Dublin, Jan. 29, 2024 (GLOBE NEWSWIRE) -- The "Vaccine Storage Equipment Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028" report has been added to ResearchAndMarkets.com's offering.
The global vaccine storage equipment market has reached a significant milestone, valuing USD 987.33 million in 2022, and is expected to maintain strong growth momentum with a compound annual growth rate (CAGR) of 5.36% through 2028. Innovations in vaccine storage solutions are becoming increasingly vital in supporting the expanded demand for immunization, as underscored by the ongoing needs of global health systems and immunization programs.
Key drivers fueling the growth of the vaccine storage equipment market include the rising production of vaccines, particularly in response to the COVID-19 pandemic, and the subsequent increase in vaccine distribution and administration worldwide. As vaccines remain critical to global health, ensuring their viability from production to delivery has become more crucial than ever, necessitating the use of advanced vaccine storage equipment.
Product Insights and Trends
The refrigerator segment is leading the vaccine storage equipment market, providing robust solutions that are key to maintaining the cold chain for vaccines. These units, which offer sophisticated temperature monitoring, are essential for preserving vaccine integrity.
Refrigerated Storage Segment Dominates Market with Rapid Growth Expected
The refrigerated storage category has emerged as a stalwart in vaccine preservation, with its innovation and adaptability placing it at the forefront of market growth. The segment's ability to consistently meet stringent regulatory guidelines and maintain vaccine efficacy has reinforced its stature within the healthcare sector.
Regional Insights
North America continues to dominate the global market, not only by holding the largest market share but also through its continual technological advancements in the field. The region's adherence to strict regulatory standards exemplifies its commitment to quality and safety in vaccine storage.
Market Challenges and Advancements
Despite the growth, the vaccine storage equipment market faces several challenges, including the temperature sensitivity of vaccines, gaps in infrastructure, regulatory compliance, technological advancements, and the need for vaccine equity. Manufacturers and healthcare stakeholders are tirelessly working to address these issues through innovative solutions such as solar-powered units and remote monitoring systems, striving to overcome logistical and infrastructural obstacles.
- Key segments being observed include refrigerators, freezers, cold boxes, monitoring devices, and vaccine carriers, each playing a crucial role in maintaining optimal vaccine storage conditions.
- The end users for vaccine storage equipment span hospitals, medical institutes, retail pharmacies, and logistics companies, reflecting the wide range of stakeholders reliant on efficient and effective vaccine storage solutions.
The market's competitive landscape consists of detailed analyses of major market players, focusing on their strategic initiatives, technological developments, and role in meeting the growing demands of the healthcare industry.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 190 |
| Forecast Period | 2022-2028 |
| Estimated Market Value (USD) in 2022 | $987.33 Million |
| Forecasted Market Value (USD) by 2028 | $1.33 Billion |
| Compound Annual Growth Rate | 5.3% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes:
- American Biotech Supply
- Arctiko A/S
- Eppendorf AG
- Evermed S.R.L.
- Haier Biomedical
- Helmer Scientific
- Labcold
- Panasonic Healthcare Co. Ltd.
- Philips Kirsch Gmbh
- Thermo Fisher Scientific, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/l6qzk5
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