Pharmaceutical Cold Chain Packaging Market Soars: Projected CAGR of 14.8% by 2033 | FMI

Recently unveiled statistics from Future Market Insights (FMI) indicate a robust trajectory for the global pharmaceutical cold chain packaging market, projecting a noteworthy Compound Annual Growth Rate (CAGR) of 14.8% and an estimated valuation of US$ 60,100.9 million by 2033. The report highlights polymers as the predominant choice for packaging material, set to command a substantial 62.1% of the global market share in 2023. This trend is poised to generate an incremental opportunity of US$ 37.3 billion through 2033, signifying the increasing significance of polymer-based solutions in meeting the evolving needs of the pharmaceutical cold chain packaging sector.

Market growth in pharmaceutical cold-chain packaging is being driven by real-time tracking, radio frequency identification (RFID) tagging, and the integration of cutting-edge technologies. The landscape is undergoing a transformation with the incorporation of advanced technologies like the Internet of Things (IoT), blockchain, advanced analytics, and integrated customer applications. These technological advancements are reshaping the dynamics of the pharmaceutical cold-chain packaging market, enhancing efficiency, transparency, and overall operational capabilities. The industry’s embrace of these innovations underscores a commitment to ensuring the integrity and safety of pharmaceutical products throughout the cold chain, thereby meeting the evolving needs and expectations of the pharmaceutical sector.

Request Sample: https://www.futuremarketinsights.com/reports/sample/rep-gb-13956

Advanced cold chain packaging insulation solutions like VIP (Vacuum Insulated Panels) are being proposed for better handling temperature-sensitive pharmaceutical products. Sofrigam states that vacuum insulated panels are capable of providing packaging support of 7-10 days, or even twice or thrice the insulation materials.

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.

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.

Request Customization: https://www.futuremarketinsights.com/customization-available/rep-gb-13956

The Top Key Players Are:

• Sonoco ThermoSafe
• Cold Chain Technologies
• Sealed Air Corporation
• Nordic Cold Chain Solutions
• Cryopak
• CSafe Global LLC
• TemperPack Technologies, Inc.
• Insulated Product Corp.
• Global Cooling, Inc.
• Envirotainer AB
• va-Q-tec AG
• EMBALL’ISO
• Softbox Systems
• Sofrigam SAS
• DGP Intelsius LLC
• Tempack Packaging Solutions SL
• others

Market Drivers:

1. Growth in Biopharmaceuticals: The increasing demand for biopharmaceuticals, including vaccines, antibodies, and other temperature-sensitive drugs, has been a significant driver for the pharmaceutical cold chain packaging market. Many of these products require strict temperature control to maintain their efficacy.
2. Rising Global Healthcare Expenditure: As global healthcare expenditure continues to rise, particularly in emerging markets, there is an increased focus on improving healthcare infrastructure, including the logistics and distribution of pharmaceuticals. This contributes to the demand for advanced cold chain packaging solutions.
3. Stringent Regulatory Standards: Regulatory bodies, such as the FDA and EMA, have implemented strict guidelines for the storage and transportation of pharmaceutical products. Compliance with these regulations is a key driver for the adoption of advanced cold chain packaging solutions to ensure the integrity and safety of medications.
4. Increasing Incidence of Chronic Diseases: The growing prevalence of chronic diseases worldwide has led to an increased demand for temperature-sensitive medications. This, in turn, drives the need for reliable cold chain packaging to maintain the efficacy of these drugs throughout the supply chain.

Market Restraints:

1. High Initial Costs: Implementing advanced cold chain packaging solutions can involve substantial upfront costs, including the purchase of specialized packaging materials, temperature-monitoring devices, and refrigeration systems. This may be a barrier for some companies, especially smaller ones.
2. Technological Complexity: The implementation and management of sophisticated cold chain packaging systems can be technically challenging. Companies may face difficulties in integrating these systems into their existing supply chain infrastructure, leading to potential operational disruptions.
3. Lack of Standardization: The absence of standardized guidelines for cold chain packaging across regions and countries can pose challenges. Divergent regulatory requirements and industry standards may result in a fragmented approach to cold chain logistics, hindering interoperability and efficiency.
4. Environmental Concerns: The use of certain packaging materials and refrigerants in cold chain packaging can have environmental implications. As sustainability becomes a more significant concern, pharmaceutical companies may face pressure to adopt eco-friendly packaging solutions, which could impact the market dynamics.

Buy Now/Purchase: https://www.futuremarketinsights.com/checkout/13956

Pharmaceutical Cold Chain Packaging Market by Category

By Packaging Format:

• Passive Packaging
  • Single-use or One-way Use Packaging
  • Multiple Use or Reusable 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
• The Middle East and Africa

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.

Contact Us:        

Nandini Singh Sawlani  

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube