SAN FRANCISCO, May 18, 2021 /PRNewswire/ — The global COVID-19 vaccine packaging and delivery devices market size is anticipated to reach USD 3.6 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.4% from 2022 to 2028. High demand for immunization for the ongoing pandemic and manufacturer’s initiatives to expand their production capacities are the factors expected to boost the demand for packaging materials.
Key suggestions from the report:
- Based on the product, syringes held the largest proportion of the market share in 2021
- Prefilled syringes are expected to grow at the fastest rate owing to their advantages such as usage simplicity, low cost, and ease of distribution
- The plastic vials segment is anticipated to register a lucrative CAGR during the forecast period
- The glass vials segment accounted for a major proportion of the market share in 2021
- The empty syringes segment is expected to grow at a healthy rate due to the speeding COVID-19 vaccination rates globally
- North America holds the largest share in this market. The U.S. is one of the major suppliers globally
- In Asia Pacific, the market is expected to grow at the fastest rate over the forecast period due to building people trust in the approved vaccines and the public readiness to get vaccinated
Read 130 page research report with ToC on «COVID-19 Vaccine Packaging And Delivery Devices Market Size, Share & Trends Analysis Report By Product (Syringes, Vials), By Region (North America, Europe, APAC, Latin America, MEA), And Segment Forecasts, 2022 – 2028» at: https://www.grandviewresearch.com/industry-analysis/covid-19-vaccine-packaging-delivery-device-market
The hurtling vaccine inoculation rate and growing public trust in COVID-19 vaccines are anticipated to fuel the growth of the market. According to the global attitude towards the COVID-19 vaccine survey, the share of people going for immunization has increased significantly in 2021. The increasing public willingness to get vaccinated early is expected to drive the manufacturing and distribution process, propelling market growth over the forecast period.
The increasing funding and investments in R&D activities specific to the development of an innovative vaccine, packaging material, and delivery devices are anticipated to fuel the growth of the market during the forecast period. For instance, the federal government of the U.S. invested USD 143 million to develop plastic alternatives to conventional glass vials for the storage of biological liquids.
Scientists around the world are investigating the scope of needles free delivery that would eliminate the need for vials and syringes hindering the market growth in the extended run. For instance, scientists at the University of Texas developed a film-based peelable inexpensive COVID-19 vaccine delivery device. On the other side, Bharath Biotech develops an innovative nasal vaccine to battle COVID-19.
Grand View Research has segmented the global COVID-19 vaccine packaging and delivery devices market on the basis of product and region:
- COVID-19 Vaccine Packaging & Delivery Device Product Outlook (Revenue, USD Million, 2020 – 2028)
- COVID-19 Vaccine Packaging & Delivery Device Regional Outlook (Revenue, USD Million, 2020 – 2028)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
List of Key Players of COVID-19 Vaccine Packaging And Delivery Devices Market
- B. Braun Melsungen AG
- Hindustan Syringes & Medical Devices Ltd.
- NIPRO Medical Corporation
- SCHOTT AG
- Gerresheimer AG
- Cardinal Health
Find more research reports on Medical Devices Industry, by Grand View Research:
- Vaccine Delivery Devices Market – The global vaccine delivery devices market size was valued at USD 3.33 billion in 2016 and is projected to grow at a CAGR of 7.3% during the forecast period.
- Pharmaceutical Glass Packaging Market – The global pharmaceutical glass packaging market size was valued at USD 3.79 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 8.8% from 2021 to 2028.
- Aseptic Packaging Market – The global aseptic packaging market size was USD 35.88 billion in 2015 and is expected to grow at a CAGR of 10.2% over the forecast period.
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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