Vials to Account for 4/5th of Vaccine Packaging in 2021: New Study
Future Market Insights (FMI) in a recent study has forecast the vaccine packaging market to surpass US$ 1.15 Bn in 2021. Vaccination progress, mainly in developed countries, has been driven by widespread awareness of its benefits, access to vaccines, and ongoing public and private efforts to encourage their use as an important part of health and preventive care.
Vaccine Packaging Market
A recent market report published by Future Market Insights on the vaccine packaging Market...
Developing regions as well have begun taking initiatives in pubic vaccination programs arranged on regular basis by the government bodies. This is mainly due to consumers and regulatory bodies are finding sharp increment in the various forms of viral diseases which includes, dengue, H1N1, Hepatitis A, and more recent coronavirus.
Vials and prefilled syringes are two of the most common forms of vaccine packaging typically preferred in clinical research and diagnostic centers. The convenient use and affordable pricing of packaging with availability of glass and plastic materials is driving the global vaccine packaging market. Vials have been identified as the most prominently used packaging type, followed by the prefilled syringes. Vials segment is projected to hold around 4/5th of the market share by the end of 2021.
Key Takeaways from Vaccine packaging Market
- Global market for vaccine packaging is set to register remarkable growth amid COVID-19. FMI has forecast it to exhibit 13.1% CAGR between 2020 and 2030
- The U.S. is set to emerge dominant in North America, reaching a valuation of nearly US$ 248 mn by 2021
- The U.K. will remain one of the key markets for vaccine packaging in Europe, with its valuation surpassing US$ 62 Mn by 2021
- Germany and France will continue exhibiting high demand for vaccine packaging
- While Japan and South Korea are forecast to exhibit high demand, China is likely to remain dominant in East Asia market for vaccine packaging
“Some of the leading players in the market are aiming at expanding their production facilities in order to meet global demand for vials and prefilled syringes for COVID-19 vaccines,” said a FMI analyst.
Sustainability Associated with the Vaccine Packaging Enabling Growth
Packaging sustainability is a rising area of dialogue and coordination between states, industry, universities, and regulatory bodies. To improve the natural, social and economic resilience of packaging, product advances and content production would be crucial. Vials made of glass significantly dominates the entire vaccine packaging market, as they are non-reactive with contents and can deliver multi-doses in single pack. Furthermore, as plastic ampoules to reduce chances of contamination, the consumption of such products is expected to increase in multiples in coming years. However, with sustainability benefit point of view, prefilled syringes are now taking over the vials.
Being unit-dose, and ready-to-administer, prefilled syringes are "safety-by-design" because of their intrinsic ease of usage, removal of many error-prone steps in the preparing and delivery of the vaccine, decreased risk of cross-contamination of the syringe, and guarantee of the proper dose for each injection. In comparison, printed peel-off labels on prefilled vaccine syringes make it easy to record batch numbers and to update the immunisation record of the patient at a faster rate than vials.
Impact of COVID-19 on Vaccine Packaging Market
Post COVID–19, the global vaccine packaging market is expected to register impressive growth. This is due to the increasing consumption of vaccine among consumers to reduce impact of virus infection and maintain good health, amid COVID-19. The vaccine packaging market is estimated to expand at a double digit growth rate, as the demand of vaccines rises exponentially in diagnostic centres, hospitals, and other healthcare organizations. According to FMI analysis, global adoption of vaccine packaging will surge nearly 3.5x of value over 2020-2030.
QR codes and RFID tags are already used by vaccine packaging manufacturers to ensure vaccine safety during packaging, transportation, and storage. Therefore, most of the key players are adopting fully automated assembly line and minimizing direct contact of human being in the product flow.
- For instance, the solution adopted by Pfizer, Inc. for packing the vaccine doses due to be delivered in the USA is “Ecoplat Plus” by ROBOPAC USA. It uses stretch film, a wrapping turntable incorporating state-of-the-art technology that guarantees advanced efficiency due to its durability, power and ease of use, including optimum safety of the products.
Vaccine Packaging Market Landscape
Gerresheimer AG, West Pharmaceutical Services, Inc., Becton, Dickinson & Company, SCHOTT AG, SGD S.A., Catalent, Inc, Stevanato Group, Nipro Corporation, Piramal Glass Private Limited, and UDG Healthcare plc. are estimated as the prominent players in the vaccine packaging market. The Tier 3 players in the market hold 70-80% in the global vaccine packaging market. In conclusion, key players contribute almost 20-30% of the global demand.
Vaccine Packaging Market Report
Future Market Insights, in its new report, offers an unbiased analysis of the global vaccine packaging market, analyzing historical demand from 2015-2019 and forecast statistics for 2020-2030. The study reveals growth projections on the vaccine packaging market on the basis of packaging type (vials, prefilled syringes, ampoules and bags & pouches), material (plastic, glass, polystyrene and others (metallic films)) and end-use (diagnostic centres, clinical research organization and other healthcare units) across seven regions.
About Packaging Division at Future Market Insights
The Packaging division at FMI provides an in-depth historical analysis and granular projections of the global packaging market. Ranging from packaging materials to designs & formats, FMI has an exhaustive market research database, serving clients with unique offerings and strategic recommendations. With a repository of 750+ reports, the team analyzed the packaging industry comprehensively in 70+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
- Global Beverage Packaging Market
- Corrugated Boxes Market
- Plastic Pails Market
- Iv Infusion Bottle Seals And Caps Market
- Filament Tapes Market
- Temperature Controlled Packaging Solutions Market
- Protective Packaging Market
- Dairy Products Packaging Market
- Next Generation Packaging Technology Market
- Container Glass Market
- Cold Chain Packaging Market
- Cosmetic Pencil And Pen Packaging Market
- Confectionery Packaging Market
- Plastic Caps And Closures Market
- Nylon Films For Liquid Packaging Market