US Vaccine Packaging Market - Outlook and Forecast 2023-2028
- Market Report
- ID: VHA263UA
- Delivery Time: 1 Business Day
- Tag: Vaccine Packaging
Market Overview
The vaccine packaging market in the United States was valued at $923.7 million in 2022 and is projected to reach $1,385.7 million by 2028, exhibiting a compound annual growth rate (CAGR) of 6.99% during the forecast period. In 2022, the primary vaccine packaging segment accounted for 71.13% of the US vaccine packaging market based on the packaging level. Over the past few decades, the US vaccine market has seen significant advancements, largely attributed to its strong focus on research and development (R&D) activities.
Vaccine packaging encompasses the secure packaging of vaccines to preserve their therapeutic efficacy for a specified duration. This includes packaging vaccines in vials, ampoules, prefilled syringes, and bags & pouches, which serve as the initial level of packaging. When vaccines are produced in bulk, they are typically bottled in glass vials and appropriately packaged for safe cold storage and transportation.
Product Type | Market Report |
---|---|
No. of Pages | 58 |
Release Date | May 2023 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Market Size | USD 923.7 million in 2021 |
Market Segments | Packaging Level, Packaging Type, Material Type, and End-user Type |
Region | US |
No. of Companies Mentioned | 25 |
The US market is experiencing substantial growth due to increasing R&D activities driven by the prevalence of various infectious diseases, the presence of leading pharmaceutical companies, significant investments in drug development, well-developed infrastructure, and extensive government involvement in vaccination programs. Among the different material types, glass containers have witnessed rapid growth owing to their superior external barrier properties and high demand for primary packaging purposes.
Market Segmentation
The market is segmented based on various factors, including packaging level, packaging type, material type, and end-user type.
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
In 2022, the United States held a significant market share in the North American vaccine packaging market. This can be attributed to several factors, including increased research and development (R&D) activities driven by the prevalence of various infectious diseases, the presence of leading pharmaceutical players, high investments in drug development, well-developed infrastructure, and substantial government involvement in vaccination programs.
Within the US vaccine packaging market, primary packaging accounted for the highest share, surpassing 70%. This can be attributed to the growing demand for vials, ampoules, and syringes, which aligns with the increasing demand for vaccines.
When considering primary packaging types, vials packaging emerged as the dominant segment, representing a market share of 38.13% in the US vaccine packaging market. This is primarily due to the widespread use of vials as an essential primary packaging component for vaccine products.
Examining material types, the glass segment holds a significant share of 44.05% in the US vaccine packaging market. This can be attributed to the external barrier properties offered by glass packaging and its high demand for primary packaging purposes.
In terms of market share by industry, pharmaceutical and biotech companies accounted for the largest portion, exceeding 46%, in the US vaccine packaging market. This can be attributed to factors such as the rise in contagious or infectious diseases, the growing aging population, and the increasing demand for vaccines. Additionally, innovations in vaccine development also contribute to the growth of the vaccine packaging industry.
Competitive Landscape
The market presents significant growth prospects for both established and upcoming players, driven by advancements in oncology, infectious diseases, autoimmune disorders, chronic conditions, and rare diseases.
Key companies profiled in this report include SCHOTT Pharma, Gerresheimers AG, Stevanato Group, SGD Pharma, WestRock Pharma, Amcor, Aptar Group, Corning International, Catalent, Becton, Dickinson and company (BD), Panasonic Health Corporation, Cognex, Airnov, Bilcare Research, DHL, Borosil, CCL, Drug Plastics Group, DWK Life Sciences, LOG, Eppendorf, Renolit, Qorpak, Nipro, Medical Packaging LLC.