Pharmaceutical Vials Market to Witness Increase in Revenues by 2026

Pharmaceutical vials are a type of small containers that are used for the purpose of storing liquid medications. They are made up of plastic or glass and are mainly used for unit dose packaging of medications. Pharmaceutical vials also help patients in consuming their medications in the right dosage and at the right time.

Ever since the last few decades, due to low medical adherence by patients, has posed a critical situation for the healthcare industry as it involves safety of the patients and causes increased healthcare spending. To solve these issues, the healthcare industry is making constant efforts to improve the intake of medications by patients and ensure that the patients take the right dosage of drugs at the right time. In this process, packaging of drugs and various medicines plays an important part.

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Particularly in the United States, it has been reported that around 50 percent of the prescribed medications are taken incorrectly by patients. In addition, in an independent study, it was found out that since patients don’t take their medications in the right manner, there are increased medical costs to the tune of US$ 200 billion. Due to this situation, there is a demand created for such kind of pharmaceutical products that contain medications in such form that can be easily taken by the patients. This helps the patients to take the right dosage of medicines at the correct time, thus reducing their time of recovery and reducing the burden on the healthcare system as well.

Future Market Insights has come up with a comprehensive report that covers all the features related to the global pharmaceutical vials market. Such features contain important market information on the drivers, trends, restraints and opportunities that influence the growth of this market. These factors are assessed across the important regions of the world which cover all the important global pharmaceutical vials market in detail.

The report also contains the historical analysis from the period 2012 to 2016 and the projections from a time period of nine years starting from the year 2017 till the year 2026. As per the projections of Future Market Insights, the global pharmaceutical vials market is projected to possess a moderate CAGR. In the year 2017, the global pharmaceutical vials market is estimated to be valued at nearly US$ 10,100 Mn and is expected to touch a value of nearly US$ 15,400 Mn by the end of the year 2026.

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Plastics sub-segment to dominate the material type category in the global pharmaceutical vials market

The plastic sub-segment in the material type category is anticipated to grow at a robust growth rate and register a CAGR of 5.1% during the period of assessment. This is a highly lucrative segment in the material type category. As per the projections of Future Market Insights, the plastic sub-segment is estimated to touch a value of nearly US$ 7,700 Mn at the end of the year 2017 and is expected to touch a value of nearly US$ 12,000 Mn at the end of the year 2026.

Glass sub-segment to trail heavily the plastic sub-segment in the material type category of the global pharmaceutical vials market

The glass sub-segment is heavily trailing the plastic sub-segment in the material type category, and is projected to register a CAGR of 3.8% during the period of assessment. The glass sub-segment is estimated to be valued at nearly US$ 2,450 Mn in the year 2017 and is expected to touch a value of nearly US$ 3,400 Mn at the end of the period of assessment in the year 2026.

Competitive Landscape

The report on global pharmaceutical vials market contains in it key information regarding the important players functional in this market such as Schott AG, Gerreshemier AG, West Pharmaceutical Services, Inc., O.BERK COMPANY, LLC, Adelphi Healthcare Packaging, Pacific Vial Manufacturing Inc., Piramal Glass, SGD SA, Stevanato Group S.p.a and Nipro Europe.

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This release was published on openPR.