Huge Growth Expected in Vials Market in Future

1. Asia-Pacific Predicted to Witness Surge in Vials Market in Coming Years © P&S Intelligence. All rights reserved Page 1

2. The global vials market was valued at $1,263.0 million in 2020, and it will progress at a CAGR of 8.6% between 2021 and 2030, as per the estimates of P&S Intelligence, a market research company based in India. The factors driving the expansion of the market are the soaring production capacity of vial manufacturing companies, surging healthcare expenditure, and booming pharmaceutical industry across the globe. The burgeoning requirement for vials for packaging COVID-19 vaccines is also fueling the market growth. Receive Sample Copy of this Report: https://www.psmarketresearch.com/market-analysis/vials- market-report/report-sample The expansion of the pharmaceutical industry is one of the prominent factors propelling the growth of the market. Glass vial manufacturers such as Gerresheimer AG and SCHOTT AG have witnessed a sharp surge in the demand for vials from pharmaceutical companies, primarily for use in COVID-19 vaccine production processes. Moreover, many biotech and pharmaceutical companies are making huge investments for expanding their production capacities so that they can meet the worldwide demand for COVID-19 vaccines. Make an Enquiry Before Purchase: https://www.psmarketresearch.com/send-enquiry?enquiry- url=vials-market-report Depending on end user, the vials market is categorized into medical, pharmaceutical and biotech companies, and biomedical research organizations. Amongst these, the pharmaceutical and biotech companies category held the largest share in the market between 2014 and 2020, and this trend will continue in the coming years as well. This is ascribed to the burgeoning requirement for pharmaceutical packaging solutions, due to the soaring demand for high-quality drugs such as biologics, and the surging healthcare expenditure in several countries. The market is also divided, based on glass type, into fused-silica and borosilicate. Between these, the borosilicate category is predicted to exhibit faster growth in the market in the forthcoming years. This is mainly credited to the fact that borosilicate glass vials are increasingly being preferred by end users such as biotech and pharmaceutical companies for lyophilized and liquid drugs, because of their impermeability, transparency, chemical inertness, cost-effectiveness, thermal stability, and low extractability and leachability. Thus, it can be said with full surety that the market will exhibit huge expansion across the world in the coming years, mainly due to the increasing healthcare expenditure and expanding pharmaceutical industry in several countries. © P&S Intelligence. All rights reserved Page 2

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