NEWARK, Del, Nov. 27, 2023 (GLOBE NEWSWIRE) -- The global medical transport box market is anticipated to reach a valuation of US$ 696.6 million in 2024, driven by globalization of clinical trials. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 5.6% between 2024 and 2034, and reaching a total valuation of US$ 1,201.3 million by 2034.
Advances in autonomous vehicles and drone technology may influence the transportation of medical supplies, including the use of specialized medical transport boxes for aerial delivery in remote or challenging terrains. The growing use of biologic drugs, which often have specific temperature and environmental requirements, is expected to fuel the demand for advanced medical transport solutions that can maintain the integrity of these sensitive products during transit.
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The aging population often requires a higher volume of medical supplies and medications. The demographic shift is expected to lead to increased demand for medical transport boxes to ensure the safe and timely delivery of healthcare products to elderly individuals. The shift toward patient centric healthcare models may lead to increased demand for home healthcare services, requiring secure and temperature controlled transport solutions for medical supplies delivered directly to the homes of patients.
Key Takeaways from the Market Study
- Global medical transport box market was valued at US$ 672.4 million by 2023-end.
- From 2019 to 2023, the market demand expanded at a CAGR of 3.8%.
- The market in China is expected to expand at a CAGR of 6.7% through 2034.
- By material, the plastic segment to account for a share of 56.3% in 2024.
- From 2024 to 2034, medical transport box market is expected to flourish at a CAGR of 5.6%.
- By 2034, the market value of medical transport box is expected to reach US$ 1,201.3 million.
“The integration of blockchain technology for secure and transparent record keeping in the healthcare supply chain may influence the development of medical transport boxes with built in blockchain solutions to enhance data integrity,” remarks Senior Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
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Competitive Landscape
Prominent players in the medical transport box market are
- B Medical Systems
- Avantor Inc.
- Thermo Fisher Scientific Inc.
- Sonoco Products Company
- SARSTEDT AG & Co. KG
- Haier Group
- Nilkamal
- BITO-Lagertechnik Bittmann GmbH
Recent Developments
- In 2020, Sonoco ThermoSafe, a division of Sonoco and a prominent global supplier of temperature assurance packaging for the life sciences and healthcare sectors, unveiled its latest product, the EOS™ line. The innovative line features fully curbside recyclable temperature controlled packaging and is now available in the United States.
- In the same year, Pelican BioThermal, a renowned global leader in temperature controlled packaging, had successfully acquired NanoCool, a manufacturer based in Albuquerque, New Mexico, specializing in temperature controlled packaging solutions. The strategic acquisition enhances the already extensive Pelican BioThermal product portfolio, solidifying its position as the most comprehensive in the industry.
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Segmentation Analysis of the Medical Transport Box Market
By Material:
- Plastic
- Metal
- Paperboard
By Capacity:
- Up to 5 L
- 5 L to 10 L
- Above 10 L
By End User:
- Hospital and Clinics
- Blood Banks
- Laboratories
- Research Centres
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia & Pacific
- East Asia
- The Middle East & Africa
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show - Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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