Now the COVID-19 vaccines have finally arrived, countries of the world and manufacturers are faced with the challenge of vaccine distribution. One difficulty facing shipping is that most of the vaccines developed require extremely low-temperature storage which has led to a global shortage in ultra-low temperature medical freezers. The uniquely low temperature of -70 C required by the Pzifer and BioNTech vaccines means many of the freezers currently used are modified versions of existing freezer stock.

With these freezers more or less becoming a necessity there is upwards of $20bn worth of vaccine storage business for manufacturers to potentially benefit from. Among the heavy hitters of the market, we find Panasonic. Last week, Thursday, they unveiled a new freezer designed specifically for the ultra-low temperatures required for the vaccines. The market responded well to this with Panasonic share jumping 8.4% over the weekend after the reveal.