Prefilled Formalin Vials Market Envisions Striking Surge, Projected Valuation of US$ 515.8 Million by 2028

Prefilled Formalin Vials Market

The prefilled formalin vials market sale was projected to be valued US$ 388.3 million in 2021; at a compound yearly growth rate of 4.1%, this market is predicted to reach US$ 515.8 million by 2028.

This market is at the forefront of transforming specimen preservation in pathology, providing a convenient and efficient solution for formalin storage. The prefilled vials offer a ready-to-use and standardized approach, streamlining the specimen handling process in various medical applications. As the demand for reliable and efficient specimen preservation methods continues to rise, the Prefilled Formalin Vials Market is positioned to play a crucial role in advancing pathology practices.Formalin is a derivative of formaldehyde, and prefilled formalin vials are used for tissue fixation.

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Prefilled Formalin Vials Market: Overview

According to the new European rules and guidelines, it is essential to protect the environment and the health of the workers who work in an environment where they are directly exposed to aldehydes.

Emission of formalin fumes in pathology labs can lead to serious health hazards. The discharge of these fumes can be avoided by using chemical hoods, particularly in operation theatres, where formalin is mostly used.

The need to lower the level of formalin emission has surged the demand for prefilled formalin vials, and the growth of the prefilled formalin vials market.

In the medical ambulatories including ambulatory surgical centers where small biopsies are performed, the challenges associated with formalin usage are dealt primarily by using prefilled formalin vials or tubes.

Direct exposure to formalin increases the risk of developing cancer. Prefilled formalin vials limit the risk of direct exposure to formalin.

This factor, in particular, is likely to play an instrumental role in driving the growth of the prefilled formalin vials market.

The prefilled formalin vials can be used for diversified applications in distinct end-use settings such as forensic labs, CROs, emergency medical services, diagnostic laboratories, and veterinary laboratories, among others.

Formalin being a cost-effective method of histopathological diagnosis plays a vital role in the healthcare industry, as it cuts down the unnecessary costs associated with the procedural changes related with the usage of new alternative fixatives.

In the European Union (EU) in 2021, 971,000 workers were estimated to be exposed to formaldehyde above the background level.

Out of these, 175,380 were registered in Italy. Formaldehyde is commonly known to have acute toxicity, resulting in sensory irritation in the eyes and upper respiratory tract.

The demand for formalin from veterinary clinics and forensic laboratories has remained stable, but is likely to decline in the near future.

This is primarily to due to strict regulations regarding the usage of formalin across the globe.

Prefilled Formalin Vials Market: Key Players

The report tracks some of the key companies operating in the prefilled formalin vials market, such as Diapath S.p.A, Histo- Line Laboratories Srl, Cardinal Health, Inc., Leica Microsystems Sales GmbH (Leica Biosystems Nussloch GmbH), Genta Environmental Ltd., Carl Roth GmbH + Co. KG, Magnacol Ltd., Serosep Limited, Ultident Scientific and Solmedia Limited.

Prefilled Formalin Vials Market: Segmental Analysis

Prefilled formalin vials are commercially available in different packaging forms in the global prefilled formalin vials market.

Of these, 90 – 500 mL prefilled formalin vials are high in demand in the global prefilled formalin vials market, owing to the fact that there is no alternative fixative validated to be served as formalin replacement.

Likewise, the 40 – 60 mL prefilled formalin vials segment is also projected to hold significant revenue share as their adoption is increasing in diagnostic and forensic laboratories.

Diagnostic laboratories and CROs performing cancer research and diagnostics are the primary consumers of prefilled formalin vials.

According to FMI, the contract research organizations segment accounted for over 28.8% revenue share in the global prefilled formalin vials market in 2021.

Formalin is a cost-effective method of histopathology diagnostic in the West and East Asia, owing to which the demand for prefilled formalin vials has increased in the region.

Furthermore, the growing incidence of cancer in Asia Pacific due to changing lifestyle of people is likely to boost the growth of the prefilled formalin vials market in the region.

Presence of large number of companies with sole focus on providing high-quality prefilled formalin vials and rising disposable income in Japan are factors expected to surge the demand for prefilled formalin vials in the country.

FMI has segmented the global prefilled formalin vials market based on product type and end users.

In terms of revenue, the 90 – 500 mL product type segment in the prefilled formalin vials market is expected to hold significant share over the forecast period.

In contrary, the <10 mL product type segment in the prefilled formalin vials market is expected to exhibit limited investment opportunities, in terms of revenue, through 2028.

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Prefilled Formalin Vials Market by Category

By Product:

• <10 mL
• 10 – 20 mL
• 20 – 40 mL
• 40 – 60 mL
• 60 – 90 mL
• 90 – 500 mL
• 500 mL – 1 lit.

By End User:

• Hospitals
• Clinics
• Emergency Medical Services
• Diagnostic Laboratories
• Academic Institutes
• Forensic Laboratories
• Contract Research Organizations
• Veterinary Clinics
• Veterinary Laboratories
• Veterinary Hospitals

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• APEJ
• Japan
• MEA

Author By:

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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