Brussels, Belgium, May 17, 2022 (GLOBE NEWSWIRE) --
Description:
Vaccines are sensitive biological substances that can lose their potency and effectiveness if exposed to temperatures outside the appropriate range. Vaccine storage equipment (such as refrigerators and freezers) plays a very important role in protecting individuals and communities from vaccine-preventable diseases. Proper storage and handling of vaccines begin with an effective vaccine “Cold Chain”. If the cold chain is not properly maintained, vaccine potency may be lost.
Implementation of the Global Vaccination Programs
Vaccination programs are among the most cost-effective ways to prevent disease. Currently, a large number of vaccination programs are run by international organizations (such as WHO, and UNICEF) as well as local governments across the globe. Some of the leading global programs include Immunization Program by UNICEF, and Vaccines for Children (VFC), among others.
Ultra-Low Temperature (ULT) Cold Storage for mRNA based Vaccines Drives the Vaccine Storage Equipment Market
When Pfizer-BioNTech and Moderna announced the development of their COVID-19 vaccines that require ultra-cold storage at -70 °C to prevent degradation of mRNA-based covid vaccines, a newfound interest in ultra-cold storage started to rise. For instance,
- In April 2022, To strengthen Armenia’s National cold chain capacity and boost COVID-19 immunization programs, UNICEF, with USAID funding, procured 80 refrigerators and 285 freezers.
- In December 2021, The UN Children’s Fund (UNICEF) with support from USAID delivered 14 ultra-low temperature freezers for storage of Pfizer vaccines in Ukraine.
Covid-19 Impact & Government Initiatives Fuels the Demand
The outbreak of the COVID-19 pandemic has created an urgent demand for vaccines all over the world. COVID-19 vaccine products also impacted the types of vaccine storage units and temperature monitoring devices used to maintain the cold chain, including the use of ultra-cold storage as COVID-19 vaccines differ from those of other vaccines.
The initiatives taken by the government organizations have triggered a race among leading drug-makers and research institutes to develop a Covid-19 vaccine at the earliest which in turn is expected to increase the demand for vaccine storage equipment in the future. For instance,
- In October 2021, UNICEF procured the equipment with funding from the Government of Japan through its global vaccine initiative ‘Last One Mile Support.
- In September 2021, the Kenyan Ministry of Health received 12 items of ULT freezers and accessories for storage of COVID-19 vaccines.
Lack of Infrastructure in Emerging Economies
The lack of storage infrastructure is the most basic challenge in developing countries, typically in the areas of operational efficiency, planning, talent availability, transportation, and warehousing infrastructure, as well as data systems and governance models.
Competitive Landscape Analysis: Vaccine Storage Equipment Market
Some of the key/promising players operating in the global vaccine storage equipment market include AmerisourceBergen Corporation, Arctiko, B Medical Systems, Sartorius, and Vestfrost Solutions, among others.
Companies Adopting Inorganic Growth Strategies to Increase their Market Share
Players operating in the market adopt both organic and inorganic growth strategies such as collaborations and acquisitions, to garner market share. For instance,
- In April 2022, Dulas announced the agreement with IoT Company Beyond, to provide integrated remote temperature monitoring on its Solar Direct Drive vaccine refrigerators.
- In June 2021, AmerisourceBergen Corporation announced the acquisition of Alliance Healthcare.
The vaccine storage equipment market is a growing market that is expected to gain further momentum in the coming years due to an increase in the development of technology, a favorable regulatory landscape, and increasing investments from the government globally.
Explore Detailed Insights on Vaccine Storage Equipment Market @ https://meditechinsights.com/global-vaccine-storage-equipment-market/
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