Vaccine Storage & Packaging Market Size Worth $ 7.77 Billion By 2032 | CAGR: 14.1%

The global vaccine storage & packaging market size is expected to reach USD 7.77 billion by 2032, according to a new study by Polaris Market Research. The report “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” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Vaccines are typically stored in their original packaging, with lids enclosed in separate containers until they are ready for administration. This practice helps protect the vaccines from light exposure and provides additional thermal protection to prevent degradation. Vaccine storage equipment is used in laboratories, biotechnology companies, pharmacy stores, blood banks, hospitals, and other healthcare institutes to facilitate proper storage and preservation of vaccines.

Vaccine storage equipment is designed to maintain the desired temperature conditions for vaccines, ranging from 86 to 65 degrees Celsius. It is available in various capacities to meet the specific needs of end-users. Recent advancements in the market include the introduction of Solar Vaccine Refrigerators (SDD refrigerators) and Radio Frequency Identification (RFID) Refrigerators. These advanced refrigerators and freezers regulate temperature and aid in preserving vaccines.

The global market for vaccine storage equipment is expected to experience significant growth due to various factors. Government initiatives and investments in vaccination programs will create lucrative opportunities for market expansion. Additionally, the lack of budget constraints, packaging capabilities, and in-house storage faced by biopharmaceutical organizations, government institutions, and academic establishments will drive the demand for vaccine storage equipment.

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Furthermore, technological advancements in refrigerators and freezers for vaccine storage and transportation will fuel the market growth. These innovations contribute to better temperature control and ensure the integrity of vaccines during storage and distribution processes.

Market players actively engage in mergers and acquisitions, collaborations, product extensions, and geographical expansions to strengthen their position. They are also making substantial investments in research and development to develop new products and compete effectively in the market.

In June 2020, Moderna, Inc., a clinical-stage biotechnology company, partnered with Catalent to manufacture Moderna's mRNA-based COVID-19 vaccine (mRNA-1273). Catalent's biologics research center in Bloomington, Indiana, will be involved in vial filling and packaging and providing the necessary staff for round-the-clock manufacturing operations. The partnership aimed to develop an initial 100 Billion vaccine doses supply to cater to the U.S. market by the third quarter of 2020. This collaboration helped Moderna scale up its production capabilities and meet the high demand for COVID-19 vaccines.

Vaccine Storage & Packaging Market Report Highlights

• In 2023, the corrugated boxes segment accounted for the highest market share, de to the most widely used packaging option for storing and transporting vaccines, possibly due to its cost-effectiveness, durability, and suitability for maintaining proper conditions.
• In 2023, the distributor segment held the largest market share. As the demand for medications, including vaccines, continues to rise, distributors play a crucial role in ensuring timely and widespread availability.
• In 2023, North America held the largest share of the vaccine storage & packaging market, due to its advanced healthcare infrastructure, strict regulations, and significant demand for vaccine storage and packaging solutions.  
• The major global market players include Sentry BioPharma Services, Lineage Logistics, AmerisourceBergen, DB Schenker, DHL, Cardinal Logistics, Thermo Fischer Scientific, McKesson, Arctiko A/S, Panasonic Healthcare Co., LTD., NIPRO, and American Biotech Supply.

Polaris Market Research has segmented vaccine storage & packaging market report based on function type, end-use, and region:

Vaccine Storage & Packaging, Function Type Outlook (Revenue - USD Billion, 2019-2032)

• Storage
  • Storage Equipment
    • Refrigerator
    • Freezer
    • Others
  • Service
    • Warehouse storage
    • Transportation
• Packaging
  • Packaging Material
    • Vaccine Bags
    • Vials & Ampoules
    • Bottles
    • Corrugated Boxes
    • Others
  • Packaging Level
    • Primary
    • Secondary
    • Tertiary

Vaccine Storage & Packaging, End-Use Outlook (Revenue - USD Billion, 2019-2032)

• Retailers
• Forwarding & Clearing Agents
• Distributors
• Others

Vaccine Storage & Packaging, Regional Outlook (Revenue - USD Billion, 2019-2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Vaccine Storage & Packaging Market Report Scope