New York, USA, Nov. 02, 2022 (GLOBE NEWSWIRE) -- Healthcare Cold Chain Logistics Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Healthcare Cold Chain Logistics Market Information By Product, Services, Mode of Delivery, Temperature Range, Storage Techniques Range End User and Region - Forecast till 2027", market is expected to cross USD 22,024.66 million by 2027 at a 7.89% CAGR.
Market Synopsis
For the preservation of temperature-sensitive items, particularly in the pharmaceutical industry, healthcare cold chain logistics is the service that enables temperature-controlled packing, appropriate storage, and transportation. It aids in sustaining the efficacy and shelf life of goods like medicines, vaccines, biopharmaceuticals, samples, and other goods. The demand for biopharmaceuticals and vaccines, which require cold chains, is rising. Stricter government restrictions are also to blame for the efficient handling of temperature-sensitive pharmaceutical items. The demand for healthcare cold chain logistics is also fueled by the booming pharmaceutical industry, which is developing to meet the healthcare needs of the expanding worldwide population.
The expansion in the pharmaceutical industry is anticipated to accelerate the growth of the healthcare cold chain logistics market over the forecast period because the various types of healthcare items demand a significant degree of preservation and safety. The market will expand due to consumer demand for perishable items such as dairy, fruits, vegetables, and non-vegetables. However, it is anticipated that the lack of enough resources or technology for high-quality cold chain facilities will limit the market's expansion. According to estimates, the healthcare cold chain logistics market will continue to grow and present new opportunities due to inventive developments for improved preservation, extended shelf life, and optimal product safety.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2027 | USD 22,024.66 Million |
| CAGR | 7.89% |
| Base Year | 2019 |
| Forecast Period | 2020-2027 |
| Historical Data | 2019 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product, Services, Mode of Delivery, Temperature Range, Storage Techniques Range and End User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Growing transportation of temperature-sensitive pharmaceutical products |
| Rising demand for biopharmaceutical products |
Healthcare Cold Chain Logistics Market Competitive Landscape:
The important contenders in the healthcare cold chain logistics market are:
- Cardinal Health
- Envirotainer
- Thermoking
- FedEx
- Sonoco Thermosafe
- Amerisource Bergen
- Phoenix Group
- B Medical Systems
- Agility
- Dokasch
- VRR
- Fiege
- Coldtainer
- Almac Group
- Coldman Logistics
- Lec Medical
- Stirling Ultracold
- Walden Group
- Omega Logistics
- Cavalier Logistics
Healthcare Cold Chain Logistics Market Dynamics:
Market Drivers:
Different medicinal items must be kept at various temperatures to maintain their integrity along the transport chain. The cold chain logistics industry has developed a set of temperature guidelines that can accept the majority of items. Logistics for cold storage packaging have evolved. Currently, it consists of reefers with a powered refrigeration unit, moving containers, liquid nitrogen, and insulated boxes with dry ice or gel packs. Additionally, the market has grown due to player acquisitions and advancements in the cold chain logistics sector, which have increased the transportation of temperature-sensitive goods.
Their reliance on cold chain logistics for healthcare is projected to increase due to developments in the healthcare sector and the supporters of healthcare systems. By accurately maintaining the temperature needs of the drugs, this element will assure quick delivery of the necessary medications to the affected end-users. These factors will probably encourage significant growth in the healthcare cold chain logistics market. Patient medicine distribution patterns have greatly benefited from the pharmaceutical and medical industries' extensive integration of healthcare cold chain logistics. Consequently, it is anticipated that the healthcare cold chain logistics market will grow.
Market Restraints:
Delay in reimbursement is a major impediment to market expansion in most nations. Healthcare cold chain logistics reimbursement is a difficult process. The reimbursement process's complexity in and of itself challenges the market. The market cannot expand since different nations do not have uniform reimbursement systems. Therefore, the absence of reimbursement in underdeveloped nations restricts business expansion.
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COVID 19 Analysis
The COVID-19 pandemic has directly impacted healthcare cold chain logistics companies, which are involved in the storage, transit, and flow of commodities. These logistics companies assist businesses in delivering their products to clients and facilitate trade and commerce, which helps them make a sizable profit. Additionally, the cold chain logistics sector uses much electricity during daily operations. As a result of rising energy costs during the COVID-19 outbreak, cold chain service providers are having a tough time lowering their operational costs.
Due to the COVID-19 pandemic's effects on the healthcare cold chain industry's supply chain and the pandemic's restrictions on commerce, cold chain manufacturers have focused more on storage to extend their products' shelf lives, which is expected to fuel the market for cold chain expansion. The COVID-19 vaccine's introduction hampered all supply chains, but healthcare logistics were unaffected because of the ongoing demand for medicinal supplies. Additionally, as vaccines must be kept at specific temperatures for storage, worldwide immunization campaigns increased demand for the healthcare cold chain logistics sector. These features have proven beneficial to expand the healthcare cold chain logistics industry.
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Healthcare Cold Chain Logistics Market Segmentation
By storage techniques range market includes dry ice, electrical refrigeration, gel packs, and liquid nitrogen by storage techniques range.
By product, the market includes biopharmaceuticals, vaccines, and clinical trial materials.
The market includes pharmaceutical, biopharmaceutical, hospital & clinics, and biotechnology companies by the end user.
By mode of delivery, the market includes last-mile-delivery and hubs-to-distributor.
The market includes refrigerated, ambient, frozen, and cryogenic by temperature range.
The market includes storage, transportation, packaging, and labeling by services.
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Healthcare Cold Chain Logistics Market Regional Insights
The healthcare cold chain logistics industry is predicted to be dominated by North America because of the region's abundance of pharmaceutical firms and extensive supplier network. These beneficial factors are probably going to expand significantly in this area. Due to powerful market competitors and government initiatives for well-equipped healthcare systems, Europe and the Asia Pacific may experience growth comparable to that of North America. A controlled environment is necessary for various pharmacological products to maintain their potency, which makes the cold chain crucial. Cold chain penetration, however, is only moderate despite being a complex and elaborate operation, particularly in developing areas. The market's potential to flourish is being hampered partly by factors including the absence of a proper foundation and inefficient administrative structures in underdeveloped countries.
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