A newly released market analysis report by Future Market Insights highlights significant growth in the global COVID-19 Vaccine Packaging and Delivery Devices Market, which reached a value of USD 1.1 billion in 2022. The market is projected to expand at a compound annual growth rate (CAGR) of 7.1% from 2023 to 2033, doubling in size to achieve an estimated valuation of USD 2.2 billion by 2033.
The ongoing demand for COVID-19 vaccinations, coupled with advancements in vaccine packaging and delivery technologies, is driving market expansion. Efficient, safe, and sterile packaging solutions are crucial to supporting large-scale vaccination efforts worldwide, ensuring that vaccines are delivered effectively and securely.
Key Segment Insights:
- Syringes are expected to dominate the market as the highest revenue-generating segment. The report forecasts that the syringes segment will grow at a CAGR of over 6.8% from 2023 to 2033, driven by the increasing need for precise, single-use delivery devices in mass immunization programs.
As vaccination campaigns continue globally, the demand for reliable vaccine packaging and delivery devices, such as vials, syringes, and other administration tools, remains robust. This growth is fueled by ongoing efforts to enhance vaccine distribution networks and improve access to immunization in both developed and developing regions.
Market Overview:
- Global sales in 2022: US$ 1.1 billion
- Expected valuation by 2033: US$ 2.2 billion
- Projected CAGR: 7.1% from 2023 to 2033
- Syringes segment anticipated to grow at a CAGR of 6.8% through 2033
The report emphasizes the importance of continuous innovation in vaccine packaging and delivery to meet the evolving demands of global healthcare systems. With increasing investments in vaccine production and delivery infrastructure, the market for COVID-19 vaccine packaging and delivery devices is set for strong growth over the next decade.
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.
Competitive Landscape
The global vaccine delivery devices market is characterized by a high level of collaboration, partnerships, and acquisitions, as key players seek to strengthen their market positions and expand their capabilities.
Major companies operating 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.
Recent strategic moves by key players demonstrate their commitment to innovation and market expansion:
- In August 2022, the Serum Institute of India acquired a 50% stake in Schott Kaisha, a leading company in pharmaceutical packaging. This acquisition enhances Schott Kaisha’s capabilities in producing vials, syringes, and cartridges. Schott AG, based in Germany, is a renowned producer of these packaging solutions.
- In March 2022, Novavax entered into a collaboration with the UK Government Vaccines Taskforce and GSK to support the production of approximately 60 million doses of Novavax’s COVID-19 vaccine candidate.
- In April 2020, Pfizer and BioNTech announced a partnership aimed at accelerating the development of multiple COVID-19 vaccine candidates. Using BioNTech’s mRNA vaccine platforms, the collaboration sought to provide rapid global access to vaccines, subject to regulatory approvals.
These developments highlight the dynamic nature of the market, as companies leverage partnerships, joint ventures, and acquisitions to enhance their product offerings and meet the global demand for COVID-19 vaccines. Further details and additional developments in the market are available in the full report by Future Market Insights.
Market Segments Covered in COVID-19 Vaccine Packaging and Delivery Devices Market Analysis
By Product Type:
- Vials
- Plastic
- Glass
- Syringes
- Empty
- Prefilled
By Region:
- North America
- Latin America
- Europe
- APAC
- Middle East and Africa (MEA)
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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