NEW YORK, March 27, 2024 /PRNewswire/ — The global cold chain logistics market for pharmaceuticals industry size is estimated to grow by USD 12.81 bn from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of 9.57% during the forecast period. APAC held the largest share of the global market in 2023, and the market in the region is estimated to witness an incremental growth of 35%.
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Major Players in the Market
Numerous companies are capitalizing on this growing trend by implementing strategic measures such as alliances, partnerships, mergers, and acquisitions. Among the notable players in the cheese based snacks market are:
Agility Public Warehousing Co. K.S.C.P, Air Canada, AVINEX, Burris Logistics Co., Cold Chain Technologies, Coldman Logistics Pvt. Ltd., Deutsche Post AG, DPD Deutschland GmbH, DSV AS, FedEx Corp., Helapet Ltd., Kuehne Nagel Management AG, Lineage Logistics Holdings LLC, Nichirei Corp., Orient Overseas Container Line Ltd., PCI Pharma Services, SCG Logistics Management Co. Ltd., SF Express Co. Ltd., Singhania Logistics and Distribution Pvt. Ltd., Snowman Logistics Ltd., Uber Technologies Inc., United Parcel Service Inc., VersaCold Logistics Services, XPO Inc.
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Key Market Drivers
The Pharmaceutical Industry’s growth, driven by increased drug efficiency and the rise in global life expectancy, necessitates specialized cold chain logistics services. Shipping and distribution of temperature-sensitive medicines, samples for clinical trials, and vaccines require refrigeration and adherence to regulatory frameworks. Cold chain logistics ensure the quality and shelf life of temperature-sensitive pharmaceuticals, including small molecule drugs, biosimilars, and biologic drugs. Cold warehouse space is essential for pharmaceutical exports and mass immunization programs. Developers of cold chain logistics solutions must prioritize adaptability, standards, and accreditations to cater to the cold chain market’s evolving needs. Emerging countries and novel drugs further expand the market scope. Technological developments and temperature monitoring are crucial for maintaining temperature guidelines and cold storage packaging. Government bodies and healthcare facilities rely on cold chain logistics to ensure the efficient and effective transportation of medications.
Challenges and Opportunities
The Cold Chain Logistics Market in the Pharmaceuticals Industry is a critical solution for transporting and storing temperature-sensitive Biopharmaceuticals and Clinical Trial Materials. This market caters to the needs of Hospitals & Clinics, Biotechnology Companies, and Pharmaceutical Industry players. The market offers various temperature-controlled solutions, including ambient, refrigerated, frozen, and cryogenic, ensuring drug efficiency during Shipping and Distribution. Compliance with stringent Regulatory Frameworks is essential, making refrigerated containers an important solution for Pharmaceutical Exports and Mass Immunization Programmes. Co-Pay Assistance Programs require last-mile delivery of temperature-sensitive medicines, ensuring quality and adaptability. Hubs-to-Distributor operations utilize temperature-controlled packaging to maintain shelf life and sample integrity during Clinical Trials. The Cold Chain Industry’s developers prioritize Standards and Accreditations to meet the demands of the Pharmaceutical Industry. This market’s growth is driven by the need to ensure the safety and efficacy of medicines for various diseases. Cold Warehouse Space is a significant investment for companies to maintain the required temperature conditions and extend the shelf life of their products.
The Cold Chain Logistics Market for Pharmaceuticals Industry has experienced significant growth due to the increasing demand for temperature-sensitive pharmaceuticals, including small molecule drugs, biosimilars, vaccines, biologic drugs, and novel medications. Emerging countries are investing in this sector to ensure the ideal storage and transportation conditions for these vital healthcare products. Government bodies and healthcare facilities are collaborating to establish a robust healthcare setup that adheres to temperature guidelines. Technological developments in cold storage packaging, temperature monitoring, and labeling have facilitated the efficient transportation and distribution of temperature-controlled pharmaceuticals, such as biopharmaceuticals, clinical trial materials, and vaccines. Hubs-to-distributor and last-mile delivery services have become crucial components of the cold chain logistics network. Co-pay assistance programs and regulatory frameworks are also driving the market’s growth. The market caters to various temperature requirements, including ambient, refrigerated, frozen, and cryogenic, for pharmaceuticals, medications, samples, and clinical trials. Pharmaceutical exports and mass immunization programs are significant contributors to the market’s growth. The pharmaceutical industry, hospitals & clinics, and biotechnology companies rely on the cold chain logistics market for drug efficiency, shipping, distribution, and ensuring the shelf life of temperature-sensitive pharmaceuticals.
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Market Overview
The Cold Chain Logistics Market plays a crucial role in the Pharmaceuticals Industry, ensuring the integrity and efficacy of temperature-sensitive medicines. This market involves the transportation and storage of pharmaceutical products under controlled temperatures, from manufacturing sites to distribution centers and ultimately to patients. Cold chain logistics utilizes technologies such as refrigerated containers, temperature-controlled warehouses, and real-time monitoring systems to maintain the required temperature range. The market is driven by factors like increasing demand for temperature-sensitive pharmaceuticals, stringent regulations, and growing healthcare expenditures. Major players in the cold chain logistics market for pharmaceuticals include DHL, UPS, Kuehne + Nagel, and DB Schenker. They provide services like temperature-controlled transportation, storage, and distribution, ensuring the safe and efficient movement of pharmaceutical products. The market is segmented based on temperature ranges, modes of transport, and regions. The market for pharmaceutical cold chain logistics is expected to grow significantly due to the increasing demand for biologics and vaccines, which require stringent temperature control. In conclusion, the cold chain logistics market is a vital component of the pharmaceuticals industry, ensuring the safe and efficient transportation and storage of temperature-sensitive pharmaceutical products. With the increasing demand for biologics and vaccines, the market is expected to grow significantly in the coming years.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
