What is Global Vaccine Storage Equipment Market?
The Global Vaccine Storage Equipment Market is a vast and dynamic sector that plays a crucial role in the healthcare industry. This market is primarily concerned with the storage and transportation of vaccines, which are biological substances that help prevent diseases. The equipment used in this market is designed to maintain the potency of vaccines by keeping them at the right temperature and conditions. In 2023, the market was valued at US$ 1137.4 million and it is projected to reach US$ 1768.2 million by 2030. This growth is driven by the increasing demand for vaccines, advancements in storage technology, and the global efforts to improve immunization coverage. The market includes various types of equipment such as refrigerators, freezers, and transport boxes, each with its own unique features and applications.
Refrigerated Storage Equipment, Refrigerated Transport Equipment in the Global Vaccine Storage Equipment Market:
The Global Vaccine Storage Equipment Market is segmented into two main categories: Refrigerated Storage Equipment and Refrigerated Transport Equipment. Refrigerated Storage Equipment is used to store vaccines at a controlled temperature in healthcare facilities, pharmacies, and laboratories. These devices are equipped with advanced features like temperature monitoring and alarm systems to ensure the safety of vaccines. On the other hand, Refrigerated Transport Equipment is used to transport vaccines from manufacturers to end-users while maintaining the required temperature. This equipment is crucial in the cold chain logistics of vaccines, especially in regions with harsh weather conditions or inadequate infrastructure. Both types of equipment are essential in preserving the efficacy of vaccines and preventing vaccine wastage.
Retailers, Distributors, Forwarding Agents, Others in the Global Vaccine Storage Equipment Market:
The Global Vaccine Storage Equipment Market serves a wide range of end-users including Retailers, Distributors, Forwarding Agents, and others. Retailers, such as pharmacies and clinics, use this equipment to store vaccines for immediate use or sale. Distributors, on the other hand, use it to store and transport large quantities of vaccines from manufacturers to various points of sale. Forwarding Agents, who are responsible for the logistics of vaccine delivery, also rely on this equipment to ensure that vaccines reach their destination in optimal condition. Other end-users include research institutions, government agencies, and non-profit organizations involved in immunization programs. The use of vaccine storage equipment by these end-users not only ensures the availability of effective vaccines but also contributes to public health by preventing disease outbreaks.
Global Vaccine Storage Equipment Market Outlook:
Looking at the market outlook, the Global Vaccine Storage Equipment Market is on a positive growth trajectory. In 2023, the market was valued at US$ 1137.4 million and it is expected to grow at a Compound Annual Growth Rate (CAGR) of 6.4% to reach US$ 1768.2 million by 2030. This growth is in line with the overall growth of the global medical devices market, which is estimated to be worth US$ 603 billion in 2023 and is projected to grow at a CAGR of 5% over the next six years. The growth of the Vaccine Storage Equipment Market can be attributed to the increasing demand for vaccines, technological advancements in storage equipment, and the global efforts to improve immunization coverage.
| Report Metric | Details |
| Report Name | Vaccine Storage Equipment Market |
| Accounted market size in 2023 | US$ 1137.4 million |
| Forecasted market size in 2030 | US$ 1768.2 million |
| CAGR | 6.4% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
|
| Segment by Application |
|
| Consumption by Region |
|
| By Company | American Biotech Supply, Arctiko, Eppendorf, Evermed, Haier Biomedical, Helmer Scientific, Labcold, Panasonic Healthcare, Philipp Kirsch Gmbh, Thermo Fisher Scientific |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
