Vaccine Storage Equipment Market: High prevalence of infectious diseases across the globe to drive the market
Vaccine Storage Equipment Market Introduction
Vaccine storage equipment are laboratory equipment used to maintain and preserve the life of vaccines in a desired condition and to prevent them from degradation. Maintenance of vaccines at required temperature is crucial and one of the major challenges faced by health care facilities, as minor fluctuations in the temperature lead to adverse effects on patients to be immunized. Vaccine storage equipment offer storage at different temperatures ranging from -86 oC to 65 oC and are available in different capacities based on the requirements of an end-user. Vaccine storage equipment have wide applications in biotechnology companies, blood banks, hospitals & medical laboratories, pharmacy stores, and related health care institutes.
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Vaccine Storage Equipment Market – Competitive Landscape
The global vaccine storage equipment market is highly fragmented with several domestic players holding key market share in respective region. Easy availability and technological knowhow of these products, large volume business for vaccine storage equipment and easy entry for new players into vaccine storage market etc. factors have attracted large number of domestic manufacturers into this field
Thermo Fisher Scientific Inc.
Thermo Fisher Scientific Inc. is one of the world leaders in development and manufacturing of life science devices, equipment, and novel technologies for the biopharmaceutical and health care industry. The company operates in four business segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products & Services. The vaccine storage equipment are marketed under the Laboratory Products & Services segment.
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Eppendorf Group is one of the leading global life science companies that deals in the development, manufacturing, and marketing of life science instruments, consumables, and services to laboratories across the world. The company’s key product line includes pipettes and automated pipetting systems, centrifuge systems, mixers, dispensers, and PCR equipment as well as fermenters & bioreactors, and ultra-low temperature deep freezers. The company’s product portfolio is categorized into three business segments: Liquid Handling, Cell Handling, and Sample Handling.
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Labnet International, Inc.
Labnet International is a U.S.-based worldwide supplier of laboratory products and equipment to support day-to-day activities performed in life science laboratories. The company’s key product portfolio includes laboratory centrifuge equipment, pipettes and liquid handling products, shakers & rockers, temperature equipment, and laboratory plastics. The company markets its products and services under well-established brands such as Spectrafuge, BioPette, Enduro, AccuBlock, and MultiGene
Cole-Parmer Instrument Company, LLC
Cole-Parmer Instrument Company, LLC. is a U.S. based leading global supplier, channel partner, and manufacturer of industrial and laboratory liquid handling products, instrumentation, equipment, and supplies. The company primarily specializes in temperature measurement and control, electrochemistry, and fluid handling products.
The other prominent players operating in the global vaccine storage equipment market includes PHC Corporation, Vestfrost Solutions, Dulas Ltd., BIOBASE, C.F. di Ciro Fiocchetti & C. s.n.c., Helmer Scientific, EVERMED s.r.l., American BioTech Supply (Standex International Corporation), and B Medical Systems.
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Vaccine Storage Equipment Market – Dynamics
Technological Advancements in Refrigerators and Freezers to Drive the Global Market
The global vaccine storage equipment market is projected to be driven by technological advancements in refrigerators and freezers used for vaccine storage and transportation. Leading companies have made significant investments in research and development to address the unmet medical needs in the storage and transportation of vaccines in health care facilities. Moreover, significant rise in incidence of infectious diseases especially in developing countries, high prevalence of infectious diseases across the globe, and rapid increase in population are anticipated to spur demand for vaccines during the forecast period. This in turn is expected to drive demand for vaccine storage equipment. Furthermore, increased government involvement in spreading health awareness, vaccination programs, and increase in R&D funding for developing novel vaccines are likely boost the growth of the global vaccine storage equipment market during the forecast period. However, high cost of bench top refrigerators, stringent requirements for vaccine storage, and lack of skilled personnel in operating vaccine freezers are projected to restrain the global vaccine storage equipment market.
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