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  • Published On : Nov 2022
  • Code : CMI4313
  • Industry : Packaging
  • Pages : 120
  • Formats :

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 

Vaccine Storage and Packaging  | Coherent Market Insights          

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.

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Vaccine Storage and Packaging Market Report Coverage

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:
  • By Region: North America, Latin America, Europe, Asia Pacific, Middle East & Africa
Segments covered:
  • By Function: Storage (Storage Equipment and Service), Packaging (Packaging Material and Packaging Level)
Companies covered:

Corning Incorporated, Piramal Glass Private Limited, Schott AG, Amcor, AptarGroup Inc, DHL Group, FedEx, UPS, SF Express, and World Courier

Growth Drivers:
  • Rising demand for packaging & storage of vaccine due to the COVID-19 pandemic
Restraints & Challenges:
  • High initial investment

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

Vaccine Storage and Packaging  | Coherent Market Insights

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

  • In March 2021, Helmer Scientific, a medical device company specializing in specialized medical and laboratory equipment launched GX Solutions freezers for vaccines, blood therapy, and sample storage that are optimized for healthcare applications through noise reduction, temperature performance, and decreased energy use.
  • In December 2020, Tobin Scientific, nations's only fully-integrated single source provider of life science laboratory relocation and biorepository has entered into a partnership with PHCbi, a manufacturer of  ultra-low temperature freezers and biomedical refrigerator to address the unique transportation and storage requirements of COVID-19 vaccines and to use ultra-low temperature freezers for maintaining the correct temperature throughout transit.
  • In October 2020, DHL International GmbH, globalleader in the logistics industry has expanded its facilities by launching state-of-the-art storage facilities also in regions other than Germany. These healthcare-grade facilities will store an inventory of medical devices, vaccines, and pharmaceuticals.

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:

  • This report provides an in-depth analysis of global vaccine storage and packaging market, and provides market size (US$ billion) and compound annual growth rate (CAGR %) for the forecast period (2022-2030), considering 2021 as the base year.
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market.
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global vaccine storage and packaging market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study include Corning Incorporated, Piramal Glass Private Limited, Schott AG, Amcor, AptarGroup Inc, DHL Group, FedEx, UPS, SF Express, and World Courier
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future products launches, technology up gradation, market expansion, and marketing tactics
  • The global vaccine storage and packaging market report caters to various stakeholders in this industry including investors, suppliers, vaccine storage and packaging manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global vaccine storage and packaging market.

Detailed Segmentation:

  • Global Vaccine Storage and Packaging Market, By Function:
    • Storage (Storage Equipment and Service)
    • Packaging (Packaging Material and Packaging Level)
  •  Global Vaccine Storage and Packaging Market, By Region:
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Italy
      • France
      • Germany
      • Spain
      • Russia
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • ASEAN
      • Australia
      • Rest of Asia Pacific
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Middle East & Africa
      • Middle East
      • Africa
  • Company Profiles
    • Corning Incorporated *
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Piramal Glass Private Limited
    • Schott AG
    • Amcor
    • AptarGroup Inc
    • DHL Group
    • FedEx
    • UPS
    • SF Express
    • World Courier

 “*” marked represents similar segmentation in other categories in the respective section.

Frequently Asked Questions

Global vaccine storage and packaging market was valued at around US$ 8.39 Billion in 2021.
Rising demand for packaging & storage of vaccine due to the pandemic and increasing global population are expected to drive growth of the market.
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.
High initial investments required for the setup of new companies to provide products and services in the pharmaceutical industry can hamper growth of the market during the forecast period.
Major players operating in the market include Corning Incorporated, Piramal Glass Private Limited, Schott AG, Amcor, AptarGroup Inc, DHL Group, FedEx, UPS, SF Express, and World Courier.
The market is estimated to grow at around 10.2 % CAGR in the forecast period (2022-2030).

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