COVID-19 Vaccination Programs Augmenting Vials Demand Worldwide

[Pramod Kumar]

The outbreak of the COVID-19 infection has augmented the need for medical products in recent years. As the virus is spreading at an exponential rate, people need to vaccinate at a rapid pace in order to protect themselves from the infection. To meet the high demand for vaccines, pharmaceutical companies are heavily investing in the expansion of their production capacities. Moreover, the mushrooming focus of pharmaceutical and biotechnology companies and research organizations on discovering novel drugs to cure the COVID-19 disease will also amplify the need for vials in the foreseeable future.

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In addition, the surging healthcare expenditure, primarily on account of soaring awareness regarding health-related issues, is expected to drive the vials market at a CAGR of 8.6% during the forecast period (2021–2030). The market revenue stood at $1,263.0 million in 2020 and it is projected to reach $3,047.0 million by 2030. The escalating expenditure on healthcare in emerging economies, such as China and India, will significantly contribute to the market growth in the coming years. Currently, the market is observing a key trend of growing preference for glass material for vials for the vaccine fill-finish products.

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Nowadays, vial manufacturers, such as Phoenix Glass LLC, Acme Vial and Glass Company LLC, SGD Pharma, Corning Incorporated, Pacific Vial Manufacturing Inc., O.Berk, Stevanato Group, Gerresheimer AG, SCHOTT AG, Hanna Instruments, and PIRAMIDA d.o.o, are preferring borosilicate glass over fused silica to produce vials, due to the impermeability, thermal stability, and chemical inertness properties of the former glass type. With the launch of COVID vaccination programs, these companies are manufacturing borosilicate vials in large quantities.

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Thus, the escalating cases of COVID-19, the accelerating rate of vaccination programs, and mounting healthcare expenditure of several countries will fuel the production of vials in the forthcoming years.