The temperature-controlled pharmaceutical packaging solutions market is anticipated to grow with a CAGR of 7.8% during the forecast period. The global market is expected to increase from $4 billion in 2022 to $7.4 billion in 2032. The market for temperature-controlled pharmaceutical packaging currently accounts for 45% of the overall market for temperature-controlled packaging. According to historical data from Future Market Insights, the market grew at a CAGR of 7.2% between 2015 and 2021.
The market’s ability to keep the product at a consistent temperature has contributed to its growth. Additionally, it aids in extending the shelf life of a product. The growth of the overall temperature-controlled pharma packaging solutions market is attributed to the cutting-edge technologies used globally. Furthermore, to create smart thermal boxes it is crucial to stay ahead of the technological advancements taking place around the world.
Additionally, growth within the pharmaceutical industry and the development of various new medications and drugs propel the demand for temperature-controlled medical packaging solutions. Due to the aforementioned factors, the global market is projected to reach a valuation of US$ 7.4 Billion by 2030.
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Such packaging methods are primarily used to extend the life of chemical products and pharmaceutical products. They are also helpful in maintaining a variety of product-specific environmental factors, such as air quality levels. Any kind of deviation from recommended temperature may compromise the drug’s efficiency. Drugs need to be safely kept in temperature-controlled containers to avoid any damage to the product. By efficiently reducing the weight and volume, these packaging solutions provide enhanced preservation of the products.
Key Takeaways
- The global temperature-controlled pharma packaging solutions market is expected to bolster over the forecast period. Owing to the strong influence of regulations, the nature of products and other factors are propelling the market growth.
- A significant rise has been witnessed in the demand for higher quality and compliance across the world. Key market players are actively targeting reinforced composite materials with high insulation-based packaging solutions and stability to set their products apart from the competition.
- The higher need for cost-effective solutions for highly temperature-sensitive shipments is likely to direct focus towards lightweight yet high insulation-based packaging solutions.
- With the help of next-gen shippers and data management devices, innovative technologies are paving their way into the market space, allowing faster and more accurate transparency within the movement of sensitive pharma products.
- These packaging solutions are commonly utilized for effective packaging and shipping of several chemical goods which are temperature sensitive. Other pharmaceutical medications also require these packaging solutions in order to preserve temperature stability. These temperature-controlled pharma packaging solutions are intended to extend the shelf life of a product in a moderate environment.
Competitive Landscape
Increasing innovative technologies and advancements are some of the vital aspects necessary for the expansion of the market. Prominent market players are investing more in research & development to develop more efficient products to set their products apart from the competition.
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More Insights into the Temperature-Controlled Pharma Packaging Solutions Market
The European region is expected to dominate the global temperature-controlled pharma packaging solutions market. The region is witnessing growth owing to the rising demand for cold storage medical items within the healthcare sector.
Europe has witnessed significant advancements on the basis of pharmaceutical packaging that have been hesitated due to the rising number of disease outbreaks.
The North American region is expected to create lucrative growth opportunities over the projection period. The market is expected to surge owing to the huge number of pharmaceutical producers and the increasing use of temperature-controlled medical products.
Since the U.S. pharmaceutical industry is thriving, the demand for vaccines, and other temperature-controlled medical products is expected to rise, propelling the market in the U.S.
China is yet another country expected to showcase promising growth over the assessment period. The growth is attributed to the number of clinical trials. China has seen technological improvements as a result of its growing population and an increasing number of disease outbreaks.
Competitive Landscape
Rapid technical innovations and advancements are crucial aspects of the expansion of the industry. Major companies are investing more in research & development to develop more efficient products to set their products apart from the competition.
For instance,
- Cryoport, Inc., a leading supplier of temperature-controlled supply chain solutions for the life sciences sector, acquired CRYOPDP, a leading provider of advanced temperature-controlled logistics solutions to pharmaceutical, clinical research, and gene & cell therapy markets. The acquisition will provide CRYOPDP noteworthy synergies with Cryoport’s operating entity, Cryoport Systems, with very little overlap in infrastructure and capabilities, from a regional as well as product and service support viewpoint.
Key Players:
- Sonoco Products Company
- Pelican Biothermal
- Sofrigam SA Ltd.
- Cryopak
- Cold Chain Technologies
- Envirotainer Ltd.
- va-Q-tec AG
- Inmark Packaging
- American Aerogel Corporation
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Key Segments Of Temperature Controlled Pharma Packaging Solutions Industry Survey
Temperature Controlled Pharma Packaging Solutions Market By Product :
- Insulated Shippers
- Panels and Envelopes
- EPS Foam Containers
- Fiberboards
- PUR Containers
- Insulated Protective Shippers
- Insulated Containers
- Chest Style
- Upright Style
- Others (Refrigerants, Gel, Icepacks, Phase Change Materials, etc.)
Temperature Controlled Pharma Packaging Solutions Market By Application :
- Frozen Temperature Controlled Pharma Packaging Solutions
- Chilled Temperature Controlled Pharma Packaging Solutions
- Ambient Temperature Controlled Pharma Packaging Solutions
Temperature Controlled Pharma Packaging Solutions Market By Region :
- North America Temperature Controlled Pharma Packaging Solutions Market
- Latin America Temperature Controlled Pharma Packaging Solutions Market
- Europe Temperature Controlled Pharma Packaging Solutions Market
- East Asia Temperature Controlled Pharma Packaging Solutions Market
- South Asia & Pacific Temperature Controlled Pharma Packaging Solutions Market
- Middle East & Africa (MEA) Temperature Controlled Pharma Packaging Solutions Market
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