The global temperature-controlled packaging solutions market in the pharmaceutical industry witnessed significant growth in 2018, reaching a size of approximately US$3.5 billion. This market is expected to continue expanding at a compound annual growth rate (CAGR) of 7.8% from 2018 to 2028.
One of the key drivers of this growth is the challenge of delivering pharmaceutical products to patients in remote locations. Maintaining the appropriate temperature throughout the supply chain is essential for ensuring the efficacy and safety of these products, particularly in areas with limited access to healthcare facilities.
North America is projected to remain the largest regional market for temperature-controlled packaging solutions in the pharmaceutical industry. This is primarily due to the presence of major manufacturers and the extensive utilization of temperature-controlled pharmaceutical products in countries like the United States and Canada.
However, the Asia Pacific excluding Japan (APEJ) region demonstrates significant growth potential. Factors such as the rapid increase in the prevalence of chronic diseases, a rising number of clinical trials in countries like China and India, and a growing demand for temperature-sensitive products contribute to the market’s expansion in this region.
Get 20% Discount @ https://www.futuremarketinsights.com/request-discount/rep-gb-5076
The temperature-controlled packaging solutions market for pharmaceuticals is expected to outpace the average growth rate during the forecast period. Key end-use industries for these solutions include healthcare, biomedical, and chemical sectors.
Manufacturers are focusing on enhancing the quality of perishable pharmaceutical products to meet the rising demand for an optimal environment. Additionally, the involvement of regulatory bodies, such as the U.S. Food and Drug Administration (FDA), plays a significant role in driving market growth. Regulatory requirements, including FDA regulations on proper temperature control during pharmaceutical distribution, encourage companies to adopt electronic temperature and humidity equipment to ensure accurate delivery and dispatch of drugs.
Furthermore, the outbreak of the pandemic has further increased the demand for temperature-controlled packaging solutions in the pharmaceutical industry. With a high reliance on healthcare and pharmaceutical products, the market experienced heightened demand during this period. Moreover, the use of temperature-controlled packaging solutions for vaccines and medicines aimed at treating and preventing COVID-19 is expected to contribute to the market’s growth in the coming years.
Key takeaways:
- The global market for temperature-controlled packaging solutions for pharmaceuticals reached nearly US$3.5 billion in 2018 and is projected to grow at a CAGR of 7.8% during 2018-2028.
- Reaching patients in remote locations drives the demand for temperature-controlled packaging solutions for pharmaceuticals.
- North America is the largest regional market, while the Asia Pacific excluding Japan (APEJ) region shows high growth potential.
- The healthcare, biomedical, and chemical industries are the key end-use sectors for these solutions.
- Compliance with regulatory requirements, such as FDA regulations, and the intervention of central healthcare bodies drive market growth.
- The COVID-19 pandemic has further increased the demand for temperature-controlled packaging solutions, particularly for vaccines and medicines.
For More Insights on this Market, Get A Sample Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-5076
Key Players:
- Sonoco Products Company
- Pelican Biothermal
- Sofrigam SA Ltd.
- Cryopak
- Cold Chain Technologies
- Envirotainer Ltd.
- va-Q-tec AG
Enquire before purchasing this report @ https://www.futuremarketinsights.com/checkout/5076
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
About Us:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
LinkedIn| Twitter| Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com