The global prefilled formalin vials market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). The market is driven by growing awareness of infectious diseases and the need for robust infection control procedures in all health care settings, the growing number of new medical equipment being brought to hospitals, and the growing demand for international autopsy services from different countries. Prefilled formalin vials market size is expected to record significant growth due to the wide range of use of the material in biopsies performed in operating rooms, pathology laboratories, and other healthcare facilities.
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Moreover, the growth of global prefilled formalin vials depends mainly on factors such as the increase in the number of adults, the increasing demand for advanced diagnostic and medical services, and the growing research activities. In addition, with an increasing number of educational institutions and hospitals, the rising incidence of brain tissue cases is expected to boost the prefilled formalin vial market. Therefore, government support contributes to the growth of the biotechnology industry and regional health care by providing tax exemptions for R&D, such as budget increases and funding and attracting foreign direct investment, with the growth in the number of pharmaceutical industries and the advancing veterinary industry, prefilled formalin vials experience increased demand from these end-user facilities.
According to the WHO (World Health Organization), more than 1.3 million mortalities occurred as a result of road accidents, while more than 20 million to 50 million people have received non-fatal injuries, thus increasing the need for hospitalization. Given this increase in hospital admissions, the risk of hospital-acquired infections will also increase, increasing the need for antibiotics such as formaldehyde, which may increase the demand for pre-filled vials. For instance, in July 2021, the UK government launched the process of selecting eight new hospitals in the region, as part of the largest hospital-building program. Through this program, the government is providing support to the NHS to fulfill its obligation to build 40 new hospitals across England by 2030, a step based on an initial investment of $ 4.18 billion. Developments like these, coupled with an increase in cancer research activities in such areas, will add tremendous impetus to the growth of the prefilled formalin vials industry during the forecast period.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By End-Users
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape-Azer Scientific, Inc, Genta Environmental Ltd, Global Scientific Inc, Cardinal Health Inc.,and Merck & Co., Inc., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Prefilled Formalin Viral Market Report by Segment
By Type
- <10 mL
- 10-20 mL
- 20-50 mL
- 50-100 mL
- 100-500 mL
- Above 500 mL
By End-Users
- Hospitals
- Clinics
- Academic Institutes
- Forensic Laboratories
- Others
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