June 02, 2020
According to recent study titled ‘Depyrogenated Sterile Empty Vials Market Size By Product, By Package Technology, By End-use, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 - 2026’, available with Market Study Report LLC, global depyrogenated sterile empty vials market is expected to amass substantial returns by the year 2026.
Depyrogenation involves removal of a pyrogen from a substance, container, instrument, or a pharmaceutical container. Rising prevalence of various diseases across the globe is bolstering the demand of depyrogenated sterile empty vials for research and diagnostic applications, in turn propelling the market growth.
Based on the product type, 5ml segment accounted for 30% market share in 2019. Widespread use of 5ml vials for storing cells and fluids at cryogenic temperatures for preservation of the samples will continue to foster the segment growth over the forecast period.
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Meanwhile, 10 ml segment is projected to record a 8.5% CAGR through 2026, with an escalating demand for pre-assembled 10ml vials with stopper and aluminum crimp seal. Most treatments involve usage of 10ml vials. Moreover, these vials are used for formulating various medications and drugs for injection. Extensive use in diagnostics and for storing specimen collections are driving the segment growth.
Elaborating on the package technology, plastic segment is predicted to expand with a CAGR of 8% through 2026. Plastic vials exhibit better thermal insulation properties, which allows for the contents to be stored at right temperature at all times. In addition, other advantages over glass vials such as low susceptibility to delamination & breakage and lightweight are favoring the use of plastic vials.
Speaking of the end-user spectrum, depyrogenated sterile empty vials market share from clinical labs segment is set to witness a growth rate of 7% over the forecast timeline. The product is extensively used for collection and storage of samples in clinical labs.
On the other hand, contract manufacturing organization (CMOs) segment garnered USD 160 million in 2019 and is expected grow tremendously in the coming years. Preference for outsourcing drug development and drug manufacturing services among pharmaceutical industry is stimulating the demand for ready-to-use vials across CMOs.
From a geographical front, depyrogenated sterile empty vials industry in Europe accrued 40% share in 2019 and is anticipated to show considerable growth over the projection period. Rise in number of labs, research institutes, and biopharmaceutical companies, along with a thriving biotech sector supported by the abundance of high-caliber talent in the region are contributing to Europe market growth.
Meanwhile, depyrogenated sterile empty vials industry in Latin America is estimated to expand at 8.2% CAGR through 2026, primarily driven by the presence of high-quality manufacturing units in the region.
The report cites that depyrogenated sterile empty vials industry in Middle East & Africa is reckoned to register a y-o-y growth rate of 7% over 2020-2026. Government support for manufacturing novel packaging solutions for pharmaceutical products, along with focus towards improving healthcare infrastructure are impelling the industry growth in MEA.
Major players in global depyrogenated sterile empty vials market include APG Pharma, DWK Life Science, Corning Incorporated, Nipro PharmaPackaging, Gerresheimer, Radpharm Scientific, Stevanato Group, SCHOTT AG, SGD Pharma, VWR International and Thermo Fisher Scientific.