(USA, NY, New York City) The global healthcare cold chain logistics market is on track to witness high growth during the upcoming assessment period. This projection has been made by Market Research Future in its latest report. Healthcare has been receiving increasing focus on a global scale, and the growth of the healthcare sector has directly influenced the growth of healthcare cold chain logistics.
The global healthcare cold chain logistics market is expected to cross USD 22,024.66 million by 2027 at a 7.89?GR.
Across the globe, particularly in emerging economies, the healthcare sector has been growing at a considerable rate. Ongoing intensive research & development activities, as well as the growth of the biomedical field and drug discovery, has increased the demand for biopharmaceuticals and vaccines. Proper storage for these necessary to maintain quality and shelf life, thus driving the growth of healthcare cold chain logistics. Notably, the rising demand and promise of personalized medicine heavily rely on cold chain logistics for efficiency. Moreover, the pharmaceutical sector is focusing on drug discovery which is increasingly making use of small molecules as well as the use of temperature-sensitive pharmaceutical ingredients which drive the growth of the market. Moreover, government bodies across the world are setting up standards with regards to temperature and transport of pharmaceuticals and strict regulations have been passed for the same.
The market is expected to witness growth opportunities from emerging economies during the forecast period. Developing countries such as India have tropical climates which require cold chain logistics to maintain efficacy of transported materials.
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The global Healthcare Cold Chain Logistics Market comprises a host of key players. This includes names like Medline Industries Inc. (US), Cook (US), Teleflex (US), B. Braun Melsungen AG (Germany), Coloplast Ltd (Denmark), and Medtronic (Republic of Ireland).
The segmental investigation of the healthcare cold chain logistic market is carried out on the basis of product type, storage technique, services, end user and region. The end-user segment of the healthcare cold chain logistic market consists of hospitals and clinics, biopharmaceutical companies and research institutes. The product type segment of the healthcare cold chain logistic market consists of biopharmaceuticals, vaccines, and clinical trial materials. The services segment of the healthcare cold chain logistic market consists of storage, packaging, and transportation. The storage techniques segment of the healthcare cold chain logistic market consists of electrical refrigeration, dry ice, liquid nitrogen, and gel packs. The region segment of the healthcare cold chain logistic market consists of Europe, Asia Pacific, North America, Africa and the Middle East.
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The five key geographies considered in the market study are Europe, Latin America, the Middle East & Africa/MEA) APAC/Asia Pacific along with North America.
The APAC market is the currently the leader and is the top consumer of healthcare cold chain logistics. Thanks to the rapid economic growth, rising trade of temperature-sensitive pharma items, escalating industrialization rate, and the extensive rollout of warehouse and transportation networks, particularly in India and China, the market attractiveness is bound to grow further in the coming years. Another important growth inducer can be the rising innovations in connected devices technologies including IoT/Internet of Things and RFID/ Radio Frequency Identification combined with the soaring demand for intelligent sensors.
North America is another important market, thanks to the massive investments that go in cold chain services and solutions along with the rising demand for vaccines and biopharmaceutical products. Also, the high requirement for refrigeration across the pharmaceutical industry could benefit the North American market. The United States heads the regional market, as a result of the well-developed pharmaceutical industry and the growth in the different types of drugs that need controlled room temperature.
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