Vaccine Packaging Market is projected to reach US$ 3.5 Bn by 2030, at a CAGR of 13.2%

According to FMI, the vaccine packaging market produced approximately US$ 1.1 Bn in total sales in 2021. The global market for vaccine packaging is expected to increase three times from its current value by the end of the forecast period in 2030. The market for vaccine packaging is expected to reach US$ 3.5 Billion by 2030, at a CAGR of 13.2% from 2022 to 2030, from an estimated US$ 1.3 Billion in 2022. A recent FMI estimate projects that the worldwide vaccine packaging market would create an additional opportunity worth US$ 2.3 billion over the projection period.

What is the Future Outlook for the Vaccine Market?

Vaccines will continue to play a critical role in the control of infectious illnesses. As vaccine research improves, the therapeutic prospects in the field of non-infectious illnesses will expand even further. Recombinant vaccines, designed vectors are anticipated to be seeing growing interest in vaccine technology. As per World Health Organization (WHO), the global vaccination rate is estimated to be over 85%.

Considering vaccinations enormous and expanding clinical impact, the global industry is becoming increasingly lucrative. Vaccine coverage in globe has been seen a declined from 86% to 83% in 2020 and the number of unvaccinated children has increased 3.4 Mn by 2020. In the year 2020, 19 vaccines were introduced, which is less than half of any year in the previous two decades.

Competitive Landscape

By 2030, Europe and North America are expected to dominate the global vaccine packaging market, with a market value share of almost  50%.

The market’s top players are aiming to expand their worldwide presence, increase their product offering, and accelerate the development process to obtain a competitive advantage. In addition, most industries are using marketing methods like mergers and acquisitions to expand their market reach and improve their position.

For instance,

• In January 2022, Gerresheimer is improving its capacity for glass vials at its Wertheim site as well as at two other locations in China and the United States. The company is investing in Wertheim production to increase vial capacity by 150 Mn vials per year, with plans to create 70 new jobs in the process.
• In October 2021, Becton Dickinson expands syringe production in the US. It claimed that it had decided to add production lines for safe operation injection devices at its Nebraska facility in order to increase stock of syringes as the US enters the flu vaccination period while giving patients COVID-19 jabs.

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Key Companies Profiled

• Gerresheimer AG
• West Pharmaceutical Services, Inc
• Becton, Dickinson & Company
• SCHOTT AG
• SGD S.A.
• Catalent, Inc
• Stevanato Group
• Nipro Corporation
• Piramal Glass Private Limited
• UDG Healthcare plc

Impact of COVID-19 on the vaccine packaging market

Since COVID-19, the global vaccine packaging market is expected to grow tremendously. This is due to the increased consumption of vaccines among consumers in COVID-19 to reduce the effects of viral infections and maintain good health. The vaccine packaging market is estimated to grow at double-digit growth rates as demand for vaccines grows exponentially in diagnostic centers, hospitals and other medical institutions. Global adoption of vaccine packages will surge in value by nearly 3.5 times between 2020 and 2030, according to FMI analysis.

Key segment

Packaging type

• Vial
• Prefilled syringe
• ampoule
• Bag and pouch

material

• plastic
• Glass
• polystyrene
• Others (metal film)

End use

• Diagnostic Center
• Clinical research institute
• Other healthcare units

Important Questions Answered in the Vaccine Packaging Market Report

• Which end user is expected to create lucrative growth opportunities for the global Vaccine Packaging market?
• How is the Vaccine Packaging market likely to evolve in the upcoming years?
• What are the upcoming trends and opportunities likely to prevail the Vaccine Packaging market in the future?
• What innovative strategies are adopted by Vaccine Packaging market players to stay ahead of the pack?
• Which region is expected to be the most lucrative region for the Vaccine Packaging market?
• What are the restraints affecting the growth of the global Vaccine Packaging market?

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Have a Look at Related Research Reports of  Packaging

Packaging Inserts Market Value:  Packaging inserts sales are projected to increase at a healthy CAGR of 4.5% over the forecast period, to top a valuation of US$ 3.5 Bn by 2032
Metal Banding Machine Market Demand: The global metal banding machine market is projected to witness growth at a healthy CAGR of 3.9% from 2022 to 2032 and reach a valuation of US$ 1 Bn by 2032

Reusable Water Bottles Market Type:  The  reusable water bottles market  is enjoyed a valuation of  US$ 8.9 Billion in 2022 ,  and further expand at a  CAGR of 3.6%  to reach  US$ 12.7 Billion by 2032

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