With an estimated valuation of US$ 1.3 billion in 2022, the global vaccine packaging market is poised for significant expansion, projected to achieve a remarkable US$ 3.5 billion by 2030, reflecting a robust compound annual growth rate (CAGR) of 13.2% over the forecast period from 2022 to 2030. This surge in market value underscores the increasing importance of efficient and innovative vaccine packaging solutions in response to the escalating global demand for vaccines. The growth trajectory signals a pivotal role for the vaccine packaging sector in supporting and enhancing the distribution and accessibility of crucial vaccines worldwide.
The surge in the global vaccine packaging market is driven by a heightened demand from critical end-use sectors, including diagnostic centers, hospitals, research programs, and various healthcare units. On a global scale, North America and Europe emerge as the key regions witnessing substantial demand for vaccines within the end-use segment. Projections indicate that by 2030, North America and Europe are poised to maintain dominance, collectively accounting for around 50% of the market’s value share in the thriving global vaccine packaging market. This underscores the pivotal role these regions play in shaping the trajectory of vaccine packaging industry growth.
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Vaccine Packaging Market: Competitive Analysis
The latest study by FMI presents a detailed view on the market players operating in the Vaccine Packaging market. With an in-depth analysis on positioning of prominent players as well the players emerging in the industry, the FMI offers a detailed SWOT analysis for the market players over the forecast period.
Key players profiled by FMI in Vaccine Packaging market includes:
- Gerresheimer AG
- West Pharmaceutical Services, Inc.
- Becton, Dickinson & Company
- SCHOTT AG
- SGD S.A.
- Catalent, Inc
- Stevanato Group
- Nipro Corporation
- Piramal Glass Private Limited
- UDG Healthcare plc
For instance,
- In January 2022, Gerresheimer is improving its capacity for glass vials at its Wertheim site as well as at two other locations in China and the United States. The company is investing in Wertheim production to increase vial capacity by 150 Mn vials per year, with plans to create 70 new jobs in the process.
- In October 2021, Becton Dickinson expands syringe production in the US. It claimed that it had decided to add production lines for safe operation injection devices at its Nebraska facility in order to increase stock of syringes as the US enters the flu vaccination period while giving patients COVID-19 jabs.
- In March 2021, SCHOTT reached a significant milestone, 1 billion COVID 19 vaccine doses in vials. The vials have been sent to organizations all around the world, with a special priority on Europe, the United States, and China. 90% of certified vaccinations utilize SCHOTT vials.
Growth Factors for Vaccine Packaging Market
The global surge in vaccine demand is propelled by the increasing prevalence of infectious diseases and concerted efforts to advocate and execute vaccination programs. This has led to a heightened demand for vaccines across diverse end-use sectors, fostering the momentum of the global vaccine packaging market. Robust advancements in vaccine research and development by medical institutions, pharmaceutical companies, and healthcare entities, coupled with significant government involvement in vaccination initiatives, have collectively contributed to the escalating need for efficient and innovative vaccine packaging solutions in recent years.
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Vaccine Packaging Market: Segmentation
Detailed analysis covered in the FMI’s Vaccine Packaging market report has been classified into key segments and sub-segments.
Packaging Type
- Vials
- Prefilled Syringes
- Ampoules
- Bags and Pouches
Material
- Plastic
- Glass
- Polystyrene
- Others (Metallic Films)
The Impact of Vaccine Packaging on Global Healthcare
In this section, we explore the profound impact of vaccine packaging on global healthcare and its role in shaping public health outcomes.
Enhancing Vaccine Distribution in Remote Areas
Vaccine packaging innovations have the potential to improve the distribution of vaccines to remote and underserved regions, strengthening healthcare systems and protecting vulnerable populations.
Mitigating Vaccine Wastage
Vaccine wastage is a significant concern in healthcare. How can innovative packaging solutions reduce vaccine wastage and maximize the number of people immunized?
Combating Counterfeit Vaccines
Counterfeit vaccines pose a severe threat to public health. Discover how advanced packaging technologies can help in the fight against counterfeit products.
Supporting Future Vaccination Campaigns
As the world faces new health challenges, vaccine packaging will play a pivotal role in supporting future vaccination campaigns. Explore the possibilities of flexible and adaptable packaging solutions.
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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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