Vaccine Storage and Packaging Market to Surpass US$ 19.9 Bn by 2030

The global vaccine storage and packaging market is expected to surpass US$ 19.9 Bn by 2030, exhibiting a CAGR of 11.8% during the forecast period (2023-2030). Vaccine storage equipment is laboratory equipment that is used to keep vaccines in the best possible condition and prevent them from degrading. Minor temperature fluctuations have negative effects on patients who are being immunized, so maintaining vaccines at the required temperature is critical and one of the major challenges faced by healthcare facilities. Vaccine storage equipment can be used at temperatures ranging from -86°C to 65°C and comes in a variety of capacities to meet the needs of the end user. Biotechnology companies, blood banks, hospitals and medical laboratories, pharmacy stores, and other healthcare institutions all use vaccine storage equipment.

Rapid surge in demand for vaccines, owing to the increasing population being infected by the COVID-19 virus coupled with the significant rise in the global population are driving the growth of the global vaccine storage & packaging market. Rising awareness among the global population about the importance of vaccination for babies for various life-threatening diseases, including polio, diphtheria, hepatitis, rotavirus, and measles is expected to drive demand for vaccine storage & packaging.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/vaccine-storage-and-packaging-market-4313

Key Takeaways:

Industry Developments such as the market is witnessing key industry developments such as mergers, acquisitions, and partnerships. Overall, the vaccine storage and packaging market is expected to experience significant growth in the coming years, driven by the increasing demand for vaccines and the need for proper storage and packaging to maintain their efficacy. Temperature control and industry developments are key factors influencing the market.

Market Trends

Among regions, Asia Pacific accounted for a significant market share in 2022 The growth of the population in the region and the rising awareness among individuals in the region are expected to boost the demand for vaccines in this region, thus driving the vaccine storage & packaging market growth in Asia Pacific.

Competitive Section:

Company Names