1. Factors such as the prevalence of infectious diseases, increased manufacturing of vaccines, outbreak of COVID-19, and growing acceptance of immunization are contributing to the growth of the vaccine storage and packaging market.
2. Improved cold chain infrastructure and improvements in the vaccine packaging material such as usage of BFS technology are providing immense opportunities to the pharma and biotech companies to enhance their quality of vaccine delivery.
3. The increasing government initiatives to promote immunization programs is propelling the growth of the market in the Europe and the region dominated the highest revenue share of around 34.24% in 2020.
4. The outbreak of COVID-19 acted as a catalyst for the global vaccine storage and packaging market as the demand for vaccines increased and consequently the demand for vaccine freezers, vials, ampoules etc., also increased.
5. As the market is concentrated, vendors are aiming to implement various strategies to maintain a competitive edge. There are only limited players including Gerresheimer, Panasonic Healthcare, Schott, Thermo Fisher Scientific, Stevanato, and Arctiko who are occupying the major share in the market.
Market Size & Forecast by Revenue | 2020−2026
Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation – A detailed analysis by type, end-users, and geography
Competitive Landscape – 6 key vendors and 23 other vendors
Vaccine Storage and Packaging Market – Segmentation
In 2020, the vaccine packaging segment accounted for a revenue share of 68.86% in the global vaccine storage & packaging market. In general, the term packaging means the bottling or wrapping of products to eliminate the risk of damage and keep them safe during their storage and transportation.
In 2020, the pharma & biotech companies segment accounted for a revenue share of 38.22% in the global vaccine storage & packaging market. Pharmaceutical refrigerators and freezers comprise a lot of other applications. Although the selected refrigerator includes a freezer compartment, the CDC strongly discourages the use of combination refrigerator-freezers for any type of vaccine storage.
The pipeline portfolio of companies is strong for diseases such as HIV/AIDS, Malaria, and pneumococcal infections. The correct preservation of drugs, vaccines, serum, blood, tissues, transplanted organs, and many other items is necessary to guarantee the best conditions for treatment and prevention activities in the field of medicine.
Vaccine Storage and Packaging Market by Type
Vaccine Storage and Packaging Market by End-User
Pharma & Biotech Companies
Vaccine Storage and Packaging Market – Dynamics
The pharmaceutical supply chain has logistics, manufacturers, and patients forming a triangle. It has the logistics organization on the top of moving products, and then packaging providers contribute to keeping the products safe for the supply chain, which is then followed by monitoring companies that confirm to deliver the products, maintaining the right temperature of the packages or storge container. Companies are now using different data and digitalization to improve their process and respond swiftly. The supply chain optimization helps in risk reduction in real-time, as one can view shipments in a while and identify the potential risk, thus preventing several supply chain concerns. Packaging companies utilize data to generate the right packaging and shipping design for a specific supply chain so that costs can be reduced throughout the process. The additional data gathered in the packaging world can be used in driving action, allowing users to track their assets.
Key Drivers and Trends fueling Market Growth:
Improvement in the Quality of Packaging Material
Strong Portfolio of Key Companies for COVID-19 Vaccine
Prevalence of Infectious Diseases and Immunology Disorders
Growing Government Initiatives to Promote Immunization & its Awareness
Vaccine Storage and Packaging Market – Geography
North America accounted for a share of 31.18% in the global vaccine storage & packaging market in 2020. After the invention of the smallpox vaccine, the vaccines have greatly eliminated the prevalence of diseases everywhere in the world. Immunological diseases affect about 5% of individuals in developed countries like the US, Canada, the UK, Italy, etc. Although the occurrence of most autoimmune diseases is quite low, their individual incidence has significantly heightened over the past few years, as recorded for type 1 diabetes and multiple sclerosis. Several immunological disorders arise in individuals in age groups that are often selected as targets for vaccination programs. The US supports many public agencies and programs that are involved in vaccine-related activities.
Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.