The depyrogenated sterile empty vials market has garnered USD 3,089.8 million in 2022, and it will touch USD 4,521.7 million, propelling at a 4.9% compound annual growth rate, by 2030.
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The growth of the industry is because of the increasing number of clinical laboratories, the speedy expansion of the pharmaceutical sector, and the technological development in pharmaceutical packaging.
In 2022, the clinical labs category, based on end user, accounted for the largest depyrogenated sterile empty vials market revenue share, approximately 60%. This is primarily attributed to the growing number of such laboratories.
For example, India has a population of more than 1.4 billion, and therefore the nation has a large number of clinical laboratories. Recently, clinical laboratories number in India has increased significantly. This is primarily due to the growing need for medical testing services and the government's efforts to improve access to healthcare.
Furthermore, in 2022, the compounding labs category accounted for a significant revenue share, of 20% in the industry. This is primarily credited to the fact that these laboratories specialize in producing customized medicines tailored to meet the unique requirements of individual patients.
In 2022, North America accounted for the largest industry revenue share, approximately 40%. This is primarily due to the increasing requirement for such vials in numerous clinical settings and research laboratories, the growing incidence of infectious illnesses, and the advancement and technology in pharmaceutical packaging. Furthermore, the mounting number of clinical laboratories in the region for numerous diagnostic tests is also boosting industry growth.
The APAC industry will advance at the highest compound annual growth rate in the years to come. This is primarily because of the rising incidence of infectious illnesses because of the changing human behavior, enhanced screening intensity and diagnostic technologies, and rising antimicrobial resistance.
Europe held a significant share of the industry. This is primarily due to the rising pharmaceutical sector across several nations in the region. Moreover, Germany is the largest EU-approved active biopharmaceutical ingredients producer in Europe, where over half of active biopharmaceutical substances are made in South Germany.
Moreover, the LATAM industry will rapidly advance in the years to come, owing to the increasing old age-related diseases and chronic illnesses, the growing healthcare expenses by governments, surging investment by multinational and local businesses to expand their footprint, and the mounting income in some demographic segments driving a desire for quality healthcare services in the region.
Hence, with the increasing number of clinical laboratories, as well as the swift expansion of the pharmaceutical sector all over the world, the industry of depyrogenated sterile empty vials will continue to grow in the years to come.
