According to the new market research report "COVID-19 Vaccine Packaging And Delivery Devices Market (By Product: Vials, Syringes) - COVID-19 Impact on Healthcare Industry, Global Forecasts to 2030", published by Vision Research Reports, The COVID-19 vaccine packaging and delivery devices market is expected to grow at a CAGR of around 5.10% during the forecast period 2021 to 2030.
The COVID-19 vaccine packaging and delivery devices market size is expected to reach US$ 4.6 billion by 2030 from US$ 970 million in 2020. The report contains 250+ pages with detailed analysis. The report provides the overall revenue of the global COVID-19 vaccine packaging and delivery devices market from 2017 to 2030, considering 2021 as the base year and 2030 as the forecast year. The study includes drivers and restraints of this global market.
This research report evaluates the COVID-19 vaccine packaging and delivery devices market on a global and regional level. It offers a thorough analysis of the market revenue status, growth, future trends, and forecast of the global COVID-19 vaccine packaging and delivery devices market for the period from 2017 to 2030.
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Key Players & Strategies:
The global COVID-19 Vaccine Packaging And Delivery Devices industry is a niche and highly competitive in nature because of the presence of a large number of regional as well as international players.
Some of the prominent players in the COVID-19 Vaccine Packaging and Delivery Devices market include:
B. Braun Melsungen AG
Hindustan Syringes & Medical Devices Ltd.
NIPRO Medical Corporation
The syringes segment dominated the market for COVID-19 vaccine packaging and delivery devices and held the largest revenue share of 61.10% in 2021. The segment is further divided into empty and prefilled syringes. . The average volume of a single COVID-19 dose is estimated to be 0.5 ml, thereby 1.0 ml sterile empty syringes are preferred. The prefilled syringes segment is anticipated to witness the fastest growth during the forecast period. To vaccinate the 7.0 billion world population in a shorter time is a tedious process with the established logistic network. The presence of distribution constraints associated with current COVID-19 packaging systems is expected to increase the preference for prefilled syringes.
Vials can be classified as plastic and glass vials. As vaccine components interact with the polymers of the plastic vial it is not frequently used for the storage of biological liquids. Whereas Type 1 borosilicate glass vials are used for COVID-19 vaccine storage.
North America dominated the COVID-19 vaccine packaging and delivery devices market and held the largest revenue share of 39.7% in 2021. According to the CDC data, till 5 March 2021, 15.9 % of the total U.S. population has received a single dose of the COVID-19 vaccine, while 8.1% of the population has been fully vaccinated.
In Europe, the market for COVID-19 vaccine packaging and delivery devices held the second-largest revenue share in 2021. The region has robust vaccine production and packaging facilities. The growing concern in EU member states to keep the vaccination rate par with countries such as U.K and U.S. is one of the key factors expected to boost the growth of the market for COVID-19 vaccine packaging and delivery devices. the market for COVID-19 vaccine packaging and delivery devices is expected to experience the fastest growth rate over the forecast period. China, India, and Korea are among the notable markets for COVID-19 vaccine packaging and delivery device manufacturers.
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.
The hurtling vaccine inoculation rate and growing public trust in 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.
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Why should you invest in this report?
If you are aiming to enter the global COVID-19 vaccine packaging and delivery devices market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for COVID-19 vaccine packaging and delivery devices are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.