Numerous vaccine formulations developed around the world are greatly reliant on the maintenance of the right range of temperature to sustain their efficacy in preventing ailments. However, poor storage and transport infrastructure for vaccines, especially for small batches are major reasons behind the failure of vaccines leading to illnesses and deaths around the globe.
Consequently, isothermal boxes are rapidly gaining popularity, owing to their ability to maintain cool temperatures despite the difference in sizes. In addition, using isothermal boxes for storing vaccines requires minimal specialized skills, and is fairly convenient to use. Isothermal boxes are passive container systems that make use of compatible coolant packs and thermally insulated lids. The coolant packs are suitable for cooling, warming, freezing, and conditioning to accurate temperatures, that the relevant vaccine needs.
Strong support by governments and public or private organizations is a major factor that is encouraging the production and adoption of isothermal boxes for the storage and transport of vaccines. Other major influencers that have the potential to affect the market can include factors such as:
- Isothermal boxes are estimated to witness increased use for vaccines in the near future, attributable to the high demand for economically feasible cold supply chain solutions for the end stage transport of vaccines. The small sizes of isothermal boxes make them very portable and allow them to carried about by a single individual. This characteristic makes these boxes very popular for the transport of vaccines to stores, healthcare centers, or outreach sessions.
- On the other hand, the global market for isothermal boxes for vaccines is expected to be challenged by the poor management practices in terms of supply chain, which includes the usage of incompatible coolant packs, usage of the wrong size and dimensions of isothermal boxes, and more, which are anticipated to result in a hampered growth rate in the market for the foreseeable future.
- The Asia Pacific region is projected to display a relatively higher rate of growth owing to high rates of urbanization and increases in income levels in these regions in recent years.
Future Market Insights (FMI) delivers key insights on the global isothermal boxes for vaccines market in its published report titled “Global Isothermal Boxes for Vaccines Market: Industry Analysis and Opportunity Assessment, 2018–2028”. In terms of revenue, the global isothermal boxes for vaccines market is estimated to grow at a CAGR of 6.8% during the forecast period, owing to numerous factors, about which FMI offers thorough insights and forecasts in this report.
Isothermal boxes for vaccines are passive carriers majorly used to aid last-mile reach of vaccines from healthcare facilities to outreach sessions. Cold boxes and small vaccine carriers are products used to keep vaccines cool during transportation. In this report, the superset of cold boxes and vaccine carriers has been considered as isothermal boxes for vaccines. Vaccine carriers are the same as cold boxes, except that have a relatively smaller volume. Since both short range and long range vaccine carriers have a lower capacity as compared to short range cold boxes, they have been considered in the capacity category of less than 5 litres.
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Isothermal Boxes for Vaccines Market: Segmental Analysis & Forecast
The market has been segmented on the basis of materials, product type, and region. The various materials considered in this report include Polypropylene (PP), Polystyrene foam (PS), Polyurethane (PU), Polyethylene (PE) and other plastics. The others segment includes plastics such as PVC that are rarely used in isothermal boxes.
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By product type, the market has been segmented as short range isothermal boxes for vaccines and long range isothermal boxes for vaccines. The short range isothermal boxes for vaccines segment has further been subdivided into three categories: less than 5 litres, 5 – 15 litres and 15 – 25 litres. The long range isothermal boxes for vaccines segment has been sub-divided into the following two categories: 5 – 15 litres and 15 – 25 litres. The study has been divided into seven key regions – North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan (APEJ), Middle East & Africa (MEA) and Japan. It is to be noted that any cold chain product with a vaccine storage capacity of more than 25 litres have not been considered in this market assessment report.
Isothermal Boxes for Vaccines Market: Regional Analysis & Forecast
By region, the Asia Pacific isothermal boxes for vaccines market is anticipated to register the highest CAGR in terms of value growth, which is projected to be above 9% during the forecast period. In terms of volume, the APEJ isothermal boxes for vaccines market is projected to account for more than 50% of the global market by the end of 2028. The vaccine market itself is highly organized. About 80% of the global vaccine sales are sourced from five large multi-national corporations. High Income Countries (HICs) account for around 82% of the overall global vaccine sales. However, in terms of volume of vaccines, they account for only 20% of the market. The North America isothermal boxes for vaccines market includes a country-level analysis for the U.S. and Canada. The U.S. isothermal boxes for vaccines market is projected to grow at a CAGR of 5.1% during the forecast period.