Market Research Report
Global Medical Refrigerators for Vaccine Storage Market - 2020-2027
|Published by||DataM Intelligence||Product code||991642|
|Published||Pre-Order||Content info||180 Pages
Delivery time: 2 business days
|Global Medical Refrigerators for Vaccine Storage Market - 2020-2027|
|Published: Pre-Order||Content info: 180 Pages||
Medical refrigerators are mainly designed to meet the challenging temperature requirements for the safe storage of vaccines. These refrigerators can safely store a range of vaccines, such as rotavirus, influenza, and MMRV, at temperatures ranging from 35 °F to 46 °F. Such instruments have a microprocessor-based system that tests temperatures precisely. Digital sensors (such as resistance temperature detectors [RTDs, thermocouples and thermistors]) are also used to track the interior's temperature.
The global Medical Refrigerators for Vaccine Storage market size was worth US$ XX billion in 2019 and further predicted to reach US$ XX billion by 2027, at a CAGR of XX% during the forecast period (2020-2027).
The major factors propelling medical refrigerators' growth for vaccine Storage market are the increase in the number of government initiatives regarding medical refrigeration. Moreover, growing chronic diseases across the globe are the major factor driving the market's growth over the forthcoming period.
The rising number of chronic diseases such as diabetes, cardiovascular diseases, neurological diseases, and others is expected to stimulate the production of a large number of new vaccines and medications. Therefore, demand for a medical refrigerator with a standardized temperature facility to efficiently store the vaccines and medications safe & contamination-free for a longer period. For instance: According to the World Health Organization (WHO), it is projected that by the end of 2020, Chronic disease will account for three-quarter of all deaths worldwide, including 75% of death due to stroke, 71% of deaths due to ischaemic heart disease and 70% of deaths due to diabetes in developing countries. Since, For medicinal, pharmaceutical, and biomedical storage and processing, refrigerators deliver safe and efficient temperature control. Door openings and closures have a quick recovery time for stable and uniform temperatures with a focus on precise temperature regulation.
The high cost associated with the medical refrigerators for vaccine storage is a key factor expected to curtail the growth of the market over the forecast period. Moreover, consumer preference towards the refurbished devices over new medical refrigerators is another factor that may hamper the growth of the market in the near future.
COVID-19 Impact Analysis
The outbreak of COVID-19 has positively impacted the growth of the medical refrigerators for vaccine storage market globally. Government and various other health organization has taken favorable initiatives regarding the production of vaccines of Novel coronavirus and therefore leverages the demand for medical refrigerators for vaccine storage across the globe. For instance, on March 23rd, 2020, scientists in the United Kingdom-based Oxford University have developed rapid antibody detection kits which hold the ability to detect whether the individual is infected by Covid-19 in just about 30 minutes and specifically recognize RNA and RNA fragments
Based on the Type, the Medical Refrigerators for the vaccine Storage market have been classified into Blood Bank Refrigerators, Lab Refrigerators, Lab Freezers, Plasma Freezers, Ultra-low Temperature Freezers, and Shock Freezers.
The blood bank refrigerators segment is projected to be the dominant segment in the market during the forecast period.
Blood bank refrigerators dominated the global market in 2019, whereas plasma freezers are expected to present considerable growth in the near future. In the immunohematology department, blood bank refrigerators are beneficial and provide safe and adequate storage of whole blood and components (e.g., plasma, blood cells) and reagents.
Medical Refrigerators for Vaccine Storage is segmented on the basis of Application, which includes beauty salons, pharmacy/drugstores, specialty outlets, and online retailing.
A blood bank is expected to dominate the Medical Refrigerators for Vaccine Storage market.
Blood banks held the dominant position in the global market during the forecast period. Factors anticipated towards the largest share of blood bank is Increased demand for safe blood due to the high incidence of transmissible transfusion diseases, such as hepatitis B, HIV, and awareness of safe blood and an increasingly elderly population. Such equipment is typically used in research laboratories to cool samples/samples for storage. They have cooling systems for storing blood plasma and other blood products, vaccines, and other medical supplies. Therefore, research labs are anticipated to grow with significant CAGR in the near future.
Based on geography, the study analyzes the Medical Refrigerators for the vaccine Storage market in the global market, including North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.
North America is held a dominant position in the global Medical Refrigerators for Vaccine Storage market in 2019. In North America, the U.S. is expected to represent considerable growth during the forecast period. Factors anticipated towards the growth of the Region is the rise in technological advancements and growing awareness about safe blood storage. Whereas Medical Refrigerators for Vaccine Storage market for Asia Pacific is expected to observe rapid growth over the forecast period, backed by the increasing technological development and awareness of people's health and hygiene. Additionally, Europe is estimated to grow with a significant pace in the market due to the growing government initiatives for developing technological products and the existence of major companies in the Region such as Thermo fisher scientific, and Migali scientific.
The Medical Refrigerators for Vaccine Storage market is highly competitive, owing to the presence of big market players in the industry. The key Medical Refrigerators for Vaccine Storage players which are contributing to the growth of the global market include Standex (ABS), Fiocchetti, SO-LOW, Zhongke Duling, Aucma, Labcold, TEMPSTABLE, INDREL, HAIER, Panasonic, and HELMER, among others. The major players are adopting new product launch and expansion strategies for global growth in the Medical Refrigerators for Vaccine Storage market.
Panasonic Corp. engages in the development, manufacture, and sale of electrical products. It operates through the following segments: Appliances, Eco Solutions, Connected Solutions Company, Automotive and Industrial Systems, and Others. The Appliances segment develops and manufactures white goods such as vacuum cleaner, washing machine, refrigerator, and air conditioner; as well as health and beauty products. The Eco Solutions segment handles development, manufacture and sale of lighting fixtures and electric lamps including LED lighting, solar photovoltaic systems, wiring devices, interior furnishing materials, water-related products, ventilation and air-conditioning equipment, air purifiers, and others. The Connected Solutions segment offers system integration, installation, support, and maintenance services for aviation, manufacturing, entertainment, retail, and logistics. The Automotive and Industrial System segment develops, manufactures, sells and provide services for car-use-multimedia-related equipment, electrical components, lithium-ion batteries, storage batteries, dry batteries, electronic components, electronic materials, automation controls, semiconductors, optical devices, electronic-components-mounting machines, welding equipment, bicycles, and others. The Others segment deal with detached housing, rental apartment housing, land and buildings for sale, home remodeling, imported materials and components, and others. The company was founded by Konosuke Matsushita on March 7, 1918 and is headquartered in Osaka, Japan. Product Portfolio: The Company's portfolio comprises controlled auto defrost and controlled room temperature, and others
The global Medical Refrigerators for Vaccine Storage market report would provide access to an approx. 51 market data table, 45 figures and 202 pages.