Vaccine Carrier and Cold boxes Market shall reach a value of $149.3 Million in 2027, growing with a CAGR of 7.1% during the forecast period of 2020 to 2027.
The usage for vaccine carrier and cold boxes is expected to increase rapidly as there will be more demand for economical cold chain solutions for the last-mile reach of the vaccine. A lot of children die every year due to lack of vaccination and most of the time, due to the lack of last-mile reach of immunization campaigns. Another driving factor for the vaccine carrier and cold boxes includes its super-convenient size that could be carried easily by one single worker in hand. These boxes are also used to carry vaccines from primary healthcare centers to intermediate vaccines store. The outbreak of various deadly diseases like cancer and other chronic diseases will also fuel the growth of cold boxes as medicine and vaccine carriers. Also, the growing prevalence of various endemic diseases like smallpox, Ebola, measles, etc. that require immediate medical help and vaccination is another driving factor for the vaccine and cold boxes market.
In spite of great demands, vaccine carriers and cold boxes market might face a setback. The main reasons include the disorganised supply chain and a lack of management. Lack of proper knowledge and education regarding the selection of appropriate isothermal boxes and usage of coolant-packs can hamper the vaccine quality and decrease its shelf life during transportation. The vaccines also lose their potency if the supply chain isn’t maintained at a desired range of temperature.
The vaccine and cold boxes market have a string of opportunities that could boost the market. The initiative to launch CCE or Cold Chain Equipment will greatly strengthen the sales by providing financial support and incentives for higher performance. This will assure efficient, sustainable, affordable, and better performing.
Growth and Trends
Over a period of time, all vaccines lose their potency and as the rate of this loss is temperature-dependent, the World Health Organization recommends vaccine products to be transported and stored between 2°C and 8°C. Maintaining this range from the point of manufacture to the point of administration needs an accurate temperature-controlled supply chain or cold chain—a global distribution network of equipment and procedures for sustaining the potency of the product during transport, storage, and delivery. A boost in the demand for economical cold chain solutions for the last-mile reach of vaccine is most likely to foster the rapid market growth for vaccine carriers. There is a high mortality rate among children owing to lack of vaccination and most of the times, as a result of the lack of last-mile reach of immunization campaigns. Another bolstering factor for the vaccine carrier and cold boxes is its super-convenient size that makes it easily portable by one single worker in hand, and these boxes are also used to transport vaccines from primary healthcare centres to intermediate vaccines store. The outbreak of a range of life-threatening diseases such as cancer and other chronic diseases will also stimulate the growth of cold boxes as medicine and vaccine carriers. The growing prevalence of endemic diseases like that require immediate medical help and vaccination adds to the driving factors for the vaccine and cold boxes market.
Despite great demands, vaccine carriers and cold boxes market might face a setback for the disorganised supply chain and lack of management stemming from a lack of adequate knowledge regarding the appropriate selection of isothermal boxes and usage of coolant-packs can affect the quality of the vaccine and decrease its shelf life during transportation. The vaccines also lose their potency if a desired range of temperature is not maintained.
In the last decade, there is a high demand for the vaccine carrier and cold boxes that boomed the market. North America accounts to be the largest market, and the Asia Pacific is expected to be the second largest during the years 2020 - 2030. The development of the vaccine carrier and cold boxes markets in other regions like Europe and Latin America is supposed to be sluggish due to inactiveness in technology and the slow recovery of the economy. The companies like AOV International, Medical Systems, Blowkings, Badu Technology, Lab cold, Xinxiang dengue Cold chain equipment, and Polar Thermal Packaging are the largest suppliers globally.
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