Global Vaccine Storage Equipment Market Poised for Healthy Growth of 8-10% by 2026

 

Growing prevalence of infectious diseases and immunological disorders, large-scale implementation of vaccination programs by global health agencies, technological advancements in vaccine storage equipment, rising R&D expenditure in biotechnological industries for vaccine research & storage, and increasing government focus on immunization programs are the key factors driving the global vaccine storage equipment market growth.

Vaccines are delicate biological agents that lose efficacy and efficiency when exposed to temperatures outside of the recommended range. Vaccine storage equipment (such as refrigerators and freezers) plays a critical role in preventing vaccine-preventable illnesses in persons and communities. An efficient vaccine "Cold Chain" is the first step in proper vaccine storage and handling. Vaccine potency may be lost if the cold chain is not adequately maintained.

Global Vaccination Program Implementation is Boosting the Vaccine Storage Equipment Market

Vaccination programs are among the most cost-effective methods of disease prevention. Currently, international organizations (such as WHO and UNICEF) and local governments across the world conduct a vast number of immunization programs. Among the main worldwide initiatives are UNICEF's Immunization Program and Vaccines for Children (VFC).

Ultra-Low Temperature (ULT) Cold Storage for mRNA based Vaccines Drives the Vaccine Storage Equipment Market

When Pfizer-BioNTech and Moderna announced the development of their COVID-19 vaccines, which need ultra-cold storage at -70 °C to avoid degradation of mRNA-based covid vaccines, a growing interest in ultra-cold storage began to increase. For example,

  • In April 2022, To strengthen Armenia’s National cold chain capacity and boost COVID-19 immunization programs, UNICEF, with USAID funding, procured 80 refrigerators and 285 freezers.
  • In December 2021, The UN Children’s Fund (UNICEF) with support from USAID delivered 14 ultra-low temperature freezers for storage of Pfizer vaccines in Ukraine.

Covid-19 Impact and Government Initiatives Drive Demand for Vaccine Storage Equipment

The COVID-19 epidemic has produced an urgent need for immunizations all around the world. Because COVID-19 vaccines differ from those of other vaccines, the types of vaccine storage units and temperature monitoring systems used to maintain the cold chain, including the usage of ultra-cold storage, were also influenced.

Government measures have sparked a competition among top pharmaceutical companies and research institutions to create a Covid-19 vaccine as soon as possible, which is projected to raise demand for vaccine storage equipment in the future. For instance,

  • In October 2021, UNICEF procured the equipment with funding from the Government of Japan through its global vaccine initiative ‘Last One Mile Support.
  • In September 2021, the Kenyan Ministry of Health received 12 items of ULT freezers and accessories for storage of COVID-19 vaccines.

Explore Comprehensive Market Insights on Vaccine Storage Equipment Market @https://www.globenewswire.com/en/news-release/2022/05/17/2445179/0/en/Global-Vaccine-Storage-Equipment-Market-is-expected-to-grow-at-a-healthy-rate-of-8-10-by-2026.html

Lack of infrastructure in emerging economies is a major impediment to the expansion of the vaccine storage equipment market.

The most fundamental difficulty in underdeveloped nations is a lack of storage infrastructure, which often affects operational efficiency, planning, talent availability, transportation and warehousing infrastructure, as well as data systems and governance frameworks.

Analysis of the Competitive Landscape in the Vaccine Storage Equipment Market

AmerisourceBergen Corporation, Arctiko, B Medical Systems, Sartorius, and Vestfrost Solutions are some of the key/promising competitors in the worldwide vaccine storage equipment market. Companies Adopting Inorganic Growth Strategies to Increase their Vaccine Storage Equipment Market Share

Players operating in the market adopt both organic and inorganic growth strategies such as collaborations and acquisitions, to garner market share.  For instance,

  • In April 2022, Dulas announced the agreement with IoT Company Beyond, to provide integrated remote temperature monitoring on its Solar Direct Drive vaccine refrigerators.
  • In June 2021, AmerisourceBergen Corporation announced the acquisition of Alliance Healthcare.

The vaccine storage equipment market is a developing industry that is likely to acquire speed in the next years due to increased technological development, a favorable regulatory framework, and increased government funding internationally.

Detailed Insights on Vaccine Storage Equipment Market @ https://meditechinsights.com/global-vaccine-storage-equipment-market/

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