The global ampoules and vials market is expected to grow at a CAGR of 5.51% over the forecast period. The market growth for these storage solutions is majorly being driven by the robust growth of the healthcare and pharmaceutical industry in many regions across the globe. The increasing global population, and changing lifestyles of people, are together shaping the burden of diseases on many governments. As societies in the east continue to get influenced by the cultures of the west, uptake of unhealthy lifestyles by people is increasing. The growing geriatric population in many countries is also adding to the burden of diseases on many governments. As the incidence and prevalence of diseases continue to increase, demand for drugs is also increasing. Since many drugs are very sensitive to changes in environmental conditions, they need to be stored in specialized containers which can protect their integrity and characteristics. This is increasing 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 for efficient storage of drugs. Vials and ampoules allow easier storage of liquids and powders as compared to bigger bottles or containers. This has been contributing significantly to the growing demand for these containers, thus boosting their market growth. Apart from this, vials have been finding considerable applications in the cosmetics sector. Perfume vials have been in 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 with it 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 the growth of perfume manufacturing remains good, the sales of vials will also continue to grow, thus contributing to the market growth.
The outbreak of the novel coronavirus disease in Wuhan, China, and its getting declared a pandemic by the World Health Organization, has also been shaping the market growth significantly. As the number of patients confirmed positive with the novel coronavirus disease continues to soar, drug makers are pumping huge investments into research and development in order to find a cure to this disease. In this race to develop a reliable vaccine, drugmakers are fast-tracking 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 a nod from the regulatory bodies. This continuous flow of investments into drug development is increasing the demand for ampoules and vials, thus propelling the market growth.
Geographically, the global ampoules and vials market has been segmented into North America, South America, Europe, 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 that account for a considerable market share. North America and Europe together account for a significant share in the overall market. The market growth in these regions is majorly attributed to the presence of 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 that has been contributing to the growing sales of ampoules and vials across them. The Asia Pacific also accounts for a significant share in this market. The rapid growth of the pharmaceutical manufacturing sector in this region, on account of the easy availability of resources and the presence of a favorable business environment in many countries, has been contributing to the surging demand for ampoules and vials in many countries. The Middle East and Africa have been witnessing a good growth of perfume manufacturing across many countries in the region. The use of vials for storing perfume samples is contributing 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. The lower cost of manufacturing in this region, as compared to that in the U.S. and many other developed economies, 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 in 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 among others. These companies hold a noteworthy share in the market on account of their good brand image and product offerings. Major players in the ampoules and vials market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last two years.
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.