Global Vaccine Vial Market is Expected to Grow at a CAGR of10.5% from 2021 to 2028
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The global vaccine vial market size is estimated at 900.13 USD billion by 2028 and is anticipated to grow at a CAGR of 10.5 % during the projected time frame (2021-2028). Due to rapid increasing in COVID-19 cases, the vaccine vial market is undergoing shortage in supply. The shortage in vaccine vial supply can hinder the market growth during the forecast period. Healthcare infrastructures in developing countries are not fully developed, which causing serious challenges to market due to unaffordability of advanced healthcare technology.
Vaccine vial is a small bottle used to store vaccines, capsules, liquids, or other medications. They are made of glass or plastic and stored under specific temperatures. Vials are also known as flacons or phials. The major factor driving the vaccine vial market is the coronavirus pandemic and increasing number of COVID-19 cases. Increasing awareness about the pandemic and growing immunization are expected to contribute to market growth.
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Due to rapid increasing in COVID-19 cases, the vaccine vial market is undergoing shortage in supply. The shortage in vaccine vial supply can hinder the market growth during the forecast period. Healthcare infrastructures in developing countries are not fully developed, which causing serious challenges to market due to unaffordability of advanced healthcare technology. Government and companies are making hefty investments worth millions of dollars to support the manufacturing of vaccine vials to meet the increasing demand, which is expected to create market growth opportunities during the forecast period.
The COVID-19 pandemic has affected the supply chain and production of various industries including the vaccine vial market. Increases COVID-19 patients and shortage of vaccine vials has severely impacted the market. However, government initiatives to enhance the vial production is expected to have a positive impact on market growth. Vial manufacturing companies have increased their production capacities by 10% to meet the increasing demand. All these factors are expected to augment the market growth during the forecast period.
Market Segmentation of Vaccine Vial Market
Product Type of Vaccine Vial Market
By product type, the market is classified into molded glass vial and tubular glass vial. The tubular glass vial segment is expected to dominate the market during the forecast period. The segment growth can be attributed to lightweightedness, superior fill-level consistency, clarity facilitated vision inspection, and customized packaging. Tubular glass vials are used to store vaccines, injection powder, penicillin, and lyophilized powder. They are used as automatic inspection system to control appearance and tolerance.
Material Analysis of Vaccine Vial Market
By material, the market is classified into glass and polymer. The glass segment is expected to hold highest market share. The segment growth can be because glass has enhanced visibility, impermeability, and thermal stability. It also prevents the product from contamination due to oxygen, moisture, and chemical as it has barrier and chemical resistance properties. It retains its shape even at temperatures as high as 500°C and even at 0°C. These factors are expected to contribute to glass vial segment during the forecast period.
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Application of Vaccine Vial Market
By application, the market is classified into preventive vaccine and therapeutic vaccine. The therapeutic vaccine segment is expected to observe fastest growth during the forecast period. Therapeutic vaccines are used to treat viral infections and cancers. The coronavirus pandemic and increasing prevalence of cancer are expected to drive segment growth.
Capacity of Vaccine Vial Market
By capacity, the market is classified into 2 ml, 3 ml, 5 ml, 10 ml, and 20 ml. The 10 ml segment is expected to dominate the market during the forecast period. The segment growth can be attribute to increasing use of single dose vaccines in treating various disorders.
Regional Analysis of Vaccine Vial Market
By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and South America. Asia Pacific is expected to be the fastest growing market during the forecast period. The regional growth can be due to increasing population and increasing prevalence of diseases. Increasing demand for vaccines and presence of developed pharmaceutical and healthcare companies are expected to contribute to regional market growth.
- In July 2021, ZandCell signed various contracts with number of governments in South America, Asia, and Africato manufacture the Russian vaccines vials for distributing worldwide. The aim was to manufacture and sale of 160 million COVID-19 doses in less developed countries.
- In April 2021,The US Food and Drug Administration (FDA) approved new vials from Moderna, that can contain up till 15 doses each as compared to original vials designed to hold 10 doses. Providers can extract up till 11 doses from original 10 dose vials.
By Product Type
- Molded Glass Vial
- Tubular Glass Vial
- Preventive Vaccine
- Therapeutic Vaccine
- 2 ml
- 3 ml
- 5 ml
- 10 ml
- 20 ml
- North America
- Asia Pacific
- Middle East & Africa
- South America
Key Companies listed
The major companies listed in the vaccine vial marketSchott AG, Thermo Fisher Scientific Inc., DWK Life Sciences, Pacific Vial Manufacturing, Nipro Corporation, Pacific Vial Manufacturing Inc., and Shandong Pharmaceutical Packaging Company.
These companies are spread over North America, Europe, South America, and Asia Pacific markets, which empowers it to take into account clients over the globe. The company’s leading position in the Vaccine Vial market is endorsed by its wide product portfolio.