The global sales of vaccine packaging is estimated to be worth USD 1,523.2 million in 2024 and anticipated to reach a value of USD 2,569.2 million by 2034. Sales are projected to rise at a CAGR of 5.4% over the forecast period between 2024 and 2034. The revenue generated by vaccine packaging in 2023 was USD 1,454.5 million. The industry is anticipated to exhibit a Y-o-Y growth of 4.7% in 2024.
Prefilled syringes are anticipated to hold 1/6th of the market share in 2024. It is further projected to expand at a 4.3% growth rate in the upcoming decade and create growth opportunities for the market. Prefilled syringes eliminate the need to draw out vaccines and enhance convenience. They are ready to use and ease out the vaccination process. They also provide accuracy in dosage, enhance safety, and reduce contamination.
Global Vaccine Packaging Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2023 | USD 1,454.5 million |
| Estimated Size, 2024 | USD 1,523.2 million |
| Projected Size, 2034 | USD 2,569.2 million |
| Value-based CAGR (2024 to 2034) | 5.4% |
Plastic among materials is projected to capture 1/5th of the value share expanding at 3.2% CAGR in the forecast period. Plastic has high strength and durability which reduce the risk of damage or breakage during transportation. They are lightweight and flexible, and versatility allows them to be molded in vials, ampoules, and prefilled syringes and reduce the transportation cost. Inexpensiveness along with the barrier and chemical resistance of plastic attracts manufacturers to use plastic in vaccine packaging.
Clinical research and organizations are anticipated to have more than 28% of the market share and expand at 3.7% during assessment years. Clinical research institutions are continually involved in the development and testing of new vaccines. They require specialized, and reliable packaging at various states in clinical research.
The vaccine packaging industry is set to experience upward growth during the forecast period. It is projected to create an incremental opportunity of USD 1,114.8 million and is predicted to rise 1.7 times the current market value through 2034.
Globally, the high demand for vaccines has been encouraged by the rise of the spreading infectious illness and efforts to promote or run vaccination programs. The global vaccine packaging market is being propelled along by rising demand for vaccines from various end-use companies. Growing development in vaccine R&D by medical institutions, healthcare and pharmaceutical companies, as well as substantial involvement of the government in vaccination campaigns, have driven up the demand for vaccine packaging over the last years.
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The above table presents the expected CAGR for the global vaccine packaging market over several semi-annual periods spanning from 2024 to 2034. In the first half (H1) of the year from 2023 to 2033, the business is predicted to surge at a CAGR of 4.8%, followed by a slightly higher growth rate of 5.0% in the second half (H2) of the same year.
| Particular | Value CAGR |
|---|---|
| H1 | 4.8% (2023 to 2033) |
| H2 | 5.0% (2023 to 2033) |
| H1 | 5.2% (2024 to 2034) |
| H2 | 4.5% (2024 to 2034) |
Moving into the subsequent period, from H1 2024 to H2 2034, the CAGR is projected to increase slightly to 5.2% in the first half and remain relatively moderate at 4.6% in the second half. In the first half (H1) the market witnessed an increase of 40 BPS while in the second half (H2), the market witnessed a decrease of 50 BPS.
Prefilled Syringes are Preferring by Regulatory Bodies due to their more Sustainability Footprints
Packaging sustainability is a rising area of dialogue and coordination between states, industry, universities and regulatory bodies. To improve the natural, social and economic resilience of packaging, product advances and content production would be crucial. Vials made of glass significantly dominate the entire vaccine packaging market, as they are non-reactive with contents and can deliver multi-doses in a single pack. However, from a sustainability benefit point of view, prefilled syringes are now taking over the vials.
Being unit-dose, and ready-to-administer, prefilled syringes are "safety-by-design" because of their intrinsic ease of usage, removal of many error-prone steps in the preparing and delivery of the vaccine, decreased risk of cross-contamination of the syringe, and guarantee of the proper dose for each injection. In comparison, printed peel-off labels on prefilled vaccine syringes make it easy to record batch numbers and update the immunization record of the patient at a faster rate than vials.
Strong Pharma Bases in the Developed Countries to Support Vaccine Packaging Companies
USA encompasses most of the top pharmaceutical R&D and manufacturing companies that especially deal with vaccines for various diseases. Pfizer Inc., Johnson & Johnson, Merck & Co., Inc., AbbVie Inc., Eli Lilly and Company and many others have their bases USA which will otherwise play a significant role in demand for vaccine packaging. Pfizer manufactures more than 200 million doses of Pfizer vaccines annually and is one of the largest sterile injectable suppliers in the world, producing more than 1 billion sterile units per year.
The adoption of vaccines for Coronavirus besides regular diseases is expected to rise considerably across hospitals and healthcare facilities across the UK. For the same, the government is taking strategic moves, to ensure the supply of vaccines should be regular.
Mumbai-based pharmaceutical and biotechnology giant Wockhardt has announced a new deal it has inked with the British government to supply millions of doses of various COVID-19 vaccines for the United Kingdom population. As per the agreement, over the next few months, Wockhardt is expected to fill vials with around 30 million doses of the vaccine candidate developed jointly by the University of Oxford and AstraZeneca.
Lack of Centralized Procedure for Drug Registration on Vaccine packaging
Vaccine packaging manufacturers face the challenge of addressing market dynamics differently for different countries due to the lack of drug centralization which creates the gap between the industry and regulating authorities. Manufacturers operating in the associated industry segments, such as vaccine packaging face challenges arising from industry rifts in achieving transparency, timeliness, predictability, and quality of the business offering.
Further, unpredictability in regulations of the pharmaceutical industry hamper long-duration business relations and restrict the scope of income growth and prospects rising from these business relations. Regulations and guidelines subject to pharmaceutical products impact investments in vaccine packaging solutions as pharmaceutical companies invest heavily in intellectual property such as brand names, trademarks, etc.
Principal Consultant
The global vaccine packaging industry recorded a CAGR of 4.7% during the historical period between 2019 and 2023. The growth of vaccine packaging industry was positive as it reached a value of USD 1,454.5 million in 2023 from USD 921.6 million in 2019.
The rise of the global vaccine packaging market is fueled by an increase in demand for end-use sectors such as diagnostic centres, hospitals, research programs, and other healthcare units. Globally, North America and Europe become the prominent regions in terms of the demands for vaccines among the end-use segment.
The market is mainly driven by the fact that it regulates and maintains the required internal temperature and ensures the safe shipment of goods. Additionally, rising rates of infectious diseases and increasing healthcare expenditure have increased the demand for vaccine packaging.
The demand growth for vaccines caused by the large number of vaccines acquired by consumers and from the major vaccination drives or programs organized by mainstream organizations such as WHO, and UNICEF have boosted demand for vaccine packaging solutions significantly.
Vaccines will continue to play a critical role in the control of infectious illnesses. As vaccine research improves, the therapeutic prospects in the field of non-infectious illnesses will expand even further. Recombinant vaccines and designed vectors are anticipated to be seeing growing interest in vaccine technology.
As per the World Health Organization (WHO), the global vaccination rate is estimated to be over 85% in 2022. UNICEF has reported that is staggering 20.5 million children have remained either unvaccinated or under-vaccinated in 2022. Considering vaccinations enormous and expanding clinical impact, the global industry is becoming increasingly lucrative.
Tier 1 companies comprise market leaders with a market revenue of above USD 26 million capturing a significant market share of 7 to 12% in the global market. These market leaders are characterized by high production capacity and a wide product portfolio.
These market leaders are distinguished by their extensive expertise in manufacturing across multiple packaging formats and a broad geographical reach, underpinned by a robust consumer base. They provide a wide range of products utilizing the latest technology and meeting the regulatory standards providing the highest quality. Prominent companies within Tier 1 include Becton, Dickinson & Company, SCHOTT AG, and Catalent, Inc.
Tier 2 companies include mid-size players with revenue of USD 15 to 26 million having presence in specific regions and highly influencing the local market. These are characterized by a limited presence overseas and well-maintained market knowledge.
These market players have good technology and ensure regulatory compliance but may not have advanced technology and wide global reach. Prominent companies in tier 2 include Stevanato Group, West Pharmaceutical Services, Inc., Gerresheimer AG, SGD S.A, Stevanato Group, Nipro Corporation, and Corning Incorporated.
Tier 3 includes the majority of small-scale companies operating at the local presence and serving niche markets having revenue below USD 15 million. These companies are notably oriented towards fulfilling local market demands and are consequently classified within the tier 3 share segment.
They are small-scale players and have limited geographical reach. Tier 3, within this context, is recognized as an unorganized market, denoting a sector characterized by a lack of extensive structure and formalization when compared to organized competitors.
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The section below covers the industry analysis of the vaccine packaging market for different countries. Market demand analysis on key countries in several regions of the globe, including North America, Asia Pacific, Europe, and others, is provided.
The United States is anticipated to remain at the forefront in North America, with a value share of 87.5% through 2034. In South Asia, India is projected to capture almost 47% of value share by 2034 end.
| Countries | Value CAGR (2024 to 2034) |
|---|---|
| USA | 2.8% |
| Germany | 2.3% |
| UK | 2.7% |
| Brazil | 3.1% |
| India | 6.7% |
| China | 6.2% |
| Japan | 4.3% |
| GCC Countries | 2.4% |
Aged people are more prone to chronic diseases which is an effective driving factor for the vaccine packaging market. In Japan, 1 out of 10 people are above 80 years or older and the country is rated to have the world’s oldest population.
According to the World Economic Forum, almost 1/3rd of Japan's population is over 65 years which accounts for 36.23 million people contributing to the older population. This is the major factor influencing the demand for vaccine packaging in the country. Japan is anticipated to at 2.4% CAGR and capture 1/4th of market share in East Asia by 2024 end.
India is anticipated to capture a 47% value share in South Asia by the end of the forecast period. India Brand Equity Foundation (IBEF) estimated that the Indian pharmaceutical industry is witnessing remarkable growth with revenue of USD 65 billion in 2024 and it is anticipated to reach 450 billion by 2030 end.
Indian pharmaceutical industry is expanding due to rising consensus to provide innovative treatments and therapies to patients. India is continually innovating and developing drugs to treat numerous diseases at the lowest cost and highest quality, resulting in its preference worldwide. India also leads in population and the increasing population of toddlers in the country boosts the demand for vaccines. The expansion and innovation in medication in India will create a future growth opportunity for the vaccine packaging industry.
The USA leads in North America with 87% of the market share in 2024 and is anticipated to expand at 2.8% during the assessment period. According to the Centre for Disease Control and Prevention (CDC), 1,603,844 cancer cases were reported in the United States out of which 602,347 died due to cancer in the year 2020. 403 new cancer cases are being reported for every 100,000 people out of which 104 died because of cancer.
These deaths are because of the unavailability of treatments and medications for treating and saving patients. This is expected to create a focus on clinical trials to develop drugs for cancer treatment in the USA which significantly drive the demand for vaccines in the region for preventing such diseases.
The section contains information about the leading segments in the industry. Vials among packaging types are mostly used in vaccine packaging estimated to capture more than 80% of the market share throughout 2034. Additionally, glass as a material widely adopted in vaccine packaging is projected to reach 80% of value share by 2034 end. Diagnostic centers among end use are majorly consuming the vaccine packaging by capturing the major market share of 68% in 2034.
| Packaging Type | Vials |
|---|---|
| Value Share (2034) | 85.1% |
Vials among packaging types dominate the market in terms of revenue, accounting for almost 81.6% of the market share in 2024. It is further anticipated to expand at 4.2% during the forecast years. Vials are predominantly used in vaccine packaging because of their efficacy, reliability, and integrity of vaccines from production to administration.
Prevention of contamination and sterility is essential to maintain the quality of the vaccines. Vials are safe and they are salad with stoppers and caps that maintain the vaccine's integrity from production to administration. Vials are sensitive to environmental factors which is an excellent factor for protecting vaccines from contamination.
| Material | Glass |
|---|---|
| Value Share (2034) | 79.9% |
Glass is the most commonly utilized material in the production of vaccine packaging. Vaccine packaging containers have a high level of sustainability and safety which makes them an ideal choice among vaccine packaging manufacturers. Glass offers excellent barrier properties against air, moisture, and other environmental factors.
Chemical inertness and high sterility standards of glass make them ideal for vaccine packaging purposes. Glass reduces the leachables and extractables that maintain the vaccine sterility and their temperature stability makes them withstand different temperatures. Glass is forecast to expand by grow at 4.2% and reach 80% of value share in 2034.
| End Use | Diagnostic Centers |
|---|---|
| Value Share (2034) | 68.7% |
Diagnostic centres have been a primary factor in vaccine packaging demand all around the world. The diagnostic centres are the primary revenue and demand generators for vaccine packaging, expected to capture 66% of the value share and record a 3.9% growth rate during the forecast period.
Diagnostic centres are significantly engaged in mass vaccination, immunization campaigns, outbreaks, etc. which boost the demand for vaccine packaging. These centres are essential in epidemics and pandemics that require huge vaccination. Rising demand for vaccination is increasing the diagnostic centres importance for controlling the spread of epidemics.
Key players operating in the vaccine packaging market are investing in advanced facilities, technology, and materials. Key vaccine packaging providers have also been acquiring smaller players to grow their presence to further penetrate the local market across multiple regions.
The market's top players are aiming to expand their worldwide presence, increase their product offerings, and accelerate the development process to obtain a competitive advantage. In addition, most industries are using marketing methods like mergers and acquisitions to expand their market reach and improve their position.
Recent Industry Developments in Vaccine Packaging Market
In terms of packaging type, the industry is divided into vials, prefilled syringes, ampoules and bags & pouches.
In terms of material, the industry is segregated into plastic, glass, polystyrene and others (metallic films, etc.).
The industry is classified by end use industries as diagnostic centres, clinical research organization and other healthcare units.
Key countries of North America, Latin America, Europe, East Asia, South Asia, Middle East and Africa (MEA), and Oceania have been covered in the report.
The global vaccine packaging industry is projected to witness CAGR of 5.4% between 2024 and 2034.
The global vaccine packaging industry stood at USD 1,454.5 million in 2023.
The global vaccine packaging industry is anticipated to reach USD 2,569.2 million by 2034 end.
East Asia is set to record the highest CAGR of 5.9% in the assessment period.
The key players operating in the global vaccine packaging industry include includes Becton, Dickinson & Company, SCHOTT AG, and Catalent Inc.
1. Executive Summary
2. Industry Introduction
2.1. Market Taxonomy
2.2. Market Definition
3. Market Trends and Success Factors
4. Market Background
4.1. Macro-economic and Industry Outlook
4.2. Market Dynamics
4.3. Value Chain Analysis
4.4. List of Key Market Participants (Manufacturers/Channel Partners)
4.5. Analysis of Key Industry Matrices
4.6. Industry Development Roadmap
5. Global Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034
5.1. Historical Market Volume Analysis
5.2. Future Market Volume Projections
6. Pricing Analysis
7. Global Market Value (USD) Analysis 2019 to 2023 and Forecast 2024 to 2034
7.1. Historical Sales Analysis
7.2. Future Market Size and Growth Projections
8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, Material Type
8.1. Plastic
8.2. Glass
8.3. Polystyrene
8.4. Others (Metallic Films)
9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Packaging Type
9.1. Standard
9.2. Vials
9.3. Prefilled Syringes
9.4. Ampoules
9.5. Bags and Pouches
10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by End Use
10.1. Diagnostic Centres
10.2. Clinical research Organization
10.3. Other Healthcare Units
11. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Region
11.1. North America
11.2. Latin America
11.3. Europe
11.4. East Asia
11.5. South Asia
11.6. Middle East and Africa (MEA)
11.7. Oceania
12. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Market Segments and Country
13. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Market Segments and Country
14. Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Market Segments and Country
15. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Market Segments and Country
16. South Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Market Segments and Country
17. Middle East and Africa (MEA) Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Market Segments and Country
18. Oceania Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Market Segments and Country
19. Sales Analysis 2024 & 2034 by Key Market Segments for 30 Countries
20. Competition Outlook including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard
21. Company Profile
21.1. Gerresheimer AG
21.2. West Pharmaceutical Services, Inc.
21.3. Becton, Dickinson & Company
21.4. SCHOTT AG
21.5. SGD S.A.
21.6. Stevanato Group
21.7. Nipro Corporation
21.8. Piramal Glass Private Limited
21.9. UDG Healthcare plc
21.10. Catalent Inc.
21.11. Pacific Vial Manufacturing Inc.
21.12. DWK Life Sciences
21.13. Acme Vial and Glass
21.14. Origin Pharma Packaging
21.15. Corning Incorporated
21.16. Cole-Parmer Instrument Company LLC
21.17. Terumo Corporation
21.18. Fengchen Group Co.Ltd
21.19. SHANDONG MINGTAI GLASS PRODUCTS CO.,LTD
21.20. DONGSIN Tube Glass lnd Co. Ltd.
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Vaccine Packaging Market
