Vaccine Storage & Packaging Market Size, Share and Analysis By Material (Plastic, Glass, and Polystyrene), By Product Type (Vaccine Storage {Refrigerator and Freezer}, Vaccine Packaging {Bags, Vials, Ampoules, and Corrugated Boxes}), By End Users (Diagnostic Centres, Clinical Research Organization, and Other Healthcare Units), and Regional Forecast, 2024-2032

Vaccine storage and packaging refer to laboratory equipment and supplies used to preserve, store, and transport vaccines. Some commonly used vaccine storage devices include refrigerators and freezers that store vaccine boxes, vials, and syringes. Vaccines are packaged and stored in individual containers, grouped in coolers, and shipped under cold chain facilities that regulate and maintain the desired internal temperature to ensure product delivery. As a result, they find wide applications in blood banks, hospitals, laboratories, pharmacies, and other medical centers.

The increasing prevalence of viral infections and immune disorders globally represents one of the key factors driving the market's growth. With the outbreak of coronavirus disease (COVID-19), the need for adequate vaccine storage and packaging facilities has increased dramatically. Furthermore, raising awareness about early diagnosis and prevention of infectious diseases has increased the demand for vaccine storage & packaging.

• In December 2020, Vericool, the inventors of the world's first recyclable/biodegradable cooler, developed a sustainable thermal solution for shipping COVID-19 vaccines that is both recyclable and compostable. This shipping solution will eliminate the potential need for millions of EPS (Styrofoam) coolers that are non-environmentally friendly and devastate the global landscape. An EPS cooler is not biodegradable and stays in the environment for hundreds of years.

Various technological developments, such as the development of innovative cold chain facilities with minimal risk of vaccine freezing and better quality control, are other factors to support growth. In this regard, the market is also driven by favorable government policies to facilitate various vaccination programs and improve vaccine production, storage, and distribution. Other factors, such as improving medical infrastructure and extensive research and development (R&D) activities in the biotechnology sector, are expected to drive the market further.          

The instability in the cost of raw materials might affect the product's cost structure, which can be a significant market restraint for the global Vaccine Storage & Packaging market.

IMPACT OF COVID-19 ON THE VACCINE STORAGE & PACKAGING MARKET

The COVID-19 pandemic has positively affected the production of many vaccine storage and packaging products due to the lockdown in several countries around the world. This is driving the growth of the vaccine storage and packaging market. COVID-19 affected vaccine storage and packaging sales in the first quarter of 2021 and is expected to positively impact market growth throughout the year. The high demand for vaccine storage and packaging was seen by major producing countries such as the United States, Germany, Italy, the United Kingdom, and China, which were positively affected by the spread of the Coronavirus, with an increase in the demand for storage and packaging of vaccines.

In addition, the potential impact of the current shutdown is unclear, and companies' financial recovery is entirely dependent on their cash reserves. Manufacturers in the vaccine storage and packaging market will only be able to withstand total containment, after which players will have to revise their investment plans. For example, many market players have suspended production activities for several weeks to reduce costs. Few players have also accepted layoffs to stay afloat during the COVID-19 health crisis.

The vaccine storage and packaging market is expected to protect the workforce, operations, and supply chain from the current crisis and find new ways to operate post-Covid-19. For example, providing disinfectants, maintaining social distancing, and ensuring all company employees are vaccinated can help promote team member health and safety.

KEY INSIGHTS

The report will cover the following key insights:

• Recent Advancements in Vaccine Storage & Packaging Market


• Key Industry Trends


• Regulatory Landscape for Vaccine Storage & Packaging Market


• Key Industry Developments (Mergers, Acquisitions, and Partnerships)


• Impact of COVID-19 on the Market

ANALYSIS BY MATERIAL

The market is segmented based on material, glass, and polystyrene. The glass segment is expected to account for a significant revenue share. Increasing awareness about early diagnosis and prevention of infectious diseases has enhanced the demand for prophylactic vaccines and continues to drive the market's growth. In addition, various technological advances, such as innovative cold chain facilities with the lowest risk of vaccine freezing and improved internal controls, act as other growth factors.

ANALYSIS BY PRODUCT TYPE

Based on product type, the market is segmented into vaccine storage and packaging. Some commonly used vaccine storage devices include refrigerators and freezers that store vaccine vials, syringes, and corrugated boxes. They find applications in blood banks, hospitals, laboratories, pharmacies, and other medical centers.

ANALYSIS BY END-USER

As per the end-use industry, the market is segmented into diagnostic centers, clinical research organizations, and other healthcare units. Diagnostic centers are one of the central segments driving the vaccine packaging demand worldwide. Vaccine packaging is available in several materials, including plastic and glass, used in the vaccine packaging market. The diagnostic centers' segment, significant revenue and demand generator for vaccine packaging, is expected to fuel the growth of the vaccine storage and packaging market.

REGIONAL ANALYSIS

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The Vaccine Storage & Packaging market has been studied across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Europe region has recently dominated the global vaccine storage & packaging market in terms of revenue. This trend can be attributed to increased awareness of immunization programs, increasing prevalence of infectious diseases, increased research aimed at developing new vaccines, and the presence of many patients also logistics partners with many years of experience in the region. According to the Data Futures Platform, COVID-19 vaccine inequity will have a lasting and profound impact on socio-economic recovery in low- and lower-middle-income countries without urgent action to boost supply, share vaccines and ensure they’re accessible to everyone now. The Asia Pacific market is estimated to account for the maximum market share in global vaccine storage & packaging. Increased investment in packaging in countries like India is driving the growth of the vaccine packaging market. Together with the Packaging Institute of India, the country's packaging companies are using two million loads of kraft to organize corrugated boxes in response to growing demand from the food and pharmaceutical industries.

KEY PLAYERS COVERED

The report will include profiles of key players such as Lineage Logistics, DHL, Cardinal Logistics, Thermo Fisher Scientific, American Biotech Supply, NIPRO, Amerisource Bergen, DB Schenker, McKesson, Panasonic Healthcare Co., Ltd., and Arctiko A/S.

SEGMENTATION

KEY INDUSTRY DEVELOPMENTS

• In January 2022, Gerresheimer increased vial capacity at its Wertheim plant and two other plants in China and the United States. The company is investing in Wertheim production to increase bottling capacity to 150 million bottles per year and plans to create 70 new jobs in the process.


• In October 2021, Becton Dickinson expanded injection production in the United States. He said that with the U.S. entering flu vaccination season and patients receiving shots for COVID-19, he decided to increase the stock of syringes at his Nebraska plant by adding a production line for the safe operation of the injection devices.


• In March 2021, SCHOTT reached a significant milestone of 1 billion doses of the COVID-19 vaccine in vials. The flasks were sent to organizations worldwide, focusing on Europe, the United States, and China. 90% of approved vaccines use Scott vials.


• In June 2020, Moderna, Inc., a clinical-stage biotechnology company, announced a partnership for the large-scale manufacturing of Moderna's mRNA-based COVID-19 vaccine (mRNA-1273) at Catalent's biologics research center in Bloomington, Indiana.