Global Vaccine Storage And Packaging Market Overview
The Vaccine Storage And Packaging Market Size was estimated at 18.64 (USD Billion) in 2022.The Vaccine Storage And Packaging Industry is expected to grow from 19.41(USD Billion) in 2023 to 28.0 (USD Billion) by 2032. The Vaccine Storage And Packaging Market CAGR (growth rate) is expected to be around 4.15% during the forecast period (2024 - 2032).
Key Vaccine Storage And Packaging Market Trends Highlighted
The Vaccine Storage And Packaging Market is experiencing growth owing to enhanced vaccination rates, new technology, and widespread vaccination programs. Frost Sullivan anticipates significant market growth on the horizon. Factors such as heightened knowledge about vaccine-preventable diseases, immunization-supporting efforts of the governing bodies and the necessity of fast and easy methods for vaccine distribution and storage are influencing the growth of the market.
There have been recent developments in the market with the use of smart packaging, such as temperature-controlled containers and data loggers, for secure packaging of vaccines during the storage and transportation phases. Further, there is an increasing concern for the use of eco-friendly packaging from the existing cheap bio vaccines and vaccines that can be easily accessed from different locations. Areas that deserve further consideration are the creation of product-specific vaccines, integration of newer technologies such as RFID and IoT, and joint ventures of vaccine industries with vaccine packaging industries.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Vaccine Storage And Packaging Market Drivers
Growing Demand for Vaccines
The rising incidence of infectious diseases and the increasing focus on preventive vaccinations are stimulating the need for vaccines. The World Health Organization (WHO) reports that as many as 2.7 million people died from diseases that could have been prevented by vaccines in 2019. Vaccine sales are expected to grow, alongside population growth, and as new prevention vaccines come into the market. The Vaccine Storage And Packaging Market Industry says the regional markets will gain new impetus to development trends and promising growth rates.
Technological Advancements in Vaccine Storage and Packaging
The evolution of the methods and equipment for the preservation of vaccines has also allowed for vaccine storage and transportation. The boom in new technologies such as real-time monitoring as well as controlled temperature packaging is expected to propel the future growth of the Vaccine Storage And Packaging Market Industry.
Government Initiatives to Improve Vaccination Coverage
Also, the Vaccine Storage And Packaging Market Industry is experiencing significant growth due to the government’s efforts to enhance vaccination coverage. Vaccination programmes are being instituted in various countries to ensure that more individuals are vaccinated against diseases. This trend is expected to persist benefiting demand for vaccination as well as for the storage and packing of the vaccines.
Vaccine Storage And Packaging Market Segment Insights
Vaccine Storage And Packaging Market Storage Equipment Type Insights
The Vaccine Storage And Packaging Market is segmented by storage equipment type into refrigerators, freezers, cryogenic storage units, and ultra-low temperature freezers. The refrigerators segment is expected to experience the highest growth rate of the four categories, as vaccine storage at refrigeration temperatures is in high demand, and vaccine producers need reliable and efficient storage solutions. The segment is expected to account for the highest market share in 2023, as the market for refrigerated vaccines is growing. The freezers segment is expected to experience high growth during the midterm, as the market demand for frozen vaccines.The portion of cryogenic storage units will apparently be lower than the first two, but demand will be medium, as long-term storage of vaccines at the required temperature is necessary. Ultra-low temperature freeze segment, in turn, will have the slowest growth of the four, as the market is already expanding in comparison to other market categories, as vaccines that need to be stored at ultra-low temperatures are in demand in the world market.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Vaccine Storage And Packaging Market Packaging Type Insights
The Packaging Type segment of the Vaccine Storage And Packaging Market is expected to reach USD 12.5 billion by 2024, growing at a CAGR of 5.6% during the forecast period. The growth of the segment is attributed to the increasing demand for vaccines and the need for proper storage and packaging to maintain their efficacy. Vials are the most common type of packaging used for vaccines, and they are expected to continue to dominate the market over the forecast period. Syringes are also widely used, especially for prefilled vaccines, and their market share is expected to grow steadily in the coming years.Prefilled syringes offer convenience and accuracy in vaccine administration, making them a preferred choice for healthcare providers. Bulk packaging is used for large-volume vaccines, and its market share is expected to remain stable over the forecast period. Bulk packaging is cost-effective and suitable for vaccines that are not sensitive to temperature or light. The choice of packaging type depends on factors such as the vaccine's stability, dosage form, and route of administration.
Vaccine Storage And Packaging Market Vaccine Type Insights
The Vaccine Storage And Packaging Market is segmented by vaccine type, which includes mRNA Vaccines, DNA Vaccines, Protein-Based Vaccines, and Viral Vector Vaccines. Among these, mRNA Vaccines held the largest market share in 2023, and it is expected to continue its dominance throughout the forecast period. The growth of the mRNA Vaccines segment can be attributed to the increasing adoption of mRNA technology in vaccine development, particularly for COVID-19 vaccines. DNA Vaccines are also gaining traction due to their potential for rapid development and low production costs.Protein-based vaccines have been widely used for decades and continue to be an important segment of the market. Viral Vector Vaccines are another promising segment, with several vaccines in development for various infectious diseases. The Vaccine Storage And Packaging Market segmentation provides valuable insights into the market dynamics and helps stakeholders make informed decisions.
Vaccine Storage And Packaging Market Application Insights
The Application segment plays a crucial role in shaping the dynamics of the Vaccine Storage And Packaging Market. Human Vaccines and Animal Vaccines are two prominent sub-segments within this market, each with its unique set of requirements and growth prospects. The Human Vaccines sub-segment held a significant share of the Vaccine Storage And Packaging Market revenue in 2023, and it is projected to maintain its dominance throughout the forecast period. The increasing prevalence of infectious diseases, coupled with ongoing vaccination campaigns, is driving the demand for effective vaccine storage and packaging solutions.Additionally, the rise in biologics and mRNA vaccines, which require specialized storage conditions, is further fueling the growth of this sub-segment. On the other hand, the Animal Vaccines sub-segment is also poised for significant growth in the coming years. The growing demand for animal-based food products is leading to increased vaccination rates in livestock, poultry, and companion animals. This sub-segment is expected to benefit from the development of innovative vaccine delivery systems and advancements in animal health technologies. Overall, the Application segment offers a comprehensive view of the Vaccine Storage And Packaging Market, highlighting the factors driving growth in each sub-segment.By understanding these insights, market participants can tailor their strategies to capture growth opportunities and meet the evolving needs of the industry.
Vaccine Storage And Packaging Market End User Insights
The end-user segment of the Vaccine Storage And Packaging Market plays a crucial role in shaping the market dynamics and growth trajectory. Hospitals and clinics, pharmacies, government agencies, and research institutions are the key end users of vaccine storage and packaging solutions. Hospitals and clinics account for a significant share of the market, driven by the need for proper storage and distribution of vaccines to ensure patient safety and vaccine efficacy. Pharmacies also hold a substantial market share, catering to the growing demand for convenient access to vaccines and personalized healthcare services.Government agencies responsible for public health initiatives and immunization programs contribute to market growth by investing in vaccine storage and distribution infrastructure. Research institutions engaged in vaccine development and clinical trials require specialized storage and packaging solutions to maintain vaccine integrity during the research and testing phases. The Vaccine Storage And Packaging Market segmentation provides valuable insights into the specific needs and preferences of each end-user group, enabling manufacturers to tailor their products and services accordingly.
Vaccine Storage And Packaging Market Regional Insights
The regional segmentation of the Vaccine Storage And Packaging Market presents unique insights into market growth and industry trends. North America currently dominates the market, with a revenue share of 38.4% in 2023 and is projected to maintain its lead, reaching a valuation of USD 11.63 billion by 2032, expanding at a CAGR of 4.4%. Europe follows closely, accounting for 29.2% of the market in 2023, with a projected valuation of USD 8.9 billion by 2032, growing at a CAGR of 4.2%. APAC exhibits significant growth potential, expected to reach a valuation of USD 5.5 billion by 2032, expanding at a CAGR of 4.9%.South America and MEA also contribute to the market, with projected valuations of USD 1.3 billion and USD 1.2 billion by 2032, respectively. These regional insights aid in understanding market trends and tailoring strategies for specific geographic segments.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Vaccine Storage And Packaging Market Key Players And Competitive Insights
Key market players in the Vaccine Storage And Packaging Market industry are following strategies that help them gain a competitive edge in the market. Some of the leading Vaccine Storage And Packaging Market players are making great efforts to introduce new products in the market and acquire new customers. More so, these players can be identified to be making efforts to enter into partnerships, mergers and acquisitions, and strategic growth plans in order to capture a larger share of the market as well. This helps the growth of the Vaccine Storage And Packaging Market as the development and the business strategies that these players employ lead to an acceleration of the pace of growth in the market in the market.
It can be deduced that Thermo Fisher Scientific is a major player in the Vaccine Storage And Packaging Market. The main reason for this is that this company offers the greatest number of products in the Vaccine Storage And Packaging Market. The products of Thermo Fisher Scientific include refrigerators, freezers, and transportation systems. Thermo Fisher Scientific has strong ties with many distributors across the globe. The company takes pride in the delivery of products and solutions to the customers according to their specific needs for the storage of vaccines. Furthermore, the company adheres to regulations and international requirements and codes for quality, safety, and efficacy in the manufacturing of its products.
A key competitor in the Vaccine Storage And Packaging Market is Becton, Dickinson and Company. The company’s products consist of vials, syringes, and needles. More so, Becton, Dickinson and Company are involved in research and development, which it invests a great deal into. The company has a good relationship with a large number of distributors across the globe. The adherence of the company to regulations and international requirements and codes is to assure the customers of the safety, quality, and efficacy of the company’s products.
Key Companies in the Vaccine Storage And Packaging Market Include
- Haier Biomedical
- Pall Corporation
- Sartorius AG
- PHC Corporation
- Eppendorf SE
- Thermo King
- Helmer Scientific
- Corning Incorporated
- STERIS plc
- Danaher Corporation
- Expedite International
- Lonza Group AG
- Thermo Fisher Scientific
- HiMedia Laboratories
- Becton, Dickinson and Company
Vaccine Storage And Packaging Market Industry Developments Pfizer and BioNTech's mRNA Vaccine: The successful development and distribution of the Pfizer-BioNTech COVID-19 vaccine has highlighted the critical role of effective vaccine storage and packaging solutions. Government Initiatives: Governments worldwide are investing in vaccine infrastructure, including storage and packaging facilities, to ensure equitable access to vaccines during pandemics and routine immunization programs. Technological Innovations: Advancements in temperature-controlled packaging, such as thermal shippers and cryogenic storage systems, are enhancing vaccine stability and extending their shelf life. Increased Demand for Single-Dose Vaccines: The rise of single-dose vaccines for conditions like COVID-19 and influenza is driving demand for smaller and more portable packaging solutions. Sustainability Concerns: The industry is exploring eco-friendly packaging options to reduce environmental impact, such as biodegradable materials and reusable containers.These developments indicate a growing focus on ensuring the safe and effective storage and packaging of vaccines to meet the increasing global demand for immunization.
Vaccine Storage And Packaging Market Segmentation Insights
- Vaccine Storage And Packaging Market Storage Equipment Type Outlook
- Refrigerators
- Freezers
- Cryogenic Storage Units
- Ultra-low Temperature Freezers
- Vaccine Storage And Packaging Market Packaging Type Outlook
- Vials
- Syringes
- Prefilled Syringes
- Bulk Packaging
- Vaccine Storage And Packaging Market Vaccine Type Outlook
- mRNA Vaccines
- DNA Vaccines
- Protein-Based Vaccines
- Viral Vector Vaccines
- Vaccine Storage And Packaging Market Application Outlook
- Human Vaccines
- Animal Vaccines
- Vaccine Storage And Packaging Market End User Outlook
- Hospitals and Clinics
- Pharmacies
- Government Agencies
- Research Institutions
| Report Attribute/Metric |
Details |
| Market Size 2022 |
18.64(USD Billion) |
| Market Size 2023 |
19.41(USD Billion) |
| Market Size 2032 |
28.0(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
4.15% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Haier Biomedical, Pall Corporation, Sartorius AG, PHC Corporation, Eppendorf SE, Thermo King, Helmer Scientific, Corning Incorporated, STERIS plc, Danaher Corporation, Expedite International, Lonza Group AG, Thermo Fisher Scientific, HiMedia Laboratories, Becton, Dickinson and Company |
| Segments Covered |
Storage Equipment Type, Packaging Type, Vaccine Type, Application, End User, Regional |
| Key Market Opportunities |
Personalized storage solutions Temperature monitoring technologies Smart packaging for vaccine potency Digital connectivity for remote monitoring Advanced materials for enhanced stability |
| Key Market Dynamics |
Rising demand for vaccines, technological advancements, growth in the biopharmaceutical industry, expanding cold chain infrastructure, increasing focus on vaccine safety |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Vaccine Storage And Packaging Market is expected to reach USD 28.0 billion by 2032, exhibiting a CAGR of 4.15% from 2024 to 2032.
North America is expected to dominate the Vaccine Storage And Packaging Market share throughout the forecast period.
Vaccine storage and packaging are primarily used for the storage and transportation of vaccines, ensuring their potency and efficacy.
Key competitors in the Vaccine Storage And Packaging Market include Thermo Fisher Scientific, Merck, Becton, Dickinson and Company, and Corning Incorporated.
Rising demand for vaccines, increasing healthcare expenditure, and technological advancements in vaccine storage and packaging are driving the market growth.
Temperature sensitivity of vaccines, stringent regulatory requirements, and counterfeit vaccines pose challenges to the market.
Smart packaging, real-time monitoring, and sustainable packaging solutions are emerging trends in the vaccine storage and packaging market.
The COVID-19 pandemic has accelerated the demand for vaccine storage and packaging, driven by the need for large-scale vaccine distribution.
Expansion into emerging markets, development of innovative packaging solutions, and collaborations with pharmaceutical company’s present growth opportunities in the market.
Key strategies include product innovation, geographical expansion, strategic partnerships, and mergers and acquisitions.
