Vaccine Storage Equipment Market 2025 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2034
Page: 215 | Report Code: LS25020401 | Research Suite: Report (PDF) & Market Data (Excel)
In the healthcare industry, vaccine storage equipment is
essential, especially for preserving the efficacy and integrity of
vaccinations. Vaccines are biological products that require to be stored and
kept within certain temperature ranges in order to continue working. Thus,
specialized storage devices like freezers, refrigerators, and ultra-cold
freezers are necessary to preserve these delicate biological materials.
MARKET
OVERVIEW
The vaccine storage equipment market is valued at approximately USD 0.82 billion in 2023 and is projected to reach USD 1.76 billion by 2034 exhibiting a compound annual growth rate of 7.2% during the forecast period of 2024-2034. Proper vaccine storage equipment ensures that vaccines are maintained at ideal temperatures for their entire lifecycle, from production to administration.
GROWTH
DRIVERS
As infectious diseases become more common, the demand for
vaccines increases, which in turn necessitates proper storage equipment. For
instance, the global outbreak of diseases such as dengue fever, influenza,
tuberculosis, malaria, Zika virus, chikungunya, pneumonia, and HIV has led to
an increased vaccination effort. The increase in vaccination campaigns
necessitates reliable storage equipment to guarantee that vaccines stay
effective and safe during transportation and storage.
The demand for appropriate storage solutions is increasing
due to strict regulatory requirements related to vaccine storage. Vaccine
storage facilities around the globe are subject to regulations that require
specific temperature controls. National health authorities and regulatory
organizations like the World Health Organization (WHO) have established
particular strict guidelines on vaccine storage conditions. These regulations
compel healthcare providers to invest in high-quality storage equipment that
are capable of ensuring that vaccines are stored at the required temperatures.
MARKET
SEGMENTATION:
By Type
-
·
Refrigerated Storage
·
Refrigerated Transport
By Product
-
·
Refrigerators
o Large
Capacity Refrigerators
o Small
Capacity Refrigerators
·
Freezers
o Low-Temperature
Freezers
o Ultra-Low
Temperature Freezers
o Auto
Defrost Freezers
o Manual
Defrost Freezers
·
Vaccine Carrier/Cold Box
o Standard
Vaccine Carrier/Cold Box
o Freeze
Preventive Vaccine Carrier/Cold Box
·
Monitoring Devices
o Temperature
Monitoring Systems
o Alarm
And Alert Systems
·
Others (Associated Accessories, etc.)
By End
User -
·
Vaccination Centers
·
Pharmaceutical Companies
·
Hospitals & Clinics
·
Others (Pharmacies, Research
Laboratories, Public Health Organizations, etc.)
By
Region -
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
Middle East & Africa
Vaccine
Storage Equipment Market By Type Segment Review:
Refrigerated storage is a vital part of the vaccine storage equipment market. It is designed to keep vaccines at optimal temperatures to ensure their efficacy and safety. The demand of this segment is growing due to strict regulations enforced by global health authorities which necessitates the use of reliable refrigerated storage solutions for vaccines to remain effective.
Vaccine
Storage Equipment Market By Product Segment Review:
In 2024, refrigerators segment is anticipated to hold the
largest share of the market due to their essential role in maintaining the
required temperature for vaccines. The rising incidence of vaccine preventable
diseases is increasing the demand for reliable refrigeration systems that are
capable of maintaining vaccines at optimal temperatures.
Vaccine
Storage Equipment Market By End User Segment Review:
In 2024, hospitals & clinics segment is expected to hold
the largest share of the vaccine storage equipment market due to their critical
role in administering vaccines. The demand for adequate
vaccine storage facilities within hospitals and clinics is growing as
healthcare infrastructure develops, particularly in developing nations.
Vaccine
Storage Equipment Market By Region Segment Review:
The market exhibits significant regional variations, with
North America leading the market in 2024 due to its advanced healthcare
infrastructure and high vaccination rates.
Vaccine
Storage Equipment Market Regional Synopsis:
North America is anticipated to dominate the global vaccine
storage equipment market due to increasing vaccination initiatives,
technological advancements, expansion of healthcare infrastructure, and
increasing awareness about vaccine efficacy among healthcare professionals and
the general public.
The Europe is another crucial market, driven by a
combination of increasing vaccination programs, a growing biopharmaceutical
sector, rising awareness of vaccine safety, supportive government policies, and
the expansion of healthcare facilities.
The market in Asia Pacific is expected to witness maximum CAGR
during the forecast period due to its large population base requiring
vaccinations, increasing government initiatives to improve immunization
coverage, and rising incidences of infectious diseases.
In Latin America, the market is witnessing growth potential
due to increasing demand for vaccines due to public health initiatives,
regulatory compliance requirements enforced by health authorities,
technological advancements enhancing monitoring capabilities, and expansion of
healthcare infrastructure improving access to vaccinations.
The market is growing in the Middle East and Africa region due to increase in vaccination programs, growing awareness among healthcare providers and the general public about the importance of vaccine safety and efficacy, and expansion of healthcare infrastructure, including hospitals, clinics, and vaccination centers.
Key
Challenges:
Maintaining the integrity of the cold chain, especially in developing countries, is one of the main challenges in vaccine storage equipment market. The cold chain is the supply chain that regulates temperatures to ensure vaccines are stored and transported at prescribed temperatures from production to administration. Any interruption in this process often reduces potency of vaccines or diminishes its effectiveness completely.
For instance, a vaccine is capable of losing its effectiveness if
it is exposed to temperatures outside of the recommended range (2° C to 8° C
for refrigerated vaccines), which further necessitates revaccination and wastes
resources. This wastage is especially noticeable in low-income nations where
access to modern refrigeration technology has limitations and the electrical
supply is often unstable.
The vaccine storage sector is heavily regulated because it
is critical to maintain vaccine potency and safety. Compliance with health
authorities' stringent regulations often become complex and expensive process
for manufacturers. This involves adhering to guidelines that pertain to
temperature control, monitoring systems, and reporting requirements. Any
failure to this compliance has the potential to cause severe penalties and the
loss of market access.
Competitive
Landscape:
The global market for vaccine storage equipment is
characterized by a diverse range of established manufacturers, emerging
companies, and specialized firms, each striving to enhance their market
presence through various strategies such as technological innovation,
collaboration, geographic expansion, sustainability efforts, pricing tactics,
customer service enhancement, and effective marketing approaches aimed at
solidifying market presence.
Companies are investing significantly in research and
development (R&D) to innovate and enhance their product offerings. This
includes the development of cutting-edge refrigeration technology like
solar-powered refrigerators, intelligent temperature monitoring systems, and
freezers with extremely low temperatures made especially for certain
vaccinations. Enhancing product efficiency and reliability also allows
companies to meet the rigorous requirements for vaccine storage.
Key
Players:
·
Thermo Fisher Scientific Inc.
·
Eppendorf SE
·
Cardinal Health, Inc
·
PHC Holdings Corporation
·
Blue Star Limited
·
B Medical Systems (Azenta, Inc.)
·
Haier Biomedical
·
Dulas Ltd.
·
Arctiko Ltd.
·
Evermed S.R.L.
·
Labcold Limited
·
Helmer Scientific Inc.
· Other Key & Niche Players