Reports
Reports
Sale
The South Korea vaccine refrigerator market reached a value of approximately USD 32.80 million in 2023. The market is projected to grow at a CAGR of 4.8 % between 2024 and 2032, reaching a value of around USD 49.94 million by 2032.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
Vaccine refrigerator comprises various products including vaccine under-counter refrigerators, vaccine stainless steel refrigerators, vaccine dual temperature refrigerators, and solar vaccine refrigerators. Various innovations including the integration of the Internet of Things (IoT) and artificial intelligence (AI) facilitate predictive maintenance, automatic temperature regulation, and data-driven enhancement of vaccine storage conditions.
Further, the use of advanced insulation materials improves temperature consistency and reduces heat transfer, ensuring the integrity of vaccines during storage and transit. Professionals with expertise in regulatory compliance navigate the complex requirements governing vaccine storage and transportation, guaranteeing that vaccine refrigerators adhere to essential standards and certifications for market authorization.
As per MOHW, the Republic of Korea, the pharmaceutical industry aims to increase high-quality employment opportunities from 120,000 in 2021 to 150,000 by 2027.
Emphasis on cold chain management, data logging and remote monitoring, technological advancements, and the growth of vaccination initiatives are the major trends impacting the South Korea vaccine refrigerator market growth.
January 22, 2023
Carrier Global Corp.'s joint venture in South Korea aimed to boost sales by prioritising the cold chain sector. This sector involved processes and equipment that maintained products at specified low temperatures from production to consumption.
January 18, 2024
Glad Alliance developed safer refrigerator systems with integrated anti-blackout and automatic alarm systems, along with double-locking doors. Their collaboration with Korean automation manufacturers aimed to advance healthcare facilities towards highly automated environments.
December 2022
The DAIHAN® ULT Freezer has established a cold chain infrastructure for COVID-19 vaccines in South Korea. Its DuoFreez™ technology, featuring an independent dual compressor freezing system, ensures the essential functions of ULT freezers, including high stability and resilience.
January 28, 2021
Winia Dimchae, a kimchi storage manufacturer, partnered with its affiliate, Dayou Plus, to create an ultra-low temperature freezer for vaccine storage. The Medibox freezer, compact with a 90-litre capacity, stored 18,000 vaccine doses.
Emphasis on Cold Chain Management
Growing emphasis on maintaining the integrity of the vaccine cold chain, from manufacturing facilities to vaccination sites, underscores the importance of high-quality vaccine refrigeration equipment capable of preserving vaccine efficacy throughout the supply chain.
Data logging and remote monitoring
Incorporating remote monitoring and data logging features in vaccine refrigerators enables healthcare providers to monitor temperature conditions in real-time, ensuring ideal storage conditions and facilitating prompt action in case of temperature fluctuations.
Technological advancements
Continual advancements in vaccine refrigeration technology, including the refinement of temperature control systems, enhancement of insulation materials, and implementation of energy-efficient cooling mechanisms, improve the effectiveness and dependability of vaccine refrigerators.
The growth of vaccination initiatives
The expansion of vaccination programs, encompassing routine immunization schedules and mass vaccination campaigns, boosts the demand for dependable and efficient vaccine storage solutions, thereby driving market growth.
Increasing emphasis on sustainability drives the demand for eco-friendly vaccine refrigerators powered by renewable energy sources like solar panels. These sustainable solutions align with global efforts to reduce carbon footprints and promote environmental conservation.
The growing demand for specialized vaccine storage solutions tailored to specific vaccine types and storage requirements drives the development of customisable refrigeration systems, catering to the diverse needs of healthcare facilities and pharmaceutical companies.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
South Korea Vaccine Refrigerator Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Product
Market Breakup by End User
Vaccine stainless steel refrigerators contribute to the South Korea vaccine refrigerator market growth as they typically adhere to rigorous regulatory standards for vaccine storage, offering reassurance to healthcare professionals and regulatory authorities regarding the safety and quality of vaccines stored within.
Many vaccines stainless steel refrigerators are equipped with advanced features such as temperature monitoring, and data logging capabilities which help healthcare providers ensure proper storage conditions and respond promptly to any deviations.
Solar vaccine refrigerators eliminate the need for traditional power sources, such as electricity or fuel, reducing operational costs in the long run. They provide a backup solution during power outages, ensuring uninterrupted vaccine storage and minimizing the risk of vaccine spoilage.
Hospital drives growth in the South Korea vaccine refrigerator market share by prioritizing vaccination as part of preventive care strategies, necessitating adequate storage capacity for vaccines.
With the expansion of vaccination programs, hospitals require reliable and efficient vaccine storage solutions, leading to an increased demand for vaccine refrigerators. Moreover, hospitals are prioritising investment in innovative solutions to optimise vaccine storage conditions and enhance patient care outcomes.
Pharmaceutical companies invest in the development of new vaccines and biologics, leading to an increased demand for specialized vaccine refrigeration equipment. Moreover, pharmaceutical companies are investing in advanced vaccine refrigerators equipped with temperature monitoring and alarm systems to ensure compliance with cold chain requirements.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
The companies produce and offer products including low-temperature storage equipment, refrigerators, specialized medical and laboratory equipment and others to hospitals, blood banks and others.
WINIA Electronics Co., Ltd.: Established in 1974 and is headquartered in Gwangju, Republic of Korea. The company offers products including refrigerators, washing machines, kitchen appliances, air conditioners, TVs, and small appliances.
PHC Holdings Corporation: Founded in 2014 and is a Chiyoda-ku, Tokyo-based company. The company offers diabetes management products and services, healthcare solutions, diagnostics, and life sciences solutions utilized by patients, healthcare professionals, and researchers across more than 125 nations.
Haier Biomedical: Established in 2005 and is headquartered in Qingdao, Shandong. The company focuses on the research & development, manufacturing, and sales of low-temperature storage equipment for biomedical samples.
Helmer Scientific Inc.: Founded in 1977 and is headquartered in Noblesville, Indiana. The company designs, integrates, manufactures, markets, and distributes specialized medical and laboratory equipment to clinical and life science clients in more than 125 countries.
Other South Korea vaccine refrigerator market key players are Dometic Group AB, and Thermo Fisher Scientific Holdings, Inc., among others.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2017-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
Breakup by Product |
|
Breakup by End User |
|
Market Dynamics |
|
Competitive Landscape |
|
Companies Covered |
|
South Korea Vaccine Refrigerator Market Size
South Korea Vaccine Refrigerator Market Growth
South Korea Vaccine Refrigerator Market Trends
South Korea Vaccine Refrigerator Market Share
South Korea Vaccine Refrigerator Manufacturers
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Industry Opportunities and Challenges
8 South Korea Vaccine Refrigerator Market Analysis
8.1 Key Industry Highlights
8.2 South Korea Vaccine Refrigerator Historical Market (2017-2023)
8.3 South Korea Vaccine Refrigerator Market Forecast (2024-2032)
8.4 South Korea Vaccine Refrigerator Market by Product
8.4.1 Vaccine Stainless Steel Refrigerators
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2017-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Vaccine Under Counter Refrigerators
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2017-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.3 Vaccine Dual Temperature Refrigerators
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2017-2023)
8.4.3.3 Forecast Trend (2024-2032)
8.4.4 Solar Vaccine Refrigerators
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2017-2023)
8.4.4.3 Forecast Trend (2024-2032)
8.5 South Korea Vaccine Refrigerator Market by End User
8.5.1 Pharmaceutical Companies
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2017-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Hospitals
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2017-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.5.3 Blood Banks
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2017-2023)
8.5.3.3 Forecast Trend (2024-2032)
8.5.4 Academic and Research Institutes
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2017-2023)
8.5.4.3 Forecast Trend (2024-2032)
9 Market Dynamics
9.1 SWOT Analysis
9.1.1 Strengths
9.1.2 Weaknesses
9.1.3 Opportunities
9.1.4 Threats
9.2 Porter’s Five Forces Analysis
9.2.1 Supplier’s Power
9.2.2 Buyer’s Power
9.2.3 Threat of New Entrants
9.2.4 Degree of Rivalry
9.2.5 Threat of Substitutes
9.3 Key Indicators for Demand
9.4 Key Indicators for Price
10 Competitive Landscape
10.1 Market Structure
10.2 Company Profiles
10.2.1 WINIA Electronics Co., Ltd.
10.2.1.1 Company Overview
10.2.1.2 Product Portfolio
10.2.1.3 Demographic Reach and Achievements
10.2.1.4 Certifications
10.2.2 PHC Holdings Corporation
10.2.2.1 Company Overview
10.2.2.2 Product Portfolio
10.2.2.3 Demographic Reach and Achievements
10.2.2.4 Certifications
10.2.3 Dometic Group AB
10.2.3.1 Company Overview
10.2.3.2 Product Portfolio
10.2.3.3 Demographic Reach and Achievements
10.2.3.4 Certifications
10.2.4 Helmer Scientific Inc.
10.2.4.1 Company Overview
10.2.4.2 Product Portfolio
10.2.4.3 Demographic Reach and Achievements
10.2.4.4 Certifications
10.2.5 Haier Biomedical
10.2.5.1 Company Overview
10.2.5.2 Product Portfolio
10.2.5.3 Demographic Reach and Achievements
10.2.5.4 Certifications
10.2.6 Thermo Fisher Scientific Holdings, Inc.
10.2.6.1 Company Overview
10.2.6.2 Product Portfolio
10.2.6.3 Demographic Reach and Achievements
10.2.6.4 Certifications
11 Key Trends and Developments in the Market
List of Key Figures and Tables
1. South Korea Vaccine Refrigerator Market: Key Industry Highlights, 2017 and 2032
2. South Korea Vaccine Refrigerator Historical Market: Breakup by Product (USD Million), 2017-2023
3. South Korea Vaccine Refrigerator Market Forecast: Breakup by Product (USD Million), 2024-2032
4. South Korea Vaccine Refrigerator Historical Market: Breakup by End User (USD Million), 2017-2023
5. South Korea Vaccine Refrigerator Market Forecast: Breakup by End User (USD Million), 2024-2032
6. South Korea Vaccine Refrigerator Market Structure
The market was valued at USD 32.80 million in 2023.
The market is projected to grow at a CAGR of 4.8% between 2024 and 2032.
The revenue generated from the South Korea vaccine refrigerator market is expected to reach USD 49.94 million in 2032.
The market is categorised according to the product, which includes vaccine stainless steel refrigerators, vaccine under counter refrigerators, vaccine dual temperature refrigerators, and solar vaccine refrigerators.
The market key players are WINIA Electronics Co., Ltd., PHC Holdings Corporation, Helmer Scientific Inc., Haier Biomedical, Dometic Group AB, and Thermo Fisher Scientific Holdings, Inc., among others.
Based on the end-use, the market is divided into pharmaceutical companies, hospitals, blood banks, and academic and research institutes.
Datasheet
Single User License
Five User License
Corporate License
Any Question? Speak With An Analyst
View A Sample
Did You Miss Anything, Ask Now
Right People
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
Right Methodology
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
Right Price
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Right Support
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.