Published: December 2023
According to a recently published report by Roots Analysis, the growing demand for biologics and the necessity for their transportation using cold chain container / shipper products is driving the cold chain for pharmaceuticals market growth
The global cold chain market for pharmaceuticals is anticipated to grow at a CAGR of 3.8% from 2023-2035, reaching USD 9.6 billion by 2035.
The conventional cold chain process is fraught with several challenges, including high cost of implementation, lack of regulatory guidelines, and complexities involved in the installation and monitoring of cold chain monitoring solutions. In order to deal with the aforementioned challenges, a number of pharmaceutical companies prefer to either install cold chain systems with advanced technologies in their manufacturing facility or outsource their cold chain requirements to specialized service providers. Further, owing to the development of advanced packaging solutions focused on sustainable approaches and technological breakthroughs enabling real-time monitoring of packaged products during shipment, the reliability on cold chain is anticipated to growth significantly. Therefore, the cold chain domain is anticipated to evolve rapidly in the coming decade.
Browse 145+ figures and 130+ market data tables spread across 250+ pages and detailed Table of Content on “Cold Chain Market for Pharmaceuticals by Type of Primary Packaging, Type of Secondary Packaging, Type of Usability, and Key Geographical Regions: Industry Trends and Global Forecasts, 2023-2035” here: https://www.rootsanalysis.com/reports/cold-chain-market.html
Several factors are propelling the growth of the cold chain market for pharmaceuticals. The increased approval of biologics is an important factor that is expected to impact the future growth and adoption of cold chain in the pharmaceutical industry. This can be attributed to the fact that every third drug approved is a biologic, of which, more than 85% require cold chain management. The 2019 Biopharma Cold Chain Sourcebook estimated that by 2023, approval of temperature-controlled pharmaceuticals would increase by 59 percent from 2017 figures. Further, the demand for temperature-controlled vaccines generated during the COVID-19 pandemic has accentuated the need for reliable cold chain packaging and transportation systems. Hence, the market is poised for substantial growth.
Market restraints are the factors or conditions that can impede the growth and progress of a market. While the cold chain packaging market is experiencing substantial growth, it is not without its challenges. One of the primary restraints is the high cost of implementation. Unlike normal supply chains, cold chain requires the installation of real-time monitoring systems owing to the highly sensitive nature of the transportation goods. Moreover, installation of high-throughput temperature sensors, monitoring devices and specialized equipment (such as active and passive containers) also adds to the overall cost of the procedure. This, coupled with the complexity of maintaining temperature integrity pose as as a potential restriction to the future adoption of cold chain packaging solutions.
Despite the challenges, several growth factors continue to drive the cold chain market for pharmaceuticals forward. With the rapidly increasing demand for pharmaceuticals and biologics, several researchers are utilizing cold chain as a potential technology for maintaining the quality of different molecules, such as APIs, vaccines, and cell and gene therapies. This is indicative of the rising popularity of cold chain operations, offering wide opportunities to service providers and other stakeholders involved in this industry. Further, given the rising recognition of sustainable cold chain packing solutions as a promising alternative for addressing the challenges with the carbon footprint of conventional cold chain shippers / containers, the requirement for advanced, recyclable and reusable cold chain packaging solutions is anticipated to grow.
The cold chain market for pharmaceuticals report also includes detailed profiles of key players (listed below) that offer cold chain containers / shippers:
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Roots Analysis is a global leader in the pharma / biotech market research. Having worked with over 750 clients worldwide, including Fortune 500 companies, start-ups, academia, venture capitalists and strategic investors for more than a decade, we offer a highly analytical / data-driven perspective to a network of over 450,000 senior industry stakeholders looking for credible market insights. All reports provided by us are structured in a way that enables the reader to develop a thorough perspective on the given subject. Apart from writing reports on identified areas, we provide bespoke research / consulting services dedicated to serve our clients in the best possible way.
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