Global Vaccine Storage & Packaging Market

Vaccine Storage & Packaging Market Size, Share, Growth Analysis, By Storage Type(Refrigerator, storage equipment, freezer, others), By Packaging Type(Vaccine Bags, Ampoules, Corrugated Boxes, others), By End Use Industry(Diagnostic Centres, Clinical Research Organization, Other Healthcare Units), By Function(Storage, Packaging), By Region - Industry Forecast 2024-2031

Report ID: SQMIG15G2056 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 118 | Figures: 77

Vaccine Storage & Packaging Market Regional Insights

Globally, Europe dominated the vaccine storage & packaging market and accounted for a strong market share in 2021 owing to rising number of government initiatives regarding vaccination programs, high prevalence of various infectious diseases, and focus on research & development of new vaccines in the region. In addition, the presence of many large market players including Gerresheimer AG and DB Schenker with many years of expertise in the region is also expected to boost the growth of the vaccine storage & packaging market during the forecast period.

Furthermore, MEA region is anticipated to witness fastest CAGR during the forecast period. Increasing healthcare infrastructure and continuously rising investments by several government and private institutions are projected to be the major driving factor for the market in the coming years. In addition, rising number of immunization programs in South Africa and creating generating opportunities for the international players to enter in their countries are further expected to boost the demand and growth in the region.

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Vaccine Storage & Packaging Market size was valued at USD 8.39 billion in 2019 and is poised to grow from USD 9.24 billion in 2023 to USD 17 billion by 2031, growing at a CAGR of 10.2% in the forecast period (2024-2031).

The vaccine storage & packaging market is fairly competitive with the presence of several international and regional players around the globe. Key players of the market are implementing on many business strategies such as product launches, acquisitions, mergers, and collaborations for the expansion of their geographical presence and product portfolio. For instance, in March 2021, Helmer Scientific announced the launch of its new and advanced GX Solutions freezers for vaccines, sample storage, and blood therapy for various healthcare applications along with features like noise reduction, deduction in energy consumption, and maintained temperature performance. 'Helmer Scientific', 'Thermo Fisher Scientific', 'VWR International', 'Haier BioMedical', 'Eppendorf AG', 'Panasonic Healthcare', 'B Medical Systems', 'PHC Corporation', 'Biomedical Solutions Inc.', 'Stirling Ultracold', 'Z-SCI', 'REMI GROUP', 'Amerex Instruments', 'Blue Star Limited', 'Aegis Scientific', 'Coldchain Technology Services', 'ConvaTec Group PLC', 'CytoTherm', 'Greiner Bio-One', 'Helix Health Science'

Rise in the demand for immunization refrigerators and increasing focus on storage equipment for various type of vaccines are projected to be the major driving factors for the vaccine storage & packaging market over the forecast period. The Centers for Diseases Control and Prevention is highly focusing on creating awareness regarding storage practices for vaccines to protect individuals from various types vaccine-preventable diseases, which is likely to propel the demand for vaccine storage & packaging market in the coming years.

Increasing research & development activities in healthcare infrastructure, development of cold chain facilities, and rising penetration among end-use sectors including diagnostic centers, hospitals and research programs are fueling the market growth across the world. Major companies of the industry are highly focusing on the development of latest technology products and devices for the ease of use and comfort for consumers. A rapid growth in the population across the world has led to increase in disease, which has resulted positively to the vaccine storage & packaging market.

Globally, Europe dominated the vaccine storage & packaging market and accounted for a strong market share in 2021 owing to rising number of government initiatives regarding vaccination programs, high prevalence of various infectious diseases, and focus on research & development of new vaccines in the region. In addition, the presence of many large market players including Gerresheimer AG and DB Schenker with many years of expertise in the region is also expected to boost the growth of the vaccine storage & packaging market during the forecast period.

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Global Vaccine Storage & Packaging Market

Report ID: SQMIG15G2056

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