[URL=https://www.industryarc.com/Report/19492/vaccine-storage-and-packaging-market.html?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]Vaccine Storage & Packaging Market[/URL] size is estimated to reach $39.8 billion by 2026, growing at a CAGR of 10.1% during the forecast period 2021-2026. Vaccine storage and packaging devices are laboratory products that are used to maintain the life of vaccines and also for avoiding degradation. Vaccine storage & packaging products are increasingly being adopted across the world owing to the growing awareness about the importance of vaccine packaging and the rise in focus by International Organizations, such as the Centers for Disease Control and Prevention (CDC).Key Takeaways
Geographically, the North America Vaccine Storage & Packaging Market accounted for the highest revenue share in 2020 and it is poised to dominate the market over the period 2021-2026 owing to the rise in awareness about the importance of proper storage practices for Diphtheria-tetanus-pertussis vaccines.
The increase in the adoption of bio-degradable and lightweight corrugated boxes is driving the corrugated boxes segment. However, stringent government regulations regarding the packaging of various vaccines are one of the major factors that are said to reduce the growth of the Vaccine Storage & Packaging Market.
Detailed analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Vaccine Storage & Packaging Market report.
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Vaccine Storage & Packaging Market Segment Analysis - By Geography
The Vaccine Storage & Packaging Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and Rest of World. North America held the largest share with 34% of the overall market in 2020. The growth in this segment is owing to the factors such as the growing awareness about the importance of proper storage practices for Diphtheria-tetanus-pertussis vaccines and the increase in the demand for glass ampoules for packaging injection drugs. The rise in the demand for automated storage and retrieval systems for storing vaccines is driving the growth of the Vaccine Storage & Packaging Market.
Vaccine Storage & Packaging Market Drivers
Increase in the Focus on Storage Equipment for Diphtheria-tetanus-pertussis Vaccines is Projected to Drive Market Growth
Rise in the Demand for Immunization Refrigerators is Expected to Boost Product Demand
Vaccine Storage & Packaging Market Competitive Landscape:
Key companies of this market are Helmer Scientific, DB Schenker, Cardinal Logistics, PHC Holdings Corporation, Tobin Scientific, DHL International GmbH, McKesson, Thermo Fisher Scientific, Labnet International, Inc,, Vestfrost Solutions among others.
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