The strategies encompassed in this Temperature Controlled Packaging Solutions for Pharmaceuticals Market report mainly include new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others that boost their footprints in this market. This gives a more accurate understanding of the Temperature Controlled Packaging Solutions for Pharmaceuticals Market landscape, issues that may affect the industry in the future, and how to best position specific brands.
This Temperature Controlled Packaging Solutions for Pharmaceuticals Market research report contains a complete background analysis of the industry, which includes an assessment of the parental market. All the statistical and numerical that have been forecasted in this report is represented with the help of graphs, charts, or tables which makes this Temperature Controlled Packaging Solutions for Pharmaceuticals Market report more user-friendly. This report contains a thorough description, competitive scenario, wide product portfolio of key vendors, and business strategy adopted by competitors along with their SWOT analysis and porter’s five force analysis. Whether it is about renewing a business plan, preparing a presentation for a key client, or giving recommendations to an executive, this Temperature Controlled Packaging Solutions for Pharmaceuticals Market report will surely help you to a degree
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The roughly US$ 3.5 Bn market for temperature controlled packaging solution for pharmaceuticals industry has been anticipated to observe strong growth prospects in the coming years.
Key players which have been profiled in the report temperature controlled packaging solutions for pharmaceuticals market include – Sonoco Products Company, Pelican Biothermal, Sofrigam SA Ltd., Cryopak, Cold Chain Technologies, Envirotainer AB, va-Q-tec AG, Inmark Packaging, American Aerogel Corporation, Snyder Industries, Inc., ACH Foam Technologies, LLC, Tempack Packaging Solutions, S.L., EcoCool GmbH, Exeltainer SL, Intelsius, Inno Cool India Private Limited, Softbox Systems, Insulated Products Corporation, TKT GmbH, Saeplast Americas Inc., and Emball’ISO.
According to a new study by Future Market Insights (FMI), the global revenue through adoption of temperature controlled packaging solution for pharmaceutical products will see just-under 8% CAGR over 2018-2028.
FMI’s report opines that the demand for biologics is set to outpace the overall pharmaceutical industry’s growth, and biologics are expected to represent 20% growth in the near future. Strengthened by the increasing investment in the healthcare sector across the globe, the development of new methods in biotechnology and clinical trials is expected to register continuous growth, albeit at a slow pace. This, in turn, is anticipated to hamper the demand for temperature-controlled packaging solutions specifically for pharmaceuticals, globally.
Insulated Shippers Account for around 3/5th Share of the Total Market Revenue
Various types of temperature controlled packaging solutions, such as insulated shippers, insulated protective shippers, insulated containers, and others types including refrigerants, gels, icepacks, and phase change materials, are used in the pharmaceuticals market. In the report, FMI points to a significant market value share of insulated shippers, i.e. nearly 60.0% of the total product type used for temperature controlled packaging solutions for pharmaceuticals market.
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Rising use of temperature-sensitive products and the need to transport products in remote locations are expected to be the major driving forces for the growth of temperature controlled packaging solutions, especially insulated shippers, in the pharmaceuticals market globally.
North America to Create Lucrative Opportunities for Manufacturers
According to the FMI study, North America is expected to dominate the temperature controlled packaging solutions for pharmaceuticals market throughout the forecast period. The US is home to some of the major manufacturers and consumers of temperature controlled products in the world. This factor is expected to create immense opportunities for the growth of the global temperature controlled packaging solutions for pharmaceuticals market in the region.
The FMI study analyzes the temperature controlled packaging solutions for pharmaceuticals market in several regions and focuses on key dynamics affecting the temperature controlled packaging solutions for pharmaceuticals market, globally. It has been observed that growing number of diseases across the globe fuel the demand for different pharmaceutical products. This is expected to propel the demand for temperature controlled packaging solutions for pharmaceuticals during the forecast period.
R&D Activities to Play an Important Role in Bolstering Innovations
Research and development activities are an integral part of the manufacturing process in pharmaceuticals and biotech industries, which is reflected in continuous annual increase in pharmaceuticals R&D spending of 4.2% in 2014, compared to the global average spending recorded in 2013.
Also, the development of novel therapies such as stem cells, monoclonal antibodies, and r-proteins alongside pharmaceutical products have further necessitated the use of cold chain packaging solutions at various stages of development.
Key Segment
On the basis of product type
- insulated shippers
- insulated protective shippers
- insulated containers
- others (including refrigerants, gel, icepacks, and phase change materials)
On the basis of application
- frozen
- chilled
- ambient
Temperature controlled pharmaceutical packaging solutions are validated and designed to rigorous standards to keep products within a safe temperature range for a given period of time. Major uses of temperature controlled packaging solutions for pharmaceuticals are in active pharmaceutical ingredients with strict temperature controls, vaccines, clinical trials, biological products and samples, and products with significant and specific timeline requirements.
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