Pune, India, April 03, 2019 (GLOBE NEWSWIRE) -- Global Healthcare Cold Chain Logistics Market is estimated to reach a valuation of USD 16, 588.3 Mn exhibiting a CAGR of 7.54% over the forecast period, according to MRFR. Global healthcare cold chain logistics market is a vital part of the global healthcare sector and is likely to experience steady growth over the forecast period from 2018 to 2023, according to the latest report from Market Research Future (MRFR). The.
The global healthcare cold chain logistics has taken on a majorly important role in the global healthcare sector in recent years due to two main reasons: the growing demand for biologics in the pharmaceutical sector and the increasing role of international transportation in the life sciences sector and medical research.
The Growing Demand for Biologics
Biologics are products extracted from living organisms. These include blood, blood components, vaccines, tissues, and recombinant proteins, among others. The role of biologics in the healthcare sector has grown over the last few years due to the growing realization of their higher efficacy in treating medical conditions and providing lasting relief. However, being bioactive, biologics require protection against environmental elements such as moisture and the temperature during storage and transportation. This has driven the demand from the healthcare cold chain logistics market in recent years.
The growing government support to vaccination drives is likely to be a major driver for the healthcare cold chain logistics market over the forecast period. Especially, the growing role played by the government in large countries such as China, India, Russia, Canada, the U.S., and Brazil to ensure widespread vaccination among their population is likely to drive the demand from the healthcare cold chain logistics market at a steady rate over the forecast period.
Competitive Analysis:
Leading players in the global healthcare cold chain logistics market include AmerisourceBergen Corporation, FedEx, American Airlines Inc., DHL International GmbH, Kuehne+Nagel, Cavalier Logistics, Marken, and DB Schenker.
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Growing Demand for Cord Blood Banking and Stem Cell Storage
The growing demand for cord blood banking and the rising utilization of stem cells in healthcare applications is a crucial aspect of the growing role of biologics in the global healthcare sector and is likely to play a key role in the development of the global healthcare cold chain logistics market over the forecast period.
Cord blood banking has emerged as an effective way of harvesting and collecting stem cells in a secure location, as it involves taking the stem cells present in a baby’s placenta and storing them securely for future use. The diverse potential of stem cells in the healthcare sector has driven the demand for cord blood banking and stem cell preservation. This has resulted in a growing demand from the healthcare cold chain logistics market, as stem cells are among the most valuable resources that can be harvested from a human body and thus require solid storage systems designed to keep them safe from perishing. This could emerge as a major driver for the global healthcare cold chain logistics over the coming years due to the growing public support for stem cell research.
Growing Demand for Safe Transportation of Medical Research Components
The growing medical research industry in emerging regions has driven the demand from the Healthcare Cold Chain Logistics Market in recent years. The healthcare research sector has emerged with a strong potential in countries such as China, India, Taiwan, etc. in the last few years due to the growing availability of trained biologists/biotechnologists and the growing presence of major healthcare companies in these regions. This has led to a growing need for effective cold chain storage and transportation, leading to steady growth of the healthcare cold chain logistics market in the region. The growing healthcare sector in Asia Pacific and the Middle East is likely to further drive the healthcare cold chain logistics market in the region over the forecast period.
Browse the market data and information spread across 119 pages with 121 data tables and 15 figures of the report “Healthcare Cold Chain Logistics Market Report - Forecast 2018-2023” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/healthcare-cold-chain-logistics-market-6550
Market Segmentation:
The global healthcare cold chain logistics market is segmented by product type into vaccines, biopharmaceuticals, clinical trial materials, and others. Vaccines are likely to dominate the global healthcare cold chain logistics market over the forecast period.
By service, the global healthcare cold chain logistics market is segmented into storage, packaging, transportation, and others.
By storage technique, the market is segmented into electrical refrigeration, dry ice, gel packs, liquid nitrogen, and others.
Regional Analysis:
North America is likely to dominate the global healthcare cold chain logistics market over the forecast period due to the steady establishment of large-scale healthcare cold chain networks in the country. The preeminent position of the U.S. as a leader in the clinical research sector is further likely to augment the demand from the healthcare cold chain logistics market in the region over the forecast period.
What’s Holding the Market Back?
On the other hand, the high costs of cold chain storage and maintenance are likely to be a major restraint on the global healthcare cold chain logistics market over the forecast period. While the U.S., the UK, Germany, and other leading Western nations have established widespread cold chain logistics networks over a number of years, emerging countries in the aforementioned regions are likely to find it harder to plan large-scale establishment of healthcare cold chain logistics due to its high cost. The lack of trained personnel to handle long-distance healthcare cold chain logistics in these regions is also likely to be a restraint on the market over the forecast period, as companies will need to invest time and resources on training new personnel and bringing them up to date with global standards.
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