A recent report published by Infinium Global Research on
vaccine storage equipment market provides in-depth analysis of segments and
sub-segments in the global as well as regional vaccine storage equipment market.
The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional vaccine storage equipment market over the
short term as well as long term. The report is a comprehensive presentation of
trends, forecasts, and dollar values of the global vaccine storage equipment market.
According to the report, the global vaccine storage equipment market is
projected to grow at a CAGR of 5.68% over the forecast period of 2020-2026.
Immunization has helped protect millions of lives from
deadly diseases since its invention. Vaccine improves the immune system, which
is the natural defense system of the body. By vaccination, the body can protect
itself from various diseases with the help of a strong immune system. Vaccines
lose their effectiveness if exposed to room temperature for a long period,
which makes the storage of vaccines one of the major challenges for the
manufacturers and health workers. The demand for safe and suitable storage
solutions for vaccines gave birth to an entirely new industry. The players in
the vaccine storage market are offering different vaccine storage equipment.
The equipment used for vaccine storage is specifically designed to retain and
preserve the effectiveness of vaccines for a longer period of time. As opposed
to other lab equipment, vaccine storage equipment have a specific storage
capacity and temperature range. Moreover, the vaccine storage equipment is used
for various applications including hospitals & medical laboratories, pharmacy
stores, and related health care institutes.
Furthermore, the COVID-19 outbreak has resulted in an
increasing amount of studies for the development of a vaccine to cure and
prevent the spread of the disease. Many vaccine manufacturers across the world
have increased their research activities to find an effective vaccine against
the coronavirus. Moreover, the demand for vaccines is enormous and is expected
to exert tremendous pressure on the manufacturers as well as healthcare
professionals to supply the vaccine. Along with higher manufacturing capacities
the manufacturers and healthcare organizations need greater storage capacities
to satisfy the demand. Thus, the demand for storage equipment is expected to
rise as the vaccine is been developed. However, the flow of goods during the
pandemic has disrupted, which is expected to be the major challenge during the
short term.
The rise in the initiatives by government and private
organizations to promote immunization is majorly driving the growth of the
vaccine storage equipment market. Governments across various developing
countries have implemented a number of programs to eradicate certain
communicable diseases. Under such immunization programs, the healthcare
organizations procure vaccines in a large amount. This, in turn, increases the
demand to store a large number of vaccines, boosting the sale of vaccine
storage equipment. Moreover, the growing awareness among the people about
endemic diseases is expected to augment the market growth. The population is
being made aware of the benefits of immunization through its promotion and
education. Apart from this, the entry of emerging vaccine manufacturers,
particularly in the underutilized vaccines market, has resulted in lower
vaccine prices due to increased competition and higher production capacities
for individual vaccines. A few emerging market manufacturers are also trying to
expand their production to newer vaccines, which, in turn, is also expected to
boost the demand for storage equipments vital for vaccine storage. However, lack of infrastructure in some of
the developing economies is majorly hampering market growth. Nevertheless,
technological advancements in refrigeration and freezer solutions are expected
to offer business opportunities during the forecast period.
In terms of geography, North America generated the highest
revenue for the vaccine storage equipment market in 2019. The countries
including the U.S. and Canada are the key revenue contributors in the vaccine
storage equipment market in North America. The growing amount of R&D
activities for developing novel vaccines is mainly supporting the domination of
North America in the global market. Several government and private
organizations in North America are rigorously working to find new vaccines for
various infections. Moreover, the presence of several leading market players in
the region is expected to escalate the demand for vaccine storage equipment
over the forecast period.
The report on global vaccine storage equipment market covers
segments such as product, portability, and end-user. On the basis of product,
the sub-markets include refrigerators, freezers, and other products. On the
basis of portability, the sub-markets include portable equipment, and
non-portable equipment. On the basis of end-user, the sub-markets include
biopharmaceutical companies, hospitals, medical laboratories, and others.
The report provides profiles of the companies in the market
such as Thermo Fisher Scientific Inc., Eppendorf AG, Labnet International,
Inc., Cole-Parmer Instrument Company,
LLC, American Biotech Supply, Inc, Arctiko A/S, Evermed S.R.L., Helmer, Inc.,
Panasonic Healthcare Co., Ltd, and Philipp Kirsch Gmbh.
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of the vaccine storage
equipment market. Moreover, the study highlights current market trends and
provides forecast from 2020-2026. We also have highlighted future trends in the
market that will affect the demand during the forecast period. Moreover, the
competitive analysis given in each regional market brings an insight into the
market share of the leading players.
Please Choose One of them.