Vaccine Storage Market to show healthy growth rate of 5.1 % CAGR by 2025johndsouzaind | April 15, 2019 | 0 | Machinery and Equipments , Pharmaceutical and Healthcare
Global Vaccine Storage Equipment Market
The Vaccine Storage Equipment market is significantly driven by increasing government investments to promote vaccine research and development. According to the Government of the United Kingdom, the government is actively taking coordinated actions to address vaccine development. The United Kingdom government has invested around $120 million between 2016 to 2021 for the development of new vaccines for various infectious diseases. Also, the United Kingdom Vaccine Network has also supported the government to shortlist and identify targeted opportunities for the most promising vaccines that would help to combat infectious diseases with epidemic potential in order to address structural issues related to the UK’s vaccine infrastructure. Similarly, global pharmaceutical companies invested about $58.8 billion in R&D in 2015, Pharmaceutical R&D and a significant part of it is invested in drug and vaccine development as per the Pharmaceutical Research and Manufacturers of America. With the development of a new generation of vaccines is making public health better thus, reducing the burden of diseases such as pneumococcal and rotavirus disease such as cancer caused by human papillomavirus. As a result, the demand and adoption of vaccine storage equipment would increase as it is specially designed to store vaccine and other medical products at a stable temperature to ensure that they do not degrade, promoting the growth of the market. However, complex regulatory procedures and huge capital investments are expected to hinder the growth of the Vaccine Storage Equipment market during the forecast period. Global Vaccine Storage Equipment Market is valued approximately USD 0.85 billion in 2017 and is anticipated to grow with a healthy growth rate of 5.1 % over the forecast period 2018-2025.
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On the basis of segmentation, the Vaccine Storage Equipment market is segmented into the product, type, and end-user. The product segment of Vaccine Storage Equipment market is classified into refrigerators, freezers and other equipment of which refrigerators segment holds the largest market share owing to the growing acceptance of vaccine refrigerators and freezers in research and educational institutes and increasing research and development activities in such sectors and institutes. Based on the type segment, the vaccine storage market is diversified into refrigerated storage and refrigerated transport. The end-user segment includes retailers, distributors, clearing and forwarding agents and others.
The regional analysis of Vaccine Storage Equipment market is considered for the key regions such as North America, Europe, Asia Pacific, Latin America, and ROW. North America dominates the Vaccine Storage Equipment market owing to the increasing research on vaccines, the growing prevalence of infectious diseases and growing awareness about immunization programs among people. Whereas, Asia-Pacific is anticipated to emerge as the fastest growing market region during the forecast period 2018-2025. The major reasons for the growth of Asia-Pacific are improving healthcare facilities and healthcare expenditure. Also, countries such as India and China offer lucrative growth opportunities across the region over the forecast period.
The leading market players mainly include-
American Biotech Supply
Panasonic Healthcare Co., Ltd
Philipp Kirsch Gmbh
Thermo Fisher Scientific, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Clearing and Forwarding Agents
Middle East & Africa
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
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Target Audience of the Global Vaccine Storage Equipment Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers VARs
Third-party knowledge providers
Table of Content Covers the topics mentioned below
Market Definition and Scope
Global Vaccine Storage Equipment Market Dynamics
Global Vaccine Storage Equipment Market, By Product
Global Vaccine Storage Equipment Market, By Type
Global Vaccine Storage Equipment Market, By End-user
Global Vaccine Storage Equipment Market, by Regional Analysis
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Name: Jennifer Daniel
Organization: Planet Market Reports