Pharmaceutical Giants in the Vaccine Packaging Market: Competitive Landscape Analysis and Forecast. The United States is anticipated to remain at the forefront in North America, with a value share of 87.5% through 2034. In South Asia, India is projected to capture almost 47% of value share by 2034 end.

/EIN News/ -- NEWARK, Del, Aug. 08, 2024 (GLOBE NEWSWIRE) -- It is projected that vaccine packaging market sales will reach a value of USD 2,569.2 million by 2034, from an estimated USD 1,523.2 million in 2024. Over the forecast period between 2024 and 2034, sales are expected to increase at a CAGR of 5.4%. In 2023, vaccination packaging brought in USD 1,454.5 million in revenue. In 2024, the industry is projected to rise 4.7% year over year.

Globally, the high demand for vaccines has been encouraged by the rise of the spreading infectious illness and efforts to promote or run vaccination programs. The global vaccine packaging market is being propelled along by rising demand for vaccines from various end-use companies.

Growing development in vaccine R&D by medical institutions, healthcare and pharmaceutical companies, as well as substantial involvement of the government in vaccination campaigns, have driven up the demand for vaccine packaging over the last years. WHO Stated that approximately 16 billion vaccine doses, worth USD 141 billion, were supplied in 2021, almost three times the 2019 market volume (USD 5.8 billion) and nearly three-and-a-half times the 2019 market value (USD 38 billion).

In March 2021, SCHOTT reached a significant milestone, 1 billion COVID-19 vaccine doses in vials. The vials have been sent to organizations all around the world, with a special priority on Europe, the United States, and China. 90% of certified vaccinations utilize SCHOTT vials. Stevanato Group has received an order from the global non-profit Coalition for Epidemic Preparedness Innovations (CEPI) for 100 million vials.

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Emerging new cancer cases to open opportunities for Vaccine Packaging Manufacturers

Fascinatingly, cancer vaccines are a fairly recent therapeutic strategy, but they are now the biggest class of vaccines in terms of substance counts, with this group now accounting for almost half of the new vaccine patents. Thirty per cent of cancer vaccine patents apply to tumour-associated antigens expressed by multiple cancers. The manufacturers have a great opportunity to look after the segment, as more and more vaccines related to cancer are being developed regularly by major companies including AstraZeneca plc, Amgen Inc., Bristol-Myers Squibb, Johnson & Johnson, Merck & Co. and many others.

These vaccines have to be carefully filled, stored and transported from coast to coast, for which high-end vials, ampoules and syringes are needed. Besides this, viral and bacterial vaccines are the two most promising sectors, from which the manufacturers of vaccine packaging would get high revenue generation prospects in the coming year.

Key Takeaways from the Global Vaccine Packaging Market

• Vials have been identified as the most prominently used product in vaccine packaging. Manufacturers are vigorously ramping up their facilities of vials production in anticipation of the demand for chronic disease vaccine supply from all over the world. The segment is projected to expand at 4.2% and capture 85% of the market share in the forecast years.
• Diagnostic centres are estimated to account for nearly 68.7% of the global market by 2024. The segment is expected to remain the most remunerative segment over the forecast period growing at 3.9% CAGR in the next ten years.
• Glass dominates the vaccine packaging market with 78% of the market share and it is projected to further expand at 4.2% CAGR in the assessment period. The superior characteristics of glass such as effective barrier, sterility, chemical inertness, temperature stability, and reliability ensure the safe storage and transportation of vaccines.
• Cumulatively South Asia and East Asia are anticipated to account for over 36.4% of the global vaccine packaging market by 2034. A growing number of domestic manufacturers and rising demand from diagnostic centres and other healthcare units are expected to drive the vaccine packaging market growth in these regions.

“Innovation is likely to be a critical success factor in the pharmaceutical industry, particularly due to recent concerns over plastic packaging waste. Vials and prefilled syringes are two of the most common forms of vaccine packaging typically preferred in clinical research and diagnostic centres. This is expected to cherish opportunities for vaccine packaging manufacturers to develop new packaging formats alternative to the vials and prefilled syringes made of plastic.”- Says a Lead Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).

Opportunities Thrive in Prefilled Syringes

The mass vaccination process would be greatly improved by having the vaccines already in prefilled syringes, certainly the ones that do not require super low temperatures. Fewer expertise and less preparation would be needed and the procedure accelerated by not needing to schedule the vaccine on the front line, probably minimizing interaction time for the patient vaccinator. Likewise, the risk of infection of viral hepatitis through the use of multi-dose vaccine vials and removable needles would be completely removed.

Prefilled syringes are similarly risk reducers, as they have decreased by a factor of 3 in the incidence of handling errors and related health threat hazards. Companies involved in the market have already taken up the opportunity, to fulfill the demands.

In October 2021, Becton Dickinson expanded syringe production in the US. It claimed that it had decided to add production lines for safe operation injection devices at its Nebraska facility to increase the stock of syringes as the US enters the flu vaccination period while giving patients COVID-19 jabs. Retractable Technologies signed two contracts with the U.S. government worth $138 million to supply syringes for a vaccine.

Global Vaccine Packaging Market Landscape

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

some of the noticeable players in the market. The tier 1 players in the market hold 7 – 12% of the overall vaccine packaging market.

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Key Segments of the Vaccine Packaging Industry

By Packaging Type:

In terms of packaging type, the industry is divided into:

• vials,
• prefilled syringes,
• ampoules
• bags & pouches.

By Material:

In terms of material, the industry is segregated into:

• plastic,
• glass,
• polystyrene
• others (metallic films, etc.).

By End-use:

The industry is classified by end use industries as:

• diagnostic centres,
• clinical research organization
• other healthcare units.
  

By Region:

Key countries of:

• North America,
• Latin America,
• Europe,
• East Asia,
• South Asia,
• Middle East
• Africa (MEA),
• Oceania

Authored by:

Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.

Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.

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