Vaccine Storage & Packaging Market Share, Size, Trends, Industry Analysis Report, By Function Type (Storage, Packaging); By End-Use; By Region, And Segment Forecasts, 2024-2032

The global vaccine storage & packaging market was valued at USD 2.38 billion in 2023 and is expected to grow at a CAGR of 14.1% during the forecast period.  

The interest in researching and developing various therapies by the biopharmaceutical and pharmaceutical industries has been expanding. It includes the exploration of new treatment options and the improvement of existing ones. Alongside this, there has been a focus on the technologies involved in the storage of vaccines and the challenges that arise in the supply chain. One of the key factors contributing to this growth is the need to address factors such as toxicity and reactivity of treatments to internal and external factors. Pharmaceutical and biopharmaceutical companies are dedicated to ensuring the safety and efficacy of their products, and they invest significant resources in understanding and mitigating any potential risks.

Furthermore, the growing government venture into vaccination programs is expected to fuel the global market. Governments worldwide, like the U.S., actively support associations and projects associated with immunization-regarding actions. These governments allocate substantial funding for research and development, procurement, and distribution of vaccines to ensure public health and safety. Additionally, educational activities are conducted to promote the usage of immunization and raise awareness about its benefits.

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The demand for these products is increasing due to the necessity of treatments for various chronic and infectious diseases. Vaccines, in particular, are an effective means of drug administration for unconscious and hospitalized patients. Consequently, the rising demand for vaccines has led to an overall increase in the global market. Vaccines are stored with lids enclosed in specialized containers to protect them from light exposure and provide thermal protection. Appropriate handling and stockpiling practices play a significant role in safeguarding individuals and society from vaccine-preventable diseases. Ensuring vaccine quality is a shared responsibility from when a vaccine is developed until its administration, with various stakeholders working together to uphold the highest standards.

Furthermore, the growth of the vaccine storage and packaging market is expected to be propelled by several factors. Biopharmaceutical companies, government institutions, and academic institutions often need more in-house storage and packaging capabilities, limited expertise, and budget constraints. As a result, these organizations increasingly rely on specialized equipment and services the market provides. The steadily rising global immunization coverage is a significant driver for the vaccine storage equipment market. As more individuals and communities become aware of the importance of immunization, the demand for effective storage and packaging solutions is increasing.

Technological advancements also play a crucial role in driving the market forward. Innovations such as SDD (Self-Defrosting Deep) refrigerators and RFIDs (Radio-Frequency Identification) have been introduced, offering improved efficiency and convenience. Many companies have invested heavily in research and development to address the unmet medical needs in vaccine storage and packaging within healthcare facilities. Moreover, there is a growing awareness about the benefits of early disease diagnosis and prevention and an increase in the incidence of infectious diseases. These factors have led to a higher demand for protective vaccines, further contributing to the growth of the vaccine storage and packaging market.

Industry Dynamics

• Growth Drivers
• Increasing Global Vaccination Coverage

The growth of the global market is expected to be driven by the presence of challenges, including the need for dedicated stockpiling and packaging capabilities, expertise, and budget constraints faced by government establishments and academic institutions. These challenges create a demand for specialized solutions, thereby driving the vaccine storage & packaging market growth.

Furthermore, the increasing global vaccination coverage is a significant driver for the market. For instance, according to the World Health Organization, the estimated international immunization program for Diphtheria-tetanus-pertussis (DTP3) reached approximately 86.0 percent coverage in 2018. It highlights the growing importance and demand for efficient storage and packaging solutions.

The industry's utilization of SDD refrigerators and RFIDs is expected to fuel market growth further. These technological advancements offer improved efficiency and convenience in vaccine storage and tracking, contributing to the market's overall expansion. Company players in the market have made substantial investments in research and development to address the specific clinical needs associated with vaccine storage and packaging in healthcare facilities.

Moreover, the increasing awareness regarding early disease diagnosis and prevention drives the industry's growth. As people become more proactive in managing their health, the demand for protective vaccines and reliable storage solutions increases. Additionally, the rising prevalence of infectious diseases has further generated a need for preventive vaccines, fueling the market's growth.

Report Segmentation

The market is primarily segmented based on function type, end-use, and region.

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By Function Type Analysis

• The corrugated boxes segment accounted for the highest market share in 2023

In 2023, the corrugated boxes segment accounted for the highest market share because these boxes were the most preferred or widely used packaging solution for vaccines in terms of market adoption. The choice of corrugated boxes for vaccine storage and packaging could be attributed to various factors, such as cost-effectiveness, durability, ease of handling, protection from external factors, and suitability for maintaining proper temperature conditions.

The dominance of the Corrugated Boxes segment might be influenced by factors like their availability, practicality, and adherence to regulatory standards for vaccine storage and transportation. The segment's significant market share suggests that many stakeholders within the vaccine industry, including manufacturers, distributors, and healthcare providers, found corrugated boxes to be a reliable and efficient option for ensuring the safe and effective delivery of vaccines.

By End-Use Analysis

• The distributors segment held the largest market share in 2023

In 2023, the distributor segment held the largest market share due to the increasing demand for medications, including vaccines, which has led to a rise in distribution operations. As a result, distributors have gained a dominant market share by meeting the growing demand and ensuring the availability of vaccines to healthcare facilities and other points of care.

However, the retailer's segment is expected to become the dominant market player in the forecasted period. This shift is driven by multiple factors, including the increasing usage of vaccines and the growing awareness among individuals regarding preventing infectious diseases through vaccination. As public awareness and demand for vaccines rise, retailers will likely play a crucial role in stocking and providing vaccines to the general public. This trend will contribute to the retailer's segment gaining a larger market share globally.

Regional Analysis

• The North America held the largest market share in 2023

In 2023, North America held the largest share of the vaccine storage & packaging market due to its advanced healthcare infrastructure, including robust vaccine distribution networks and storage facilities. The region's substantial population and healthcare requirements could drive higher demand for vaccine storage and packaging solutions. North America often primes in technological advancements and innovative packaging solutions, which could contribute to its dominant market share. Government policies and initiatives related to healthcare and vaccination campaigns could contribute to the region's market share. The region's economic strength and purchasing power could increase investment in quality storage and packaging solutions.

In June 2020, SiO2 Materials Science, a major U.S. advanced materials science corporation, introduced an innovative technology for the packaging of vaccines and biological pharmaceuticals. The company secured a significant USD 143 million agreement with the federal government. This partnership aims to enhance the production capacity of SiO2 Materials Science's packaging facility, specifically designed for the storage of the latest SARS-CoV-2 vaccines and other therapeutic agents

Europe is experiencing the fastest market growth, driven by increased public awareness of vaccination, heightened research and development activities for vaccines, a surge in infectious disorder cases, and the presence of numerous warehouse providers in the region. The key factors propelling the global market's regional expansion include various European governments actively working towards the development of COVID-19 vaccines. In June 2020, the German government invested USD 340 million to acquire a 23 percent stake in CureVac, a major company to develop a COVID-19 vaccine, reflecting a strategic move to secure access for its citizens.

Key Market Players & Competitive Insight

The vaccine storage and packaging market is a critical component of the pharmaceutical and healthcare industry, ensuring the safe and effective distribution of vaccines globally. The market is characterized by key players that specialize in providing innovative and reliable storage and packaging solutions. Companies investing in innovative solutions, such as smart monitoring systems, sustainable materials, and energy-efficient storage units, gain a competitive advantage. In the rapidly evolving landscape of vaccine development and distribution, staying at the forefront of technological advancements, maintaining global compliance, and fostering strategic collaborations are essential for market players in the vaccine storage and packaging industry.

Some of the major players operating in the global market include:

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  

Recent Developments

• In June 2020, SiO2 Materials Science, a U.S. advanced materials science corporation, signed a USD 143 million agreement with the federal government. These agreements aimed to support the development of advanced technology for packaging vaccines and biological pharmaceuticals. This initiative highlights the company's commitment to enhancing the packaging solutions for these critical medical products.
• In October 2021, Becton Dickinson announced an expansion of its injection production in the United States. With the flu vaccination season coinciding with COVID-19 vaccinations, the company decided to increase the stock of syringes at its Nebraska plant. It involved adding a new production line to ensure the safe and efficient operation of injection devices.

Vaccine Storage & Packaging Market Report Scope