About Vials Packaging
A vial is a small vessel made of glass or plastic, mainly used for storing a medicinal solution, drug, or powder. It is the most prevalent healthcare packaging solution. Since packaging of medicines is a complex process because of their molecular and chemical structures, they need to be packed in protective and durable materials to prevent contamination. The evolution of new diseases and increased health awareness have brought a transformation in the vial packaging market. Companies are making use of high-tech glasses and green plastics to keep medicines safe and are prioritizing environmentally-friendly products.
Technavio’s analysts forecast the global vials primary packaging market to grow at a CAGR of 11.73% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global vials primary packaging market for 2016-2020. The report also presents the vendor landscape and a corresponding detailed analysis of the top five vendors operating in the market.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Vials Primary Packaging Market 2016-2020
Technavio recognizes the following companies as the key players in the global vials primary packaging market: Corning, Gerresheimer, O.Berkm, Schott, and Thermo Fisher.
Other Prominent Vendors in the market are: Acme Vials and Glass Company, Akey Group, Amposan, BMT Corporation, CIRON Drugs & Pharmaceuticals, Friedrich & Dimmock, Global Pharmatech, Hindusthan National Glass & Industries, Jinarth pharma packaging, Kishore Group, Nitin Lifesciences, OCMI-OTG, Pacific Vials, TricorBraun, and WHEATON Industries.
Commenting on the report, an analyst from Technavio’s team said: “Increased use of COC and COP as raw material is a key trend for this market. Superior quality plastics such as cyclic olefin copolymer (COC) and cyclo olefin polymer (COP) are used as raw material in the construction of vial packaging because of their exceptional barrier properties. COCs are clear amorphous copolymers, which includes cyclic and linear olefins. These materials exhibit a unique combination of properties such as low density, excellent moisture barrier capabilities, high transparency, and resistance to aqueous and polar organic media. COCs are also 10 times less permeable to water vapor than PVC or any other packaging material. These COCs are halogen-free and eco-friendly.”
According to the report, significant growth in emerging countries is a key driver for this market. The global vial product manufacturers are focusing on emerging countries, including Brazil, Russia, India, and China (BRIC) to expand their operations. The governments in these countries are taking initiatives to build healthcare infrastructures and increase healthcare budgets. They are also focusing on the improvement of diagnostic procedures. Due to air pollution and water contamination, there has been an increase in the prevalence of chronic and infectious diseases. BRIC countries are an attractive market for multinational corporations in the healthcare industry owing to the rising awareness among consumers about chronic and infectious diseases.
Further, the report states that high operational cost in glass vial packaging is a challenge to market growth. The glass vial packaging business is capital intensive and involves the use of large furnaces and machines. This equipment requires huge investment because of production changeover and high maintenance and shipping costs. The glass vial packaging process requires continuous energy supply. In addition, natural gas, and fuel are vital in this process. Energy costs account for 10%-25% of the total production cost. All these factors increase the total operational cost in the manufacturing of glass vial packaging.
Corning, Gerresheimer, O.Berkm, Schott, Thermo Fisher, Acme Vials and Glass Company, Akey Group, Amposan, BMT Corporation, CIRON Drugs & Pharmaceuticals, Friedrich & Dimmock, Global Pharmatech, Hindusthan National Glass & Industries, Jinarth pharma packaging, Kishore Group, Nitin Lifesciences, OCMI-OTG, Pacific Vials, TricorBraun, WHEATON Industries.