The global vials primary packaging market to grow at a CAGR of 11.73% during the period 2016-2020.
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.
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.
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.
- Gerresheimer AG
- Thermo Fisher Scientific
Other prominent vendors
- Acme Vials and Glass Company
- Akey Group
- BMT Corporation
- CIRON Drugs & Pharmaceuticals
- Friedrich & Dimmock
- Global Pharmatech
- Hindusthan National Glass & Industries
- Jinarth pharma packaging
- Kishore Group
- Nitin Lifesciences
- Pacific Vials
- WHEATON Industries
For more information visit http://www.researchandmarkets.com/research/frmftb/global_vials