Vaccine Storage Equipment Market Growth Is Driven By Regulations And Expected To Reach US$ 900 billion by 2030

The global Vaccine Storage Equipment market is poised to reach USD 900 billion and CAGR 5.1% by 2030. Compounding Pharmacies industry report provides crucial industry insights that will help your business exponentially growth.

The vaccine is an essential means of controlling an infectious disease. It is one of the important products of the pharmaceutical sector. Increased measures for immunization across the globe have spread the importance of vaccine. The storage of vaccines is as important as their production. For a vaccine to be effective post administration, it is necessary that the potency is maintained. In case a vaccine loses its potency, it can have irreversible damage to the population. Vaccine storage equipment addresses the requirement for maintaining potency of the vaccine. The Center for Disease Control (CDC) has chalked out a guideline for the storage and handling of vaccines. It is important for all the ecosystem participants to abide by the guidelines. The best way to ensure the safety of vaccines is to store them in a medical grade freezer or refrigerator. The medical grade refrigerators are more evolved than the general purpose refrigerators in terms of time and temperature sensitivity.

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The vaccines for children are handled with extra care for obvious reasons. The vaccine storage equipment plays a crucial role during transportation. The atmospheric temperature shifts drastically while transporting vaccines from the manufacturing unit to the distributor to the buyer and finally the end user. The vaccine storage equipment keeps the inner temperature under check. In order to maintain security, these vaccine storage equipment are equipped with a physical or digital lock. Manufacturers of the vaccine storage equipment are making an effort to introduce technically advanced products to the buyers. Storage capacity of the vaccine storage equipment varies based on the application. The recent outbreak of the COVID-19 pandemic has laid a challenging task for the vaccine developers along with the vaccine storage equipment manufacturers. There is an expected surge in demand for vaccine storage equipment in 2021 owing to the storage and transportation of the COVID-19 vaccine at the global level. The sudden escalation in demand will certainly subside post 2021; however, the vaccine storage equipment market will continue to grow at a steady rate throughout the forecast period.

R&D initiatives by the manufacturers of vaccine storage equipment provide a momentum to the growth

The manufacturers of vaccine storage equipment are dedicatedly investing resources in Research & Development activities for meeting the requirements of the buyers. The performance of equipment is expected to be at par considering the applications. All efforts of the vaccine storage equipment manufacturers are directed towards developing products with enhanced performances. For example, the manufacturers have developed a Solar Direct Drive (SDD) refrigerators for storage of vaccines. For increased reliability and environment friendly functionality, the SDD refrigerators are a good alternative for vaccine storage. Along with the innovations, spread of immunization across the globe is building the growth path for the vaccine storage equipment market.

The distinguished applications of refrigerators and freezers makes them equally popular across the buyers

The vaccine storage equipment is available in two broad categories, namely refrigerators and freezers. Both of the product categories have dedicated applications and are not a substitute to each other. The important task of protecting vaccines throughout their journey from manufacturing to administration is conducted well by both refrigerators and freezers. The choice of product is made by buyers based on the type and packaging of the vaccine. The manufacturers of vaccine storage equipment thoughtfully design the specifications of products in order to cater to the unique needs of buyers

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Distributors generate a huge demand for vaccine storage equipment

The principal buyers of vaccine storage equipment include medical distributors, retailers and logistics companies. A high demand comes from distributors since they are an important link between the manufacturers and end users. The logistics companies play the role of transporting vaccines to end users. Buying criteria depends on the vaccine type.

Europe has a principal contribution to the global revenue generated

The spread of immunization across European countries has pumped the supply of vaccine storage equipment across the region. There are several active vaccination programs and focused research work related to vaccines. Presence of multiple logistics service providers is one of the reasons for a high demand for vaccine storage equipment across Europe. Asia Pacific and Africa regions hold a high potential in terms of vaccine storage equipment. South Africa and South Asian countries are expected to contribute evidently to generating revenue for the vaccine storage equipment market.

Major players active in the global Vaccine Storage Equipment Market include American Biotech Supply, Arctiko, Eppendorf , EVERmed Srl , QINGDAO HAIER BIOMEDICAL CO., LTD. , Helmer Scientific Inc. , Philipp Kirsch GmbH , Labcold , Panasonic Healthcare, Thermo Fisher Scientific and Dulas Ltd.

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This release was published on openPR.