Market Research Report
Global Vaccine Storage Equipment Market - Study of COVID-19 Impact (Impact Categorized by Product, Type, End-User, and Region) - Size, Share, and Predictions from 2021-2027
|Global Vaccine Storage Equipment Market - Study of COVID-19 Impact (Impact Categorized by Product, Type, End-User, and Region) - Size, Share, and Predictions from 2021-2027|
Published: April 1, 2021
AnalystView Market Insights
Content info: 254 Pages
Delivery time: 2-3 business days
By 2019, the value of the global Vaccine Storage Equipment market was estimated at USD 980.3 million, with a growth of 7.3% CAGR during the estimated timeframe, 2021-2027.
Vaccine storage equipment is utilized to sustain and protect the life of vaccines in the desired condition and prevent degradation. Maintenance of vaccines at the necessary temperature is essential and one of the primary challenges faced by health care facilities, as minor changes in the temperature lead to unfavorable effects on patients to be immunized. Vaccine storage equipment offers storage at distinct temperatures ranging from -86°C to 65°C and is available in various capacities based on the requirements of end-users. Vaccine storage equipment has extensive applications in biotechnology companies, blood banks, hospitals & medical laboratories, pharmacy stores, and associated health care institutes.
Some significant factors such as favorable government initiatives for research and development activities and clinical trials; growing research on vaccines, growing prevalence of infectious disease; growing government focus on immunization programs; rising technological advancement in the storage equipment; an increasing number of pharma-retailer; and growing R&D expenditure in biotechnological industries for vaccine research is driving the growth of the Vaccine Storage Equipment Market. Furthermore, the increasing presence of major players across the globe, growing awareness about immunization programs among people, growing prevalence of infectious diseases is boosting the vaccine storage equipment market over the forecast period.
The scope of this report encompasses the market by its most significant segments, which include the following: