Vaccine Vial Market is Expected to Grow at a CAGR of XX.X% from 2021 to 2030
The Global Vaccine Vial Market is expected to value USD XX.XX million in 2021 and is estimated to grow at a CAGR of XX.X% during the forecast period. Vaccine vial is a small bottle made from glass or plastic used for storing vaccines, capsules or liquids, and medication powders. The drugs or medicines are kept at a certain temperature to preserve them. Factors such as the emergence of COVID-19 pandemic, growing initiatives to promote immunization, and increasing COVID-19 cases are augmenting the production of vaccine vials, driving the global vaccine vial market.
Growing incidence of COVID-19 cases is providing growth opportunities for new markets for vaccine vials globally. The government and different drug companies worldwide are investing hundreds of millions of dollars to increase vaccine vial productions. This is expected to augment the market growth during the forecast period.
However, due to increasing number of COVID-19 cases worldwide, the market is facing shortage in the vaccine vial supply. Also, underdeveloped healthcare infrastructure in many developing countries is causing serious challenges, due to unavailability of advanced treatments and lack of awareness. All these factors are expected to hinder market growth during the forecast period.
COVID-19 Impact on Global Vaccine Vial Market
The COVID-19 pandemic had a negative effect on every leading and small-scale company around the world. But the market for vaccine vials faced a high demand due to increase in spread of coronavirus and the need for vaccines. To provide vaccines, the pharmaceutical companies are increasing their production by 5 to 10% to meet the demands from different healthcare sectors. Governments are investing a great amount of money to increase the production process, which is adding more revenues to the global vaccine vial market. Thus, COVID-19 pandemic has accelerated the global vaccine vial market.
Global Vaccine Vial Market, by Product Type
Based on product type, the global vaccine vial market is segmented into molded glass vial and tubular glass vial. Among these, tubular glass vial segments hold the largest market share in 2021 and is estimated to be the largest market for vaccine vials during the forecast period as the preparation cost are comparatively less, provides clarity, light weighted. Tubular glass vials are used to control tolerance and appearance of drugs, medicines, and, temperature are the major factors driving the vaccine vial market.
Global Vaccine Vial Market, by Material
Based on material, the global vaccine vial market is segmented into glass and polymer. Glass vials segment dominates the market in 2021 and is expected to be the largest market during the forecast period as glass vials are generally used to contain liquid pharmaceutical products, provides best container closure integrity (CCI) and protects the inside drugs and medicines from contact with moisture, oxygen, and chemicals. Drugs and medicines retain its shape at temperatures as high as 500 °C and as low as 0 °C inside the glass materials. These properties are driving the vaccine vial market.
Global Vaccine Vial Market, by Application
Based on application, the global vaccine vial market is segmented into preventive vaccine and therapeutic vaccine. The therapeutic vaccine segment is dominating the market in 2021 and is expected to remain dominant during the forecast period. Therapeutic vaccines are innovative vaccines, mostly used for treating viral infections and also in the treatments of different cancers. It helps the immune system to recognize a foreign agent such as virus or cancerous cells. This is expected to contribute to segment growth.
Global Vaccine Vial Market, by Distribution Channel
Based on distribution channel, the global vaccine vial market is segmented into direct sales, medical stores/pharmacies, e-commerce, and others. The e-commerce segment is dominating the market in 2021 and is expected to remain dominant during the forecast period. Due to the technological advancements, customers are now placing order for vaccine vials or medical products mostly through online platforms for an easy access like easy return policy, transparency, easy payment options, and quick delivery, which are driving the market in vaccine vial through e-commerce distribution channels.
Global Vaccine Vial Market, by Capacity
Based on capacity, the global vaccine vial market is segmented into 10 ml, 20 ml, 2 ml, 3 ml, and 5 ml. Among these, the 10 ml segment is dominating the market in 2021 and is expected to be the largest vaccine vial market during the forecasted period. Vials are packaged in cellular trays having alphanumeric coordinates for fast and easy identification. Mostly 10 ml containers are used for single doses and for treating various diseases like infections, diarrhea and other disorders.
Global Vaccine Vial Market, by End User
Based on end user, the global vaccine vial market is segmented into pharmaceutical companies, biopharmaceutical companies, contract development and manufacturing companies, compound pharmacy, and others.
Biopharmaceutical companies have captured the largest market share in vaccine vials in 2021 and is expected to remain the largest the during forecast period. Biopharmaceutical companies are researching on candidates and undertaking inventories for research & development, which require vaccine vials for sample storage. Due to increasing COVID-19 cases, major vaccine manufacturing companies such as Serum Institute of India, Johnson & Johnson (US), and AstraZeneca (UK) are developing COVID-19 vaccines from last 6 to 7 months that require vials to meet the increasing demands. All these factors are driving segment growth.
Global Vaccine Vial Market, by Region
Based on region, the global vaccine vial market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and South America. Asia Pacific is the dominating among these segments because of high prevalence of infectious diseases like tuberculosis or influenza A and B, which is increasing the demand for vaccine and thus, vaccine vials. This is expected to drive the regional market growth during the forecast period.
Recent Key Developments in the Global Vaccine Vial Market
- August 2021 - Bharat Biotech’s new variant of rotavirus vaccine Rotavac 5D has received pre-qualification from World Health Organization (WHO). The new variant is made with unique formula that can be administered without a buffer.
- July 2021 – Kerala is set to sign an agreement with Russian Direct Investment Fund (RDIF) for Russian-made Sputnik Vaccine. A manufacturing plant for filling COVID-19 vaccine vials.
- July 2021 - ZandCell has signed contract with various government in South America, Africa, and Asia. The company will manufacture and sale 160 million the Russian vaccines to distribute worldwide for less developed countries.
Some Key Findings of the Global Vaccine Vial Market Report Include:
- The analysis includes a global vaccine vial market study, expansions, and forecasts, along with a country-specific analysis
- An in-depth analysis of the global vaccine vial market comprises segment by product type, material, application, distribution channel, capacity, end user, and region with an analysis of trend-based insights and factors
- Product offering details on competitive benchmarking and evolution approach adopted by the industry players, along with their investments in the last five years in the global market have been provided in the report
- The market research includes a study of the provinces, boundaries, drivers, prospects, guidelines, challenges, and procedures that are propelling the global vaccine vial market
- The study also offers complex measures of potential market effect during the forecast period and an in-depth overview of the leading companies operating in the global market
- External as well as internal variables that are expected to have a positive or negative effect on companies have been evaluated, which will offer the decision-makers a strong futuristic view of the industry
- The research also helps understand the dynamics of the vaccine vial market structure by analyzing market segments and by projecting the size of the market
- The report helps to understand the effects of COVID-19 pandemic on vaccine vial market
- Some major industry players functional in the global vaccine vial market are: Schott AG, Nippon Electric Glass, Corning Inc, DWK Life Sciences, Nipro Corporation, Pacific Vial Manufacturing, Inc., Zheng Li, Zhenchuang Pharmaceutical Company, Shandong Pharmaceutical Packaging Company, Cang Zhou Four Star Glass Tube Co., Ltd, SGD Pharma, Jotop Glass, and Stevanato Group.
By Product Type:
- Molded Glass Vial
- Tubular Glass Vial
- Preventive Vaccine
- Therapeutic Vaccine
By Distribution Channel:
- Direct Sales
- Medical Stores/Pharmacies
- 10 ml
- 20 ml
- 2 ml
- 3 ml
- 5 ml
By End User:
- Pharmaceutical Companies
- Biopharmaceutical Companies
- Contract Development and Manufacturing Companies
- Compound Pharmacy
- North America
- Asia Pacific
- Middle East and Africa
- South America