Sunday, February 5, 2023
  • About Us
  • Contact Us
KsaWeekly.com
  • News
  • Business
  • Finance
  • Technology
  • Lifestyle
  • Middle East
  • Press Release
Submit a News Release
No Result
View All Result
KsaWeekly.com
Submit PR
Home Press Release

Vaccine Storage Equipment Market Worth $1.83 Billion by 2027

Press Room by Press Room
August 2, 2022
in Press Release
Share on FacebookShare on Twitter


(EMAILWIRE.COM, August 02, 2022 ) According to a new market research report titled “Vaccine Storage Equipment Market by Type (Freezer, Refrigerator, and Consumables and Accessories), End User (Hospitals and Medical Institutes, Distributors and Logistics, and Others) – Forecast to 2027” published by Meticulous Research®, the vaccine storage equipment market is expected to grow at a CAGR of 10.6% from 2020 to 2027 to reach $1.83 billion by 2027.

Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5160

Proper vaccine storage and handling are important factors in preventing and eradicating many common vaccine-preventable diseases. Each year, storage and handling errors result in the revaccination of many patients and significant financial loss due to wasted vaccines. Failure to store and handle vaccines properly can reduce vaccine potency, resulting in inadequate immune responses in patients and poor protection against disease.

Major factors contributing to the growth of this market include the growing prevalence of infectious diseases, large-scale implementation of vaccination programs by global health agencies, rising R&D expenditure for vaccine research & storage, technological advancements in vaccine storage equipment for transportation, and increasing focus on immunizing people. Vaccines are sensitive biological substances that can lose their potency and effectiveness if they are exposed to temperatures (heat and/or cold) outside the required temperature range of +2 ºC to +8 ºC or when exposed to light.

Impact of COVID-19 Impact on the Vaccine Storage Equipment Market

The outbreak of the COVID-19 pandemic created an urgent demand for vaccines worldwide. For instance, according to Our World in Data, as of November 2021, only 36-37% of the global population was fully vaccinated against COVID-19. A significant number of people are left to get vaccinated, which is expected to increase the demand for vaccine storage equipment in the future.

The initiatives by the government organizations to boost the production of Covid-19 vaccines are also expected to drive the growth of the overall vaccine storage equipment market. For instance, in September, 2021, the Kenyan Ministry of Health received 12 items of ultra-low temperature freezers and accessories for storage of COVID-19 vaccines that require very low temperatures. UNICEF procured the equipment with funding from the Government of Japan through its global vaccine initiative ‘Last One Mile Support.’ In February, 2021, the U.S.FDA announced that it is allowing undiluted frozen vials of the Pfizer-BioNTech COVID-19 Vaccine to be transported and stored at conventional temperatures commonly found in pharmaceutical freezers for a period of up to two weeks. This reflects an alternative to the preferred storage of the undiluted vials in an ultra-low temperature freezer between -80ºC to -60ºC (-112ºF to -76ºF). The change is reflected in updates to the Fact Sheet for Healthcare Providers Administering Vaccine (Vaccination Providers).

Speak to our Analysts to Understand the Impact of COVID-19 on Your Business: https://www.meticulousresearch.com/speak-to-analyst/cp_id=5160

Similarly, in April 2020, the COVAX initiative was launched, part of the WHO Access to COVID-19 Tools (ACT) Accelerator. The program was led by Coalition for Epidemic Preparedness Innovations (CEPI); Gavi, the Vaccine Alliance, and the WHO. The goal of this initiative was to work with vaccine manufacturers to offer low-cost COVID-19 vaccines to countries. Such activities are further expected to drive the demand for vaccine storage equipment.

Vaccine Storage Equipment Market: Future Outlook

The overall vaccine storage equipment market is segmented on the basis of type [freezer, refrigerator, and consumables and accessories], end user [hospitals and medical institutes, distributors and logistics, and others]and geography [North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa].

Based on type, the freezers segment commanded the largest share in the overall vaccine storage equipment market in 2020. Freezers can provide optimal storage temperatures ranging from -15°C to -86°C for major vaccine types. Developments like product launch for vaccines freezers is expected to improve the segment growth in the forecast.

Quick Buy – Vaccine Storage Equipment Market Research Report: https://www.meticulousresearch.com/Checkout/53755503

Based on end user, the hospitals & medical institutes segment commanded the largest share of the overall vaccine storage equipment market in 2020. This is mainly attributed to the emergence of COVID-19 vaccines and the growing focus of governments to provide vaccines. The high prevalence of infectious diseases and a significant number of people approaching hospitals & medical institutes for vaccines are further expected to contribute to the segment’s growth.

Based on geography, the Asia-Pacific region is expected to show the fastest growth rate in the forecast period. Factors attributing towards the growth of this region include the prevalence of infectious diseases in the region, growing investment for developing the healthcare sector, and the presence of the key players in the region.

The key players operating in the global vaccine storage equipment market are Thermo Fisher Scientific, Inc. (U.S.), B Medical Systems (Luxembourg), Eppendorf AG (Germany), Cole-Parmer Instrumentation Company, LLC (U.S.), Haier Group Corporation (China), Philipp Kirsch GmbH (Germany), PHC Corporation (Japan), Helmer Scientific, Inc. (U.S.), EVERmed S.R.L. (Italy), and Vestfrost Solutions (Denmark), among others.

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/vaccine-storage-equipment-market-5160

Scope of the Report

Vaccine Storage Equipment Market, by Type

Freezers
Ultra-low Temperature (ULT) Freezers
Upright Ultra Low-temperature Freezers
Ultra Low-temperature Chest Freezers
Low-temperature Freezers
Upright Low-temperature Freezers
Chest Low-temperature Freezers
Refrigerators
Electric Refrigerators
Solar Refrigerators
Others
Consumables & Accessories

Vaccine Storage Equipment Market, by End User

Hospitals and Medical Institutes
Distributor & Logistics
Others

Vaccine Storage Equipment Market, by Geography

North America
U.S.
Canada
Europe
Germany
U.K.
France
Italy
Spain
Rest of Europe (RoE)
Asia-Pacific (APAC)
China
Japan
India
Rest of APAC (RoAPAC)
Latin America
Middle East & Africa

Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5160



Source link

Previous Post

Saudi artist designs iconic round table shared by world leaders at GCC summit

Next Post

إنقاذ الطيور المهاجرة في لبنان من خلال تعاون بين الصندوق الدولي للرفق بالحيوان IFAW والجمعية اللبنانية للطيور المهاجرة LAMB

RECOMMENDED NEWS

Stringent Environmental Regulations Driving the Waterborne Coatings Market

Stringent Environmental Regulations Driving the Waterborne Coatings Market

3 weeks ago

GNSS Simulators Market Projected to Gain $165 million by 2025

5 months ago
Projected Value, Key Players and Growth Rate of Communication Test and Measurement Market 2022-2025

Projected Value, Key Players and Growth Rate of Communication Test and Measurement Market 2022-2025

7 months ago
Ceramic Sanitary Ware Market worth $44.6 billion by 2025

Ceramic Sanitary Ware Market worth $44.6 billion by 2025

2 months ago

BROWSE BY CATEGORIES

  • Business
  • Finance
  • Lifestyle
  • Middle East
  • News
  • Press Release
  • Technology

POPULAR NEWS

  • ZainTech partners with LigaData to deliver data-driven digital services in MENA

    ZainTech partners with LigaData to deliver data-driven digital services in MENA

    0 shares
    Share 0 Tweet 0
  • تم إطلاق VOYAH FREE في أوروبا وتم افتتاح معرض VOYAH.

    0 shares
    Share 0 Tweet 0
  • Saudi Arabia’s NuqtahNFT and ConsenSys partner to empower Web 3 startups

    0 shares
    Share 0 Tweet 0
  • Vidliz Expands Its Data-Driven Online Marketing Services in the Middle East

    0 shares
    Share 0 Tweet 0
  • قد يؤدي استهلاك الجوز إلى إبطاء تطوّر السرطان

    0 shares
    Share 0 Tweet 0

KSA Weekly™ publishes and aggregates business, socio-economic, Tech and industrial news on Saudi Arabia, Middle East and North Africa (MENA).

We provide press release distribution to media in the Kingdom of Saudi Arabia, the Arab world and the GCC/MENA regions. To send your press release, contact us today.

Recent News

Recent Posts
  • Data Center Power Market Projected to Gain $26.1 billion by 2025
  • Fatty Amines Market Global Analysis by Top Key Players Focusing on Growth Strategies and Upcoming Trends 2024
  • Automotive Adhesive Tapes Market Size is projected to reach USD 12.1 Billion By 2026
  • Industrial PC Market Worth $6.6 billion in 2028 at a CAGR of 5.5%
  • UHT Processing Market Statistics, Growth, Trends & Forecasts

Category

News

Business

Finance

Technology

Lifestyle

Middle East

Press Releases

Subscribe to Our Newsletter

    KSA Weekly ™ is part of GroupWeb Media Network. © 2023 GroupWeb Media LLC

    • About Us
    • Contact Us
    • Submit a Press Release
    No Result
    View All Result
    • News
    • Business
    • Finance
    • Technology
    • Lifestyle
    • Middle East
    • Press Release

    © 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.