Vials primary packaging: Key market research findings
- North America dominates the market geographically
- Plastic packaging is the fastest-growing segment of the market
- Key vendors – Corning, Gerresheimer, O.Berkm, Schott, and Thermo Fisher
Technavio’s market research analysts predict the global vials primary packaging market to grow at a CAGR of around 12% between 2016 and 2020. The growth in the market is augmented by the requirement to comply with stringent governmental regulations and standards. Government regulations in developed countries like Japan and European countries demand greater barrier and security protection of medical supplies and devices. Furthermore, for the supply of medical products produced nationally to the domestic and international markets, the governments in developing countries like China and India have upgraded their industry standards for vial packaging to maintain quality, safety, and reduce breakage, spillage, and contamination. By 2020, North America will continue its dominance over the global vials primary packaging market with a market share of more than 33%. The increased occurrence of diseases and the resultant need for preservation of the medical solutions is expected to drive growth in the vials primary packaging market in North America during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the vials primary packaging segments based on the type of material.
“Vendors in the market are leveraging technological advancements to create innovative packaging solutions such as high-tech glass and biodegradable plastics. The technology adoption starts from the manufacturing process to the selection of compounds used in better grade glass to suit customer requirements. This may include incorporation of design upheavals, the creation of resistant quality packaging material, and boosting the transparency of the medicine packed inside,” says Sharan Raj, Lead Analyst, Transportation & Logistics, Technavio Research.
The market is expected to witness a rapid upsurge in the demand for plastic vial packaging during the forecast period. Advantages such as lightweight, cost-effective nature, and easy availability of raw materials are factors driving the rise in demand for plastic packaging. This segment of the market can be further classified into polyvinyl chloride (PVC), polypropylene, and polyethylene terephthalate (PET). Furthermore, plastic is comparatively easy to mold and can be used in innovative packaging for cosmetic care medical solutions.
The key vendors in the global vials primary packaging market include Corning, Gerresheimer, O.Berkm, Schott, and Thermo Fisher. This market is characterized by the presence of well-diversified global and regional vendors. The competitive environment in this market is likely to intensify in the coming years with an increase in product extensions, and innovations in technology. The established vendors are increasing their production capacities by investing in new production facilities that produce pharmaceutical packaging like vials and ampoules.
A more detailed analysis is available in the Technavio report, Global Vials Primary Packaging Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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