Vaccine packaging is the process of securely packaging vaccines and medicines so that they keep their therapeutic potency from the time they are packaged. Vaccine packaging comprises vials, ampoules, prefilled syringes and bags & pouches, which is the initial level of packaging. The vaccine is bottled in glass vials and suitably packaged for safe cold storage and transportation when it is manufactured in bulk quantities. Vaccine packaging must be capable of sustaining high temperatures as well as the risks associated with international distribution. As a result, the most frequent material used to make vaccine vials is glass, which is both resilient and capable of maintaining its integrity in severe temperatures
Global vaccine storage and packaging market was valued at US$ 8.39 Billion in 2021 in terms of revenue, exhibiting a CAGR of 10.2 % during the forecast period (2022 to 2030).
Drivers
Due to rising infectious illness and infections there has been a high demand for vaccines over the globe, the global vaccine packaging and storage market is expected to drive the market over the forecasted period. Growing development in vaccine R&D by medical institutions, healthcare and pharmaceutical companies, as well as substantial involvement of the government in vaccination campaigns, have driven up the demand for vaccine packaging over the last years.
Due to rise in demand for immunization refrigerators is expected to drive the vaccine storage market. Companiesengaged in production of vaccine storage and packaging developing vaccine and immunization refrigerators owing to their ability to maintain the desired temperature for vaccines for up to 48 hours even without power. Moreover, the companies are also focusing on temperature-controlled refrigerators that are ideal for building an ecosystem for vaccine distribution, which is further propelling the growth of the global vaccine storage & packaging market.
The COVID-19 pandemic has had a huge impact on the global economy. In 2020, numerous countries across the world were under lockdown for extensive period of time. By the end of 2020, some countries have locked down their countries to safeguard themselves from the second wave of the infection. This situation has created enormous demand for vaccine, which in turn is driving the vaccine storage & packaging market growth at the global level.
Figure 1. Global Vaccine Storage and Packaging Market Value Share (%), By Region, 2021
Market Restraints
Packaging of vaccines is essential to protect the product until it reaches the end user. However, due to the significant importance of the product, numerous government policies have been introduced for companies operating in the vaccine manufacturing supply chain. For instance, in September 2020, the Drugs Controller General of India (DCGI) issued a set of guidelines for pharmaceutical companies manufacturing COVID-19 vaccines in India, to maintain the safety and efficacy parameters of the manufacturers. Such factors have resulted in high initial investment requirements for companies trying to enter the vaccine storage & packaging market, which is expected to hamper growth of the vaccine storage & packaging market globally.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2021 | Market Size in 2021: | US$ 8.39 Bn |
| Historical Data for: | 2017-2020 | Estimated Year: | 2022 |
| Forecast Period 2022 to 2030 CAGR: | 10.2 % | Forecast Period: | 2022-2030 |
| Geographies covered: |
|
||
| Segments covered: |
|
||
| Companies covered: |
Corning Incorporated, Piramal Glass Private Limited, Schott AG, Amcor, AptarGroup Inc, DHL Group, FedEx, UPS, SF Express, and World Courier |
||
| Growth Drivers: |
|
||
| Restraints & Challenges: |
|
||
Market Trends
Companies engaged in the packaging & storage of vaccines are adopting different strategies to increase their product offerings and services provided to capture a larger market share in 2021 due to high demand for COVID-19 vaccine, globally. For instance, on June 26, 2020, Schott AG, a German multinational glass company specializing in the manufacture of glass and glass-ceramics completed the delivery of 2 billion vials for the delivery of COVID-19 vaccines.
Figure 2. Global Vaccine Storage and Packaging Market Value Share (%), By Function, 2021
On the basis of function, the vaccine storage & packaging market is segmented into storage and packaging. In 2021, the storage segment accounted for 60% of the revenue share
Recent Developments
Competitive Section
Major players operating in the global vaccine storage & packaging market include Corning Incorporated, Piramal Glass Private Limited, Schott AG, Amcor, AptarGroup Inc, DHL Group, FedEx, UPS, SF Express, and World Courier.
Vaccine storage and packaging refer to various laboratory devices and equipment used to preserve, store and transport vaccines. Some of the commonly used vaccine storage equipment includes refrigerators and freezers that store vaccine vials, ampoules and corrugated boxes. The vaccines are packed and stored in individual containers and bundled together in cold boxes and carriers under cold chain facilities that regulate and maintain the desired internal temperature for ensuring safe transportation of the product. As a result, they find extensive applications across blood banks, hospitals, laboratories, pharmacies and other healthcare centers.
Market Dynamics
The increasing prevalence of various viral infections and immunological disorders across the globe represents one of the key factors driving the growth of the market. With the onset of the coronavirus disease (COVID-19), there is a significant increase in the requirement for efficient vaccine storage and packaging facilities. Furthermore, rising awareness regarding the early diagnosis and prevention of infectious diseases has enhanced the demand for protective vaccines, is also driving the market growth The demand for vaccine storage & packaging products and services will increase, owing to rising awareness regarding vaccinations of new born babies, which in turn will drive growth of the vaccine storage & packaging market.
Covid-19 pandemic has positively affected the vaccine storage and packaging market attributed to the lockdown in various countries worldwide. The major demand for vaccine storage and packaging products was noticed from giant manufacturing countries like U.S., Germany, Italy, U.K., China and India which have been affected by the spread of coronavirus, thereby increasing the demand for vaccine storage and packaging.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
Joining thousands of companies around the world committed to making the Excellent Business Solutions.
View All Our Clients