05-29-2021 01:31 AM CET | IT, New Media & Software
Companies in the Vaccine Management Solution Market are facing issues in keeping their production facilities fully functional due to shortage of staff and resources amidst the COVID-19 (Coronavirus) outbreak.
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The global vaccine management solution market was valued at over US$ 140 million in 2019, and is anticipated to reach nearly US$ 590 million by 2030. The spread of COVID-19 has brought about a rise in demand for vaccine management solutions. The pandemic has led to additional gain of US$ 5 million in 2020, and the same is expected to follow in 2021.
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However, as the years go by, when most buyers had purchased these vaccine management solutions, companies in this space will gain revenue only through license renewal, and this is when market growth won’t be as high as it is now.
Key Takeaways from Vaccine Management Solution Market Study
o North America is dominating the global vaccine management solution market with a share of around 35% in 2019, primary reason being, well-established ICT (information, communication & technology) companies in the region.
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o The vaccine management solution market in excepted to experience the highest CAGR in the Middle East & Africa and Latin America. This is because active international organizations support a complete global vaccine action plan.
o The global market is projected to surge at an impressive CAGR of over 17% through 2030.
o The COVID-19 pandemic is one of the main factors causing an increase in demand for vaccine management solutions, globally. Focus of governments on improving digital infrastructure is another reason assisting the growth of the vaccine management solution market.
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“A large share of the vaccine management solution market is managed by government organizations. Companies can focus on covering countries having insufficient resources to cover immunization programs,” says a Fact.MR analyst.
Product Launches to Enhance Market Resiliency
Key players operating in the vaccine management solution market space are Deloitte, Infosys, Salesforce, Conduent, UL, Omnisys, and PreCheck.
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Some of the recent product launches include:
o Owing to opportunity provided by the COVID-19 pandemic, Infosys recently acquired Utah-based company Simplus, which is providing vaccine management solutions.
o Omnisys’ OmniLINK vaccine management solution (VMS), launched in 2020, particularly focuses on pharmacy-administered immunizations.
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o Following the COVID-19 pandemic, Epazz launched numerous solutions in 2020. Some of them are vaccine management solutions, social distancing featured software, video interviewing, featured applicant tracking systems, etc.
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