More than US $ 2.9 billion opportunity will be created by 2021 as the plastic vials and ampoules market regains its pre-pandemic growth status: future market outlook
DUBAI, United Arab Emirates, September 22, 2021 / PRNewswire / – According to a recent market analysis by Future Market Insights (IMF), the plastic vials and ampoules market is expected to increase at a CAGR of 6.1% during the forecast period.
With strong demand from the healthcare and personal care industries, the market is expected to reach US $ 2.9 billion in 2021, growing at a CAGR of 5.5% in terms of volume. The increase in vaccine production around the world is driving the demand for plastic vials and ampoules. As a result, global consumption is expected to exceed 7.1 billion units in 2021.
Applications of plastic vials and ampoules are not limited to hospitals, personal care and cosmetics, chemical and home care products industries are actively adopting plastic vials and ampoules for retail and product storage. Growing demand from these sectors is propelling the sales of plastic vials and ampoules, and the trend is expected to continue during the forecast period.
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However, the bulk of the demand is registered in the packaging industry due to the increasing demand for effective packaging solutions for sterile liquids. In addition to this, plastic vials and ampoules are used to package solid and liquid drugs such as tablets, capsules, powders, and sterile antibiotic solutions.
Plastic vials and ampoules make unit dosage and metered dosage more convenient. Compared to glass vials, plastic vials have less chance of breaking, leaking and leaching from the glass. Various advantages of plastic vials and ampoules over glass variants propel their applications in the health and chemical industries. This indicates probable lucrative growth prospects in the global plastic vials and ampoules market in the coming years.
According to the IMF, the United States should dominate the North America plastic vials and ampoules market. The growth in the United States can be attributed to the increase in plastic production, as well as the growing demand for convenient and lightweight packaging solutions in the pharmaceutical and personal care industries.
âThe demand for high quality plastic vials from the chemical industry for research and development activities will continue to create sales opportunities for plastic vials and ampoules in the years to come. the forecast period, âexplains the IMF analyst.
Key points to remember:
- Depending on the type of material, polyethylene plastic vials and ampoules are expected to hold around 30% of the total plastic vials and ampoules market share.
- The healthcare segment and the personal care and cosmetics segment are expected to dominate the end-use application category. These segments are estimated to hold 40% and 30% of the total market share, respectively.
- The United States is estimated to dominate the North American market for plastic vials and ampoules, holding an 80% market share through 2031.
- China should create a total additional opportunity to 386 million US dollars in the East Asian plastic vials and ampoules market.
- In South Asian plastic vials and ampoules, India is expected to hold 40-45% market share during the forecast period.
- The expansion of the packaging industry and the demand for lightweight packaging solutions will continue to drive sales of plastic vials and ampoules.
- Growing awareness of contamination-free dosing in the healthcare and pharmaceutical industries is expected to propel sales of plastic vials and ampoules.
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Major players operating in the global plastic vials and ampoules market are investing in research and development activities to launch innovative products, meeting increasing demand from various end-use sectors. In addition to this, mergers, acquisitions and strategic collaborations are other strategies adopted by market players to expand their global presence. For example:
- In April 2021, Glassomer GmbH has launched a glass-like plastic material that allows scientists to mold vaccine vials, winding channels for laboratory chemistry procedures, and other complex shapes.
- In January 2021, Gerresheimer expanded its production facility by adding a new plastic container manufacturing facility to India. The company aims to expand its production of molded tubular glass and plastic primary pharmaceutical packaging at the new Kosamba plant near Bombay.
The major players operating in the Plastic Vials and Ampoules market presented by FMI are:
- Berry Global Inc.
- Western Pharmaceutical Services, Inc.
- Pacific Bottle Manufacturing Inc.
- Aptar Group Inc.
- Catalent Inc.
- SiO2 Materials Science
- Shandong Pharmaceutical Glass Co., Ltd.
- Tonbay Industry Co., Ltd.
- LA packaging
- Thornton Plastics
- Gerresheimer AG
- Adelphi Healthcare Packaging
- Schott SA
- DWK Life Sciences GmbH
- Amcor Plc
- SGD Pharma
- Stevanato Group
- Pharmaceutical packaging
- Bormioli Pharma SpA
- Nurrin pharmalab pty ltd
More information on FMI’s plastic vials and ampoules market
The latest market research on Plastic Vials and Ampoules Market by Future Market Insights gives detailed segmentation for the forecast period 2021-2031. In order to get a better perspective on the global plastic vials and ampoules market potential, growth, trends and opportunities, the market is segmented on the basis of:
- Polyvinyl chloride
- COC / COP
Type of product:
- Up to 2 ml
- 3 ml to 5 ml
- 5 ml to 7 ml
- 8 ml and more
End use applications:
- Health care
- Research laboratories
- Drug manufacturing
- Hospitals and clinical research
- Personal care and cosmetics
- Chemical industry
- Care products
- North America
- Latin America
- Middle East and Africa (AEM)
- East Asia
- South Asia
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Key Questions Answered in the Plastic Vials and Ampoules Market Report
- The report offers in-depth information about the demand outlook of the Plastic Vials and Ampoules market for 2021-2031
- The market study also highlights the expected sales growth for the Plastic Vials and Ampoules market between 2021 and 2031.
- The Plastic Vials and Ampoules market research identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluating the current market size and forecast and technological advancement within the industry
- Analysis of the plastic vials and ampoules market share of key companies in the industry and coverage of strategies such as mergers and acquisitions, joint ventures, collaborations or partnerships, etc.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of business information and advisory services, serving clients in more than 150 countries. IMF has its seat at Dubai, and has delivery centers in UK, US and India. IMF’s latest market research and industry analysis reports help companies tackle challenges and make critical decisions with confidence and clarity amid fierce competition. Our personalized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of analysts led by FMI experts continually monitors emerging trends and events across a wide range of industries to ensure our clients are preparing for the changing needs of their consumers.
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