VACCINE STORAGE AND PACKAGING MARKET ANALYSIS

Market Challenges And Opportunities

Global Vaccine Storage and Packaging Market: Restraints

High initial investment

Packaging of vaccines is essential to protect the product until it reaches the end user. However, due to the significant importance of the product, numerous government policies have been introduced for companies operating in the vaccine manufacturing supply chain. For instance, in September 2020, the Drugs Controller General of India (DCGI) issued a set of guidelines for pharmaceutical companies manufacturing COVID-19 vaccines in India, to maintain the safety and efficacy parameters of the manufacturers. Such factors have resulted in high initial investment requirements for companies trying to enter the vaccine storage & packaging market, which is expected to hamper the growth of the vaccine storage & packaging market globally.

Global Vaccine Storage and Packaging Market: Growth Drivers

Rising demand for packaging & storage of vaccine due to the COVID-19 pandemic

Due to rising infectious and infections, there has been a high demand for vaccines over the globe, the global vaccine packaging and storage market is expected to drive the market over the forecasted period. Growing development in vaccine R&D by medical institutions, healthcare, and pharmaceutical companies, as well as substantial involvement of the government in vaccination campaigns, have driven up the demand for vaccine packaging over the last years.

Due to rise in demand for immunization refrigerators is expected to drive the vaccine storage market. Companies engaged in the production of vaccine storage and packaging developing vaccine and immunization refrigerators owing to their ability to maintain the desired temperature for vaccines for up to 48 hours even without power. Moreover, the companies are also focusing on temperature-controlled refrigerators that are ideal for building an ecosystem for vaccine distribution, which is further propelling the growth of the global vaccine storage & packaging market.