Vaccine Storage Equipment Market global sales are expected to experience modest CAGR of 10.2% between 2023 to 2032 | insightSLICE
The global Vaccine Storage Equipment market size was estimated to be US$ 1.1 billion in 2021 and is expected grow at a CAGR of 10.2% between 2023 to 2032.
Children’s vaccination is administered with special caution for obvious reasons. During transit, the equipment used for vaccine storage is essential. While the vaccine is being transported from the manufacturing facility to the distributor to the customer and then to the final user, the ambient temperature changes significantly.
The equipment used for vaccine storage regulates the interior temperature. These vaccine storage devices come with a physical or digital lock to guarantee security.
Manufacturers of vaccine storage equipment are working hard to present customers with technologically cutting-edge solutions. Depending on the application, the vaccine storage apparatus has a range of storage capacities.
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Global xxx Market Key Segments:
By Product type:
- Refrigerator
- Freezer
- Other equipment
By Buyer:
- Distributors
- Retailers
- Logistics Service Providers
By Geography
- North America
- United States
- Canada
- Rest of North America
- Europe
- Germany
- United Kingdom
- Belgium
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- India
- China
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Brazil
- Rest of South America
The key players of the Global xxx Market are:
Major companies involved in the Global Vaccine Storage Equipment Market are Helmer Scientific Inc., Philipp Kirsch GmbH, Labcold, American Biotech Supply, Arctiko, Eppendorf, Thermo Fisher Scientific, Dulas Ltd., Panasonic Healthcare, EVERmed SRL, Qingdao Haier Biomedical Co. Ltd.
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Reasons for increased adoption:
The recent COVID-19 pandemic outbreak has presented a difficult task for the makers of vaccine storage equipment as well as the vaccine developers.
Due to the global storage and transportation of the COVID-19 vaccine in 2021, there is anticipated to be an increase in demand for vaccine storage equipment. After 2021, the abrupt increase in demand will undoubtedly decline, but the market for vaccine storage equipment will expand steadily for the duration of the forecast period.
Requirement for medical grade vaccine storage equipment:
The use of vaccines is crucial for the management of infectious diseases. It is one of the industry’s key goods in the pharmaceutical field. The importance of vaccination has been made more widely known through increased immunization efforts worldwide.
The preservation of vaccines is just as crucial as their creation. A vaccine’s potency must be preserved for it to be effective after injection. If a vaccination loses its effectiveness, the population may suffer irreparable harm. Vaccination storage devices take care of the need to keep the vaccine effective.
The Centers for Disease Control (CDC) has established rules for the handling and storage of vaccines. All members of the ecosystem must follow the rules, which is crucial.
Vaccines should be kept in a medical-grade freezer or refrigerator to guarantee their safety. In terms of time and temperature sensitivity, medical-grade refrigerators are more advanced than general-purpose refrigerators.
R&D efforts by companies will result in the market’s fast growth:
To meet the demands of the customers, the producers of vaccine storage equipment are devotedly allocating resources to R&D projects. Given the application, it is assumed that the equipment would perform as expected. Manufacturers of vaccine storage equipment make every attempt to provide goods with improved performance.
For the storage of vaccines, for instance, the makers have created Solar Direct Drive (SDD) freezers. The SDD refrigerators are an excellent solution for vaccine storage due to their increased dependability and environmentally friendly operation.
Along with improvements, the expansion of vaccination programs around the world is paving the market’s growth route for vaccine storage equipment.
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The majority of the global revenue is earned in Europe:
The expansion of vaccination programs throughout European nations has increased the demand for vaccine storage equipment in the area. There are numerous ongoing vaccination campaigns and specific vaccine-related research projects.
One of the factors contributing to Europe’s high demand for vaccine storage equipment is the existence of numerous logistical service providers. Africa and the Asia-Pacific area have significant potential for developing vaccine storage technology.
It is anticipated that South Africa and South Asian nations will significantly boost the market’s revenue for vaccine storage equipment.
Because of their unique uses, refrigerators and freezers are equally popular with small consumers segments:
Refrigerators and freezers are the two main forms of vaccine storage equipment. Both product categories have specific uses and do not complement one another. Both refrigerators and freezers do a good job of safeguarding vaccinations during their crucial trip from manufacture to administration.
Buyers base their decision on the type and packaging of the vaccination. The parameters of vaccine storage equipment are carefully created by the manufacturers to meet the specific requirements of customers.
There is a large need for vaccine storage equipment from distributors:
Medical wholesalers, retailers, and logistics firms are some of the main purchasers of vaccine storage equipment. Since distributors serve as a crucial conduit between producers and consumers, they have a high demand. The logistics firms are responsible for delivering vaccines to final consumers. The type of vaccine determines the purchase requirements.
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