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Vaccine Storage & Packaging Market Growth, 2027 | Industry Report

Vaccine Storage & Packaging Market Analysis Report By Function, By Region And Segment Forecasts From 2020 To 2027

Report ID: MN17620183  |  Published: October 2020  |  No of Pages: 110
Format: Electronic (PDF)  |  Industry: Laboratory Equipment  |  Publisher: Grand View Research

Industry Insights

The global vaccine storage and packaging market generated a revenue of USD 20.3 billion in 2019. It is also estimated to register a 10.0% CAGR from 2020 to 2027. The rising number of investments undertaken by biopharmaceutical companies and healthcare institutions to carry out R&D is projected to drive the market growth.

Several statutory governing bodies are implementing vaccine awareness programs at local levels. For example, the U.S. government has started supporting many public programs and agencies that are involved in vaccine distribution activities. Also, a hundred million dollars are being spent every year by the U.S. government for vaccine development, purchase and distribution. Thus, the market is expected to witness lucrative growth in the upcoming years.   

The U.S. vaccine storage and packaging market Biopharmaceutical companies are facing several problems like lack of packaging capabilities, in-house storage, budget constraints, and expertise required for the smooth operation of the supply chain. Thus, they have started relying on their party sources for packaging & distributions of the vaccines. Also, the linear growth of immunization across the world is estimated to trigger market growth. For example, in 2018, the coverage of the DTP3 (Diphtheria-tetanus-pertussis) vaccine was about 86.0%, as stated by WHO.

Function Insights

In 2019 the segment of storage accounted for the largest share of around 58.8% across the global vaccine storage & packaging market. The rising demand for services and equipment for vaccine storage is projected to propel the market growth. Further, the sub-segment of services is expected to trigger market growth since the majority of the biopharmaceutical organizations have started hiring third party transportation services and warehouses.

The packaging material segment is classified into vials, vaccine bags, corrugated boxes, ampoules, and others. The sub-segment of vials, vaccine bags, ampoules is projected to account for the largest share in the upcoming years due to its compatibility with several sensitive materials. Further, the segment of the packaging level is classified into primary, secondary & tertiary levels. The segment of primary packaging level accounted for the largest share across the global market in 2019. It is also projected to register faster growth in the upcoming years due to more cost incurred in the development and designing of primary packaging.

Regional Insights

In 2019, Europe accounted for the largest share across the global market. The increasing number of awareness programs for enhancing the process of vaccination coupled with the surging number of research activities undertaken for vaccine development is expected to contribute majorly towards market growth across this region. Moreover, the increasing prevalence of infectious diseases due to cold climatic conditions and the surging number of several logistic operators is anticipated to propel the market growth.

Global vaccine storage & packaging market

MEA is anticipated to propel faster growth from 2020 to 2027. This can be attributed to the increasing expenditure on healthcare infrastructure by governing authorities across this region. Moreover, the availability of laborers, the increasing need for immunization programs, and the rising number of communicable diseases are also projected to fuel up the market growth.

COVID-19 Impact Analysis

The vaccine storage and packaging market has been positively impacted due to the COVID-19 pandemic. The intake of immunity-boosting medicines and syrups has increased significantly since the start of the pandemic. Thus, there has been a substantial rise in the requirement for packaging solutions. Also, as the COVID-19 vaccine trials are nearing final stages, the governments have started planning for vaccine distributions among their citizens. Therefore, the demand for vaccine storage and packaging solutions is expected to trigger over the post-pandemic period.

Vaccine Storage & Packaging Market Share Insights

The global market includes key players such as DHL, Lineage Logistics, Cardinal Logistics, AmerisourceBergen, DB Schenker, McKesson, Arctiko A/S, American Biotech Supply, NIPRO, and Thermo Fischer Scientific. Continuous innovation and product development are being undertaken by these players to widen their geographical reach.

Strategies such as acquisitions and mergers are being undertaken by key players for widening the reach of their products. Presently, the market is fragmented in nature but is expected to gain traction in the upcoming years owing to the rising awareness about hygiene for medicines and increasing demand for recyclable packaging.

Report Scope

Attribute

Details

Market size value in 2020

USD 22.3 billion

Revenue forecast in 2027

USD 43.3 billion

Growth Rate

CAGR of 10.0% from 2020 to 2027

Base year for estimation

2019

Actual estimates/Historic data

2016 - 2018

Forecast period

2020 - 2027

Quantitative Units

Revenue in USD million and CAGR from 2020 to 2027

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Function, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

The U.S.; Canada; The U.K.; Germany; France; Italy; Spain; China; India; Japan; Australia; South Korea; Brazil; Mexico; Argentina; Columbia; Chile; South Africa; Saudi Arabia; UAE; Israel; Egypt

Key companies profiled

Lineage Logistics; AmerisourceBergen; DHL; DB Schenker; Cardinal Logistics; McKesson; Thermo Fischer Scientific; PANASONIC HEALTHCARE CO., LTD.; American Biotech Supply; Arctiko A/S; NIPRO

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs.


Segments Covered in the Report
 

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends from 2016 to 2027 in each of the sub segments. For the purpose of this study, Million Insights has segmented the global vaccine storage & packaging market on the basis of function and region:

• Function Outlook (Revenue, USD Million, 2016 - 2027)
    • Storage
        • Storage equipment
            • Refrigerator
            • Freezer
            • Others
        • Service
            • Warehouse storage
            • Transportation
    • Packaging
        • By Packaging Material
            • Vaccine bags, vials, ampoules
            • Corrugated boxes
            • Others
        • By Packaging Level
            • Primary
            • Secondary
            • Tertiary

• Regional Outlook (Revenue, USD Million, 2016 - 2027)
    • North America
        • The U.S.
        • Canada
    • Europe
        • The U.K.
        • Germany
        • France
        • Italy
        • Spain
    • Asia Pacific
        • China
        • India
        • Japan
        • Australia
        • South Korea
    • Latin America
        • Brazil
        • Mexico
        • Argentina
        • Colombia
        • Chile
    • Middle East & Africa
        • South Africa
        • Saudi Arabia
        • UAE
        • Israel
        • Egypt

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