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Sharp Revenue Surge Expected in Global RTF/RTU Vials Market During 2021–2030

06-21-2021 05:27 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: P&S Intelligence

Sharp Revenue Surge Expected in Global RTF/RTU Vials Market

The global ready-to-fill or ready-to-use (RTF/RTU) vials market reached a revenue of $306.5 million in 2020, and it is predicted to progress at a CAGR of 14.5% between 2021 and 2030. The market will attain a value of $1,183.4 million by 2030, as per the forecast of P&S Intelligence, a market research company based in India. The market is being driven by the rising requirement for higher operational efficiency among pharmaceutical companies and the mushrooming usage injectable drugs.

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Drug producers across the world are increasingly focusing on streamlining their core operations such as processing and production. This is subsequently pushing up the requirement for RTF/RTU vials, that eliminate various steps such as dehydrogenating and vial sterilization and cleaning. These steps often reduce the operational efficiency of pharmaceutical companies. Hence, nowadays, pharmaceutical firms are preferring finish/fill technologies that guarantee sterility without huge expenditure. Moreover, the usage of RTF/RTU systems massively reduces the chances of processing problems.

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Injectables are highly beneficial for people who are comatose or asleep or cannot consume drugs orally or via other methods that require motor functions. Thus, the mushrooming requirement for injectable drugs is fueling the demand for vials such as RTF/RTU vials, as these devices are majorly used for administering drugs. Depending on packaging type, the RTF/RTU vials market is divided into tray and nest & tub categories. Between these, the nest & tub category dominated the market in 2020.

Apart from the aforementioned factors, the existence of several RTF/RTU vial manufacturing companies in the region such as Stevanato Group, Schott AG, SGD S.A., and Gerresheimer AG is also propelling the advancement of the RTF/RTU vials market in the region. in addition to this, the growing demand for COVID-19 vaccines is also pushing up the requirement for RTF/RTU vials, as these vials are used for packaging the vaccines in the region.

About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

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