According to a recent market analysis published by Future Market Insights (FMI), the pharmaceutical cold chain packaging market is projected to experience a significant growth rate, with a compound annual growth rate (CAGR) of 14.8%. By 2033, it is estimated that the market will reach a value of US$ 60,100.9 million. The driving force behind this growth is the increasing demand for cold chain packaging in the healthcare sector, particularly in the vaccine and biopharmaceutical industries. The market has thrived since the onset of the pandemic and continues to show positive momentum.
The storage requirements for mRNA-based formulations necessitate extremely low temperatures of around -80 degrees Celsius, as indicated by the United States International Trade Commission. It is well-known that a significant percentage of vaccines, ranging from 5% to 20%, are lost during transportation. However, the emphasis on superior packaging and storage can help mitigate these losses.
To enhance the handling of temperature-sensitive pharmaceutical products, advanced insulation solutions for cold chain packaging, such as Vacuum Insulated Panels (VIP), are being recommended. According to Sofrigam, vacuum insulated panels have the capability to maintain the required temperature for 7-10 days, which is twice as long as traditional insulation materials.
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In addition, the industry is implementing various technological advancements, including real-time tracking, RFID tracking, enhanced analytics, and cloud-based data management applications. These innovations aim to improve supply chain visibility and facilitate faster decision-making processes.
Future Market Insights’ market analysis report, titled “Pharmaceutical Cold Chain Packaging Market,” provides comprehensive insights into these developments. The report was developed by a dedicated team of analysts and consultants who adopted a bottom-up approach to gather and analyze the data.
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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Market Benefits
- The study provides an in-depth analysis of the global pharmaceutical cold chain packaging market along with the current trends and future estimations to elucidate the imminent investment pockets.
- The key market players along with their strategies are thoroughly analyzed to understand the competitive outlook of the industry.
- An extensive analysis of the market based on application assists in understanding the trends in the industry.
- The report presents a quantitative analysis of the market from 2023 to 2033 to enable stakeholders to capitalize on the prevailing market opportunities.
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.
Global Pharmaceutical Cold Chain Packaging Market: Key Growth Opportunities Across Major Regions
The pharmaceutical cold chain packaging market is experiencing significant growth across various regions, presenting lucrative opportunities for industry players. Here’s a brief overview of key growth prospects in major regions:
- United States: Thriving Market with Supportive Business Environment The United States, home to leading pharmaceutical organizations, offers a supportive business environment with minimal market barriers. The presence of renowned pharmaceutical companies contributes to the growth of the pharmaceutical cold chain market. Technological advancements and innovation in cold chain packaging further aid market expansion. The market in the US is projected to grow at an exceptional CAGR of over 12.3% through 2033.
- Germany: Leading Pharmaceutical Market in Europe Germany, the leading pharmaceutical market in Europe, invests a significant portion of revenue in research and development. The country has emerged as a key producer of cutting-edge innovative products. Germany holds the leading share in the European cold chain packaging market, with sales expected to rise at a CAGR of nearly 10.9% during the forecast period.
- India: Flourishing Market in South Asia India’s pharmaceutical cold chain packaging market is expected to witness enormous growth, exhibiting a growth rate of 14.7% during the projection period. Despite the COVID-19 outbreak, the market observed positive growth, driven by developments in the cold chain process and improved infrastructure. Favorable government policies and schemes aimed at promoting cold chain logistics have attracted leading pharmaceutical manufacturers to tap into India’s logistics and delivery market.
- China: Asian Hub for Manufacturing and Supply Chains China, known as the Asian hub for manufacturing and supply chains, has seen rapid growth in the pharmaceutical cold chain packaging market. The country’s large customer base, low shipping costs, and a vast vendor base make it attractive to investors and pharmaceutical manufacturing companies. Consumers’ preference for better healthcare and safety, along with improved pharmaceutical packaging, contributes to the growth of the cold chain market in China. The market is expected to exhibit a higher growth rate of nearly 17.8% in East Asia by 2033
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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)
About Us:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years
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