OTTAWA, Jan. 12, 2021 (GLOBE NEWSWIRE) -- Precedence Research, Recently Published Report on “Pharmaceutical Temperature Controlled Packaging Solutions Market Size, Share & Trends Analysis Report by Type (Reusable Solutions and Single Use Solutions), Application (Temperature-Sensitive Pharmaceuticals, Vaccines, Others) By Region, And Segment Forecasts, 2020 - 2027”.
Pharmaceuticals temperature-controlled packaging solution is an imperative tool in plummeting the hazard and upholding quality of product during the supply chain process by steadying internal temperature. This system benefits to protect shipments across each aspect of the medical supply chain. Some of the foremost application areas of temperature-controlled packaging solutions include inactive pharmaceutical ingredients with balanced temperature, vaccines, biological products and samples, clinical trials, and medical products with detailed timeline necessities.
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Temperature-controlled packaging is a vital aspect of the pharmaceutical supply chain, nonetheless is frequently underestimated. It encompasses many components; which all must interrelate in the way they were intended to for temperature to be preserved. Countless influences impact product temperatures and duration, such as heat transfer by conduction, convection and altering external temperatures, contradictory conditioning necessities, masses of diverse temperatures trying to match, phase change materials (PCM) and ice packs. Temperature-controlled packaging solutions are essential to reduce risk and sustaining product integrity from production to the patient by steadying internal temperature irrespective of external environment.
Growth Factors
Implementation of novel high-performance convection systems that are well-organized for warehousing and supply of pharmaceutical products is anticipated to provide novel growth prospect to the pharmaceutical temperature-controlled packaging solutions industry. Increasing practice of vacuum panel insulation along with the phase change materials can augment the life of warehoused pharmaceutical product. Consequently, the intensifying adoption of such progressive technologies in the pharmaceutical sector is projected to subsidize the growth of the market worldwide.
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Emphasis of pharmaceutical manufacturer is budding to manufacture drugs and therapies for rare diseases. These drugs are consisting of high-value ingredients and have small shelf lives as outcome of which they need stringent temperature-controlled environment. Thus, this is predictable to support the ultra-low temperature range packaging solutions. Temperature controlled pharma packaging solutions will endure to see a sturdier influence of regulations, seeing the nature of products to be shipped and packed. Furthermore, the demand for quality and compliance is rising at a greater rate than innovation. Several market participants are emphasizing towards reinforced composite materials with stability and high thermal protection to set their products apart from the rivalry.
Report Highlights
- In 2019, reusable temperature controlled pharmaceutical solution dominated the global market with around 74% share in terms of revenue
- Temperature-sensitive pharmaceutical applications led the global pharmaceutical temperature-controlled solution market with more than 65% share in 2019. The effort of addressing more and more patients present in distant locations is predictable to support the requirement for pharmaceuticals temperature-controlled packaging solutions across the world
- The necessity for improved handling of temperature-sensitive pharmaceutical products has caused in augmented research for more cutting-edge temperature-controlled packaging insulation materials
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Regional Snapshots
North America is predicted to occupy major stake in the global pharmaceutical temperature-controlled packaging solutions market. This region is likely to have a pool of large market players and more usage of pharmaceutical temperature-controlled products in the Canada and U.S. Further, the Asia Pacific excluding Japan (APEJ) region is expected to observe high growth latent for pharmaceutical temperature-controlled packaging solutions. Demand for temperature-controlled packaging solutions in the healthcare sector is anticipated to eyewitness the strongest growth. Wide-ranging application reach of the pharmaceutical sector is propelling the demand for the product suggestively.
The U.S. Food and Drug Administration has quantified thermal necessities for handling, transportation, and storage of the drugs. These containers address the hygiene and thermal obligation of the healthcare products such as vaccines, drugs, blood, and organs. Over the past couple of years, international health organizations such as the World Health Organization (WHO) have been highlighting the reducing of vaccine waste. Besides, cumulative initiatives to monitor vaccine wastage are anticipated to bolster the demand for the product in the future.
Swift escalation in the commonness of chronic diseases, swelling number of clinical trials in the nations such as India and China, and rising demand for temperature sensitive products will profoundly subsidize to the growth of the pharmaceutical temperature-controlled packaging solutions market within APEJ region.
Key Players & Strategies
Over the past couple of years, imperative manufacturers in the sectors are snowballing spending on research and development to advance the product. For occurrence, in January 2019, Softbox Systems Ltd. introduced a novel pallet along with parcel shipping systems in the Temperature Controlled Logistics (IQPC) sector in London. Crucial players operating in the arena of global pharmaceuticals temperature-controlled packaging solutions are Pelican Biothermal, Sonoco, Sofrigam SA Ltd., Cryopak, Inmark Packaging, Cold Chain Technologies, VA-Q-Tec AG, Envirotainer Ltd., and American Aerogel Corporation among others.
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