The U.S. depyrogenated sterile empty vials market size is likely to reach USD 3.5 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 5.2% during the forecast period. Technological advancements in pharmaceutical packaging process, growing funding by government organizations, and flourishing biologics market in the U.S. are some of the key trends escalating market growth. Stringent regulations laid by the government for parenteral are also poised to augment the market.
Rising number of clinical labs in the country is resulting in an increased number of medical and diagnostic tests. This, in turn, is fueling the demand for depyrogenated sterile empty vials. Increasing number of compounding laboratories and research institutes in the U.S. is boosting the demand for these vials in the market. Moreover, continual growth in the pharmaceutical and biotechnology industry is further projected to drive the market.
Increasing number of collaborations in order to achieve innovative packaging technology is also providing an upthrust to the market. Rising incidence of infectious & non-infectious diseases and growing number of clinical studies are translating into a greater demand for these vials. Besides this, the government is backing the promotion of pharmaceutical, medical, and biotechnological researches, which is anticipated to work in favor of the market.
Further key findings from the report suggest:
- More than 20 ml depyrogenated sterile empty vials emerged as the largest segment in terms of revenue in 2017 owing to rising incidence of infectious & non-infectious diseases and increasing investments in the biopharmaceutical sector
- Others, which include pharmaceutical manufacturers and academic & research institutes, formed the most prominent end-use segment in 2017. The growth of the segment can be attributed to expanding base of medical & biotech research institutes and upswing in pharmaceutical manufacturing
- Thermo Fisher Scientific, Inc.; Gerresheimer AG; SCHOTT AG; and DWK Life Sciences are the major players operating in the market. This market is considerably fragmented and market entry barrier is high.
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