Global Vaccine Vials Market Worth USD 17,915 Million By 2031 | CAGR of 15.47%

Introduction

The development of vaccines has altered the global healthcare system. Vaccines enhance the immune system by exposing it to less potent infections. Commercially available vaccines are packed in vials or ampoules and delivered via injection. Vaccine manufacturers favor small vials for packaging when producing significant quantities of vaccines. Vaccines are provided in smaller doses than other medications, making smaller vails the superior packing option. Vaccine vials are additionally available in either plastic or glass. In addition, the design of the vaccination vials could vary based on their intended use, such as single or several doses.

Market Dynamics

Rising Infectious Diseases and Immunization Awareness in Large Emerging Markets Drive the Global Market

Government awareness initiatives have a significant role in encouraging vaccinations. Government initiatives to eradicate polio, measles, and rubella, among others, have been increasing in India, Africa, and other rising markets. In addition, the exposure of large populations to environmental contamination and the high population density in emerging markets are projected to exacerbate the spread of infectious diseases during the forecast period. As a result, the demand for several vaccines rises, increasing vaccine vial sales. Consequently, the increasing frequency of infectious illnesses and the rising awareness of the need for immunization are anticipated to drive growth in this market throughout the forecast period.

Technological Advancements Creates Tremendous Opportunities

Due to the fragility of borosilicate glass, traditionally the preferred packaging material for vaccinations, plastic is advancing in applications such as emergency medicine. The material is gaining traction in numerous other industries as a viable alternative to glass vials. In addition, plastic breaking resistance and inertness can give them a market advantage. SiO2 Materials Science utilizes plastic medicine vials with a covering like glass. The company deposits a nanoscale layer of organosilica to the interior of the plastic shells using plasma-enhanced chemical vapor deposition to create a chemically inert interior. This coating has the protective features of glass but none of the common issues associated with glass. Thus, technological progress will result in more significant development potential for market expansion.

Regional Analysis

North America is the most substantial shareholder in the global vaccine vials market and is estimated to grow at a CAGR of 15.53% during the forecast period. In North America, the market for vaccination vials is developing significantly due to increased patient care and rising healthcare expenses for both public and private healthcare actors. Increasing numbers of compounding laboratories and research institutes in the United States are driving demand for these vaccination containers. In addition, the increasing number of partnerships to develop revolutionary packaging technologies further stimulates the market. The increased incidence of infectious and non-infectious disorders and the number of clinical investigations have led to an upsurge in demand for these vials. In addition, the government is supporting the advancement of pharmaceutical, medical, and biotechnology research, which is anticipated to benefit the market.

Europe is estimated to grow at a CAGR of 15.09% over the forecast period. Due to its huge pharmaceutical manufacturing base and ability to implement technological improvements in pharmaceutical packaging, Europe is one of the most critical regions for the pharmaceutical sector. In addition, market sellers are attempting to assist as much as possible during the coronavirus outbreak. Vendors are contributing their products, including glass tubing for diagnostic test kits, vials for clinical drug studies for vaccinations, and glass packaging to assist with the anticipated medicine shortages. In addition, the expansion of the market for vaccination vials is impacted by a variety of factors, such as the desire for effective medical procedures and the increased concern for patients' health and safety. Further, Germany held the most significant proportion among European nations, and its dominance is expected to persist in the coming years. The presence of several significant market participants in Europe controls a substantial market share and promotes the expansion of the vaccination vials market.

Key Highlights

• The global vaccine vials market was valued at USD 4,909 million in 2022. It is estimated to reach USD 17,915 million by 2031, growing at a CAGR of 15.47% during the forecast period (2023–2031).
• Based on type, the global vaccine vials market is segmented into single-dose and multi-dose. The multi-dose segment is the highest contributor to the market and is projected to grow at a CAGR of 15.62% over the forecast period.
• Based on material, the global vaccine vials market is segmented into glass and polymer. The glass segment owns the highest market share and is estimated to grow at a CAGR of 15.77% during the forecast period.
• North America is the most substantial shareholder in the global vaccine vials market and is estimated to grow at a CAGR of 15.53% during the forecast period.

Competitive Players

1. Gerresheimer AG
2. Piramal Glass Private Limited
3. Schott AG
4. Richland Glass Company, Inc.
5. Cardinal Health
6. Stevanato Group SpA
7. JOTOP Glass
8. Nipro Corporation
9. DWK Life Sciences GmbH
10. Qorpak Inc.

Recent Developments

• July 2022- In Hyderabad's Genome Valley, Biological E. would invest 1,800 crores in expansion projects at three campuses. It is primarily to expand vaccination and generic injectable production, as well as research and development (R&D).
• January 2023- The pharmaceutical giant Bharat Biotech voluntarily recalled ChiroRaba Vaccine, a rabies vaccine with a specific batch number, due to the theft of several vials. While only a portion of the package was stolen, and its cold chain storage conditions are unclear, the corporation has launched the recall of the entire batch.

Segmentation

1. By Type
   1. Single Dose
   2. Multi Dose
2. By Material
   1. Glass
   2. Polymer