According to the latest market report published by Credence Research, Inc. “Vial Adaptors for Reconstitution Drug Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025” the global vial adaptors for reconstitution drug market was valued at US$ 796.9 Mn in 2016, and is expected to reach US$ 1,509.8 Mn by 2025, expanding at a CAGR of 7.4% from 2017 to 2025.
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Vial adaptors are used for the safe transfer and reconstitution of drugs between vials and syringes; vial adaptors market is rapidly growing due to advantages associated with it such as reduce exposure to needle stick injuries, requires fewer steps for drug delivery and reduced costly overfill requirements that are driving the growth of vial adapter market globally.
For the purpose of study vial adaptors for reconstitution drug market is segmented on the basis of material such as polycarbonate, polyethylene, silicon and other material; currently, polyethylene is largest revenue contributing segment due its chemical and physical inertness.
It is observed that, in the base year 2016, North America held largest market share due to higher price of vial adapters, technological advances, increased safety awareness and mandatory use of safety devices fueling the growth of vial adaptors for reconstitution drug market in North America.
Asia Pacific is anticipated to show highest CAGR during forecast period due to rising healthcare awareness, developing economic condition and developing healthcare infrastructure would expected to drive the market growth during forecast period.
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Market Competition Assessment:
The vial adaptors for reconstitution drug market is observed to be highly competitive and comprises large number of players. However, the market is currently dominated by few players such as B. Braun Medical, Baxter, Becton, Dickinson and Company, Cardinal Health, Helapet Ltd., MedXL Inc., Nipro Pharma Packaging India Pvt. Ltd., Sensile Medical, Unilife Corporation, West Pharmaceutical Services, Inc. and other.
Key Market Movements:
– Factors such as mandatory use of safety device in some developed countries, increase in demand for accurate dosing by reduce need of drug overfill, research activities in developing an ideal vial adapter and increase in demand for reconstitution drug are primarily driving the growth of vial adaptors for reconstitution drug market globally.
– Vendors in the market are focusing on innovation and technological advances in developing ideal and cost effective vial adapter, this would further influence the growth of vial adaptors for reconstitution drug market globally.
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