The global temperature-controlled pharma packaging solutions market is poised for substantial growth, with a projected Compound Annual Growth Rate (CAGR) of 7.8%. This trajectory is set to elevate the market’s value from US$ 4 billion in 2022 to an estimated US$ 7.4 billion by 2032. Future Market Insights (FMI) anticipates a comprehensive comparison and review analysis of this market’s dynamics, which is shaped by a range of industry factors, including the impact of stringent regulations on pharmaceutical packaging that might potentially impede growth.
Innovation has been a driving force, marked by the implementation of cutting-edge technologies for creating smart thermal boxes, showcasing the industry’s adaptability. Notably, in April 2022, Sonoco Products Company’s acquisition of Brasil Participacoes Ltd., a Brazil-based flexible packaging supplier, highlighted industry developments.
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According to FMI’s analysis, the temperature-controlled pharma packaging solutions market is anticipated to experience a growth increase of 50 basis share points (BPS) in H1-2022 compared to H1-2021. This growth projection adjustment is attributed to the market’s core function of preserving product temperature, subsequently extending shelf life.
Despite potential hurdles, the vibrant pharmaceutical industry’s rapid expansion and the emergence of novel medications and drugs continue to drive demand for temperature-controlled pharma packaging solutions. This growth trajectory aligns with the pharmaceutical sector’s unwavering need for precise and effective temperature-sensitive packaging to ensure product efficacy and safety.
Moreover, the integration of technologically advanced tools into temperature controlled pharma packaging solutions will further propel the market to grow. Due to stronger packaging regulations, the market players are focused on quality packaging as well as on compliance with the regulations. Thus, these players are utilizing cost effective and technologically advanced temperature-controlled pharma packaging solutions. Plenty of lucrative market opportunities are offered to the temperature-controlled pharma packaging solutions market due to the use of next-gen tracking technology and high insulation-based packaging solutions.
Although the target market faces healthy market prospects over the forecasted period, implementation of stringent regulations regarding the packaging of pharmaceutical goods may impede the market growth of temperature controlled pharma packaging solutions.
“This will stimulate the market prospects for temperature-controlled pharma packaging solutions over the forecast period,” says an FMI analyst.
Key Takeaways:
- Technological enhancements to increase market growth over the forecast period.
- High maintenance and investment costs may hamper market prospects.
- The temperature controlled pharma packaging solutions market in Europe is predicted to dominate the global space.
- Increasing use of temperature sensitive medical products will prompt market growth in the U.S.
- China will register a high growth rate of the target market over the assessment period.
- By product type, insulated shippers segment will lead the market growth.
Competitive Landscape
Sonoco Products Company, Pelican Biothermal, Sofrigam SA Ltd., Cryopak, Cold Chain Technologies, Envirotainer Ltd., va-Q-tec AG, Inmark Packaging, American Aerogel Corporation, and others are some of the major players in the temperature controlled pharma packaging solutions market that are profiled in the full version of the report.
Major market players are focusing on utilizing technological innovations and advancements to expand their business. These organizations are increasing their investment in research and development activities to introduce more efficient products in to the market to gain a competitive advantage.
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More Insights into the Temperature Controlled Pharma Packaging Solutions Market Report
In its latest report, FMI offers an unbiased analysis of the global temperature controlled pharma packaging solutions market, providing historical data from 2015 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and range, the market is segmented based on product (insulated shippers (panels and envelopes, EPS foam containers, fiberboards, PUR containers), insulated protective shippers, insulated containers (chest style, upright style), others (refrigerants, gel, icepacks, phase change materials, etc.), application (frozen temperature controlled pharma packaging solutions, chilled temperature controlled pharma packaging solutions, ambient temperature controlled pharma packaging solutions), and region.
According to the latest FMI reports, based on region, the temperature controlled pharma packaging solutions market in Europe will likely dominate the global arena. The target market in this region is expected to grow and develop at a rapid rate during the projected period. Escalating disease outbreaks coupled with high demand for cold storage for medical goods in the healthcare sector will drive the market growth during the assessment period.
Apart from Europe, countries like the U.S. and China are projected to exhibit impressive growth over the forecasted period. A prosperous pharmaceutical industry along with rising demand for vaccines and other temperature sensitive medical goods foster market growth in the U.S. whereas in China, the market growth is driven by extensive research and development activities on thermal packaging solutions.
Based on segmentation, on the basis of product type, the insulated shippers segment is estimated to account for the highest revenue while the chilled temperature controlled pharma packaging solutions segment will register the highest demand over the forecast period.
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Table of Content
- Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
- Market Overview
2.1. Market Coverage
2.2. Market Definition
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient 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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