Lewes, DE -- (SBWire) -- 08/05/2016 --Report forecast the global vials primary packaging market to grow at a CAGR of 11.73% during the period 2016-2020.
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.
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:
- North America
- Europe
- APAC
- ROW
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.
Global Vials Primary Packaging Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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.
Market driver
- Significant growth in emerging countries
- For a full, detailed list, view our report
Market challenge
- High operational cost in glass vial packaging
- For a full, detailed list, view our report
Market trend
- Increased use of COC and COP as raw material
- For a full, detailed list, view our report
Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
Spanning over 63 pages and 33 Exhibit "Global Vials Primary Packaging Market 2016 - 2020" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Market segmentation by application, Geographical segmentation, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Appendix.
For more information Visit at: http://www.marketresearchreports.com/technavio/global-vials-primary-packaging-market-2016-2020
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