The healthcare cold chain monitoring market is expected to witness vast growth. According to Market Research Future (MRFR), the healthcare cold chain monitoring market is poised to grow from USD 2.1 BN in 2022 to USD 5.92 BN by 2032, growing at a 12.20% CAGR throughout the assessment period (2023-2032).
Increased demand for clinical drug supply chain services, predominantly for cell and gene clinical trials, defines the growing market landscape. Healthcare facilities strive to expand their global network to support accelerated demand for mRNA and cell & gene therapies, substantiating the market size. Advances in IoT connectivity solutions are transforming healthcare cold chain management on a global scale.
These technologies help pharmaceutical and healthcare organizations maintain safe and compliant environments. Besides, early access & managed access programs and expansion of cold chain services and packaging solutions boost the market revenues. Significant investments in accelerating the global clinical supply chain network and cold chain capabilities escalate market shares.
Current and future investments in innovative solutions that maintain high standards for excellence in cold chain delivery and logistics would keep pushing the bar higher. Most healthcare organizations involved in vaccination production incorporate strict guidelines to maintain the vaccine’s potency and effectiveness at all parts of the cold chain.
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Major Players
Leading healthcare cold chain monitoring market players are
Healthcare Cold Chain Monitoring Market – Segmentations
The report segments the market into components, products, temperature types, end-users, and regions. Of these, the product segment is bifurcated into biopharmaceuticals, vaccines, clinical trial materials, and others. The component segment is bifurcated into software (cloud-based and on-premises) and hardware (sensors, data loggers, RFID devices, real-time monitoring devices, resistance temperature detectors, others).
Similarly, the temperature type segment is bifurcated into frozen and chilled. The end-user segment is bifurcated into hospitals & clinics, research institutes, biopharmaceutical companies, and others. In the end, the region segment is bifurcated into the Asia-Pacific, Americas, MEA, Europe, and the rest of the world.
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Global Healthcare Cold Chain Monitoring Market – Regional Analysis
North America leads the global healthcare cold chain monitoring market due to the high uptake of advanced technologies and accessibility to products & services delivering cost-effective services. Moreover, the continually rising demand for healthcare cold chain monitoring solutions fosters market growth. Organizations in the region are working on improving business agility and rising developments of active & intelligent healthcare storage, which substantiates the region’s market shares.
Global Healthcare Cold Chain Monitoring Market – Competitive Analysis
Highly competitive, the healthcare cold chain monitoring market appears fragmented, with several well-established players. These industry players incorporate strategic initiatives such as collaboration, acquisition, partnership, expansion, and technology launch to gain an advantage and maintain their position in the market.
Industry/Innovation/Related News:
Apr. 18, 2023 – Eseye, a leading-edge cellular IoT connectivity solutions provider, announced a partnership with a leading pharmaceutical and healthcare environment monitoring solutions provider, AmericanPharma Technologies.
Under the partnership, companies will work together to improve the reliability and resilience of AmericanPharma’s PharmaWatch system and help drive its international expansion. PharmaWatch is an IoT-based, cellular-connected system-as-a-service software solution that helps monitor and safeguard human tissues, vaccines, and medicines across pharmaceutical and healthcare environments.
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