The global healthcare cold chain logistics market is mainly driven by the growing transportation of temperature-sensitive pharmaceutical products via cold chain logistics and the growing demand for biopharmaceutical products. In addition, an increasing number of clinical trials further boosts market growth. However, factors such as failure to comply with the regulatory standards and difficulty accessing different markets are restraining the growth of the healthcare cold chain logistics market.
The global healthcare cold chain logistics market is expected to cross USD 22,024.66 million by 2027 at a 7.89% CAGR. A variety of modern pharmaceutical products requires a controlled environment to maintain potency, making the cold chain extremely important. However, being a sophisticated and elaborated process, cold chain penetration is moderate, especially in developing regions. Factors such as lack of proper infrastructure and poor regulatory framework in third-world countries are partly hampering the growth potential of the market. Governments in some of the fast-developing countries such as China, India, and Japan are taking corrective measures to improve cold chain logistics services in healthcare.
MRFR recognizes the following companies as the key players in the global pharmaceutical cold chain logistics companies– Sterling Ultracold (US), FedEx (US), Phoenix Group (UK), Sonoco Thermosafe (US), B Medical Systems (Luxembourg), Cavalier Logistics (US), Cardinal Health (US), Amerisource Bergen (UK), Envirotainer (Sweden), Thermoking (US.
The global healthcare cold chain logistics market has been divided based on product, services, mode of delivery, temperature range, storage techniques range, and end user.
- Based on product, has been segregated into vaccines, biopharmaceuticals, clinical trial materials, and others.
- Based on services, the global market is divided into transportation, storage, packaging, labeling, and others.
- Based on mode of delivery, the global market is bifurcated into last-mile delivery and hubs-to-distributor.
- Based on temperature range, the global market is segmented into ambient, refrigerated, frozen, and cryogenic.
- Based on Storage techniques range, the global market is segmented into electrical refrigeration, dry ice, gel packs, liquid nitrogen, and others.
- Based on End user, the global market is divided into hospitals & clinics, pharmaceutical, biopharmaceutical, & biotechnology companies, and others.
The healthcare cold chain logistics market, by region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
The Americas is expected to dominate with the largest market share due to the increasing number of refrigerated warehouses, availability of required infrastructure, and availability of skilled labor. The rising development of specialty drugs in the US majority of which requires cold chains, is likely to propel market growth.
The Europe held a significant share in the healthcare cold chain logistics market. Most of the European companies operating in the cold chain logistics industry are adopting automation in cold storage warehouses at a rapid pace. Western Europe also plays a significant role in propelling the European healthcare cold chain logistics market.
Asia-Pacific is expected to be the fastest-growing market in healthcare cold chain logistics, mainly due to technological advancements in medical devices and equipment such as healthcare cold chain logistics for effective treatment of patients suffering from chronic disease drives the demand for healthcare cold chain logistics in these countries. Thus, the increasing adoption of healthcare cold chain logistics is anticipated to boost the market growth.
The healthcare cold chain logistics market in Middle East & Africa is growing dramatically. The Middle East is anticipated to dominate the overall regional market owing to the presence of rapidly developing countries such as the UAE and Saudi Arabia. However, in Africa, the lack of infrastructure for cold chain logistics may hamper the market. Frequent power outages, along with poor cold chain equipment and data monitoring, are the key factors restricting the transportation of vaccines to remote populations in Africa.
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