PUBLISHER: DataM Intelligence | PRODUCT CODE: 1138298
PUBLISHER: DataM Intelligence | PRODUCT CODE: 1138298
Glass vaccine vial market was valued at USD 552.28 million in 2021. It is forecasted to reach USD XX million by 2029, growing at a CAGR of 10.78% during the forecast period (2022-2029).
A glass vaccine vial is a small glass vessel or bottle used to store medication as liquids, especially vaccines. For sterilization, glass provides greater thermal stability, increased clarity, exceptional impermeability, excellent barrier properties, chemical tolerance, enhanced regulatory approval, and lower environmental effects. A glass vaccine vial may be made either by injecting molten glass into a mold or by sectioning and finishing the tubular glass. The major factors propelling the growth of the glass vaccine vial market are growing incidences of infectious diseases spreading across the globe, such as HIV, Ebola, Hepatitis, and more. The need to protect the population from these spreading viruses creates a higher demand for vaccination served in these vials. Further, the increasing vaccine trials and development worldwide for tackling the spread of diseases drives the demand for glass vaccine vials as vaccine trials start from a limited patient base to trial on mass population. This mass trial requires a higher number of vials for vaccine transport. Moreover, the glass material used for vials is advantageous over other materials due to thermal stability, transparency, sterilization, and more, which positively impacts the inclination towards glass vaccine vials
Market Dynamics: Increasing prevalence of new disease outbreaks
Glass vaccine vial is used to store and transport vaccines made for combating the outbreaks of diseases. The previous decades have witnessed an increase in epidemics with new diseases being introduced into society. For instance: WHO declared Ebola outbreak in May 2021. On February 7, 2021 the Ministry of Health (MOH) in the Democratic Republic of the Congo (DRC) announced that a case of Ebola virus disease (EVD) had been confirmed in Biena Health Zone, North Kivu Province. To combat these diseases, large-scale vaccination of the risk-associated population is required, which surges the demand for glass vaccine vials during the forecast period. Simultaneously, for the 2021-22 flu season so far, the CDC estimated there have been 1,700 flu deaths, 2.9 million flu cases, and 28,000 hospitalizations because of the flu in the United States. The high prevalence and reoccurrence of these diseases stir the demand for glass vaccine vails to aid in the storage and transport of vaccines, driving the market growth.
On the other hand, the regulatory bodies control the contamination risk of aseptic fill/finish operations to ensure that glass packaging is as safe as possible for the patients using it. This makes the production of glass vials and their filling procedures rigid towards government safety protocols which hinder the market growth.
Market Segmentation: Molded Glass Vial segment is projected to be the dominant segment in the market during the forecast period.
Molded glass vial dominated the global market in 2021, as the molded glass vials offer higher design flexibility which provides the vial high mechanical resistance reducing the risk of breakage. Therefore, molded glass vial's increasing usage in the glass vaccine vial product types is expected to propel segmental growth shortly.
Based on application, preventive vaccines held the dominant position in the global market during the forecast period. The sudden outbreak of diseases with concentrated risk zones propels the population to take precautions against being infected by the disease, supporting the segment growth during the forecast period. Moreover, the preventive vaccine is also expected to project a considerable CAGR during the forecast period.
Geographical Penetration: Asia Pacific is the dominating region during the forecast period
Asia-Pacific was held a dominant position in the global glass vaccine vial market in 2021. In Asia-Pacific, China is expected to represent considerable growth during the forecast period. As in the Region, the presence of major market players propels the market growth. Moreover, North America is expected to represent significant growth in terms of value during the forecast period. Well established healthcare infrastructure, along with the rise in vaccine developments, is expected to propel the market growth across the region. Glass vaccine vial market for the Asia Pacific is expected to observe rapid growth over the forecast period, backed by the growth of the population and increasing patient pool, especially in India and China.
The glass vaccine vial market is highly competitive, owing to the presence of big food brands. The key glass vaccine vial players contributing to the growth of the global market include Schott AG, Origin Ltd, DWK Life Sciences, Nippon Electric Glass, Pacific Vial Manufacturing, Corning, SGD Pharma, Nipro, Richland Glass, Stevanato Group, Four Stars Glass, among others. The major players are adopting new product type launch and expansion strategies for global growth in the glass vaccine vial market. In November 2021, Corning opened a new pharmaceutical vial manufacturing factory in Durham, North Carolina, where it said it can produce 500 million glass vials per year to improve the domestic supply chain and deliver Covid-19 vaccines and other drugs to the U.S. and abroad.
COVID-19 Impact: Positive impact on the global glass vaccine vial market
The outbreak of COVID-19 has positively impacted the growth of the Glass Vaccine Vial market globally. The escalated cases of COVID-19 across the globe, along with the high number of vaccine trials and development coupled with COVID-19 vaccination drives, have triggered tremendous demand for glass vaccine vials. Therefore, the COVID-19 pandemic boosted the market value of the glass vaccine vial market in 2021.
The global glass vaccine vial market report would provide an access to approximately 51 market data tables, 43 figures and 190 pages
Scope and Methodology