Vials Used in Compounding Pharmacy Market Trends Report

Vials Used in Compounding Pharmacy Market Size, Trends and Shares Report

The global vials used in compounding pharmacy market is surging, with an overall revenue growth expectation of hundreds of millions of dollars during the forecast period from 2024 to 2033. Projected revenue growth is set to skyrocket while the market held a notable share in 2023.

Key Takeaways

• By region, North America dominated the vials used in compounding pharmacy market in 2023.
• By region, Asia Pacific is expected to grow with the fastest CAGR during the forecast period.

Industry at a Glance

The vials used in compounding pharmacy market deals with the manufacturing and distribution of vials used in compounding pharmacy. The practice that uses tools to help compound prescription drugs into forms that are helpful is known as pharmaceutical compounding. Take note of the equipment, techniques, and diverse compounding settings that are employed for distinct drugs. Even in the narrow range of vials, there is a vast array of choices, ranging from traditional glass vials to cutting-edge smart vials. An exceedingly useful yet basic tool is the pharmaceutical vial. These little plastic or glass receptacles have distinctive features and are available in a variety of sizes and forms. Pharmacy staff may maintain patient safety and compliance by being aware of how each kind of vial functions. The changes in the vials used in compounding pharmacy market are happening quickly. Worldwide pharmacies depend on telepharmacy and other technology to provide prompt and effective patient care. Prescription packaging solutions, such as pharmacy vials, are also seeing advancements in technology.

Growth Factors of the Vials Used in the Compounding Pharmacy Market

• Medical materials, such as medications and samples, are transported and stored in vials, which are typically liquid containers.
• Vials are reusable and can be cleaned and used again. Vials are used to transport numerous dosages of medication and are often larger in size.
• Stable elements are best stored in vials. Medicines can be kept in vials for extended periods of time.
• Vials are essential to the operation of many establishments, including department stores and police enforcement.
• When it comes to protecting the sample from spillage, contamination, and evaporation, vials are essential.

Top Companies in the Vials Used in Compounding Pharmacy Market

• DWK Life Sciences.
• West Pharmaceutical Services, Inc.
• ALK-Abelló A/S.
• PerkinElmer
• SGD Pharma
• EPS Inc.
• Benchmark Scientific
• Boekel Scientific
• Magnum Compounding LLC
• Automated Systems of Tacoma, LLC
• Hikma Pharmaceuticals PLC

Recent Launch by Hikma in the Vials Used in Compounding Pharmacy Market

Recent Development by SGD Pharma in the Vials Used in Compounding Pharmacy Market

The Growing Use of Drugs Due to Chronic Diseases Drives the Market’s Growth

The vials used in compounding pharmacy market are growing due to the growing utilization of drugs due to the increasing number of patients. A unique kind of glass vial known as an ampoule can also be used to deliver a wide variety of medications, both liquid and solid. Ampoules are typically used to hold substances and medications that are sensitive to air or for which sterility and an inert container are essential. To improve the stability of the solid or liquid medication, ampoules can also be used to hold gases or to pressurize the ampoule with a specific gas. It is also possible to modify the ampoule's glass to block dangerous UV rays.

Contamination Can Restraint the Vials Used in Compounding Pharmacy Market

Contamination is one of the limitations of using ampules. The ampoule's contents could get contaminated by glass fragments that break or by metal flakes that are used to make the ampoule. When injected or inhaled, as is the case with anesthetics, these pollutants can manifest health risks. In addition, the substances utilized in the packaging of the ampoule can expose patients to the possibility of bacterial infections. Opening an ampoule could be hazardous for medical personnel because you have to break through the glass.

Sustainability Can Promote the Vials Used in Compounding Pharmacy Market

Corning, like a lot of other top producers of primary glass packaging, has modified its production processes to reduce emissions as the pharmaceutical business sets aggressive targets for material waste and carbon reduction. A cascade effect of lower energy used in raw material extraction, lower emissions during transportation, better utilization of secondary packaging materials, and lower energy consumption during conversion is produced when fewer glass materials are used per vial. The annual inflow of roughly 30,000 tons (>27 million kg) of glass into the trash stream might be prevented by a 20% reduction in glass material.

For instance,

• In July 2023, as part of its growing line of innovative pharmaceutical glass packaging, Corning Incorporated introduced Corning® ViridianTM Vials. Through Viridian Vials, sustainability and performance are combined. Carbon dioxide equivalent (CO2e) emissions from vial manufacture can be reduced by up to 30%, and filling-line efficiency can increase by up to 50% with the new technique. Thanks to the innovative coating technique of Viridian Vials, customers may provide drugs to patients in a safe and effective manner that benefits the environment as well as the patients.

The Growing Pharmaceutical Industry Drives the Market in North America

North America dominated the vials used in compounding pharmacy market in 2023. The primary drivers propelling the market growth are the growing need for customized drugs, the incidence of chronic illnesses on the rise, the development of the healthcare infrastructure, and the growing awareness and desire for complementary therapies. Because it is more affordable to invest in cutting-edge medications that cater to specific medical demands, North America has been the driving force behind advancements in the healthcare sector.

Considering the region's enormous growth potential in all areas, growth is mostly attributable to favorable development conditions, such as the residential market's recovery and improved affordability, along with growing pharmacy penetration in North America throughout the projected period. The environment of retail pharmacies, which are defined as pharmacies that fill prescription drugs, has changed significantly during the last 20 years. The vials used in compounding pharmacy market growth have been positively impacted by the quick expansion and upgrades of existing pharmacies to increase market penetration.

Research & Developments Drives the Vials Used in Compounding Pharmacy Market in Asia Pacific

Asia Pacific is expected to grow at the fastest rate during the forecast period. The nations of China, Japan, India, South Korea and the rest of Asia Pacific are included in the Asia Pacific region. The expansion of the market in the area is also fueled by the presence of several industry participants. The market for compounding pharmacies in the Asia Pacific area will also rise as a consequence of increased research and development efforts aimed at improving a number of healthcare outcomes and generating more exact and accurate results. Over the projection period, the market for vials used in compounding pharmacies will be driven by rising rates of chronic illnesses and an increase in the senior population, which will also put more strain on the healthcare system.

Recent Developments in the Vials Used in Compounding Pharmacy Market

• In May 2024, a global supplier of injectable medication administration solutions, West Pharmaceutical Services, Inc., is introducing the Daikyo Crystal Zenith (CZ) Nested Vials in Tub. CZ nested vials, which are made to adhere to the glass standard ISO-8362-1 for outside dimensions, have been shown to be an effective containment solution for radiopharmaceuticals, sensitive compounds, and cell and gene treatments.
• In February 2024, a leading provider of pharmaceutical packaging, SGD Pharma, unveiled a new line of Type I tubular vials using Corning's "Velocity Vial" coating technology. According to the business, this improves patient safety and product quality. The selection consists of premium Type I injectable vials in low-friction coated tubular glass. The device was created as a result of a collaboration that combines Corning's patented glass-coating technology with SGD Pharma's experience in vial conversion to increase pharmaceutical filling-line productivity and expedite the distribution of injectable medicines throughout the world.
• In January 2024, Schott Pharma unveiled its Everic freeze vials, which are intended to store mRNA and gene therapy medications at extremely low temperatures. Because these vials can endure temperatures as low as -80°C, they won't break the glass during freezing and thawing as regular vials do. By doing this, expensive downtime and the loss of life-saving drugs are prevented.
• In May 2023, Bivalirudin injections are available for purchase in ready-to-use 250 mg/50 mL single-use vials from Endo International plc's Par Sterile Products division. It is the only version of bivalirudin available on the market in the United States that is ready for usage.

Regional Insights

• North America
  
  • U.S.
  • Canada
• Europe
  
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Sweden
  • Denmark
  • Norway
• Asia Pacific
  
  • China
  • Japan
  • India
  • South Korea
  • Thailand
• Latin America
  
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa (MEA)
  
  • South Africa
  • UAE
  • Saudi Arabia
  • Kuwait