Market Size of Vaccine Packaging Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 10.62 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Europe |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Vaccine Packaging Market Analysis
The vaccine packaging market is expected to register a CAGR of 10.62% during the forecast period. Due to the COVID-19 pandemic, demand for vaccines and packaging for these vaccines skyrocketed. Market players have been expanding their production capacities to meet the surge in demand.
- One of the main factors fueling the market's expansion is the rising incidence of various viral infections and immunological disorders in different parts of the world. The need for effective vaccine packaging facilities has significantly increased with the appearance of the coronavirus disease (COVID-19). Additionally, growing consumer awareness of the importance of early detection and prevention of infectious diseases has increased the demand for protective vaccines and is contributing to the market's growth.
- Healthcare spending by people and governments has been increasing, which is beneficial for the vaccine packaging market growth. For instance, according to China's National Health Commission, the total size of the Chinese healthcare industry is anticipated to reach CNY 16 trillion (USD 2.39 trillion) by 2030.
- According to the Chinese Center for Disease Control and Prevention of the Institute for Health Metrics and Evaluation, China reached a health 'tipping point,' with chronic conditions replacing infectious diseases as the leading causes of early deaths in the nation of 1.4 billion people. Such huge investments have anticipated the drive of the market.
- Leading vaccine manufacturers are preparing to establish adequate production facilities for future pandemics. These developments are fueling the market growth in the long term. For instance, in April 2022, Sanofi, a pharmaceutical company, announced to spend EUR 900 million (USD 618.55 million) to build two new Evolutive Vaccine Facilities (EVFs) in France and Singapore.
Vaccine Packaging Industry Segmentation
Vaccine packaging is the process that includes securely packaging vaccines in order to keep their therapeutic potency for a certain period.
The vaccine packaging market is segmented by type (glass vials, prefillable syringes, vial closures, secondary vaccine packaging) and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa). The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.
| By Type | |
| Glass Vials | |
| Prefillable Syringes | |
| Vial Closures | |
| Secondary Vaccine Packaging | |
| Other Types |
| Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| Latin America | |
| Middle East and Africa |
Vaccine Packaging Market Size Summary
The vaccine packaging market is experiencing significant growth, driven by the increased demand for vaccines and their packaging, particularly due to the COVID-19 pandemic. This surge in demand has prompted market players to expand their production capacities. The rising incidence of viral infections and immunological disorders globally, coupled with heightened consumer awareness about the importance of early detection and prevention of infectious diseases, is further propelling the market's expansion. Increased healthcare spending by individuals and governments worldwide is also contributing to the market's growth. Leading vaccine manufacturers are investing in production facilities to prepare for future pandemics, which is expected to sustain long-term market growth.
The market is characterized by intense competition, with major players adopting strategies such as product innovation, mergers and acquisitions, and expansion to enhance their production capabilities and market reach. The demand for vaccine packaging is particularly strong in countries like India, China, and the United States, as well as in European nations, where governments have implemented extensive vaccine distribution programs. Additionally, the market is witnessing a shift in focus towards diseases beyond COVID-19, such as monkeypox and polio, with governments increasing funding for immunization campaigns. The pharmaceutical industry in regions like Southeast and East Asia is also expanding, with companies investing in new facilities to manage supply flows more effectively.
Vaccine Packaging Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Value Chain Analysis
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1.3 Porter's Five Forces Analysis
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1.3.1 Bargaining Power of Buyers/Consumers
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1.3.2 Bargaining Power of Suppliers
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1.3.3 Threat of New Entrants
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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1.4 Assessment of the Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Glass Vials
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2.1.2 Prefillable Syringes
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2.1.3 Vial Closures
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2.1.4 Secondary Vaccine Packaging
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2.1.5 Other Types
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2.2 Geography
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2.2.1 North America
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2.2.2 Europe
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2.2.3 Asia-Pacific
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2.2.4 Latin America
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2.2.5 Middle East and Africa
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Vaccine Packaging Market Size FAQs
What is the current Vaccine Packaging Market size?
The Vaccine Packaging Market is projected to register a CAGR of 10.62% during the forecast period (2024-2029)
Who are the key players in Vaccine Packaging Market?
Gerresheimer AG, Nipro Corporation, Piramal Glass Private Limited, Catalent, Inc. and Schott AG are the major companies operating in the Vaccine Packaging Market.
