DUBAI, U.A.E, Sept. 22, 2021 /PRNewswire/ -- As per a recent market analysis by Future Market Insights, (FMI), the global plastic vials and ampoules market is projected to expand at a 6.1% CAGR during the forecast period.
With high demand from the healthcare and personal care sectors, the market is projected to reach US$ 2.9 Bn in 2021, growing at a 5.5% CAGR in terms of volume. Increasing vaccine production across the globe is spurring demand for plastic vials and ampoules. Owing to this, the global consumption is projected to top 7.1 Bn units in 2021.
Applications of plastic vials and ampoules are not limited to hospitals, the personal care & cosmetics, chemical, and homecare products industries are actively adopting plastic vials and ampoules for retailing and storing products. Increasing demand from these sectors is propelling sales of plastic vials and ampoules, and the trend is projected to continue over the forecast period.
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However, the bulk of demand is registered in the packaging industry owing to the increasing demand for effective packaging solutions for sterile liquids. In addition to this, plastic vials and ampoules are used for packing solid and liquid medications such as tablets, capsules, powders, and antibiotic sterile solutions.
Plastic vials and ampoules make unit dosing and measured dosing more convenient. In comparison to glass vials, plastic vials have lesser chances of breakage, leakage, and glass leaching. Various advantages of plastic vials and ampoules over glass variants are propelling their applications in the healthcare and chemical sector. This is indicative of lucrative growth prospects likely in the global plastic vials and ampoules market in the forthcoming years.
As per FMI, the U.S. is projected to dominate the North America plastic vials and ampoules market. Growth in the U.S. can be attributed to the increasing plastic production, along with growing demand for convenient and lightweight packaging solutions in the pharmaceutical and personal care industries.
"Demand for high-grade plastic vials from the chemical industry for research and development activities will continue creating opportunities for sales of plastic vials and ampoules in the forthcoming years. Besides this, product innovations and customized solutions offered by market players will aid market growth over the forecast period," says the FMI analyst.
- Based on material type, polyethylene plastic vials and ampoules are projected to hold approximately 30% of the total plastic vials and ampoules market share.
- The healthcare segment and the personal care & cosmetics segment are anticipated to lead the end-use applications category. These segments are estimated to hold 40% and 30% of the total market share respectively.
- The U.S. is estimated to dominate the North American plastic vials and ampoules market, holding 80% of the market share through 2031.
- China is projected to create a total incremental opportunity of US$ 386 Mn in the East Asian plastic vials and ampoules market.
- In the South Asian plastic vials and ampoules, India is projected to hold 40-45% of the market share over the forecast period.
- Expansion of the packaging industry and demand for lightweight packaging solutions will continue boosting sales of plastic vials and ampoules.
- Growing awareness regarding contamination-free dosing in the healthcare and pharmaceutical sector is anticipated to propel sales of plastic vials and ampoules.
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Key players operating in the global plastic vials and ampoules market are investing in research and development activities to launch innovative products, catering to the 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 instance:
- In April 2021, Glassomer GmbH launched a glass-like plastic material that allows scientists to mold vaccine vials, sinuous channels for lab chemistry procedures, and other complex shapes.
- In January 2021, Gerresheimer expanded its production facility by adding a new manufacturing plant for plastic containers in India. The company is aiming to expand its production of pharmaceutical primary packaging made of molded tubular glass and plastic at the new Kosamba plant near Mumbai.
Leading players operating in Plastic Vials and Ampoules Market profiled by FMI include:
- Berry Global Inc.
- West Pharmaceutical Services, Inc.
- Pacific Vial Manufacturing Inc.
- Aptar Group Inc.
- Catalent Inc.
- SiO2 Material Science
- Shandong Pharmaceutical Glass Co., Ltd.
- Tonbay Industry Co., Ltd.
- LA Packaging
- Thornton Plastics
- Gerresheimer AG
- Adelphi Healthcare Packaging
- Schott AG
- DWK Life Sciences GmbH
- Amcor Plc
- SGD Pharma
- Stevanato Group
- Origin Pharma Packaging
- Bormioli Pharma S.p.A.
- Nurrin pharmalab pty ltd
More Insights on FMI's Plastic vials and Ampoules Market
The latest market study on the plastic vials and ampoules market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global plastic vials and ampoules market potential, its growth, trends, and opportunities, the market is segmented on the basis of:
- Polyvinyl Chloride
- Up to 2 ml
- 3 ml to 5 ml
- 5 ml to 7 ml
- 8 ml and above
- Research Laboratories
- Drug Manufacturing
- Hospitals and Clinical Research
- Personal Care & Cosmetics
- Chemical Industry
- Homecare Products
- North America
- Latin America
- Middle East and Africa (MEA)
- East Asia
- South Asia
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Key Questions Covered in Plastic Vials and Ampoules Market Report
- The report offers detailed insights into plastic vials and ampoules market demand outlook for 2021-2031
- The market study also highlights projected sales growth for plastic vials and ampoules market between 2021 and 2031
- Plastic vials and ampoules market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Plastic vials and ampoules market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S., and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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