Press release
Vials Market expand at a value of US$ 10.8 Bn from 2022 to 2029
Transparency Market Research delivers key insights for the vials market in its published report, which include global industry analysis, size, share, growth, trends, and forecast for 2015-2029. In terms of revenue, the global vials market is projected to grow at a CAGR of 5.4% during the forecast period, owing to several factors, about which TMR offers detailed insights and forecasts in the vials market report.Get a Complete Report Details - https://www.transparencymarketresearch.com/vials-market.html
Vials are packaging containers used to store and dispense the medicine in solid, powder or liquid dosage form with high convenience, safety, and for monitoring purpose. The ability of vials to store respective material without contaminating it makes vials efficient and popular. The frequent need of vials in end user base such as healthcare, personal care, and chemicals to store various products without degrading the quality is boosting the global vials market.
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Rapidly Growing Medical, Healthcare, and Medical Support Service Industries to Generate Substantial Opportunities for Vial Manufacturers and Suppliers
Vials are commonly associated with the medical industry, as they prevent dosing errors and offer efficiency & correctness while considering the patient's safety and health. Glass vials are preferred as they support container closure integrity (CCI), while plastic vials are unbreakable and easy to handle. Vials are used for swabs, specimen collection, biopsies, and fluid specimens. The increasing awareness about healthcare and the growing demand for diagnostic centers & medical support services contribute remarkably to the growth of the vials market. Factors such as growing population, rapidly increasing healthcare facilities, and rising trend of health check-ups due to the increasing prevalence of illnesses will enhance the demand for vials.
Vials are extensively used in medical laboratories and diagnostic centers for specimen collections. Therefore, the increasing demand for medical packaging solutions to store sensitive drugs and general laboratory applications is creating noteworthy opportunities for manufacturers and suppliers to capture major share of the vials market in the near future.
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Vials Market: Competition Landscape
Key players in the global vials market are focusing on strategies such as innovative product launch, expansions, partnerships, and acquisitions to capture maximum market share and enhance their global footprint in the target market. For instance:
In October 2022, Gerresheimer AG launched its new depyrogenated and sterile Gx RTF vials
In May 2022, Corning Incorporated announced the opening of its new glass plant in Wuhan, China, to build its presence in China
In January 2022, Gerresheimer AG built a new production plant in India. The company is concentrating on the production of pharmaceutical packaging made from tubular glass, molded glass, and plastic.
In February 2020, West Pharmaceutical Services, Inc. introduced several new, innovative pharmaceutical containment, and closure offerings at Pharmapack 2020
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The tier structure is formulated on the basis of segmental revenue and market share of the company. As per tier structure, Gerresheimer AG, West Pharmaceutical Services, Inc, and Berry Global, Inc. are Tier 1 players in the vials market. These leading companies are adopting key strategies such as innovative product launch, expansion, partnerships to strengthen their position in the vials market. Moreover, Tier 2 players are Amcor Plc, Corning Incorporated, and Schott AG, among others.
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