The Infinium Global Research analyzes the Vaccine Transport Containers Market over the period of 2020 to 2026. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in global vaccine transport container market. It will help a lot of decision makers to develop strategies and find new opportunities in the global markets of vaccine transport container. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the vaccine transport container market during the period. The global vaccine transport container is projected to grow at a CAGR of 6.8% over the forecast period of 2020-2026.
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Evolution of vaccine industry has given birth to several other markets including cold chain and vaccine storage. The growingdemand for delivering the vaccine securely and effectively to the masses has augmented the demand for vaccine transport containers. Since its invention, vaccine has saved life of millions of people by protecting them from various diseases. Several government and non-government organizations are carrying immunization programs across various countries around the world. The health workers from these organizations visit some remote places to deliver vaccines to the people living there. The health workers use transport containers to carry vaccines to such places. Moreover, the efforts taken by national as well as international organizations to eradicate various communicable diseases are further propelling the vaccination and immunization. This, in turn, is anticipatedto boost the sale of vaccine transport containersover the coming years.
Coronavirus to Support Short-Term Demand of Vaccine Transport Containers and is Anticipated to Boost the Immunization Programs in the Long-Term
The spread of coronavirus stimulated the research and development activities for finding vaccine to cure the disease as well as prevent it from spreading. Several government and private organizations have started to carryout studies to search and develop vaccine for COVID19. Millions of people have been infected by the virus and the number is expected to grow. Thus, the demand for vaccine is tremendous and it is expected to put pressure on manufacturers as well as healthcare professionals for delivering it to the masses. Manufacturing huge amount of vaccine in the smallest period of time is one of the major challenges for combating COVID19.
Similarly, the logistics of vaccine across the world is another challenge posed by the huge demand for vaccine. Many medical equipment companies are manufacturing vaccine transport containers to tackle this challenge of logistics. The governments of countries affected by coronavirus are planning for nationwide immunization campaigns against the disease. The governments are building infrastructure to deliver the vaccine to a large part of the population as soon as it gets available in the market. The health workers are provided with vaccine containers to carry vaccines to remote places. This, in turn, is expected to augment the growth of the market during pandemic.
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Pharmaceutical Manufacturers & Distributors are Expected to Adopt Vaccine Transport Containers at Higher Rate due to Increasing Demand for Safe Transportation of the Vaccines
Pharmaceutical manufacturers & distributors play a key role in the vaccine supply chain. Most of the time, the manufacturers and distributors are majorly responsible for the safe and secure transportation of the vaccine to the hospitals and other healthcare facilities. The manufacturers supply batches of produced vaccines to the hospitals. Similarly, the distributors procure the vaccines from manufacturers and supply them to the end-users such as hospitals, clinics and other healthcare facilities. To supply the vaccines safely, without disturbing its efficacy, is the major challenge for the manufacturers and distributors. To do so, they use the vaccine transport carriers, which help in storing batches of vaccine to be supplied. Moreover, the vaccine manufacturers and distributors collaborate with the government and private healthcare organizations to supply them with vaccines. This, in turn, is expected to boost the adoption of vaccine transport containers for pharmaceutical manufacturers & distributors.
Vaccine Transport Containers Market is Expected to Witness Several Mergers and Acquisitions Over the Forecast Period
The vaccine transport containers industry is highly fragmented and consists of a large number of multinational as well as local market players. The leading companies in the vaccine transport containers industry including B Medical Systems, InpacAircontainer, Sintex Plastic Technology, AOV International, GPC Medical Ltd., and Cyro scientific systems Pvt Ltd.few others hold a significant share in the market. Moreover, the efforts from governments to promote immunization through various initiatives and programs are augmenting the competitiveness in the market.
For instance, the Universal Immunization Programme (UIP) by the government of India is one of the largest public health programs targeting nearly 26.7 million newborns and 29million pregnant women annually. The program has successfully reducedthe vaccine preventable under-5 mortality rate. Furthermore, the market players are acquiring approvals from medical equipment regulation bodies to manufacture and market their products across different markets.
For instance, in June 2020, B Medical Systems obtained the new European Medical Device Regulation (MDR) certification for medical refrigeration and vaccine cold chain. Similarly, B Medical Systems obtained the SCoPE accreditation granted by the American Association of Blood Banks (AABB) for the plasma storage freezers, contact shock freezers, and blood bank refrigerators in 2019.
Asia-Pacific be the Largest User of Vaccine Transport Containers in the World
As per the geographic trends, Asia-Pacific region is expected to have the largest revenue in the global vaccine transport containers market. The domination of Asia-Pacific in the global market is mainly due to the countries such as the China and India, whichhave a large population base that requires immunizations. The government initiatives to promote immunization are majorly driving the market growth in the region. The governments and private organizations are carrying out immunization programs across small towns and villages in Asian countries. This, in turn, is expected to boost the market growth in the region.
Furthermore, a large amount of funding from governments and international healthcare agencies is focused on immunization of people in Asia Pacific. International organizations including WHO and UNICEF are funding heavily on improving the health of population in Asia Pacific. Growing amount of funds been utilized for improving the health conditions of people in Asia Pacific is driving the growth of the vaccine transport containers market in the region.
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