Vaccine Storage and Packaging Market Breakdown, Development and New Market opportunities & Forecasts

Vaccine Storage and Packaging Market Snapshot:

The vaccine storage and packaging market was valued at USD 20,200 million in 2019 and is expected to grow with a CAGR of 10.2%.
Vaccine storage equipment are laboratory systems that are used to preserve the life of vaccines in the desired state and prevent degradation. Sustaining vaccines at an appropriate temperature is important. It is one of the critical challenges the healthcare facilities are currently facing, as slight temperature variations might contribute to adverse effects on patients being vaccinated. Storage facilities for vaccines provide storage at varying temperatures ranging from -86 °c to 65 ° c and are available in various capacities depending on end-user requirements. The global market for vaccine storage facilities is extremely fragmented, with many domestic players holding a key market share in each region. Efficient accessibility and technical knowledge of these products, high volume sector for vaccine storage facilities, and easy entry into the vaccine storage market for new players drive the market growth.

Growing expenditure by healthcare organizations and biopharma firms in vaccine research and development and growing government expenditure in immunization programs boost the market growth. The U.S. government, for example, sponsors numerous federal organizations and initiatives that are engaged in activities related to vaccination.  The government spends hundreds of millions of dollars per year on vaccine research and production to procure and administer vaccines to the states, ensure the protection of approved vaccines, and perform educational and other promotional initiatives to assist the use of vaccines.

Scientists at Scripps Research Florida have been active in creating a non-traditional vaccine to fight the viral strain SIVmac239, dubbed the 'death star.' The non - conventional vaccine developed by the researchers provides uninfected individuals with permanent immunity from various types of HIV. In addition, the prevalence of different infectious diseases and rising awareness of early detection and prevention of diseases have increased the demand for preventive vaccines.

Umpteen bio-pharmaceutical companies and healthcare agencies globally are heavily investing in vaccine production. In 2018, Innovate U.K. announced an investment of around USD 84.75 million to build and develop a U.K. Manufacturing Innovation Center for Nationwide Vaccinations. Moreover, the availability of refurbished goods and tight regulations hamper the market growth.

The insulated shipping cartons segment dominates the market, owing to higher compatibility with the sensitive material. The use of isothermal cartons for vaccines is projected to grow rapidly during the forecast period due to increased demand for affordable cold chain solutions for the vaccine's last-mile scope. Despite strong support from local government and numerous organizations, a number of children die each year due to unsuitable vaccination. Isothermal boxes for vaccines, specifically vaccine carriers, can be carried by a single health worker on foot or by bicycle to an outreach session because of their small size. In addition, isothermal vaccine boxes are used for transporting vaccines from primary health care centers to intermediate vaccine stores.

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The Major Prominent Players Covered in this Report:
Thermo Fischer Scientific
Lineage Logistics
Cardinal Logistics
McKesson
AmerisourceBergen
DHL
DB Schenker
PANASONIC HEALTHCARE CO., LTD
NIPRO
American Biotech Supply
Arctiko A/S

By Type, Organoids, Neural Organoids, Hepatic Organoids, Intestinal Organoids,
By Spheroids, Multicellular Tumor Spheroids (MCTS), Neurospheres, Mammospheres, Hepatospheres, Embryoid bodies,
By Application, Developmental Biology, Personalized Medicine, Regenerative Medicine, Disease Pathology Studies, Drug Toxicity and Efficacy Testing,
By End-user, Biotechnology and Pharmaceutical Industries, Academic and Research Institutes, Hospitals and Diagnostic Centers

Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Vaccine Storage and Packaging in the APAC Region
Asia-Pacific region is anticipated to hold the largest market share in the global Vaccine Storage and Packaging market during the forecast period 2021-2029. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of Vaccine Storage and Packaging and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Vaccine Storage and Packaging. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.

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Key Questions Answered in The Report:
What will the Vaccine Storage and Packaging market growth rate?
What are the key factors driving the global Vaccine Storage and Packaging market?
Who are the key manufacturers in the Vaccine Storage and Packaging market space?
What are the market opportunities, market risk, and market overview of the Vaccine Storage and Packaging market?
What are sales, revenue, and price analysis of top manufacturers of the Vaccine Storage and Packaging market?
Who are the distributors, traders, and dealers of the Vaccine Storage and Packaging market?
What are the market opportunities and threats faced by the vendors in the global Steerable Medical Devices Industry?
What are sales, revenue, and price analysis by types and applications of the Vaccine Storage and Packaging Industry?
What are sales, revenue, and price analysis by regions of Vaccine Storage and Packaging industry?
What are the driving factors contributing to market growth during the short, medium, and long term?

Key Vaccine Storage and Packaging Market Trends:
- The report identifies, determines, and forecasts the Global Vaccine Storage and Packaging Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Vaccine Storage and Packaging Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is Expected to Drive the Growth
- Rising Adoption of Market Segments in this Growth
- North American, Europe is Expected to Witness Higher Growth Rate over the Forecast Period
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Vaccine Storage and Packaging Market.

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