Global Vaccine Storage Equipment Market is poised to grow at a lucrative CAGR of 8-10% by 2026

Vaccines are sensitive biological substances that can lose their potency and effectiveness if exposed to temperatures outside their range. Vaccine storage equipment (such as refrigerators and freezers) plays a key role in protecting individuals and human communities from vaccine-preventable diseases. Proper storage and handling of vaccines begin with an effective vaccine “Cold Chain”. If the cold chain is not properly maintained, then vaccine potency may be lost.

Implementation of the Global Vaccination Programs across the World

Vaccination programs are among the most cost-effective ways to prevent disease. Currently, a large number of vaccination programs are run by international organizations (WHO, UNICEF) as well as local governments across the globe. Some of the leading global programs include Immunization Program by UNICEF, and Vaccines for Children (VFC), among others.

Covid-19 Impact and Government Initiatives Fuels the Market Demand

The outbreak of the COVID-19 pandemic has created an urgent demand for vaccines all over the world. COVID-19 vaccine products also impacted the types of vaccine storage units and temperature monitoring devices used to maintain the cold chain, including the use of ultra-cold storage as COVID-19 vaccines differ from those of other vaccines.

The initiatives undertaken by the government organizations have triggered a competition among the leading drug-makers and research institutes to develop a Covid-19 vaccine at the earliest which in turn is expected to increase the demand for vaccine storage equipment in the near 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.

Lack of Storage Infrastructure in Emerging Economies

The lack of storage infrastructure is the most basic challenge in developing countries, typically in the areas of operational efficiency, planning, talent availability, transportation, and warehousing infrastructure, as well as data systems and governance models.

Competitive Landscape Analysis: Vaccine Storage Equipment Market

Some of the top and emerging players operating in the vaccine storage equipment market are AmerisourceBergen Corporation, Arctiko, B Medical Systems, Sartorius, and Vestfrost Solutions, among others.

Companies Adopting Reliable Growth Strategies to Increase their Market Share

Leading players operating in the vaccine storage equipment market adopt both organic and inorganic growth strategies such as collaborations and acquisitions, to garner higher 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 global vaccine storage equipment market is a booming and fast growing market that is expected to gain further momentum in the upcoming years due to an increase in the development of technology, a favorable regulatory landscape, and increasing investments from the governments globally.

Get Customized Research Report on Vaccine Storage Equipment Market @ https://meditechinsights.com/global-vaccine-storage-equipment-market/

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