Global COVID-19 Vaccine Packaging & Delivery Devices Market Size US$ 3.58 Billion By 2028 | CAGR: 20.1%: PMR

NEW YORK, May 24, 2021 /PRNewswire/ -- The global COVID-19 vaccine packaging and delivery devices market size is expected to reach USD 3.58 billion by 2028 according to a new study conducted by Polaris Market Research. the market is anticipated to register a CAGR: 20.1% From 2021 – 2028. Increasing demand for effective vaccines to contain COVID-19, a huge expansion in the production capacity for packaging and delivery devices, and several vaccines in the final phases of clinical approvals are some of the major factors augmenting the market growth. In addition to this, the inclusion of COVID-19 related products under the list of essential items to fight against COVID-19 may support in reducing the long clearance delays for such items, resulting in the rapid growth of the market. Furthermore, a huge investment in R&D initiatives for the development of high-quality packaging material is projected to foster market development.

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Key Highlights of COVID-19 Vaccine Packaging and Delivery Devices Market

• The syringes segment accounted for the largest revenue share and is expected to add significant share value during the forecast period. The adequate capacity of sterile empty syringes makes them preferable for the storage of a single COVID-19 dose and hence preferred by the industry players.
• The prefilled syringes are predicted to garner substantial growth and emerge as the major dominating segment during the forecast period. The prevailing constraints related to the present packaging system of COVID-19 related products raise demand for prefilled syringes, which is further complemented by a rise in investments by industry players.
• The ongoing Covid-19 pandemic has made a positive impact on the COVID-19 vaccine packaging and delivery devices market. A rise in innovation in the manufacturing of COVID-19 related goods and increasing COVID-19 cases contributing to the increased product demand across different parts of the globe.
• EVEON, a leading designer and manufacturer of medical devices for the delivery of drugs, is looking to completely automate and reliably deliver the multi-dose drugs from a vial and also vaccines that to be used in the Covid-19 pandemic.
• WHO and UNICEF have shed light on the essence of prompt distribution of COVID-19 vaccines regardless of the geographical locations. These regulatory bodies are encouraging national regulatory authorities to take a proactive approach to speed up the production of vaccine packaging and delivery device products to save precious lives across the globe.

There is a huge market demand for the product across the globe. U.S., China, and India are expected to be the biggest market for COVID-19 vaccine due to its large population and huge investment in vaccine production. Till now, over 1 billion doses of vaccines are administered worldwide with 225.6 million doses in United States; 216.1 million doses in China; and 140 million in India.

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Regional Developments

North America held a dominant share in the COVID-19 vaccine packaging and delivery devices market and is anticipated to be the largest revenue-generating regional market during the forecast period. An increasing rate of vaccination against the COVID-19, the presence of leading companies working in the target industry and increasing investment by public-private entities for the rapid development of packaging and delivery devices contribute to the regional market growth. The regional COVID-19 vaccine packaging and delivery devices market of Asia Pacific is estimated to witness a higher growth rate in the coming years, owing to a huge requirement for vaccine doses, increasing import of raw material from developed countries to meet the product demand, and the emergence of India as the largest manufacturers of medical-related products.

Competitive Outlook

Leading logistics companies across the globe are collaborating with key law enforcement agencies and government bodies to ensure the proper delivery of vaccines to intended locations. There are several key developments observed in the industry concerning new packaging solutions and the development of delivery devices. Several market participants are signing key agreements with governments and vaccine developers from different parts of the world.

Key players present in the global market for COVID-19 vaccine packaging and delivery devices are B. Braun Melsungen AG, Terumo, Becton, Dickinson and Company, Hindustan Syringes & Medical Devices Ltd., SCHOTT AG, Cardinal Health, NIPRO Medical Corporation and Gerresheimer AG

Target Audience

• Supply Side: Healthcare Packaging Solution Providers, Medical Devices Manufacturer
• Demand Side: Hospitals, Clinics, Diagnostic Laboratories
• Regulatory Side: World Health Organization

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Polaris Market Research has segmented the COVID-19 vaccine packaging and delivery devices market report on the basis of product, and region:

COVID-19 Vaccine Packaging and Delivery Devices, Product Outlook (Revenue – USD Million, 2020 – 2028)

• Vials
• Syringes

COVID-19 Vaccine Packaging and Delivery Devices, Packaging Outlook (Revenue – USD Million, 2020 – 2028)

• Insulated Shippers
• Insulated Containers
• Refrigerants

COVID-19 Vaccine Packaging and Delivery Devices, Regional Outlook (Revenue – USD Million, 2020 – 2028)

• North America
• U.S.
• Canada
• Europe
• Germany
• UK
• Italy
• France
• Spain
• Russia
• Netherlands
• Austria
• Asia Pacific
• China
• Japan
• India
• Indonesia
• Japan
• South Korea
• Malaysia
• Latin America
• Brazil
• Mexico
• Argentina
• Middle East and Africa
• Israel
• South Africa
• Saudi Arabia
• UAE

List of Key Players of COVID-19 Vaccine Packaging and Delivery Devices Industry

• Altona Diagnostics GmbH
• Perkin Elmer, Inc.
• bioMérieux SA
• Luminex Corporation
• ADT Biotech
• Mylab Discovery Solutions Pvt Ltd
• Laboratory Corporation of America Holdings
• Quest Diagnostics
• Neuberg Diagnostics
• Thermo Fisher Scientific, Inc.

*Note: Additional companies can be included on request

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About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers.

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SOURCE Polaris Market Research