Crimp Top Cap Market: An Overview
Crimp top caps are used as closure solutions for vials to avoid leakage and contamination of drugs. These caps can be either pressure release or tear away caps lined with PTFE or silicone. The pressure release crimp top caps have their outer body made out of aluminum or PP while the inner part made out of rubber or silicone. Other than hospitals, laboratories, and scientific centers also use crimp top caps for storing specimens. Use of crimp top caps helps in controlling potential infection caused due to contamination.
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Crimp Top Cap Market: Dynamics
Vials are one of the most preferred formats for unit dose packaging; this has caused a significant rise in demand for vials in the global market. With this rise, the need for efficient sealing has also surged fueling the demand for crimp top caps. Rising concern regarding contamination of drugs during transportation has further resulted in propelled demand for crimp top caps. Furthermore, the crimp top cap market is anticipated to attain growth on the backdrop of expanding healthcare industry in both developed and developing countries. The tear away caps are expected to lead the charts and dominate the crimp top caps market as the demand for unit dose drugs is high.
The threat of substitutes is on the higher side as open-top caps, screw caps and other caps can be used as closure solutions for vials. Screw caps are easier to use as the thread structure ensures proper fitting and seal. This might hamper the demand for crimp top caps in the global market in the coming years. Moreover, the intensity of competition in the global crimp top cap market might be high as several regional and unorganized players are anticipated to enter the crimp top cap market during the forecast period. These players might not directly compete with the tier 1 players, but might cause a shift the pricing trends.
Manufacturers are incorporating innovative features to the crimp top seals. For instance, EMA Pharmaceuticals’ Smartseal has anti-counterfeiting features along with track & trace of the individual container or vial through RFID technology. This aids in effective inventory control, and enhances patient safety.
Crimp Top Cap Market: Regional Outlook
North America and Europe are cumulatively expected to dominate the global crimp top caps market in terms of value as well as incremental opportunity, owing to the established healthcare industry. Hospitals, laboratories, and clinics require safe & hygienic solutions for containing fluids, which is fuelling the demand for crimp top caps in the region. The emerging economies of Asia Pacific are expected to pose high growth opportunities attributing to the improving healthcare services in the region. Moreover, the government has introduced multiple healthcare schemes & programs which are expected to boost the sales of crimp top caps during the forecast period. The population of MEA and Latin America regions has witnessed a rise in awareness regarding safe storage of drugs as well as living standards in the past few years; this is anticipated to result in remunerative growth opportunities for the crimp top cap manufacturers operating in the region.
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Crimp Top Cap Market: Key Players
Examples of some of the key players operating in the global crimp top cap market are Chromatography Research Supplies, Specialty Silicone Products (SSP) Companies, Specialty Manufacturing, Inc., Sigma-Aldrich Co Ltd., Jinan Youlyy Industrial Co.,Ltd., EMA Pharmaceuticals among others.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on crimp top cap market segments and geographies.
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