Vaccine Refrigerators Market was estimated at USD 980.0 million in 2021, and it is anticipated to reach around 5,200 million in 2030, growing at a CAGR of 5.5% over the forecasted years.
The examinations and investigations of vaccines is one of the major factors for the market growth and increasing public awareness regarding immunisation programme. Furthermore, the market is expanding rapidly due to growing R&D spending and technological developments in the healthcare sector. Moreover, the incidence and prevalence of infectious diseases have been on the rise. However, it is anticipated that the shortage of skilful healthcare professionals and the concern associated with the sizeable initial expenditure would hinder the vaccine refrigerator market’s growth.
Market Dynamics:
The market for vaccine refrigerators’ drivers and restraints are comprehensively described in the research report. One of the greatest medical advancements ever was the development of vaccines, which have successfully eradicated fatal illnesses like polio and smallpox. But strict handling, transport, and storage guidelines must be strictly adhered to for vaccinations to function as intended. Vaccines are now being developed for more than 271 different diseases, including cancer, allergies, neurological problems, and infectious diseases. The development of so many novel vaccinations will necessitate a paradigm shift in how vaccines are created, maintained, and administered. For example, a number of cutting-edge vaccines are frequently sold in single or two-dose packets. Although this lessens the surplus, it also necessitates additional cold chain space per dose.
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Some of the key players operating in the global vaccine refrigerators market include:
- Thermo Fisher Scientific, Inc.
- Haier Biomedical
- Aegis Scientific, Inc.
- Godrej Medical Refrigerators
- Eppendorf AG
- LABREPCO
- Panasonic Healthcare Co.
- Standex
- Leibherr Group
- B Medical Systems S.à r.l.
- Philipp Kirsch GmbH
- Helmer Scientific
- Other players
Segments
By Type
- Cold Chain Type
- Common Indoor Type
By End User
- Epidemic Prevention Stations
- Hospitals & Clinics
- Research Laboratories
- Pharmacies
- Others
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