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Prefilled Formalin Vials Market Opportunity Assessment 2018-2028 | Diapath S.p.A, Histo- Line Laboratories Srl, Cardinal Health

01-10-2019 04:32 PM CET | Health & Medicine

Press release from: Future Market Insights

Prefilled Formalin Vials Market Opportunity Assessment

Significant Revenue Contribution of Leading Manufacturers in the Prefilled Formalin Vials Market

The prefilled formalin vials market is largely dominated by local manufactures who are competing on the basis of pricing. The fragmented nature of the prefilled formalin vials market decreases the profitability of the business. However, growing import and export of prefilled formalin vials and containers in countries such as the U.S., France, Netherlands, the U.K., China and Russia is projected to boost the growth of the global prefilled formalin vials market for different prefilled formalin products manufactured by local companies. This has increased the opportunities for global manufacturers in the prefilled formalin vials market. Companies, such as Cardinal Health, Leica Microsystems Sales GmbH, Carl Roth GmbH & Company KG, and Azer Scientific, Inc. hold more than 30% revenue share in the global prefilled formalin vials market. These companies are continuously making efforts to launch novel product lines to be used for cancer diagnostics and in forensics. Further, companies operating in prefilled formalin vials market are collaborating with local distributors/retailers to increase the penetration of their products in the prefilled formalin vials market.

Increased Preference for 90 – 500 mL Prefilled Formalin Containers from Contract Research Organizations

The 90 – 500 mL prefilled formalin vials are gaining popularity in the U.S. market. Growing incidence of cancer especially due to longer exposure to formalin at hospitals and laboratories have increased the demand for prefilled formalin vials, which limit the formalin levels. Moreover, ease of formalin usage as tissue fixative in cancer diagnostic in histopathology and ready availability of prefilled formalin vials through traditional supply chains are leading to strong adoption of prefilled formalin vials among end users. In the medical ambulatories including ambulatory surgical centres where small biopsies are performed, the problems associated with formalin usage is solved primarily by using prefilled formalin vials or tubes. Varied applications of prefilled formalin vials in healthcare industry and availability of prefilled formalin vials of different volume capacities at cheap prices is expected to lead to promising growth of the prefilled formalin vials market. Usage of ready-to-use prefilled formalin vials over the new upgraded commercial alternatives - new formalin-free fixatives also reduce the indirect cost associated with conventional laboratory-based histopathological diagnosis.

High Risk of Occupational Exposure to Formalin is Increasing Cancer Incidence across North America

Exposure of anatomists, biologists, histology technicians, botanists, medical personnel and disinfectant makers to formalin in the healthcare industry is the most common type of occupational exposure in the U.S. As per the World Health Organization (WHO), the trend of occupational exposure occurs in all workplaces in the U.S. and Europe, thus becoming the major cause of cancer and other acute diseases. Increase in the number of prefilled formalin vials in the market in order to overcome this alarming situation of occupational exposure has led to growing commercial availability of low price prefilled formalin vials and containers. Moreover, ready availability of prefilled formalin vials in different volume ranges including 90 – 500 mL vial types and 40 – 60 mL prefilled formalin vials in highest demand is also pushing other key players to be a part of the prefilled formalin vials market.

Increasing Discretionary Funding for Cancer Research

The prefilled formalin vials manufacturers are offering their products to end-use facilities through retail and distribution channels. The vertical integration strategy of such manufacturers in prefilled formalin vials market has given them a competitive edge over standard prefilled formalin vials manufacturers. Also, governments in developed countries such as the U.S. provide funds for cancer research to aid in diagnosis and treatment. Clinical trials are also funded by governments to support companies in developing effective diagnostic tests for cancer. In April 2016, the U.S. Government allocated US$ 5.2 Bn for the National Cancer Institute (NCI)—a Federal Government agency—for cancer research and training. The budget for cancer research increased by 5.3% in comparison to the last year. Clinical trials on cancer patients requiring repetitive diagnosis has been conducted by NCI in order to check cancer prognosis. Formalin finds major application in cancer research as it is used as tissue fixative to preserve biopsy samples. Thus with the increased funding in cancer research, an upsurge in the demand for prefilled formalin vials is registered in prefilled formalin vials market across globe.

Growing Impact of Cancer Awareness Programs by Governments

Government initiatives to enhance availability of cancer diagnosis and treatment is expected to fuel the growth of prefilled formalin vials market over the forecast period

On January 20, 2016, the U.S. government announced establishment of Cancer Moonshot to accelerate cancer research in the U.S. The initiative aimed to make more therapies available to the patients to improve and detect cancer at early stage, thereby increasing demand for prefilled formalin vials, elevating revenue in prefilled formalin vials market.

Cancer Prevention and Control Research Network (CPCRN)—a national network that supports cancer research and related studies—supports Screen for Life: National Colorectal Cancer Action Campaign and scientific studies to determine restraints of colorectal screening and also provides funding to state programs to implement specific colorectal cancer strategies.

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Competitive Landscape

The competition section of the prefilled formalin vials market features profiles of key players operating in the market based on their shares, differential strategies, product offerings, marketing approach and company dashboard. Examples of some of the key players operating in the prefilled formalin vials market include Diapath S.p.A, Histo- Line Laboratories Srl, Cardinal Health, Inc., Leica Microsystems Sales GmbH (Leica Biosystems Nussloch GmbH), Genta Environmental Ltd., Carl Roth GmbH + Co. KG, Magnacol Ltd., Serosep Limited, Ultident Scientific and Solmedia Limited.

Cardinal Health, Inc. offers a range of products for prefilled formalin vials in different vial sizes, which include Prefilled Formalin Vials - FormClick™,  Half-filled one-click containers, Half-filled double-click containers and Half-filled formalin containers with or without seal. These prefilled formalin vials are preferred for cancer diagnostic in diagnostic laboratories, emergency medical services and other end users. These prefilled formalin vials are available in different vial packaging volume including 32 vials per pack, 50 vials per pack, 100 vials per pack and others.

The key manufacturers of prefilled formalin vials are focusing on novel marketing strategies to increase product penetration in prefilled formalin vials market. The companies offering different package size of prefilled formalin vials are concentrating on price floor strategies. These companies offer their prefilled formalin vials with lucrative discounts across different countries. Established distribution channels, such as distributors, retailers and wholesalers, are expected to be the key targets channel for local manufacturers in prefilled formalin vials market.

Definition

Methanal (formaldehyde) is commonly used as an aqueous solution, which contains 37% (w/w) methanal, known as formalin. It is usually added with small volume of methanol along with an inhibitor in order to prevent formation of long chain polymers when stored, thereby finding major application as preservative and fixative agent.

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About the Report

FMI conducted a research study on prefilled formalin vials market for the forecast period 2018 to 2028. The prefilled formalin vials market report offers a comprehensive evaluation of the business opportunities prevailing in the prefilled formalin vials market along with insights on the prefilled formalin vials consumption trend, disease incidences, and awareness level for cancer diagnostic and prefilled formalin vials market competition. The report elaborates on the macroeconomic factors influencing the dynamics of prefilled formalin vials market and its futuristic potential.

Segmentation

The report offers a comprehensive taxonomy of prefilled formalin vials market based on product type, end user and region. The prefilled formalin vials are sold for various types of volume ranges, such as

About Us

Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India.

FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.

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