Need of pharmaceutical companies to increase their operational efficiency, surging usage of injectable drugs, increasing production capacity of vial manufacturers, rising healthcare expenditure, and growing pharmaceutical industry are propelling the growth of the global RTF/RTU vials market. Due to these factors, the market is expected to generate $1,183.4 million revenue by 2030, progressing at a CAGR of 14.5% during the forecast period (2021–2030).
The COVID-19 pandemic has given momentum to the pharmaceutical industry and the overall RTF/RTU vials market. Several glass vial companies are increasing their production capacity in order to meet the growing product demand from the pharmaceutical industry, research organizations, and biotech companies. The efficient and smooth distribution of vaccines mandates good packaging, which necessitates the usage of RTF/RTU vials.
Based on packaging type, the market is bifurcated into nest & tub and tray. Of these, the nest & tub category held larger revenue share in 2020, and it is expected to showcase a significant growth during the forecast period. This can be mainly attributed to the wide adoption of this packaging type among pharmaceutical companies, as it had emerged before its tray counterpart. Moreover, it prevents scratches and breakage due to its nest like arrangement, as a result, lowering the rejection rate.
Further, on the basis of filling product, the RTF/RTU vials market is divided into liquid and lyophilized. Of the two, the market for liquid filling products held larger revenue share in 2020, and it is expected to register faster growth during the forecast period. This can be mainly attributed to the greater number of liquid drugs in the market compared to lyophilized drugs. Moreover, lyophilization is a complicated method of preserving vaccines and requires equipment, utilities, and processing space, which is not cost-effective. Hence, the demand for liquid filling products is higher as compared to lyophilized filling products.
Geographically, Europe is expected to lead the RTF/RTU vials market in coming years. This can be primarily attributed to the rising production capacity of vial manufacturers, increasing healthcare expenditure, and growing pharmaceutical industry. Furthermore, presence of a large number of RTF/RTU vial manufacturers in the region, such as Schott AG, Gerresheimer AG, Stevanato Group, and SGD S.A., are also driving regional market. Moreover, the demand for RTF/RTU vials for the packaging of COVID-19 vaccines is on the rise, which, in turn, is supporting the market growth.
Players operating in the RTF/RTU vials industry have been expanding their facilities to enhance their market presence. For instance:
In December 2020, SCHOTT AG established a new pharmaceutical tubing factory in Zhejiang Province, China, to manufacture FIOLAX borosilicate glass tubing for vials, cartridges, ampoules, and syringes. The factory is equipped with state-of-the-art production technology and has an initial capacity of 20,000 tons of glass per year.
In July 2020, Gerresheimer India announced about tripling its production capacity of tubular glass by the end of 2020 and doubling its capacity of molded vials. With this, the company would be able to manufacture 300 million units of multi-dose borosilicate vials from its existing capacity of 150 million units by the end of 2021.
Some of the major players operating in the global RTF/RTU vials market include SCHOTT AG, Gerresheimer AG, SGD S.A., Stevanato Group, Nipro Corporation, China Lemon Trading Co. Ltd., Ningbo Zhengli Pharmaceutical Packaging Co. Ltd., and DWK Life Sciences GmbH.