Sun, 29 Jan 2023

The global Micro Vials Market is expected to reach US$ 2.3 Bn in 2022 and further expand its reach to US$ 4.0 Bn by 2032. According to the historical analysis conducted by Future Market Insights, overall sales of the global micro vials market were valued at US$ 2.2 Bn in 2021 and the market witnessed growth at a CAGR of 5.1% during the historic estimation period. The growth in the market is attributed to the surging demand for better packaging solutions across industries including healthcare, chemicals, and personal care over the current assessment period.

Sales of the glass micro vials are predicted to bolster with the top 3 countries' estimation to account for around 25-30% of the market by the end of 2022. The global micro vials market forms around 30% of the global vials market which stood at US$ 7 Bn in 2021. Attributing to the rising adoption of micro vials across several industries including healthcare, cosmetics & personal care, and chemicals is a key factor driving the demand for micro vials in the market.

On the basis of material, the glass segment is predicted to remain a dominant segment in the global market, possessing a prominent share of around 76% by the end of 2032. By end use, the healthcare segment is projected to register a CAGR of 6.0% during 2022-2032.

Get a Sample PDF of the Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-13482

Key Takeaways

  • Over recent years, there has been a significant rise in the number of vaccination drives all over the world aimed at reducing the burden of numerous diseases. Several governments and regulatory bodies are predicted to launch new initiatives in order to provide people access to vaccines.
  • The majority of these vaccines need high-end safety packaging solutions such as micro vials. Micro vials are known as the best packaging solution which is best suited for vaccines and consist of essential features to protect vaccines from outer reactions. Such packaging solutions aid vaccines in protecting them from getting destroyed and extending their shelf life. Therefore, the micro vials market is getting lucrative opportunities amid the vaccination drive across the globe.
  • Dominant manufacturers in industries like cosmetics, pharmaceuticals, and other products are diverting their focus on creating child-resistant packaging. In order to prevent the accidental death of children, which can occasionally result from acute poisoning after the consumption of unsupervised pharmaceutical or cosmetic items, the focus has been placed on child-resistant packaging.
  • By creating child-resistant packaging, businesses are able to expand into various other sectors including the pharmaceutical and cosmetics industries. There are micro vials available with child-resistant seals, which offers some potential for the market's growth.
  • Furthermore, key players in the market can create effective strategies to make the packaging child-resistant by opting for single-dose packaging. Child-resistant packaging is considered a vital safety element that must be taken into consideration because it helps prevent children from ingesting unexpected and harmful pharmaceutical items. Hence, the introduction of child-resistant packaging by micro vial producers offers a wide range of growth prospects for micro vials among end-use sectors.
  • The increasing usage of glass for the production of micro vials can be attributed to its chemical properties which are known to offer protection to various chemicals or adhesives from external effects. Micro vails are known to be simple, cost-efficient and lightweight packaging solutions utilized for storing and transporting drugs, chemicals, cosmetics, and several other sensitive products. These containers let the manufacturers protect sensitive and volatile products from various external factors including temperature and microbes. Besides this, they are easy to transport and take up much less space than conventional vials.
  • The popularity of these vials has risen across the healthcare industry where they are extensively utilized for storing and protecting products such as vaccines that require the highest sensitivity. They are designed to both uphold the highest medical standards and ergonomically protect the integrity of a product.

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Competitive Landscape

Prominent micro vials manufacturers are using several organic and inorganic strategies like new product launches, mergers, acquisitions, collaborations, facility expansions, and strengthening distribution channels.

Key Companies Profiled

  • Gerresheimer AG
  • Berry Global Group
  • DWK Life Sciences
  • Schott AG
  • Thornton Plastics
  • Sigma-Aldrich Co. LLC
  • West Pharmaceutical Services, Inc.
  • Adelphi Group
  • Pacific Vial Manufacturing, Inc.
  • SGD Pharma

More Insights into the Micro Vials Market

China is estimated to dominate the global micro vials market by accounting for around 64% value share of the East Asia micro vials market by the end of 2022. This is due to the rapid expansion of the chemical industry and the easy availability of raw materials at much lower costs.

Micro Vials Market by Category

By Material:

  • Glass
  • Plastic

By Capacity:

  • Less than 1ml
  • 1 ml -3 ml
  • 3.1 ml - 5ml
  • Above 5ml

By End Use:

  • Healthcare
  • Cosmetics & Personal Care
  • Chemicals

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Middle East & Africa
  • Oceania

View Full Report @ https://www.futuremarketinsights.com/reports/micro-vials-market

Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand-side Trends

1.3. Supply-side Trends

1.4. Technology Roadmap Analysis

1.5. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Market Background

3.1. Market Dynamics

3.1.1. Drivers

3.1.2. Restraints

3.1.3. Opportunity

3.1.4. Trends

3.2. Impact of Covid-19

3.2.1. Demand in Optimistic Scenario

3.2.2. Demand in Likely Scenario

3.2.3. Demand in Conservative Scenario

3.3. Macro Factors and Forecast Factors

3.4. Value Chain Analysis

3.4.1. Profit Margin Analysis

3.4.2. Raw Material Suppliers

3.4.3. Manufacturers, Wholesalers and Distributors

3.4.4. End Use/ Customers

3.5. Regional Parent Market Outlook

3.6. Production and Consumption Statistics

3.7. Global Average Pricing Analysis Benchmark

About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

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The post Micro Vials Market is estimated at US$ 4.0 Billion in 2032 | Future Market Insights, Inc. appeared first on Future Market Insights.

Original Source of the original story >> Micro Vials Market is estimated at US$ 4.0 Billion in 2032 | Future Market Insights, Inc.

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This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.

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