The pharmaceutical cold chain packaging market is predicted to grow at a CAGR of 14.8% and reach US$ 60,100.9 million by 2033, according to data that Future Market Insights just published (FMI).
The global pharmaceutical cold chain packaging market is driven by healthcare vertical pressure for cold chain packaging for the vaccine and biopharma industries. The market prospered as a result of the pandemic. Since that time, it hasn’t turned around.
mRNA-based formulations should be stored at a temperature of 80 degrees Celsius, according to the United States International Trade Commission. It is well known that 5- 20% of vaccines are lost in transit. This may be lessened by emphasising the importance of superior packing and storage.
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For improved handling of temperature-sensitive pharmaceutical items, advanced cold chain packaging insulation solutions like VIP (Vacuum Insulated Panels) are being suggested. According to Sofrigam, vacuum insulated panels may withstand packing for 7–10 days, or even twice as much as insulation materials.
Real-time tracking, RFID tracking, enhanced analytics, and similar technology improvements are being implemented. Apps for managing data in the cloud are also being tested to promote quicker decision-making. This information is detailed in Future Market Insights’ most recent market analysis, “Pharmaceutical Cold Chain Packaging Market.” The committed group of analysts and consultants used a bottom-up strategy.
Key Takeaways from Pharmaceutical Cold Chain Packaging Market
- North America holds the largest market share with the US being subject to technological advancements. The US International Trade Administration has stated that pharmaceutical cold chain packaging market has undergone drastic changes in the last few years, especially when mode of shipment changed to sea modes from air transportation. This transition could be attributed to the fact that difference in temperature results in pharmaceutical products getting deteriorated.
- Coming to Europe, Germany leads the market. As per Germany Trade and Invest (GTAI), extensive investment in research has put Germany on the top pedestal with respect to pharmaceutical cold chain packaging market. The scenario is expected to persist even in the forecast period.
- The Asia-Pacific is expected to grow at the fastest rate in the pharmaceutical cold chain packaging market in the forecast period. This could be reasoned with countries like India broadly promoting cold chain packaging in the pharmaceuticals vertical and China being one of the hubs of pharmaceuticals.
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Competitive Arena
- Sonoco Thermosafe, in August 2021, announced that it had partnered with Korean Air for leasing the latest shipping container temperature controlled ‘Pegasus ULD’.
- Pelican Products, in February 2021, began distribution of temperature-controlled cases for transportation of Covid-19.
- CSafe Global, in December 2021, completed acquisition of Softbox Systems to make provisions for a one-stop solution for various temperature-sensitive products in the biologics, gene & cell therapy, and upcoming mRNA therapies during the Covid as well as post-Covid era.
- Cold Chain Technologies, in March 2021, entered into partnership with B Medical Systems for offering end-to-end storage and shipping solutions to the life science vertical.
- Softbox Systems Ltd., in January 2018, did acquire TP3 Global to expand its presence across the globe.
“Excessive emphasis on improvement of packaging formats’ performance is expected to drive the pharmaceutical cold chain packaging market in the forecast period”, says an analyst from Future Market Insights.
Key Players:
- Sonoco ThermoSafe
- Cold Chain Technologies
- Sealed Air Corporation
- Nordic Cold Chain Solutions
- Cryopak
- CSafe Global LLC
- TemperPack Technologies, Inc.
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Pharmaceutical Cold Chain Packaging Market by CategoryBy Packaging
Format:
- Passive Packaging
- Single Use or One Way Use Packaging
- Multiple Use or Re-Usable Packaging
- Active Packaging
- Reefer Trucks and Containers
- Active Pallet Containers
By Product:
- Small Boxes
- Pallets
- Single Pallets
- Double Pallets
- Large sized Pallet Containers
By Material:
- Polymer
- Polyethylene
- Polypropylene
- PET
- EPS
- Polyurethane
- Others
- Metal
- Paper
By Application:
- Biologics and Biological Samples
- Vaccines and Diagnostics
- Others
By End-Use:
- Diagnostic Centers
- Clinical Research Organization
- Blood Banks
- Vaccines Packaging Industry
- Pharmaceuticals
- Other Healthcare Units
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
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