The global market for vial adaptor for reconstitution drugs features a largely consolidated vendor landscape, with the leading four companies collectively accounting for a massive 67% of the overall market in 2015, observes Transparency Market Research in a recent report. These vendors, namely Baxter International Inc., West Pharmaceutical Services, Inc., Becton, Dickinson & Company, and Cardinal Health Inc. hold commanding positions in the market on account of their vast geographical presence, focus on the enhancement of product portfolios, and strategic collaborations with domestic vendors across key regional markets.
Transparency Market Research states that the global vial adaptors for reconstitution drug market will exhibit a promising 7.5% CAGR over the period between 2016 and 2024, rising to a valuation of US$1.3 bn by 2024 from US$780 mn in 2015.
Reconstitution Drugs used to Treat Autoimmune Diseases to form Bulk of Vial Adaptor Demand
Of the key therapeutic areas presenting the demand for vial adaptors for reconstitution drugs, including autoimmune diseases, metabolic conditions, reproductive health, and infectious diseases, the segment of autoimmune diseases accounted for the leading share in the overall market in 2015. The segment is also expected to account for a significant share in the global market over the forecast period owing to the rising prevalence of autoimmune diseases.
From a geographical perspective, the global vial adaptors for reconstitution drug market is presently dominated by the North America market. Rising concerns regarding the complications resulting from needlestick injuries and fast-paced technological developments are contributing to the increased demand for needle-free products in the region. By the end of the report’s forecast period, the region is expected to account for a massive 45% of the global market.
Rising Prevalence of Infectious Diseases and Mounting Geriatric Population Drive Growth
The global vial adaptors for reconstitution drug market is expected to witness rise in demand owing to the rising global demand for needle-free products. The rapidly expanding population of geriatrics, which is a demographic highly susceptible to a number of diseases requiring drug administration through vial adaptors is also a key factor driving the market for vial adaptors for reconstitution drugs. Moreover, the rising prevalence of infectious diseases is also expected to drive the increased demand for reconstitution drugs, which will, in turn, drive the demand for vial adaptors. The market will also benefit from the rising global consumption of lyophilized drugs owing to the reduced risk of contamination and drug spillage.
Product Customization Limitations Hamper Growth Potential
Although the market holds immense promise of growth across key regional markets, it is likely to face a few challenges over the report’s forecast periods. One of these key restraints is the need for customization for a number of end-use products. Lack of easy customization options hamper the growth prospects of the market to a certain extent. The market’s growth is also expected to be limited to a certain extent owing to the easy availability of alternatives such as auto-injectors.
This review of the market is based on a recent market research report published by Transparency Market Research, titled “Vial Adaptors for Reconstitution Drug Market (Products - 13mm and 20mm Vial Adaptors; Material - Polycarbonate, Silicon, Polyethylene Teraphthalate Glycol, and Polyethylene; Therapeutic Area - Autoimmune Diseases, Infectious Diseases, Metabolic Conditions, and Reproductive Health; Delivery Mode - Injection and Infusion) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024.”
For the study, the global market for vial adaptors for reconstitution drugs is segmented as follows:
Global Vial Adaptors for Reconstitution Drug Market, by Product Type
- 13mm Vial Adaptor
- 20mm Vial Adaptor
Global Vial Adaptors for Reconstitution Drug Market, by Material
- Polyethylene Teraphthalate Glycol
Global Vial Adaptors for Reconstitution Drug Market, by Therapeutic Area
- Autoimmune Diseases
- Infectious Diseases
- Metabolic Conditions
- Reproductive Health
Global Vial Adaptors for Reconstitution Drug Market, by Delivery Mode
Global Vial Adaptors for Reconstitution Drug Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Rest of World
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