are non-reactive, glass vials and vials are becoming more common as they provide extended shelf life and contamination-free storage for the drugs they contain. Glass bottles and flasks are increasingly in demand due to end-user preferences moving away from traditional containers. They are a sustainable material because they are also simply recyclable. Glass vials and bottles make it possible to produce products with more reasonable prices and better quality for consumers.
List of Major Players in Glass Bottles and Vials for Vaccines and Pharmaceuticals Market:
Thermo Fisher Scientific
Cang Zhou four-star Glass Co., Ltd.
Stevanato Group P.IVA
The global demand for glass vials and vials for vaccines and pharmaceuticals is growing rapidly, driven by the pharmaceutical industry. The need for glass bottles and vials for pharmaceuticals and vaccines is increasing, mainly in countries with high population density. The pharmaceutical production in these countries is increased by the growing need for vials, which is also expected to accelerate the expansion of the market. The global demand for glass vials and vaccine vials will increase due to increasingly sophisticated drug complexity due to the spread of diseases and the growing need for parenteral drugs like insulin and corticosteroids, as well as the increasing rate of vaccination.
The primary concern of manufacturers when creating new pharmaceutical vials is the discharge of chemicals onto the inner surface of the glass tube containers. The pharmaceutical vial market will experience a slowdown in growth owing to the rising cost of packaging as a whole. The main reason that could reduce the demand for glass packaging in the pharmaceutical sector and hamper the expansion of the market is the availability of other substitutes.
North American Glass Bottles and Vials for Vaccines and Pharmaceutical Market is expected to register a major market share in terms of revenue and is expected to grow at a high CAGR shortly. Pharmaceutical industry spending is likely to increase in developing markets. The United States is likely to be an important driver and the region’s most crucial need for the expansion of the pharmaceutical sector, with innovative products driving the rise. This expansion should be helped by an increase in generics in the region, which should have supported strong demand in volume and sales. Also, Asia-Pacific held a substantial share of the market. Rising prevalence of chronic diseases, improved healthcare literacy and rising income levels will support the expansion of emerging Asia-Pacific markets. Through increased awareness, governments in the Asia-Pacific region are expanding their coverage of private and public health care. Government initiatives in emerging countries to encourage low-cost generic drugs and lower healthcare spending will likely increase the volume of pharmaceuticals, further supporting the region’s market expansion.
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• In July 2022, Gerresheimer is increasing its glass vial capacities at its site in Wertheim, Germany, as well as at two other sites in China and the United States. The company invests in Wertheim production to increase bottle capacity by 150 million per year. By expanding its production capacity in Wertheim, Gerresheimer contributes, among other things, to improving the supply of glass vials to European vaccine manufacturers.
• In March 2021, Corning Inc. intended to double current glass vial manufacturing targets for COVID vaccines. In 2021, the company planned to create 150 million vials, each containing around 1.2 billion doses of the vaccine. With improved production, there should be less shortage of vials needed to keep COVID-19 vaccines on hand to fight the COVID-19 outbreak.
Segmentation of Glass Bottles and Vials for Vaccines and Pharmaceutical Market-
By product type-
• Less than 30ml
• Between 30ml and 80ml
• More than 80ml
• General medicine
Per end user
• Drug manufacturers
• Diagnostic centers
• United States
• Great Britain
• Rest of Europe
• South Korea
• South East Asia
• Rest of Asia-Pacific
• Rest of Latin America
Middle East and Africa-
• GCC countries
• South Africa
• Rest of the Middle East and Africa
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