PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1498817
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1498817
Vaccine Vial Monitor Market size was valued at USD 229.3 Million in 2023, expanding at a CAGR of 23.60% from 2024 to 2032.
The Vaccine Vial monitor (VVM) Market includes devices that measure vaccine temperature exposure during storage and transportation. Maintaining the proper temperature is critical to ensure vaccine efficacy and safety. Vaccine Vial Monitors are particularly useful in areas with problematic infrastructure and unstable power sources because they provide a visual signal of vaccine viability.
Vaccine Vial Monitor Market- Market Dynamics
Infectious Diseases Drive Market Growth
The rise in infectious diseases is a main factor fueling the market's expansion worldwide. This, along with the increasing emphasis on vaccination initiatives, is serving as a significant catalyst for growth. This leads to a steady need for vaccine vials to help with storing and distributing vaccines. Technological advances in vial materials and design are also influencing the market, with a focus on improving the longevity and reliability of vaccines. Regulatory guidelines are also important in influencing manufacturers to create high-quality vials by implementing stricter quality control measures and sterility requirements. The increase in healthcare efforts, like vaccination drives led by groups such as the WHO, GAVI, the Vaccine Alliance, and national health agencies of different countries, is driving the demand for vaccine containers. Demographic elements, such as population increase and a growing aging population prone to illnesses, are creating an additional level of need.
Vaccine Vial Monitor Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 23.60% over the forecast period (2024-2032)
Based on Type segmentation, in 2023, the most popular category will be multi-dose vials.
Based on Application segmentation, the therapeutic vaccine segment is predicted to increase substantially during the forecast period.
On the basis of region, North America was the leading revenue generator in 2023
The Global Vaccine Vial Monitor Market is segmented on the basis of Type, Application, and Region.
The market is divided into two categories based on Type: Multi-Dose and Single Dose. Multi-dose vials are the leading category in 2023. Multi-dose vials are widely acknowledged as being more cost-effective than single-dose vials, owing to their lower packing material and storage space requirements. This cost-effectiveness makes them extremely intriguing, especially in the context of large-scale immunization programs. When massive vaccination efforts are required, such as reacting to a pandemic or carrying out normal immunization campaigns, multi-dose vials provide a quick and efficient way to vaccinate a large number of people. This is especially important in resource-constrained contexts where timely administration is required.
The market is divided into two categories based on Applications: Preventive Vaccine and Therapeutic Vaccine. The therapeutic vaccine segment is expected to expand rapidly during the forecast period. Therapeutic vaccines are given after an individual has caught a disease. These vaccinations are designed to modify the immune response, allowing the body to attack the disease more effectively. Therapeutic vaccinations are created for illnesses such as cancer, in which the immune system's response is aimed at destroying malignant cells.
Vaccine Vial Monitor Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to establish dominance in the Global Vaccine Vial Monitor Market for a number of compelling reasons. The region has a well-developed healthcare infrastructure, which includes cutting-edge vaccine manufacturing facilities and a strong distribution network. This infrastructure positions North America at the forefront of vaccine production and delivery, boosting demand for Vaccine Vial Monitors (VVMs), which are an important instrument in assuring vaccine potency and integrity. Furthermore, tight regulatory criteria in North America emphasize the significance of keeping temperature-sensitive vaccines within the authorized temperature range, accelerating the implementation of VMs.
Over the projected period, the Asia-Pacific market would have the greatest CAGR in the vaccine vial monitor market. This means that the market for vaccination vial monitors in Asia Pacific is growing quicker than in other regions. This has been projected based on variables such as increased vaccination programs, improved healthcare infrastructure, and a growing emphasis on immunization in Asia Pacific countries.
Key competitors in the vaccine vials market such as Cardinal Health Inc, Catalent Inc, Corning Incorporated, DWK Life Sciences GmbH, and Elitech Technology, Inc., among others, are continuously pursuing various strategies to increase their market position. One of the primary focuses is on research and development (R&D) to produce enhanced vial materials and designs that improve vaccine preservation and use. Companies are increasingly using materials such as borosilicate glass and high-grade polymers, which are less likely to interact with the vaccine and maintain efficacy and stability over time. Many businesses are forming alliances or making acquisitions to expand their production capabilities and global reach. Quality assurance is a significant area of investment, with companies stepping up their efforts to meet high regulatory criteria for sterility and durability. Automation of quality checks is also being used to improve efficiency and uniformity.
In September 2022, BD (Becton, Dickinson, and Company), a leading worldwide medical technology company, introduced an enhanced glass pre-fillable syringe (PFS) that sets a new performance record for vaccination PFS. This innovation includes stringent new criteria for processability, aesthetics, contamination control, and product integrity.
GLOBAL VACCINE VIAL MONITOR MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Cardinal Health Inc
Catalent Inc
Corning Incorporated
DWK Life Sciences GmbH
Elitech Technology, Inc.
Elpro-Buchs AG
EVIGENCE SENSORS Inc
Gerresheimer AG
Schott AG
Thermo Fisher Scientific Inc
Others