USD 16.30 billion
Vaccine Storage Equipment Market Size, Share, Growth Analysis, By Type(Refrigerated transportation, refrigerated storage), By Product(Refrigerator, Freezer, cold boxed), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG35A2149 |
Region:
Global |
Published Date: April, 2024
Pages:
219
|Tables:
62
|Figures:
75
Vaccine Storage Equipment Market Insights
Vaccine Storage Equipment Market size was valued at USD 17.98 Billion in 2023 and is poised to grow from USD 19.83 Billion in 2024 to USD 43.45 Billion by 2032, growing at a CAGR of 10.3% during the forecast period (2025-2032).
Rising government spending on vaccination programmes and rising healthcare institutions’ and biopharmaceutical firms investments in vaccine research and development will propel the market growth during the projected period. This industry is expected to increase as a result of the lack of Internal storage capacity, expertise, and financial restrictions faced by biopharmaceutical businesses, governmental organisations, and academic institutions. The market for vaccine storage equipment is also being driven by the consistently expanding worldwide immunisation coverage.
Technological developments in the market, such SDD refrigerators and RFIDs, are expected to propel the market. In order to satisfy the unmet medical needs in the storage and packaging of vaccines in healthcare institutions, the majority of the top corporations have made considerable investments in R&D. The market for vaccine storage is also being driven by growing knowledge about early illness detection and prevention as well as the rise in the prevalence of infectious diseases.
US Vaccine Storage Equipment Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
refrigerated storage
Fastest Growth
Refrigerated transportation
Growth Rate
10.3% CAGR
Global Vaccine Storage Equipment Market 2021-2030 ($ Bn)
Country Share for North America Region- 2021 (%)
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Vaccine Storage Equipment Market Segmental Analysis
Vaccine Storage Equipment Market is segmented based on the type, product and application and region. Based on the type, the Vaccine Storage Equipment Market is segmented into refrigerated transportation, refrigerated storage. Based on the product, the market has been segmented into refrigerator, freezers and cold boxed. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Analysis by Product
Refrigerator segment dominates the market. This is a dominant market because normal vaccines need 2-8°c temperature to store and must not be exposed to freezing temperature. Refrigerators are the most common type of storage in health facilities as they can hold many vaccines in a single unit. This storage will help temperature-sensitive vaccines to withstand their components. Electric refrigerators (compression units) are widely used.
Freezer market is growing at the fastest segment with higher CAGR during the forecast period. For the majority of vaccine types, freezers offer an ideal storage temperature range of -15°C to -86°C. Additionally, the introduction of COVID-19 vaccines made by Pfizer and Moderna, which need temperatures between -70°C and -86°C and -20°C, is anticipated to significantly boost the market for ultra-low temperature freezers during the winter months.
Analysis by Type
Refrigerated storage dominated the vaccine storage market in 2021. Health facilities use storage called purpose-built units because Temperature too cold can result in an irreversible reaction that reduces vaccines potency and loss in adjuvant effect. These freezers or refrigerators are made especially for the storage of biologics, such as vaccines. These units differ from typical household-grade units in that they have fan-forced air circulation to help maintain a consistent temperature all around the unit and microprocessor-based temperature management with a digital temperature sensor.
Refrigerated transport is the fastest growing segment during the forecast period, because many companies are exporting their products to other countries. Vaccines are regarded as a temperature-sensitive product, necessitating logistical preparation and refrigerated vaccine shipping containers. Temperature monitoring is required at every stage of the cold chain, from vaccine production through administration, to guarantee that the vaccines are maintained within a specific temperature range. Even a small temperature difference can ruin an entire batch of vaccines, costing money and alienating customers.
Global Vaccine Storage Equipment Market By type 2021 (%)
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Vaccine Storage Equipment Market Regional Insights
North America dominated the vaccine storage market and accounted for a revenue share of 45% in 2021. The main reasons driving the market in the region include rising public awareness of vaccination programmes, expanding vaccine research, an increase in the prevalence of infectious diseases, and the presence of several logistic providers in the area with years of experience.
Asia Pacific region is expected to grow faster during the forecast period and to register a higher CAGR during the forecast period due to rising government investments in the healthcare infrastructure in the region. Growth is also anticipated to be fueled by the increased attention that major players are paying to the Asia Pacific vaccine storage market. Saudi Arabia and China also present a number of prospects for industry participants. Additionally, it is anticipated that India immunisation programmes will significantly contribute to revenue generating over the forecast period. The key factor driving this market in the region is also the rise in communicable diseases.
Global Vaccine Storage Equipment Market By Geography, 2021-2030
- Largest
- Fastest
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Vaccine Storage Equipment Market Dynamics
Drivers
Increasing R&D in Vaccines to Bolster Market Growth
- The majority of the top businesses have invested much in R&D to solve the unmet medical needs in the storage. They are focusing on advancements technology such as SDD refrigerators and RFIDS to storage improve version of vaccine. The need for protective vaccinations is fueled by increased awareness of early disease detection and prevention, as well as an increase in the occurrence of infectious diseases, which is fueling the growth of the vaccine storage industry. That is why major players need to increase their Storage facilities.
Restraints
High Cost to Hinder Market Growth
- 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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Vaccine Storage Equipment Market Competitive Landscape
Vaccine Storage Equipment Market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Top Player's Company Profiles
- Thermo Fisher Scientific Inc.
- B Medical Systems S.à r.l.
- Haier Biomedical
- Helmer Scientific
- PHC Holdings Corporation (formerly Panasonic Healthcare Holdings Co. Ltd.)
- Dometic Group AB
- Binder GmbH
- Follett LLC
- Eppendorf AG
- Angelantoni Life Science S.r.l.
- Labcold Ltd.
- Arctiko A/S
- Stirling Ultracold
- Migali Scientific
- Desmon S.p.A.
- Bionics Scientific Technologies (P) Ltd.
- Bioline Technologies
- SunDanzer
- Vestfrost Solutions
- AccuCold
Recent Developments
- In September 2022, The Asian Development Bank (ADB) approved USD 10 million to upgrade storage facilities and strengthen the distribution and administration of COVID-19 vaccines in Maldives.
- In September 2022, Thermo Fisher Scientific Partners with Pennsylvania Biotechnology Center to Support Life Sciences Growth in Philadelphia.
- In Aug 2022, Coulter and Scopio Labs partnership brings innovative digital solution to AI Workflows solution for hematology lab
Vaccine Storage Equipment Key Market Trends
- Rapid technological advances undertaken for efficient storage of medicines and vaccines are projected to propel the growth of the market during the forecast period. The use of monitors In vaccine detection for essentially all cold-chain breaks, and can detect issues, such as inadvertent freezing, that are presently not detected by other vaccine stability monitors such as Vaccine Vial Monitors.
Vaccine Storage Equipment Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Vaccine Storage Equipment Market analysis, among region north is expected to capture higher market share, the growth of the region is attributed to growing public awareness of vaccination programmes, expanding vaccine research, an increase in the prevalence of infectious diseases. US has emerged as a significant contributor to market growth in north america. In terms of type, the refrigerator storage type segment dominates the marine hybrid propulsion market. This segment's leading position can be attributed to its use to protect vaccines from the external environment. As per vaccine storage market analysis the market growth in forecast period is due to the manufacturing of vaccine they need to recover diseases in pre stage.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 16.30 billion |
| Market size value in 2031 | USD 39.39 billion |
| Growth Rate | 10.3% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Vaccine Storage Equipment Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Vaccine Storage Equipment Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Vaccine Storage Equipment Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Vaccine Storage Equipment Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Vaccine Storage Equipment Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Vaccine Storage Equipment Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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