The global solar-powered vaccine refrigerator market is anticipated to grow at a CAGR of nearly 6.5% during the forecast period (2024-2031). The solar-powered vaccine refrigerator plays an important role during the COVID-19 pandemic. As per the article published by Solarkiosk Solutions GmbH, in December 2020, around 75% of the population across the globe must be vaccinated. A big operational and infrastructural challenge, in order to achieve this goal, COVID-19 vaccines have to be transported and stored in a certain temperature-controlled environment. If vaccines are not stored correctly, they stop working effectively. Their potency is affected when they are stored outside of the correct temperature range. However, many countries have not done vaccination due to the lack of adequate cold storage infrastructure to properly store their COVID-19 vaccines at the required temperatures. As per the AP news, vaccine (cold) storage issues could leave 3 billion people without access to the much-needed vaccinations. Further, it has also been estimated by World Health Organization (WHO) that only 28% of health facilities have access to reliable electricity and which can deploy efficient cold vaccine storage within the campus. Having this cold storage capacity available will be crucial in governments’ COVID-19 vaccine distribution efforts. Such factors have forced government and various market players to expand their relationship and eradicate the problem the vaccine storage.
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For instance, in November 2022, Pan American Health Organization (PAHO) in collaboration with the government of Canada and Bureau of Public Health initiated National Immunization Program. Through this partnership, the government aims to provide the country with support for various pillars of the COVID-19 response including vaccination roll-out in keeping with the COVID-19 National Vaccination Deployment Plan. As a part of the plan, the government and PAHO has donated two pharmaceutical refrigerators and 1 freezer to BOG in January 2022.
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Market Coverage
- Segment Covered-
o By Type
o By Temperature Range
o By End-User
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- Qingdao Amed Commercial Refrigeration Equipment Co., Ltd, QINGDAO HERALD CRYOGENIC TECHNOLOGY CO., LTD, Renaissance Energy Systems, RuthurEnergy Ltd., Sundanzer, and Vestfrost Solutions, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Solar-Powered Vaccine Refrigerator Market Report Segment
By Type
- Chest Freezer
- Upright Freezer
By Temperature Range
- Low-Temperature Freezer
- Ultra-Low Temperature Freezer
By End-User
- Blood Banks
- Hospitals
- Academic & Research Institutes
- Pharmaceutical Companies
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