[FURL=https://www.industryarc.com/Report/19492/vaccine-storage-and-packaging-market.html]Vaccine Storage & Packaging Market[/FURL] size is $0.987Bn in 2019, growing at a CAGR of 4.76% during the forecast period 2020-2025. Vaccine Storage & Packaging are laboratory devices that are used to preserve and maintain the life of vaccines in a desired state and to avoid degradation. The vaccines are packed in individual cylindrical vials (each containing one or more doses) and bundled together in rectangular inner containers for transport into even larger groups, such as cold boxes and vaccine carriers. Storage facilities for vaccines provide storage at varying temperatures ranging from 86 degree Celsius to 65 degree Celsius and are available in various capacities depending on end-user requirements. In biotechnology firms, blood banks, hospitals & medical labs, drug stores, and related health care facilities, vaccine storage equipment has wide applications. In addition, the need for vaccine storage and transport is projected to be extremely strong in 2021 with the Covid-19 pandemic.Key Takeaways
Growing research on vaccines is one of the key factors anticipated to improve sales of the Vaccine Storage & Packaging products.
Rising infectious diseases and favorable government initiatives to improve healthcare infrastructure is likely to be the major driving factor for the market’s growth.
Europe region is anticipated to record the fastest growth rate during the forecast period 2020-2025.
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Vaccine Storage & Packaging Market Segment Analysis - By Geography
In 2019, the North American region dominated Vaccine Storage & Packaging Market in terms of revenue with a market share of 37.1% owing towards rising public & private funding for R&D in this region. Increasing research on vaccines, increasing people's awareness of immunization programs, the presence of major players in the region, and increasing the prevalence of infectious diseases aids to the market’s growth. For instance, 1.5 billion was invested in vaccine research in 2015 by the National Institute of Health (NIH)-U.S.-based medical research center and is projected to cross 1.8 billion by 2017. The entry of emerging vaccine manufacturers, particularly in the underutilized vaccine market, has also resulted in lower vaccine prices owing to increased competition and higher production capacity for individual vaccines.
Vaccine Storage & Packaging Market Drivers
Rapid Advancement For The Production Of Vaccine with Storage & Packaging
Vaccine Storage & Packaging Industry. Vaccine Storage & Packaging top 10 companies include Helmer Scientific, EVERMED s.r.l., American BioTech Supply, BIOBASE, C.F. di Ciro Fiocchetti & C. s.n.c., PHC Corporation, Vestfrost Solutions, Dulas Ltd., Cole-Parmer Instrument Company, LLC and Labnet International Inc.
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