A newly released COVID-19 Vaccine Packaging and Delivery Devices Market analysis report by Future Market Insights reveals that global sales of the Covid-19 Vaccine Packaging and Delivery Devices in 2022 were held at USD 1.1 billion. With a CAGR of 7.1% from 2023 to 2033, the market is projected to reach a valuation of USD 2.2 billion by 2033. Syringes is expected to be the highest revenue-generating segment, projected to grow at a CAGR of over 6.8% from 2023 to 2033.
| Attribute | Details |
|---|---|
| Global Covid-19 Vaccine Packaging and Delivery Devices Market (2023) | USD 1.1 billion |
| Global Covid-19 Vaccine Packaging and Delivery Devices Market (2033) | USD 2.2 billion |
| Global Covid-19 Vaccine Packaging and Delivery Devices Market CAGR (2023 to 2033) | 7.1% |
| The USA Covid-19 Vaccine Packaging and Delivery Devices Market CAGR (2023 to 2033) | 7.5% |
| Key Companies Profiled | Stevanto Group; Schott AG; Gerresheimer AG; West Pharmaceutical Services Inc.; Becton Dickinson and Company; SGD Pharma; Catalent Inc.; B. Braun Melsungen AG; AptarGroup Inc.; Cardinal Health Inc.; Sealed Air Corporation; Hindustan Syringes & Medical Devices ; Ltd.; NIPRO Corporation; PGP Glass Private Limited; Zhejiang Kangkang Medical-Devices Co ; Ltd; Anhui JN Medical Device Co. Ltd.; Zhejiang Jinghuan Medical Apparatus ; Co. Ltd. |
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As per the COVID-19 Vaccine Packaging and Delivery Devices Market research by Future Market Insights - a market research and competitive intelligence provider, historically, from 2018 to 2022, the market value of the COVID-19 Vaccine Packaging and Delivery Devices Market increased at around 5.9% CAGR.
COVID-19 Vaccine Packaging and Delivery systems demand escalated due to the high death rate from COVID-19 infection in comparison to other viral infections such as influenza. Thus, the global demand for COVID-19 vaccination presented a significant chance for growth in the market. The need to package and transportation of the vaccines in time considering their sterilized state has created opportunities for the global COVID-19 Vaccine Packaging and Delivery Devices Market.
Many pharmaceutical companies are engaged in research and development and are likely to fabricate new serums in the market when new strains emerge. As packaging and delivery are an important part of each product's manufacturing, the market has significant growth opportunities during the forecasted period.
The COVID-19 Vaccine Packaging and Delivery Devices Market is also likely to boost throughout the forecasted period owing to an increase in the demand for needle-free products to reduce pain and injuries associated with vaccination along with increased attempts to develop vaccine delivery systems.
The market is being largely driven by expanding immunization programs, expanding vaccination efforts and campaigns, and rising Covid occurrences globally. The increasing financial assistance from the government and non-governmental organizations has resulted in numerous innovations in the area, consequently increasing market size.
Additionally, with the increasing financing and efforts towards research and development, the market will further witness an upside move. These efforts are aimed at developing a new vaccine and developing packaging material and delivery devices.
The demand for COVID-19 Vaccine Packaging and Delivery Devices is huge, especially in countries like India and China, which have almost one-third of the world population. In addition, since these countries have been most active in the manufacturing of Covid-19 vaccines, there exist significant growth prospects for the market in these countries.
The huge spike in the number of people affected by the Covid-19 virus created a huge demand for vaccines worldwide. The huge demand led to an increase in the manufacturing of these vaccines in order to curb its menace. The rising prevalence of communicable diseases and strong support from the government for vaccine manufacturing are key factors that lead to the demand for Vaccine packing and delivery. With the increased investment in the research and development of various new vaccines, the demand for the market will continue a forward path.
However, there are factors that hinder the market growth with the research and development focused towards needle-free distribution, which stymies the market growth as the demand for Vials, and syringes would reduce, which are the key revenue components for the Covid-19 Vaccine packaging and delivery market.
Principal Consultant
In 2022, North America held the largest share of the global COVID-19 Vaccine Packaging and Delivery Devices market. The regional market is expected to be driven by fast expansion in the healthcare sector and increased awareness of the advantages of vaccination.
Rising confidence of the public in the authorized vaccines and because of public willingness to be vaccinated, the market in the Asia Pacific is expected to grow at a rapid pace during the forecast period. Moreover, the increasing patient pool along with unmet vaccine demand in untapped regions further adds to the expansion of the market. Also, the presence of developing nations like India and China is expected to further boost the market.
The United States is expected to have the highest market share of USD 776 million by the end of 2033. The growth of the Covid-19 Vaccine Packaging and Delivery Devices market in the United States can be attributed to increased Research and Development (R&D) spending to bring advances in vaccination devices. Furthermore, the existence of strong players like Johnson & Johnson, Pfizer, and Moderna will drive the market in the country.
The market in the United Kingdom is expected to reach a valuation of USD 94 million by 2033, growing at a CAGR of 7.3% from 2023 to 2033. The market is projected to gross an absolute dollar opportunity of USD 48 million during the forecast period.
In Japan, the market is expected to reach a valuation of USD 115 million by 2033. During the forecast period, the market in the country is expected to garner an absolute dollar opportunity of USD 66 million, growing at a CAGR of 8.9%.
The market in South Korea is projected to grow at a CAGR of 8.4% from 2023 to 2033. During this period, the market is projected to witness an absolute dollar opportunity of USD 27 million and reach USD 49 million by 2033.
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Syringes commanded the largest revenue in the market, grew at a CAGR of nearly 5.4% from 2018 to 22, and are now forecasted to grow at a CAGR of 6.8% throughout the forecasted period. This is due to the advantages of using syringes over other alternatives. These are easy to use and distribute and at the same time are available at low cost. With the increased focus on research and technological advancements in syringes will significantly propel the market growth.
Collaboration, partnership, and acquisitions are common methods used by leading players in the worldwide vaccine delivery devices market.
Some of the key players in the Covid-19 Vaccine Packaging and Delivery Devices Market include Stevanto Group, Schott AG, Gerresheimer AG, West Pharmaceutical Services Inc., Becton Dickinson and Company, SGD Pharma, Catalent Inc., B. Braun Melsungen AG, AptarGroup Inc., Cardinal Health Inc., Sealed Air Corporation, Hindustan Syringes & Medical Devices Ltd., NIPRO Corporation, PGP Glass Private Limited, Zhejiang Kangkang Medical-Devices Co Ltd, Anhui JN Medical Device Co. Ltd., and Zhejiang Jinghuan Medical Apparatus Co. Ltd.
Some of the recent developments of key COVID-19 Vaccine Packaging and Delivery Devices providers are as follows:
Stevanto Group, Schott AG, and Gerresheimer AG are key players.
The market is forecasted to register a CAGR of 7.1% through 2033.
In 2022, North America held an exponential share of the global COVID-19 Vaccine Packaging and Delivery Devices market.
During 2018 to 2022, the market grew at a CAGR of 5.9%.
The United States, Japan, and China dominate the global market.
1. Executive Summary | COVID-19 Vaccine Packaging and Delivery Devices Market 2. Market Overview 3. Market Background 4. Global Covid-19 Vaccine Packaging and Delivery Devices Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Covid-19 Vaccine Packaging and Delivery Devices Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. Vials 5.1.1. Glass 5.1.2. Plastic 5.2. Syringes 5.2.1. Empty 5.2.2. Prefilled 6. Global Covid-19 Vaccine Packaging and Delivery Devices Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 6.1. North America 6.2. Latin America 6.3. Europe 6.4. Asia Pacific 6.5. Middle East and Africa 7. North America Covid-19 Vaccine Packaging and Delivery Devices Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 8. Latin America Covid-19 Vaccine Packaging and Delivery Devices Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Europe Covid-19 Vaccine Packaging and Delivery Devices Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Asia Pacific Covid-19 Vaccine Packaging and Delivery Devices Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Middle East and Africa Covid-19 Vaccine Packaging and Delivery Devices Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Key Countries Covid-19 Vaccine Packaging and Delivery Devices Market Analysis 13. Market Structure Analysis 14. Competition Analysis 14.1. Stevanto Group 14.2. Gerresheimer AG 14.3. West Pharmaceutical Services Inc. 14.4. Becton Dickinson and Company 14.5. SGD Pharma 14.6. Catalent Inc. 14.7. B. Braun Melsungen AG 14.8. AptarGroup Inc. 14.9. Cardinal Health Inc. 14.10. Sealed Air Corporation 14.11. Hindustan Syringes & Medical Devices Ltd. 14.12. NIPRO Corporation 14.13. PGP Glass Private Limited 14.14. Zhejiang Kangkang Medical-Devices Co Ltd 14.15. Anhui JN Medical Device Co. Ltd. 14.16. Zhejiang Jinghuan Medical Apparatus Co. Ltd. 14.17. Schott AG 15. Assumptions & Acronyms Used 16. Research Methodology
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COVID-19 Vaccine Packaging and Delivery Devices Market
