The Global Ampoules and Vials Market is expected to grow at a CAGR of 5.90% over the forecasted period of 2020-2027.
The market growth for these storage solutions is driven by the robust growth of the healthcare and pharmaceutical industries y in many regions across the globe. The increasing global population, and the changing lifestyles of people, are together shaping the burden of diseases on many governments. As societies in the east continue to be influenced by the West's cultures, the uptake of unhealthy lifestyles by people is increasing. The growing geriatric population in many countries also adds to the burden of diseases on many governments. As the incidence and prevalence of diseases continue to increase, the demand for drugs increases. Since many drugs are very sensitive to changes in environmental conditions, they need to be stored in specialized containers that can protect their integrity and characteristics. This increases the demand for ampoules and vials, thus propelling the market growth. Demand for these containers is also being driven by the increasing need among drug manufacturers and healthcare providers to store drugs efficiently. Vials and ampoules allow easier storage of liquids and powders than bigger bottles or containers. This has contributed significantly to the growing demand for these containers, thus boosting their market growth. Apart from this, vials have found numerous applications in the cosmetics sector. Perfume vials have been in style trend for a fairly long time, and these continue to hold significant traction among end-users. Growing manufacturing of fragrances in many countries is driving the sales of vials in those countries since vials remain the preferred storage solution for fragrance samples because they ensure the integrity of samples while also making storage more efficient. As long as the growth of perfume manufacturing remains strong good, the sales of vials will also continue to grow, thus contributing to the market growth.
COVID-19 Impact on the Ampoules and Vial Market Globally
The outbreak of the novel coronavirus disease in Wuhan, China, and being declared a pandemic by the World Health Organization has also significantly shaped the market growth. As the number of patients confirmed positive for the novel coronavirus disease continues to soar, drug makers are pumping huge amounts of money into research and development to find a cure for this disease. In this race to develop a reliable vaccine, drugmakers fast-tracked clinical trials. Furthermore, millions of doses are being manufactured by such companies as part of their plan to make their vaccine available to people as soon as they get the nod from the regulatory bodies. This continuous flow of investments into drug development increases the demand for ampoules and vials, thus propelling market growth.
The COVID-19 disease outbreak has increased the global requirement for vials and ampoules. The large-scale production of the COVID-19 vaccine in various countries worldwide has had a substantial impact on the market situation. Various governments have set a goal of vaccinating the majority of their populations by 2021. Makers of vials and ampoules are increasing their manufacturing capacity by orders of magnitude. Several vial and ampoule manufacturers, including Schott Kaisha and Gerresheimer India, are expanding their capacity. Companies are working on hybrid plastic and glass vials and ampoules that are durable and inexpensive. Such market-player advancements are had boosted the product demand in the global market over the forecasted period.
The global ampoules and vials market has been divided into five regions: North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. The global ampoules and vials market has been segmented into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. To give a clearer view of the market, these regional markets have been further segmented into countries with a considerable market share. North America and Europe together account for a significant share of the overall market. The market growth in these regions is majorly attributed to state-of-the-art research infrastructure across them. The presence of this infrastructure has been a major factor that has been accelerating the growth across sectors like pharmaceuticals and cosmetics. The presence of a good number of market players in these regions is another major factor contributing to the growing sales of ampoules and vials across them. The Asia Pacific also accounts for a significant share of this market. The rapid growth of the pharmaceutical manufacturing sector in this region, on account of the easy availability of resources and a favorable business environment in many countries, has contributed to the surging demand for ampoules and vials in many countries. The Middle East and Africa have been witnessing good growth in perfume manufacturing across many countries in the region. The use of vials for storing perfume samples contributes to the sales of these storage solutions among end-users, thus propelling the market growth. Decent market growth is expected in South America over the projected period. Compared to that in the U.S. and many other developed economies, the lower cost of manufacturing in this region continues to attract investments from pharmaceutical manufacturers in this region. Since sales of ampoules and vials are closely tied to the growth of pharmaceutical manufacturing, this region is expected to continue accounting for a considerable share of the overall market throughout the projected period.
Prominent key market players in the global ampoules and vials market include SCHOTT AG, Nipro, Thermo Fisher Scientific Inc., SGD Pharma, and DWK Life Sciences GmbH. These companies hold a significant share of the market because of their good brand image and product offerings. Major players in the ampoules and vials market have been covered with their relative competitive positions and strategies. The report also mentions recent deals and investments of different market players over the last two years.
Serum Institute of India, a Pune-based production partner of AstraZeneca, had produced 1 billion doses of the Oxford coronavirus vaccine, the vaccine named 'Covishield' in India.
Bharat Biotech International Limited and ICMR made the indigenous vaccine Covaxin. The drug was created by Ahmedabad-based Bharat Biotech in partnerships with the Indian Council of Medical Research and the National Institute of Virology.
Sputnik V or Gam-COVID-Vac, the name it is legally registered and produced, is a COVID-19 adenovirus viral vector vaccine created by the Gamaleya Research Institute of Epidemiology and Microbiology in Russia. It is the world's first registered mixture vector vaccine for the mitigation of COVID-19, having been approved by the Russian Ministry of Health.
Frequently Asked Questions (FAQs)
Q1. What are the growth prospects for the ampoules and vials market?
A1. The global ampoules and vials market is expected to grow at a CAGR of 5.51% over the forecast period.
Q2. Who are the major players in the ampoules and vials market?
A2. Prominent key market players in the global ampoules and vials market include SCHOTT AG, Nipro, Thermo Fisher Scientific Inc., SGD Pharma, and DWK Life Sciences GmbH among others.
Q3. How is the global ampoules and vials market segmented?
A3. The ampoules and vials market has been segmented by material, application, and geography.
Q4. What factors are anticipated to drive the ampoules and vials market growth?
A4. The ampoules and vials market growth is majorly being driven by the robust growth of the healthcare and pharmaceutical industry in many regions across the globe.
Q5. Which region holds the largest market share in the ampoules and vials market?
A5. North America and Europe together account for a significant share in the ampoules and vials market owing to the presence of state-of-the-art research infrastructure across them.
Thermo Fisher Scientific Inc.
DWK Life Sciences GmbH
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