DUBLIN, October 28, 2021--(BUSINESS WIRE)--The "Vaccine Storage and Packaging Market - Global Outlook & Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The Vaccine Storage and Packaging market was valued at USD 3,544.28 million in 2020 and is expected to reach USD 5,661.25 million by 2026 growing at a CAGR of 8.12%
The COVID-19 outbreak has led to intensifying demand for vaccines to fight the disease; thus, it has contributed to the growth of the global vaccine storage & packaging market. With the utilization of technology, the disruptors and innovators are reimaging the daily lives of the past few decades. The influence of technology on the cold chain logistics industry is equally intense.
Automations at the coldest temperature is an innovation that has provided ease to the vaccine storage process. The prevalence of COVID-19 has provided vast opportunities to the vaccine freezers, refrigerators, ampoules, vials, and other packaging material providers. COVID-19 has enabled the key vaccine players to partner with the key vendors in the vaccine storage equipment market.
VACCINE STORAGE AND PACKAGING MARKET SEGMENTATION
In 2020, the global vaccine packaging industry by vials accounted for a revenue share of 41.68%. The most used material for packaging vaccines is borosilicate glass vials because of their unresponsiveness nature. As the demand for vaccines increases, the vial manufacturers are also increasing their production and are implementing advancements in vaccine packaging.
The increasing use of drugs in laboratory procedures provides an excellent opportunity for pharmaceutical refrigerators and freezers to develop their markets. Research institutions will be one of the most targeted segments of the pharmaceutical refrigerator and freezer market.
Europe: The rising number of vaccines manufactured, increasing acceptance and awareness among the population, increasing demand for COVID-19 vaccine, and growing government initiatives are propelling the demand for the global vaccine storage and packaging industry in Europe.
North America: With an increasing number of newborns in the region, the need for immunization is arising. The US government supports many public agencies and programs that are involved in vaccine-related activities. Each year, they spend hundreds of millions of dollars to research new and improved vaccines. These factors are propelling the market demand.
APAC: The rise in new coronavirus cases impacted patients in mid-2021 has once again highlighted the need to accelerate and expand vaccination programs in the Asia-Pacific region, which will fuel the market growth.
To promote the importance of immunization among people, the government is organizing vaccination camps, public conferences, and immunization programs in collaboration with several players. WHO provides knowledge and assistance to immunization programs worldwide, contributing to the market's demand throughout a rapidly evolving situation.
Technological advancements such as RFID tags, BFS technology, temperature monitoring devices, etc., are improving the penetration of the global vaccine storage and packaging industry.
Due to the emergence of COVID-19, the demand for vaccine storage equipment increased significantly. These vaccines have specific cold storage requirements that should not be too cool or too hot to maintain the vaccine's potency.
The sudden onset of covid-19 gave significant growth opportunities for manufacturers offering packaging and storage solutions for the vaccine supply chain. With the immunization process happening globally in many countries, vendors need to prioritize and manufacture products required for packaging and storage of a wide range of covid-19 vaccines to have a good and efficient supply chain between vaccine manufacturers and vaccine administrators.
One of the key vendors, Gerresheimer, acquired Swiss technology company Sensile Medical in 2018, which has contributed to the inorganic growth in the company.
COVID-19 provided significant growth opportunities for manufacturers offering packaging and storage solutions. Vendors should prioritize and manufacture products required for the packaging of COVID-19 vaccines to have a good and efficient supply chain.
FedEx provides specialized and temperature-controlled packaging services to its healthcare logistics customers with fast, reliable, and secure deliveries.
Thermo Fisher Scientific
Other Prominent Vendors
American Biotech Supply
B Medical Systems
Desco Medical India
DWK Life Sciences
United Parcel Service
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope Of The Study
5 Report Assumptions & Caveats
6 Market at a Glance
8 Market Opportunities & Trends
8.1 Improvement In Storage Infrastructure
8.2 Continuous Technological Advancements In Cold Chain Facilities
8.3 Improvement In The Quality Of Packaging Material
8.4 Contracts Between Pharma Manufacturers And Packaging Providers
8.5 Strong Portfolio Of Key Companies For Covid-19 Vaccine
9 Market Growth Enablers
9.1 Prevalence Of Infectious Diseases And Immunology Disorders
9.2 Increased Production Capacity Of Vaccines By Key Manufacturers
9.3 Growing Government Initiatives To Promote Immunization & Its Awareness
9.4 Outbreak Of Covid-19
10 Market Restraints
10.1 Shortage/Delayed Supply Of Vials And Dry Ice
10.2 Risk Of Product Damage Or Perishing While In Transit
10.3 Significant Capital Investment
11 Market Landscape
11.1 Market Overview
11.2 Market Size & Forecast
11.3 Five Forces Analysis
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
13 Vaccine Packaging
13.1 Market Overview
13.2 Market Size & Forecast
13.3 Vaccine Packaging: Product Segmentation
13.3.1 Vials: Market Size & Forecast
13.3.2 Ampoules: Market Size & Forecast
13.3.3 Corrugated Boxes: Market Size & Forecast
13.3.4 Others: Market Size & Forecast
13.4 Vaccine Packaging: Layer Segmentation
13.4.1 Primary Layer: Market Size & Forecast
13.4.2 Secondary Layer: Market Size & Forecast
13.4.3 Tertiary Layer: Market Size & Forecast
13.5 Vaccine Packaging: Geography Segmentation
14 Vaccine Storage
14.1 Market Overview
14.2 Market Size & Forecast
14.3 Vaccine Storage: Product Segmentation
14.3.1 Refrigerators: Market Size & Forecast
14.3.2 Freezers: Market Size & Forecast
14.3.3 Others: Market Size & Forecast
14.4 Vaccine Storage: Geography Segmentation
15.1 Market Snapshot & Growth Engine
15.2 Market Overview
15.3 Pharma & Biotech Companies
15.4 Healthcare Facilities
16.1 Market Snapshot & Growth Engine
16.2 Geographic Overview
For more information about this report visit https://www.researchandmarkets.com/r/jova8w
View source version on businesswire.com: https://www.businesswire.com/news/home/20211028005590/en/
Laura Wood, Senior Press Manager
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