According to the Future Market Insights (FMI) analysis, the global temperature-controlled pharmaceutical containers market witnessed a robust CAGR of 7.2% across the historic forecast period with a market value of US$ 4.5 Bn in 2021 from US$ 2.8 Bn in 2015. The global pharmaceutical e-commerce industry is witnessing high growth due to the increase in overall demand for effective medicines.
The global temperature-controlled pharmaceutical containers market is expected to create an opulent growth opportunity over the projection period by registering an impressive CAGR of 8.5%. The global market is expected to reach a valuation of US$ 4.9 Bn in 2022 and surpass US$ 11.2 Bn by 2032. The sales of the temperature-controlled pharmaceutical containers market are anticipated to bolster with the top 3 countries estimated to hold around 35-40% of the market by the end of 2022.
In 2021, the global temperature-controlled pharmaceutical containers market is predicted to hold around 13-15% of the global pharma packaging market worth US$ 319 Bn. On the basis of region, North America and Europe, collectively, are projected to account for more than 2/3rd of the market share in 2022.
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Key Takeaways
- In order to uphold the blood or vaccines, temperature-controlled solutions are a must as per several studies and analyses. Therefore, cold chain packaging is widely utilized among pharmaceutical manufacturers to cater to the growing demand among patients and the rise of routine diseases. The design of packaging solutions is crafted in such a way that it efficiently transports medical and drug supplies all over the world.
- Furthermore, the temperature-controlled packaging is also helpful in preventing various medicines that are shipped in adherence to electromechanical temperatures with supportive logs facilitating its proper storage. New drugs and therapies have been constantly developed to spur the demand for cold chain logistics. With the extensive development of the pharma industry over the world, the demand for temperature-controlled packaging is projected to witness impressive growth over the next decade.
- The surging need for product safety, especially in the healthcare industry is attributed to the growth in the market. Temperature-controlled pharma packaging is massively utilized for shipping and packing medical supplies to extend shelf life and protect the products from harsh temperatures.
- Top pharma companies are developing pharmaceuticals that are most likely effective for uncommon diseases. The need for safe packaging of these medications is vital and is expected to bolster over the forecast period (2022-2032). Most of these medicines or drugs are sensitive to ambient temperature, and an unsuitable environment can easily affect their quality and efficacy.
- Many prominent pharmaceutical industries are depending on temperature-controlled pharmaceutical containers in order to ensure the safety of various pharmaceutical products. The life sciences sector is expected to flourish and can be tracked down to new drug development activities influencing the current strategies of pharmaceutical companies. The utilization of the latest technologies by manufacturers in the global pharmaceutical industry is helping in the production of innovative medicines and drugs.
- Technological advancements in the pharmaceutical industry are enabling the leading players to meet surging consumer demands for the latest and more effective medicines and pharmaceutical products. In addition to those recent developments in HVAC, technology is anticipated to prove extremely helpful to manufacturers to produce more efficient temperature-controlled containers.
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Competitive Landscape
Prominent market players operating in temperature-controlled pharmaceutical containers are aimed at expanding their production capabilities in order to meet the growing demand. They are also forming alliances and eyeing acquisition strategies to expand their resources.
While on the other hand, some of the other key players are developing new products in order to meet customer needs and gain a competitive advantage. Furthermore, these companies are focusing on upgrading their facilities to cater to the demand.
More Insights into the Temperature-Controlled Pharmaceutical Containers Market
India is considered the 3rd largest pharmaceutical industry in terms of volume as compared to all other countries across the globe. With surging developments in pharmaceutical manufacturing and supplying generic formulations across the globe, the demand in the temperature-controlled pharmaceutical containers market is expected to increase over the forecast period. Indian pharmaceutical industry is expected to surge at a robust CAGR of 9.5% over the assessment period from 2022 to 2032.
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Temperature Controlled Pharmaceutical Containers Market by Category
By Control Type:
- Active
- Passive
By Form:
- Chest Style
- Upright Style
By Application:
- Frozen
- Chilled
- Ambient
By Content Type:
- Vaccines/Drugs (IV)
- Samples (Blood, Biopsy, Etc.)
- Reagents
- Genetic Materials
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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