Press release
Vaccine Refrigerators Market Supply-Demand, Investment Feasibility and Forecast 2032
Vaccine Refrigerators Market
The examinations and investigations of vaccines is one of the major factors for the market growth and increasing public awareness regarding immunisation programme. Furthermore, the market is expanding rapidly due to growing R&D spending and technological developments in the healthcare sector. Moreover, the incidence and prevalence of infectious diseases have been on the rise. However, it is anticipated that the shortage of skilful healthcare professionals and the concern associated with the sizeable initial expenditure would hinder the vaccine refrigerator market's growth.
The rise in infectious diseases has increased demand for vaccines, which is what is driving the market for vaccine refrigerators. The need for vaccine coolers has increased as a result of expanding research and development initiatives in government and academic institutions for the creation of novel vaccines. The global market for vaccine refrigerators is being driven by an increase in government financing as well as significant R&D efforts by pharmaceutical companies for the development of novel vaccines. Moreover, gradually increasing global immunization coverage is boosting the vaccine refrigerators market. For instance, as per the WHO the projected global vaccination coverage of Diphtheria-tetanus-pertussis (DTP3) was around 86.0% in 2018.
The market is significantly constrained by the high price of vaccine refrigerators and the expanding trend of using used equipment. A sizable population base for immunisation is created by the high occurrence of infectious diseases including the mumps, flu, and other viral infections. The market for vaccine refrigerators has forecasts for expansion as a result. Moreover, it is projected that in the near future, goods with technical innovation would offer the market growth scenarios, such as solar vaccine refrigerators.
The global market for vaccine refrigerators is growing owing due to the outbreak of the COVID-19 outbreak. A huge demand for vaccine refrigerators has been created by the increase in patients around the world, the large number of vaccine trials and development, and the COVID-19 vaccination programmes. Hence, the COVID-19 pandemic increased the market size for vaccine refrigerators in 2021.
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Type Insights
The cold chain type segment accounts for the largest revenue share of the market in 2021 and is anticipated to dominate the market over the forecast period owing to the increased demand for this vaccine refrigerator from the healthcare industry due to maintenance of optimal temperature and hygiene during the storage which will further drive the market growth of vaccine refrigerator in this segment during the projected period.
End User Insights
The hospitals & clinics segment is expected to hold the largest revenue share of the market during the forecast period owing to the increasing number of patients suffering from various infectious diseases, and rising awareness about these diseases. Moreover, the availability of several diagnostics and treatment facilities, advanced healthcare infrastructure, higher purchasing power, and the presence of highly skilled healthcare professionals are driving the growth of the market in this segment.
Region Insights
North America accounts for a major share of the global market for vaccine refrigerators. The need for vaccinations in North America is being boosted by expanding academic and pharmaceutical sectors' research and development efforts, rising public awareness of immunisation campaigns, and high health care spending in the area. During the projected period, this would have a favourable effect on the market for vaccine refrigerators in North America.
Owing to an increase in infectious diseases in the region and government campaigns to increase public awareness of immunisation programmes to combat epidemic diseases, the Asia Pacific region is home to a fast expanding market for vaccine refrigerators. The market for vaccine refrigerators in the Asia Pacific region is growing as a result of technological improvements made by major key players to supply solar vaccine refrigerators in developing nations that are affordable.
Key Companies Insights
Key players are focusing on their technological collaborations, partnerships, and merger & acquisitions strategies to gain a competitive edge and expand their product portfolio & business mark. The enduring Covid-19 pandemic hampered the medical systems across the globe and drove market players to update products for unexploited prospects.
Some of the key players operating in the global vaccine refrigerators market include:
· Thermo Fisher Scientific, Inc.
· Haier Biomedical
· Aegis Scientific, Inc.
· Godrej Medical Refrigerators
· Eppendorf AG
· LABREPCO
· Panasonic Healthcare Co.
· Standex
· Leibherr Group
· B Medical Systems S.à r.l.
· Philipp Kirsch GmbH
· Helmer Scientific
· Other players
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Some of the Recent Developments:
· In August 2019, Helmer Scientific launched professional medical refrigerators which incorporated OptiCool cooling technology under its GX Solution Refrigerator line.
· In July 2018, Thermo Fisher Scientific launched a novel series of TSG compact refrigerators. These were introduced to meet the needs of clinical laboratories and patient care facilities for cold storage equipment.
Segments
By Type
Cold Chain Type
Common Indoor Type
By End User
Epidemic Prevention Stations
Hospitals & Clinics
Research Laboratories
Pharmacies
Others
By Geography
· North America
o U.S.
o Canada
o Mexico
· Europe
o U.K.
o Germany
o France
o Italy
o Spain
o Russia
· Asia-Pacific
o Japan
o China
o India
o Australia
o South Korea
o ASEAN
· Latin America
o Brazil
o Argentina
o Colombia
· MEA
o South Africa
o Saudi Arabia
o UAE
o Egypt
Read More: https://analyticsmarketresearch.com/reports/vaccine-refrigerators-market/569/
Key Points:
Define, describe and forecast Vaccine Refrigerators product market by type, application, end user and region.
Provide enterprise external environment analysis and PEST analysis.
Provide strategies for company to deal with the impact of COVID-19.
Provide market dynamic analysis, including market driving factors, market development constraints.
Provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy analysis.
Keep up with international market trends and provide analysis of the impact of the COVID-19 epidemic on major regions of the world.
Analyze the market opportunities of stakeholders and provide market leaders with details of the competitive landscape.
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Analytics Market Research is an established market analytics and research firm with a domain experience sprawling across different industries. We have been working on multi-county market studies right from our inception. Over the time, from our existence, we have gained laurels for our deep rooted market studies and insightful analysis of different markets.
Our strategic market analysis and capability to comprehend deep cultural, conceptual and social aspects of various tangled markets has helped us make a mark for ourselves in the industry. Analytics Market Research is a frontrunner in helping numerous companies; both regional and international to successfully achieve their business goals based on our in-depth market analysis. Moreover, we are also capable of devising market strategies that ensure guaranteed customer bases for our clients.
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