According to data that Future Market Insights (FMI) has released, the pharmaceutical cold chain packaging market is expected to develop at a CAGR of 14.8% and reach US$ 60,100.9 million by 2033.
Healthcare vertical pressure for cold chain packaging for the vaccine and biopharma sectors is what drives the global market for pharmaceutical cold chain packaging. The epidemic had a positive impact on the market. It hasn’t changed since that point.
The United States International Trade Commission recommends keeping mRNA-based formulations at a temperature of 80 degrees Celsius. Five to twenty percent of vaccines are reported to be lost in transit. By highlighting the value of superior packing and storage, this could be mitigated.
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VIP (Vacuum Insulated Panels), a cutting-edge cold chain packaging insulation solution, is being recommended for better handling of temperature-sensitive pharmaceutical goods. Sofrigam claims that vacuum insulated panels can endure packing for up to two times as long as insulation materials, or 7 to 10 days.
The implementation of real-time tracking, RFID tracking, improved analytics, and related technological advancements. Additionally, apps for cloud-based data management are being developed to encourage quicker decision-making. Pharmaceutical Cold Chain Packaging Market, the most recent market report from Future Market Insights, goes into great detail on this topic. The dedicated team of consultants and analysts adopted a bottom-up approach.
Key Takeaways from Pharmaceutical Cold Chain Packaging Market
- North America holds the largest market share with the US being subject to technological advancements. The US International Trade Administration has stated that pharmaceutical cold chain packaging market has undergone drastic changes in the last few years, especially when mode of shipment changed to sea modes from air transportation. This transition could be attributed to the fact that difference in temperature results in pharmaceutical products getting deteriorated.
- Coming to Europe, Germany leads the market. As per Germany Trade and Invest (GTAI), extensive investment in research has put Germany on the top pedestal with respect to pharmaceutical cold chain packaging market. The scenario is expected to persist even in the forecast period.
- The Asia-Pacific is expected to grow at the fastest rate in the pharmaceutical cold chain packaging market in the forecast period. This could be reasoned with countries like India broadly promoting cold chain packaging in the pharmaceuticals vertical and China being one of the hubs of pharmaceuticals.
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Competitive Arena
- Sonoco Thermosafe, in August 2021, announced that it had partnered with Korean Air for leasing the latest shipping container temperature controlled ‘Pegasus ULD’.
- Pelican Products, in February 2021, began distribution of temperature-controlled cases for transportation of Covid-19.
- CSafe Global, in December 2021, completed acquisition of Softbox Systems to make provisions for a one-stop solution for various temperature-sensitive products in the biologics, gene & cell therapy, and upcoming mRNA therapies during the Covid as well as post-Covid era.
- Cold Chain Technologies, in March 2021, entered into partnership with B Medical Systems for offering end-to-end storage and shipping solutions to the life science vertical.
- Softbox Systems Ltd., in January 2018, did acquire TP3 Global to expand its presence across the globe.
“Excessive emphasis on improvement of packaging formats’ performance is expected to drive the pharmaceutical cold chain packaging market in the forecast period”, says an analyst from Future Market Insights.
Key Players:
- Sonoco ThermoSafe
- Cold Chain Technologies
- Sealed Air Corporation
- Nordic Cold Chain Solutions
- Cryopak
- CSafe Global LLC
- TemperPack Technologies, Inc.
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Pharmaceutical Cold Chain Packaging Market by CategoryBy Packaging
Format:
- Passive Packaging
- Single Use or One Way Use Packaging
- Multiple Use or Re-Usable Packaging
- Active Packaging
- Reefer Trucks and Containers
- Active Pallet Containers
By Product:
- Small Boxes
- Pallets
- Single Pallets
- Double Pallets
- Large sized Pallet Containers
By Material:
- Polymer
- Polyethylene
- Polypropylene
- PET
- EPS
- Polyurethane
- Others
- Metal
- Paper
By Application:
- Biologics and Biological Samples
- Vaccines and Diagnostics
- Others
By End-Use:
- Diagnostic Centers
- Clinical Research Organization
- Blood Banks
- Vaccines Packaging Industry
- Pharmaceuticals
- Other Healthcare Units
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
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