Global Vaccine Vials Market- Market Overview:

The global vaccine vials market is expected to grow from USD 579.6 million in 2022 to USD 1273 million by 2030, at a CAGR of 10.4% during the Projection period 2023-2030. The growth of this market is mainly driven owing to the rising awareness about the benefits of timely immunization.

The vaccine vial is a cylindrical, small-sized glass container used to store liquid medicines i.e., vaccines. In addition to being highly resistant to enzymes and moderately resilient to temperature changes, they are chemically inert, so they do not react with the substances they are storing. The purpose of a vaccine is to stimulate the production of antibodies and build the immune system so that it protects the host in the event of future infections. It protects the body from severe illness and death. Vaccines are mostly prepared to protect the human body from infectious and non-infectious diseases caused by bacteria and viruses. A major factor driving the global demand for vaccine vials is the growing number of individuals with chronic illnesses and viral infections. As the world's population ages, its risk of severe medical ailments increases, and healthcare infrastructure and medical services improve, the market is also expected to grow. Furthermore, it is also expected that key players will implement vaccine vial monitors, which will indicate the vaccine has been exposed to cumulative heat by changing colour. Additionally, these monitors can help health workers determine whether vaccines have exceeded predetermined limits beyond which they shouldn't be used, which should lead to a positive market outlook for vaccines.

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Market Dynamics:

Drivers:                          

• Increasing healthcare expenditure

The increase in healthcare expenditure will be used to strengthen research institutions and pharmaceutical companies as well as to develop the healthcare infrastructure. By increasing funding, more research will be conducted in order to better understand pathogens, viruses, and bacteria in the future, develop better vaccine materials and improve medical equipment and machinery to produce medical packaging more efficiently.

Restraints:         

• High cost

There will be major restraints to the growth of the pharmaceutical vials market due to the increasing price of packaging. Further, manufacturers have a difficult time producing innovative pharmaceutical vial products because of the release of chemicals on the interior surface of glass tubing containers.

Opportunities:

• Glass vial packaging is rising

As a result of its ease of sterilization and incompatibility with most medicines and drugs, glass packaging is highly favoured in the pharmaceutical industry. Coloured glass packaging protects drugs from UV rays, and other wavelengths, making it an ideal material for packaging pharmaceuticals. Additionally, it is easy to recycle and accessible everywhere, so it makes an excellent packaging material.

Challenges:

• Poor infrastructure

In India, Bharat Biotech successfully completed human trials for vaccines like Covaxin, but their infrastructure did not allow them to scale their production. In the same manner, developing nations and underdeveloped countries are unable to inoculate their populations due to a lack of adequate and proper infrastructure. This will affect the growth of the global vaccine vial market.

Segmentation Analysis:

The global vaccine vials market has been segmented based on type, material, and region.

By Type

The type segment includes multi-dose and single-dose. The multi-dose segment led the largest share of the vaccine vials market with a market share of around 56.8% in 2022. Multi-dose vials held the largest market share in 2021 with a market share of around 52%. The multi-dose vial reduces the cost of purchasing one vaccine as well as supply chain logistics costs. Due to the reduction in cost made possible by multi-dose vials, its popularity has increased in low- and middle-income countries that have difficulty acquiring vaccines. The nation and the manufacturer gain more economic benefits from lower packaging and storage costs.

By Material

The material segment includes polymer and glass. The glass segment led the largest share of the vaccine vials market with a market share of around 65.3% in 2022. As chemically inert, highly resistant to enzymes, and reasonably resistant to temperature changes, borosilicate glass has been used for storing vaccines for over 100 years. New technological advancements have made it possible to create products like molded and hybrid glass vials that are better than borosilicate glass, and that are ideal for the storage of vaccines. The latest research and development in innovating better glass materials will contribute to the growth of the glass vaccine vials market over the Projection period, helping overcome the breakable and heavy nature of borosilicate glass.

Global Vaccine Vials Market- Sales Analysis.

The sale of vaccine vials expanded at a CAGR of 9.7% from 2016 to 2022.

Growing diseases and increasing vaccination will drive the growth of the vaccine vials market globally due to an increasing complexity of drugs, which increases the demand for parenteral drugs like insulin and corticosteroids.

As nations were ravaged by complacency, vaccination has continued at a fast pace. As a result of the increased covid-19 vaccines, the global vaccine vials market is expected to grow. In the years to come, the covid-19 pandemic has highlighted a growing threat of pathogens, bacteria, and viruses. In addition, vaccinations have been shown to be the most effective method of preventing death among citizens, so increased consumer awareness will drive the demand for vaccine vials in the near future.

In order to provide vaccines that can be deployed quickly to respond to new threats, modern vaccination technologies are primarily driven by the desire to speed up response times. In addition to developing vaccines against challenging targets, vaccine delivery technologies have also been improved to maximize potency.

Thus, owing to the aforementioned factors, the global vaccine vials market is expected to grow at a CAGR of 10.4% during the Projection period from 2023 to 2030.

By Regional Analysis:

The regions analyzed for the vaccine vials market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North American region dominated the vaccine vials market and held a 38.8% share of the market revenue in 2022.

• The North American region witnessed a major share. With a share of 37% of the global vaccine vials market revenue in 2021, North America is the largest market for vaccine vials. North America is currently dominated by significant market players. The government's renewed focus on developing preventive healthcare measures such as vaccines to protect citizens in case of future pandemics and prevalent endemic diseases also contributes to the region's dominance in the global vaccine vials market.
• Asia Pacific is anticipated to experience significant growth during the predicted period. Increasing government expenditure on healthcare infrastructure and an expanding pharmaceutical industry are expected to drive growth in Asia-Pacific. Due to the growing opportunities offered by the pharmaceutical industry in these countries, including vaccine packaging, glass packaging manufacturers and suppliers are shifting their bases to China, India, and Brazil.

Global Vaccine Vials Market - Country Analysis:

• Germany

Germany's vaccine vials market size was valued at USD 42.01 billion in 2022 and is expected to reach USD 93.37 billion by 2030, at a CAGR of 10.5% from 2023 to 2030.

The vaccine vials market is growing rapidly across the country as the pharmaceutical industry grows rapidly. Most of the growth of the pharmaceutical vials market comes from densely populated countries. Due to the increasing demand for vials, pharmaceutical production is increasing in these countries, and market growth is likely to continue.

• China

China’s vaccine vials market size was valued at USD 45.18 million in 2022 and is expected to reach USD 101.8 million by 2030, at a CAGR of 10.7% from 2023 to 2030.

A major reason for the market's expansion is the rising incidence of various viral infections and immunological disorders throughout the country. With the appearance of the Coronavirus, the demand for vaccine packaging facilities has increased significantly. In addition, growing consumer awareness of the importance of early detection and prevention of infectious diseases has fueled the market's growth and increased the demand for protective vaccines.

• India

India's vaccine vials market size was valued at USD 34.7 million in 2022 and is expected to reach USD 77.69 million by 2030, at a CAGR of 10.6% from 2023 to 2030.

 As a result of a growing number of government and private initiatives to promote immunization, the market for Indian vaccine vials is expected to grow at a significant rate during the projection period. As one example, the Indian government provides free health coverage to poor people through national programs every year; more than six crore people face financial hardship because of medical expenses.

Key Industry Players Analysis:  

To increase their market position in the global vaccine vials market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.

• DWK Life Sciences GmbH
• Stevanato Group
• Berlin Packaging LLC
• Gerresheimer AG
• Shandong Pharmaceutical Glass Co. Ltd.
• Anhui Huaxin Medicinal Glass Products Co. Ltd.
• Richland Glass Company Inc.
• Cardinal Health Inc.
• Thermo Fisher Scientific Inc.
• Catalent Inc.

Latest Development:

• In February 2022, Bormioli Pharma declared a sequence of collaborations aimed at increasing the sustainability and performance of glass used in the pharmaceutical sector, strengthening bottles' resistance to chemical substances and reducing the carbon footprint during glass production.
• In June 2020, As part of the White House's Operation Warp Speed Initiative, Corning, Inc. was awarded USD 204 million for the purpose of improving its domestic manufacturing capacity of Corning Valor Glass vials.

Scope of the Report

Global Vaccine Vials Market by Type:

• Multi-Dose
• Single-Dose

Global Vaccine Vials Market by Material:

• Glass
• Polymer

Global Vaccine Vials Market by Region:

• North America
  • S.
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • K.
  • Italy
  • Spain
  • Russia
• Asia-Pacific
  • Japan
  • China
  • India
  • Korea
  • Southeast Asia
• South America
  • Brazil
  • Peru
• Middle East and Africa
  • UAE
  • South Africa
  • Saudi Arabia