According to the research report, the global vaccine storage & packaging market was valued at USD 20.1 Billion in 2019 and is expected to reach USD 43.8 Billion By 2027, and will grow at a CAGR of 10.4% during the forecast period.
Vaccine storage and packaging indicate several laboratory devices and equipment required to transport, store and preserve vaccines. The regularly used vaccine storage equipment involves freezers and refrigerators that store ampoules, vaccine vials, and corrugated boxes. The vaccines are packed and stockpiled in separate packages and rolled up together in carriers and cold boxes under facilities of cold chain and regulate and sustain the needed internal temperature for warranting guarded product transportation. Therefore, they are extensively applied across hospitals, blood banks, pharmacies, laboratories, hospitals, and other healthcare centers.
Vaccine storage equipment is lab equipment utilized to sustain and spare the prevalence of vaccines in an ideal condition to abstain from debasement. Maintenance of vaccines at the needed temperature is crucial. One of the great difficulties the medical care officers observed was the aftereffect of uncertainty in temperatures to the patients to be inoculated. Vaccine storage has broad applications in blood donation centers, biotechnology organizations, clinical research facilities, emergency clinics, drug stores, and affiliated medical care foundations.
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Key highlights of the report
- Organization of vacation camps, immunization programs, and public conferences
- Technological progressions like BFS technology, RFID tags, and temperature monitoring devices to improve penetration of vaccines
- Due to covid-19, the cold storage requires not to be too hot or extremely cold
- WHO offers assistance and knowledge to immunization programs globally
Important Questions Being Answered by The Market Report
- What is the market size and growth?
- Who are the leading global players in the vaccine storage and packaging market?
- What is vaccine storage and packaging?
- What is the prediction for the future?
- What are the provocations encountered?
- What are the driving factors and opportunities?
Top Global Market Players Are:
- Lineage Logistics
- Sentry BioPharma Services
- DB Schenker
- Thermo Fischer Scientific
- Cardinal Logistics
- McKesson; Panasonic Healthcare co. LTD.
- Arctiko A/S
- American Biotech Supply
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Vaccine storage and packaging market: Growth leading factors
Growing investment in research and development of vaccines by biopharmaceutical companies and increasing government investment in programs of immunization are expected to drive the market. For instance, the US government supports several public agencies and programs in activities related to vaccines. A massive amount is spent by the US government on research and development of vaccines, buying and distributing vaccines to states, warranting the safety of prevalent vaccines, and conducting educational and other activities to ensure the usage of vaccines.
The market will also flourish because of technological progressions like SDD refrigerators and RFIDs in the industry. The majority of companies have invested significantly in R&D to approach the unfulfilled medical requirements in the storage and packaging of vaccines in facilities related to health care. Additionally, growing awareness about the diagnosis of diseases at an earlier level and prohibition and increasing prevalence of infectious conditions has revived demand for protective vaccines.
Due to the covid-19 pandemic, functional vaccine storage and transport demand are expected to shoot. The lack of house storage resources and packaging potential and scarcity of constant and expertise budgeting restrictions encountered by academic institutions, government institutions, and biopharmaceutical companies will push the global vaccine storage and packaging market demand.
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Global Vaccine Storage & Packaging Market: Report Scope
Market Size 2019 Value
USD 20.1 Billion
Market Outlook for 2027
USD 43.8 Billion
Expected CAGR Growth
10.4% from 2020 – 2027
2020 – 2027
By Function Type, By End-Use, By Region
Lineage Logistics, Sentry BioPharma Services, DB Schenker, AmerisourceBergen, DHL, Thermo Fischer Scientific, Cardinal Logistics, McKesson; Panasonic Healthcare co., LTD., Arctiko A/S, American Biotech Supply, NIPRO
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
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Vaccine storage and packaging market: Key segmentation
- Insight by function type, end-use, and region
By function type, the storage segment accounted for the largest share. The increasing demand for equipment and services is projected to push the market growth. Additionally, the sub-segment of services is anticipated to activate the development of the market as the predominant biopharmaceutical organizations have commenced engaging transportation services and warehouses belonging to the third party. By end-use, the distributors ruled the market as medication requirements are growing consistently. Therefore, this trend caused an increase in distribution operation, and consequently, the distributors have a commanding market share.
By region, in Europe, the number of vaccines produced, growing embrace and recognition amongst the populace, increasing demand for covid-19 vaccines, and increasing government inventiveness are pushing the need for global vaccine storage and packaging industry in Europe. In North America, due to the growing number of newborns, immunization is increasing. Many public agencies and programs included in vaccines’ activities are being supported by the US government. Every year they squander hundreds and millions of dollars to research new and improved vaccines. In APAC, the growth in the recent coronavirus cases has highlighted the requirement of expanding and accelerating vaccination programs in the Asia Pacific region.
Browse the full “Vaccine Storage & Packaging Market Share, Size, Trends, Industry Analysis Report, By Function Type (Storage [Storage equipment (Refrigerator, Freezer, Others), Service (Warehouse storage, Transportation);, Packaging [By Packaging Material (Vaccine bags, vials, ampoules, Corrugated boxes, Others), By Packaging Level (Primary, Secondary, Tertiary)]; By End-Use; By Regions; Segment Forecast, 2020 – 2027” Report at https://www.polarismarketresearch.com/industry-analysis/vaccine-storage-packaging-market
The market primarily depends on the function type, end-use, and region
Vaccine storage and packaging market: By function type
- Storage Equipment
- Warehouse storage
- Packaging Material
- Vaccine Bags
- Corrugated Boxes
- Packaging Level
Vaccine storage and packaging market: By end-use
- Forwarding & Clearing Agents
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