The Global Pharmaceutical Vials Market is projected to reach $25,452.73 million by 2028, from a value of $14,846.72 million in 2022, by registering a CAGR of 9.4% during the forecast period. Increasing demand for packaging of COVID-19 vaccines, rapidly growing pharmaceutical industry, high demand from hospitals and drug manufacturers for efficient transportation, and increasing demand for ready-to-use glass vials for flexible aseptic filling are the major factors propelling the growth of the market. However, increasing cost of overall packaging and release of chemicals in the internal surface of glass tubing containers are hampering market growth. Moreover, increase in the number of emerging markets and adoption of new glass types to minimize product contamination are creating ample opportunities across the globe.
Recent Developments
In February 2022, Bormioli Pharma is announcing its collaboration with other companies in this market. Enhancing pharmaceutical application and product of glass packaging are benefits of this collaboration. There is high research in the company that raises bottle resistance and the quality of the packaging. Lowering the carbon footprint in the package is the goal of this company.
In May 2021, Nipro Corporation has partnered with AstraZeneca, to supply the British-Swedish company’s COVID-19 vaccine in Japan. Both the companies are partnering for the production of vaccines. Also, they are manufacturing many odes of vaccines for Japan.
In May 2020, Corning Incorporated and Pfizer Inc signed a long-term purchase and supply agreement for Corning Valor Glass. The multiyear agreement provides for the supply of Valor Glass vials to a portion of currently marketed Pfizer drug products, pending regulatory approval.
In December 2019, Gerresheimer opened a new plant in India through Triveni Polymers Pvt. Ltd to increase its production capacity. The company will be making vials made of tubular glass for pharmaceutical and diagnostic applications, as well as ampoules in the plant.
In Nov 2019, Schott AG announced its plan to double its manufacturing capacity in India, by infusing a total of EUR 47 million (including its existing investment of EUR 21 million). The company is also planning to inject additional investments of EUR 26 million for another tank facility in 2020.
Competitive Landscape
Nipro Europe, Sisecam, Schott AG, Piramal Glass, Adelphi Healthcare Packaging, Stevanato Group S.p.a, Owens-Illinois Inc., Gerreshemier AG, Bormioli Pharma S.p.A, Pacific Vial Manufacturing Inc., West Pharmaceutical Services Inc., Ardagh Group S.A., SGD Pharma, Corning Incorporated, Berry Global Inc, DWK Life Sciences, STOELZLE GLASS GROUP, and Shandong Qidu Pharmaceutical Co., Ltd. are some of the major players in the global Pharmaceutical Vials market.
