The global vaccine storage and packaging market size is anticipated to value USD 43.3 billion by 2027. It is also expected to register a 10.0% CAGR over the forecasted period, 2020 to 2027. Rapid technological advances undertaken for efficient storage and packaging of medicines and vaccines are projected to propel the growth of the market.
The storage function segment held a share of 58.8% in 2019 due to the increasing demand for services and equipment for vaccine storage. The service segment is projected to gain traction in the upcoming years on account of third party hiring for transportation services and warehouses being carried out by the key players operating across the biopharma and healthcare sector.
In 2019, Europe accounted for the highest share across the global market owing to the surging number of research activities and the increasing number of vaccine awareness programs conducted across this region. On the other hand, the MEA is estimated to witness faster growth in the upcoming years on account of increasing expenditure on healthcare infrastructure.
The vaccine storage & packaging market across the globe includes key players such as DB Schenker, DHL, AmerisourceBergen, Lineage Logistics, Arctiko A/S, McKesson, and American Biotech Supply Rapid product development and innovation is undertaken by these players to gain a cutting edge advantage over other players.
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Further key findings from the report suggest:
• In 2019, the storage function segment held the share of 58.8% across the global market.
• The primary packaging level segment is projected to witness significant growth from 2020 to 2027 across the global market.
• Europe accounted for the highest share across the global market in 2019.
• The key players operating in this market are DB Schenker, DHL, Amerisource Bergen, Lineage Logistics, Arctiko A/S, McKesson, and American Biotech Supply.
Million Insights has segmented the global vaccine storage & packaging market on the basis of function and region:
Vaccine Storage & Packaging Function Outlook (Revenue, USD Million, 2016 - 2027)
• Storage equipment
• Warehouse storage
• By Packaging Material
• Vaccine bags, vials, ampoules
• Corrugated boxes
• By Packaging Level
Vaccine Storage & Packaging Regional Outlook (Revenue, USD Million, 2016 - 2027)
• North America
• The U.S.
• The U.K.
• Asia Pacific
• South Korea
• Latin America
• Middle East & Africa
• South Africa
• Saudi Arabia