This report on the global Vial Adaptors For Reconstitution Drug Market Research Report 2020 is detailed research that helps answer business questions related to competitive intelligence, market analysis, and market trends. It also highlights each of the prominent factors responsible for the growth of the market are; demographics, increasing purchasing power, increasing demand, regulatory policies, product standards, and manufacturing standards.
According to the study, the global Vial Adaptors for Reconstitution Drug market size is expected to gain market growth in the forecast period of 2020 to 2026, with a CAGR of 5.6% in the forecast period of 2020 to 2026 and will expected to reach USD 1366.1 million by 2026, from USD 1099.1 million in 2019.
Vial adapters are a cost-effective solution for the safe and rapid transfer and reconstitution of drugs between vials and syringes. This report is segmented by Material Type, by Therapeutic Area, and by Geography.
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Some of the major players of the market are:
Baxter International Inc. (NYSE:BAX), West Pharmaceutical Services, Inc. (NYSE:WST), Unilife, Sensile Medical, Cardinal Health Inc. (NYSE:CAH), Becton Dickinson and Company (NYSE:BDX), B. Braun Medical, MedXL, Helapet, Nipro Pharma Packaging India, request free sample for complete list of companies.
The major factor attributing to the growth of the market increasing prevalence and incidence of chronic diseases like cancer, kidney diseases, and infectious diseases. According to World Health Organization(WHO), approximately 50,000 people are dying every day from infectious diseases and 30 new diseases have surfaced in the last 20 years and now together threaten the health of hundreds of millions of people. Furthermore, the growing awareness about the advantages of using vial adaptors and the rising number of geriatric population are the major factors boosting the market growth. However, the availability of substitutes is a major drawback of market growth.
Key Market Trends
The infectious diseases segment holds a major share in the global market.
– Infectious diseases are caused by pathogenic microorganisms, such as bacteria, viruses, parasites or fungi; the diseases can be spread, directly or indirectly, from one person to another.
– According to the Centers for Disease Control and Prevention, 15.5 million people are getting diagnosed for infectious diseases only in the United States. As the incidence and prevalence of infectious diseases increase the demand of the adapters increases.
– As per the statistics, the increase in the number of patients is directly proportional to the market growth. Thus, considering the rising prevalence of infectious diseases the market is expected to grow over the forecast period.
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North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the overall vial adaptors for the reconstitution drug market, throughout the forecast period. The market growth is due to factors such as the presence of key players, established healthcare infrastructure, and availability of branded drugs are some of the key factors accountable for its large share in the market. Furthermore, beneficial government initiatives and an increase in the number of research partnerships are some of the drivers expected to increase the market growth. The United States has a unique healthcare system among developed countries. However, the cost of hospitals is very high in the country; the government or private insurance covers it. The rising prevalence of chronic diseases in the country is the prime factor responsible for the growth of the market in the country.
Market Competitive Insights
-Feb 2020, Baxter International Inc. (BAX), a global medical products company and Spectral Medical Inc. (EDT.TO), a late-stage company Theragnostics advancing treatment options for sepsis and septic shock, announced a distribution agreement for TORAYMYXIN PMX- ™ 20R (PMX), a hemoperfusion filter, and (EAA) endotoxin Activity Assay ™, a companion diagnostic tool on the market that helps in risk assessment of patients in intensive care progression to severe sepsis.
Table of contents:
Part 1. Summary
Part 2. Report Methodology
Part 3. Market Overview
Part 4. Industry Value Chain
Part 5. Competitive Landscape
Part 6. Segmentation by Type
Part 7. Segmentation by Application
Part 8. Regional Perspectives
Part 9. Company Profiles
Part 10. Market Forecast
Part 11. Market Drivers
Part 12. Industry Activity
Part 13. Appendix
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