Vial Packaging Market Trends and Forecast
The future of the global vial packaging market looks promising with opportunities in the medical, agriculture, and food & beverage markets. The global vial packaging market is expected to grow with a CAGR of 5.3% from 2024 to 2030. The major drivers for this market are increasing demand for pharmaceuticals and vaccines and ongoing advancements in biotechnology and personalized medicine.
• Lucintel forecasts that glass is expected to witness the higher growth over the forecast period.
• Within this market, medical is expected to witness the highest growth.
• North America is expected to witness highest growth over the forecast period.
United States: In the United States, the vials packaging market has seen notable developments with companies like Gerresheimer and Schott AG focusing on innovation and sustainability. Gerresheimer announced initiatives to develop eco-friendly vials made from recycled materials, aligning with the governmentÄX%$%Xs push for reducing plastic waste. Schott AG has set targets to expand its production capacity to meet the growing demand for vials in the pharmaceutical and healthcare sectors. The US governmentÄX%$%Xs emphasis on promoting domestic manufacturing and healthcare infrastructure development has provided further impetus to these initiatives. Sources: Packaging Digest, PR Newswire, Market Research Reports.
India: In India, the vials packaging market has experienced rapid growth, driven by the countryÄX%$%Xs thriving pharmaceutical industry. Companies like Piramal Glass and SGD Pharma have announced investments in state-of-the-art manufacturing facilities to cater to the increasing demand for vials. Piramal Glass has set ambitious targets to capture a larger share of the domestic and international vials market. The Indian governmentÄX%$%Xs initiatives to promote the pharmaceutical sector through policy reforms and infrastructure investments have supported this growth trajectory. Sources: The Economic Times, Business Standard, Market Research Reports.
China: In China, the vials packaging market has witnessed robust expansion, fueled by the countryÄX%$%Xs pharmaceutical manufacturing boom. Key players like Shandong Pharmaceutical Glass and Wuhan Vanjoin Packaging have announced plans to enhance production capabilities and develop advanced vial packaging solutions. Shandong Pharmaceutical Glass aims to achieve targets for increasing export volumes and expanding its global footprint in the vials market. The Chinese governmentÄX%$%Xs focus on promoting innovation and technology in the pharmaceutical industry has provided a conducive environment for such initiatives. Sources: China Daily, Global Times, Market Research Reports.
Germany: In Germany, the vials packaging market has seen steady growth, with companies like Gerresheimer and Schott AG leading innovations in glass vial production. Gerresheimer has announced initiatives to optimize manufacturing processes and reduce carbon emissions in vial production, in line with the governmentÄX%$%Xs sustainability goals. Schott AG has set targets to develop high-quality vials with enhanced safety features to meet the stringent regulatory requirements of the pharmaceutical industry. The German governmentÄX%$%Xs support for research and development in healthcare and life sciences has further facilitated advancements in the vials packaging sector. Sources: Packaging Europe, Statista, Market Research Reports.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Vial Packaging by Segment
The study includes a forecast for the global vial packaging by type, application, and region.
Vial Packaging Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• Glass
• Plastic
• Others
Vial Packaging Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Medical
• Agriculture
• Food & Beverage
• Others
Vial Packaging Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Vial Packaging Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies vial packaging companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the vial packaging companies profiled in this report include-
• Schott
• Corning
• O.Berk
• Thermo Fisher
• Acme Vials And Glass Company
• Akey
• Amposan
Recent Development in the Vial Packaging Market
Gerresheimer: Gerresheimer, a leading provider of glass packaging solutions, has launched an initiative to produce eco-friendly vials. These vials are made from recycled glass materials, reducing the environmental impact of manufacturing processes. GerresheimerÄX%$%Xs commitment to sustainability aligns with the growing consumer demand for environmentally responsible packaging solutions.
Schott AG: Schott AG, a global leader in glass manufacturing, has introduced vials with advanced safety features for the pharmaceutical industry. These vials are designed to enhance product protection and prevent contamination, ensuring the integrity of sensitive medications. Schott AGÄX%$%Xs focus on product innovation reinforces its position as a trusted supplier of high-quality packaging solutions.
Piramal Glass: Piramal Glass, a prominent player in the vials packaging market, has announced plans to expand its production capacity to meet growing demand. The companyÄX%$%Xs initiatives include investments in state-of-the-art manufacturing facilities and technology upgrades to enhance efficiency and scalability. Piramal GlassÄX%$%X expansion strategy reflects its commitment to serving the evolving needs of the pharmaceutical and healthcare sectors.
Shandong Pharmaceutical Glass: Shandong Pharmaceutical Glass, a leading vials manufacturer based in China, has embarked on an initiative to expand its presence in international markets. The company aims to leverage its expertise in glass packaging to capture a larger share of the global pharmaceutical market. Shandong Pharmaceutical GlassÄX%$%X focus on international expansion highlights the growing demand for Chinese-made vials worldwide.
Features of the Global Vial Packaging Market
Market Size Estimates: Vial packaging market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Vial packaging market size by type, application, and region in terms of value ($B).
Regional Analysis: Vial packaging market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the vial packaging market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the vial packaging market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for vial packaging market?
Answer: The global vial packaging market is expected to grow with a CAGR of 5.3% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the vial packaging market?
Answer: The major drivers for this market are increasing demand for pharmaceuticals and vaccines and ongoing advancements in biotechnology and personalized medicine.
Q3. What are the major segments for vial packaging market?
Answer: The future of the vial packaging market looks promising with opportunities in the medical, agriculture, and food & beverage markets.
Q4. Who are the key vial packaging market companies?
Answer: Some of the key vial packaging companies are as follows:
• Schott
• Corning
• O.Berk
• Thermo Fisher
• Acme Vials And Glass Company
• Akey
• Amposan
Q5. Which vial packaging market segment will be the largest in future?
Answer: Lucintel forecasts that glass is expected to witness the higher growth over the forecast period.
Q6. In vial packaging market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to witness highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the vial packaging market by type (glass, plastic, and others), application (medical, agriculture, food & beverage, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Vial Packaging Market Market, Vial Packaging Market Market Size, Vial Packaging Market Market Growth, Vial Packaging Market Market Analysis, Vial Packaging Market Market Report, Vial Packaging Market Market Share, Vial Packaging Market Market Trends, Vial Packaging Market Market Forecast, Vial Packaging Market Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.