Market Overview
Factors driving this market growth include the increasing adoption of electronic health records (EHRs) and the growing trend toward preventive care. The increased use of EHRs enables hospitals and other healthcare providers to automate patient medication management, accurate inventory tracking across multiple locations, and proper pharmacy dispensing in compliance with regulatory guidelines. In addition, the rising demand for personalized care is fueling growth in the pharmaceutical supply chain segment due to a heightened focus on drug safety and quality during product launches. This increase in stringent requirements results in an increased investment requirement by pharma companies into automated technologies such as RFID tags for tracking throughout the entire distribution process from manufacturing through sale or consumption.
The global healthcare cold chain logistics market is expected to grow at a CAGR of 7.89% by 2027.
A few factors can affect the growth of the Healthcare Cold Chain Logistics industry. These include increased demand for safe and reliable medical supplies, technological advances that make logistics easier, and increasing awareness about the importance of proper cold storage for preserving medications. In addition to these external factors, there is also an impact of government regulations and policies that influence how consumers use healthcare products.
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Market Segment
The Healthcare Cold Chain Logistics industry is segmented into product type, service type, mode of delivery, temperature range, storage techniques etc.
The healthcare cold chain logistics market has been divided into biopharmaceuticals, vaccines, clinical trial materials, and others based on product type.
The healthcare cold chain logistics market is segmented into storage, transportation, packaging, and others based on services.
The healthcare cold chain logistics market has been divided into electrical refrigeration, dry ice, gel packs, and liquid nitrogen based on storage methods.
Regional Analysis
The healthcare cold chain logistics industry is predicted to be dominated by North America because of the region’s abundance of pharmaceutical firms and extensive supplier network. These beneficial factors are probably going to expand significantly in this area. Due to powerful market competitors and government initiatives for well-equipped healthcare systems, Europe and the Asia Pacific may experience growth comparable to that of North America.
Due to the rising demand for cold storage facilities, the rising adoption rate of technologically advanced facilities, and the rise in merger & acquisition activity by industry participants, Asia Pacific is predicted to grow at a CAGR of 9.1% throughout the projected period. For instance, one of the leading logistics companies specializing in integrated logistics solutions, Kuehne+Nagel, acquired Asian logistics provider Apex International Corporation in February 2021. The primary goal of this acquisition is to help the business provide clients with a compelling product, notably in high technology, e-mobility, and e-commerce fulfillment.
Industry News
The pharmaceutical industry’s cold chain logistics market has been divided into service (warehousing, VAS, and transportation) and geographic segments (APAC, North America, Europe, South America, and MEA). Most of the market share increase during the forecast period is anticipated to come from APAC. The expansion of the Asian healthcare sector, for example, has fueled this region’s growth. Additionally, this region’s market growth will outpace other regions’ markets. China is an important nation for the APAC pharmaceutical industry’s cold chain logistics market.
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