Vial Adaptors For Reconstitution Drug Market Size

Vial Adaptors For Reconstitution Drug Market Analysis

The Vial Adaptors for Reconstitution Drug Market is poised to witness a CAGR of 7.3% during the forecast period.

The market was affected by the COVID-19 pandemic. During the initial phase, the lockdown and away from other drugs adversely impacted the market. However, with the approval of the vaccine, the market started to grow. For instance, in November 2022, an article published in the National Library of Medicine stated that the choice of the vaccine packaging type, either a single- or multi-dose vial, is a crucial determinant of vaccine coverage. Due to this, the adoption of vial adaptors is expected to increase, which is expected to increase market growth over the forecast period.

The major factor contributing to the growth of the market is the increasing prevalence and incidence of chronic diseases and infectious diseases. According to the study published in the National Center for Biotechnology Information updated in August 2021, 19.5% of patients in ICU had at least one Hospital Acquired Infection. These infections can be acquired from other patients, hospital staff, or the hospital textiles such as curtains. Similarly, the Sexually Transmitted Infections Treatment Guidelines, 2021, published by the Centers for Disease Control and Prevention, stated that genital herpes is a chronic, lifelong viral infection. Two types of HSV can cause genital herpes: HSV-1 and HSV-2. Most cases of recurrent genital herpes are caused by HSV-2, and 11.9% of persons aged 14-49 years are estimated to be infected in the United States (436). Thus, the increasing prevalence of infectious diseases is expected to increase the consumption of drugs, which is expected to increase market growth over the forecast period.

Furthermore, the growing awareness about the advantages of using vial adaptors is the major factor boosting the market growth. For instance, in September 2021, an article published in the National Library of Medicine stated that chemotherapy drug wasting is a huge problem in oncology that not only results in excessive expenses on chemotherapy drugs but also increases the cost of disposing of chemotherapy waste and the risk of occupational exposure in the environment. However, employing a real-time vial-sharing strategy using an intelligent robot to dispense multiple prescriptions simultaneously is cost-effective. Additionally, this approach presented no safety issue concerns, such as the introduction of impurities to sterile compounding via repeated interspersing or the incorrect registration of information during drug storage, often encountered with traditional vial-sharing strategies. Thus, such research studies are expected to increase market growth over the forecasting period.

However, the availability of substitutes is a major drawback of market growth.