Market Highlights:
The global healthcare cold chain logistics market is expected to register a CAGR of 7.89% during the forecast period and is expected to hit USD 22,024.66 million by 2027
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, ad Japan are taking corrective measures to improve cold chain logistics services.
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.
Segment Analysis:
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.
The healthcare cold chain logistics market, based on product, has been segregated into vaccines, biopharmaceuticals, clinical trial materials, and others. On the basis of 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. On the basis of temperature range, the global market is segmented into ambient, refrigerated, frozen, and cryogenic. By 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.
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Regional Analysis:
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. 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.
Key Findings of the Study:
- The global healthcare cold chain logistics market was valued at USD 10,669.18 million in 2019 and is projected to register a 7.89% CAGR during the assessment period.
- The Americas accounted for the largest share of the global market due to the well-developed healthcare sector and the presence of leading players.
- Based on product, the vaccines segment accounted for the largest market share of 36.8% in 2019.
- On the basis of services, the storage segment is expected to register the fastest growth at a CAGR of 8.78% during the forecast period.
- Based on mode of delivery, the hubs-to-distributor segment accounted for the largest market share with a value of USD 7,255.53 million in 2019.
- By end user, the pharmaceutical, biopharmaceutical, and biotechnology companies segment accounted for the largest market share in 2019.
- Sterling Ultracold (US), FedEx (US), Phoenix Group (UK), Sonoco Thermosafe (US), and B Medical Systems (Luxembourg) are the key market players.
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Market Overview:As per the latest report published by Market Research Future (MRFR), the Global Healthcare Cold Chain Logistics Market will increase at a compound annual growth rate of 7.54% between 2018 and 2023.
Unbroken cold chain services the gaining popularity in the healthcare sector.
Market opportunities for cold chain in healthcare is expected to increase in the years to come.Request Sample Copy:https://www.marketresearchfuture.com/sample_request/6550Development of novel biopharmaceutical products that require uninterrupted refrigeration is also auguring well for service providers.
Hence increasing preference for personalized drugs by the large patient pool and rapidly increasing geriatric population is resulting in the significant growth of the global healthcare cold chain logistics market.
With increasing research in the field of molecular biotechnology and extensive stem cell research are inducing high demand for cold chain logistics in the healthcare sector, resulting in the rapid expansion of the global healthcare cold chain logistics market.The export of pharmaceuticals has increased in the last few years as the governmental and non-governmental organizations are focusing on providing healthcare facilities in the underdeveloped regions.
Initiatives such as mass immunization, which requires vaccines stored in temperature-controlled chambers, in various developing and underdeveloped regions are generating demand for cold chain logistics for the transportation of temperature-sensitive medications, leading to the expansion of the global healthcare cold chain logistics market.However, the improper implementation of techniques and technologies required for maintaining the consistency across the process is likely to pose a threat for the expansion of the global healthcare cold chain logistics market in the forthcoming years.Market Segmentation:The report includes a detailed segmental analysis of the market based on product type, storage techniques, end user and services.
Cold Chain Logistics Market report published by Value Market Research, which studies the future outlook of the market.
It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the cold chain logistics market include AmeriCold Logistics, LLC, Lineage Logistics Holdings, LLC, VersaCold Logistics Services, AGRO Merchants Group, LLC, Nichirei Logistics Group Inc., Preferred Freezer Services, Congebec Logistics Inc., Burris Logistics Inc., Conestoga Cold Storage, Tippmann Group.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Cold Chain Logistics Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/cold-chain-logistics-market/download-sampleMarket DynamicsThe global cold chain logistics market is witnessing an uptrend with worldwide trade and supply chains growth.
Growing e-commerce of food and pharmaceuticals products and expanding shipping and import & export of food and drugs & pharmaceuticals products primarily drive the global cold chain logistics market.
The growing need to transport perishable and temperature sensitive products safely over long distances and technological advancement is accelerating demand for cold chain logistics.
