APAC Vaccine Packaging Market - Outlook and Forecast 2023-2028
- Market Report
- ID: XHA265AA
- Delivery Time: 1 Business Day
- Tag: Vaccine Packaging
Market Overview
The APAC vaccine packaging market recorded a value of $695.5 million in 2022 and is anticipated to reach $1,149.4 million by 2028, reflecting a compound annual growth rate (CAGR) of 8.73% throughout the study period.
Vaccine packaging involves the secure packaging of vaccines to maintain their therapeutic potency over a specific duration. Primary packaging components for vaccine products include vials, ampoules, prefilled syringes, bags, and pouches.
Product Type | Market Report |
---|---|
No. of Pages | 96 |
Release Date | May 2023 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Market Size | USD 1149.4 Mn incremental growth between 2022 and 2027 |
Market Segments | Packaging Level, Packaging Type, Material Type, End-user Type, and Region |
Region | APAC |
No. of Companies Mentioned | 19 |
The APAC vaccine packaging market is experiencing substantial growth attributed to increased research and development (R&D) activities driven by the prevalence of various infectious diseases, the presence of leading vaccine manufacturers, well-established infrastructure, high investments in drug development, and growing government initiatives.
By 2028, the market is expected to nearly double its current value as a result of new product approvals, technological advancements, and a continuously expanding target patient population. Continuous development and introduction of innovative products are crucial for vendors operating in this highly competitive APAC market to achieve robust sales growth and expand their market share.
Technological innovations encompass the development of compact pre-filled auto-disable devices (CPADs), polymer-based primary containers or vials, dual-chamber delivery devices, and eco-friendly packaging solutions. Advances in pharmaceuticals themselves, such as blow-fill-seal (BFS) vials, anti-counterfeit measures, snap-off ampoules, unit dose vials, two-in-one prefilled vial designs, prefilled syringes, and child-resistant packs, directly impact vaccine packaging requirements.
The increasing demand for vaccine products, driven by the rising prevalence of infectious diseases and heightened health awareness, propels the growth of the APAC vaccine packaging market. As a result, the market will benefit from packaging developments during the forecast period, particularly in the form of sustainable and environmentally-friendly vaccine packaging solutions.
Market Segmentation
The market is segmented based on various factors, including packaging level, packaging type, material type, end-user type, and region.
Segmentation by Packaging Level
Primary
Secondary
Tertiary
Segmentation by Packaging Type
Vials
Ampoules
Syringes
Others
Segmentation by Material Type
Glass
Plastic
Others
Segmentation by End-user Type
Pharmaceuticals & Biotech Companies
Healthcare Facilities
Others
Segmentation by Region
China
Japan
India
South Korea
Australia
In the APAC vaccine packaging market, primary packaging holds the largest share, surpassing 71%. This can be attributed to the increasing demand for vials, ampoules, and syringes driven by the growing need for vaccines. Among the primary packaging types, vials packaging accounts for a market share of 38.07% in the APAC vaccine packaging market, establishing its dominance over other segments due to its widespread utilization as a crucial primary packaging component for vaccine products.
When considering material types, glass captures a significant share of 44.09% in the APAC vaccine packaging market. This can be attributed to the external barrier properties of glass and its high demand for primary packaging purposes.
Pharmaceutical and biotech companies hold the largest share, exceeding 47%, in the APAC vaccine packaging market. This growth is driven by factors such as the rise in communicable and infectious diseases, the growing aging population, increasing demand for vaccines, and innovations in vaccine development. These factors collectively contribute to the expansion of the vaccine packaging industry.
In 2022, China emerges as the dominant player in the vaccine packaging market, holding the highest revenue share of 30.98%, followed by Japan with 26.03% and India with 22.73%.
Competitive Landscape
The vaccine packaging market is characterized by intense competition. As the healthcare industry becomes increasingly digitalized, numerous small and mid-sized companies have entered the market to enhance their foothold in this rapidly expanding sector. In addition to this trend, the focus on developing and discovering advanced technologies has enabled key players to attract a substantial customer base.
Key companies profiled in this report include SCHOTT, Gerresheimer AG, Stevanato Group, SGD Pharma, Amcor, WestRock Pharmaceuticals, Panasonic Health Corporation, Aptar Group, Cognex, Corning International, Airnov, BD, Bilcare, Borosil, CCL, DWK Life Sciences, Meghmani, Comar, Nipro.
Key Questions Answered
What is the size of the APAC Vaccine Packaging market?
What are the current trends in the APAC Vaccine Packaging market?
Who are the major players in the APAC Vaccine Packaging market?
Which end-user segment holds the largest share in the APAC Vaccine Packaging market?
Which packaging type segment dominates the Vaccine Packaging market?
Which APAC country has the highest market share in the Vaccine Packaging market?
How is each market segment projected to grow during the forecast period?
USD 1,800 Original price was: USD 1,800.USD 1,080Current price is: USD 1,080.