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.
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.
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.
Vaccine Storage Equipment Market – Segmentation
On the basis of Equipment type, the global vaccine storage equipment market can be divided into:
- Bench Top Refrigerators
- Undercounter refrigerators
- Single door refrigerators
- Double door refrigerators
- Combo Equipment
On the basis of Portability, the global vaccine storage equipment market can be divided into
- Portable equipment
- Non-portable equipment
On the basis of End-user, the global vaccine storage equipment market can be divided into
- Biopharmaceutical companies
- Medical laboratories
Regional analysis for vaccine storage equipment market includes:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.