Vaccine Storage & Packaging Market Size Worth $43.8 Billion By 2027 | CAGR: 10.4%: Polaris Market Research

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Dec 07, 2020, 08:00 ET

NEW YORK, Dec. 7, 2020 /PRNewswire/ -- The global vaccine storage & packaging market is poised to grow significantly to cross USD 43.8 Billion By 2027 according to a new study conducted by Polaris Market Research the market is anticipated to register a CAGR of 10.4% From 2020 to 2027. Rapid technological advancements in the storage and packaging of medicines, a rise in the number of pharma retailers, and an increase in the prevalence of infectious diseases are projected to drive demand for the global market. The sudden outbreak of COVID-19 has resulted in the rise of research studies for the development of a vaccine to prevent and cure the disease as well as demand for reliable storage and packaging solutions to store such vaccines. An increase in government support for clinical trials and investments for immunization programs are the key factors propelling the market growth.

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Key Trends and Major Developments in Vaccine Storage & Packaging Market

On the basis of function, the storage segment holding the major market share and is predicted to add more during the forecast period, owing to the high cost involved in maintaining the efficacy of vaccines.
In terms of packaging material, the vaccine bags and ampoules segment is expected to exhibit major demand on account of its higher compatibility feature with the sensitive material.
Based on end-use, the distributor segment is set to dominate the global market for vaccine storage & packaging due to the huge demand for medication resulting in a rise in the distribution operation.
Pfizer, an American pharmaceutical corporation has designed its packaging solution by using dry ice which can keep the vaccine cold enough for a few weeks without the need for ultra-low temperature freezers.

COVID-19 Impact Analysis:

The global vaccine storage and package market have been positively influenced by the outbreak of the COVID-19 pandemic. There is a significant rise in the intake of immunity-boosting syrups and medicines since the beginning of the pandemic and therefore exponential rise experienced in the requirement for packaging solutions. In addition to this, as the vaccine trials for COVID-19 are at the final stages, governments of different countries have started preparing for its distributions among their respective citizens. All these factors are anticipated to trigger the demand for vaccine storage and packaging during the pandemic as well as the post-pandemic period.

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Regional Outlook & Growth Analysis:

Europe region accounted for the largest market share and is predicted to continue doing so over the forecast period. A rapid increase in the awareness programs for improving the vaccination process and a surge in the research activities conducted for vaccine development is attributed to regional growth. An increase in the prevalence of infectious diseases and the increase in the presence of logistics operators is expected fuel growth in the North American region. MEA region is estimated to propel rapid growth, owing to an increase in the demand for immunization programs and rising healthcare expenditure. The increased prevalence of infectious diseases such as COVID-19 and the availability of laborers are set to create lucrative opportunities for players in the Asia Pacific region.

Market Participants Driving the Market Growth:

The global market includes key players such as AmerisourceBergen, Thermo Fischer Scientific DHL, Arctiko A/S, NIPRO, Lineage Logistics, DB Schenker, McKesson, Cardinal Logistics, and American Biotech Supply. Continuous innovation and product development are being undertaken by these players to widen their geographical reach. Continuous research, innovation, and product developments are the primary focus of such leading players for increasing their product portfolio. Key strategies such as acquisitions, collaborations, and mergers have been exercised by players to stay right on top of the competition.

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Polaris Market Research has segmented the Vaccine Storage & Packaging market report based on function type, end use, and region

Vaccine Storage & Packaging Function Type 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

Vaccine Storage & Packaging End User Outlook (Revenue – USD Million, 2016 – 2027)

Retailers
Forwarding & Clearing Agents
Distributors
Others

Vaccine Storage & Packaging Regional Outlook (Revenue – USD Million, 2016 – 2027)

North America (U.S., Canada)
Europe (France, Germany, UK, Italy, Spain, Netherlands, Austria)
Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
Latin America (Brazil, Mexico, Argentina)
MEA (Saudi Arabia, UAE, Israel, South Africa)

List of Key Players of Vaccine Storage & Packaging

American Biotech Supply
AmerisourceBergen
Arctiko A/S
Cardinal Logistics
DB Schenker
DHL
Lineage Logistics
McKesson
NIPRO
Panasonic Healthcare Co., Ltd.
Sentry BioPharma Services
Thermo Fischer Scientific

Target Audience:

Supply Side: Medical Equipment Manufacturers and Suppliers, Healthcare Solutions Company
Demand Side: Medical Equipment Retailers, Hospitals, Medical Research Centers
Regulatory Side: World Health Organization (WHO)
Associations and Industry Bodies: Food and Drug Associate (FDA)

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About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers.

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