The drive for the demand for vial adaptors stems from the need for safe, cost-effective solutions for the rapid transfer of drugs for the reconstitution. Various technologies used under vial adapters are useful in preventing overfill, reducing exposure to needlestick injuries, and optimizing the entire process of drug reconstitution. The advent of lyophilized drugs, with the benefits of extended shelf-life and reduced time-to-market, in the healthcare system world over and the rising demand for reconstitution medicines among patient populations are noteworthy factors propelling the demand for vial adapters.
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The rising demand for technologies for safer administration of reconstitution drugs will offer increased momentum to the growth of the market. Bustling with promising opportunities, the global vial adaptors for reconstitution drugs market is projected to rise at a CAGR of 7.5% during 2016–2024 and reach a worth of US$1.3 billion by the end of the period.
How will rise in incidence of infectious diseases catapult demand for vial adapters?
Key therapeutic areas for the demand for vial adapters comprise autoimmune diseases, infectious diseases, reproductive health, and metabolic conditions. The rising prevalence of chronic conditions, especially in elderly patient populations, is a notable trend contributing to the demand for vial adaptors for reconstitution drugs. This therapeutic area will witness a robust uptake throughout the forecast period, accounting for a major share in the global market. Other area likely to witness substantial demand and uptake is the area of autoimmune diseases. The segment is projected to rise at a prominent pace, fueled by the wide prevalence of autoimmune disorders in populations residing in several developed countries.
West Pharmaceutical Services, Inc. a prominent Pennsylvania-based manufacturer of pharmaceutical packaging and advanced delivery systems, announced on February, 2018, that it is opening a new innovation center in Israel. The injectable drug developer has been in Israel since 2005 and the recent expansion initiative will bring innovations in reconstitution system and needle-free transfer device for safe, quick vial-to-vial transfer.
Which factors make Asia Pacific an attractive region for the uptake of vial adapters?
While North America are Europe are prominent regional market, Asia Pacific is anticipated to offer abundant attractive opportunities. The incessant inroads made by vial adapter technology in the healthcare systems in key economies of the region is supporting the promising growth of the regional market. A strikingly rising diabetic population is further fueling the demand for vial adaptors for reconstitution drugs.