NEWARK, Del, Sept. 06, 2022 (GLOBE NEWSWIRE) -- The global temperature controlled pharma packaging solutions market is anticipated to reach a valuation of US$ 7.4 Bn in 2032, with sales growing at a robust CAGR of 7.8% over the forecast period of 2022 to 2032. Valued at an estimated US$ 4 Bn in 2022, the temperature controlled pharma packaging solutions market is driven by the quickly expanding pharmaceutical sector. The introduction of multiple new drugs and medications are also likely to supplement the market expansion of temperature controlled pharma packaging solutions market over the forecast period.
Chemical goods and pharmaceutical medications that are temperature sensitive make use of temperature controlled pharma packaging solutions. Temperature controlled pharma packaging solutions aid in preserving the temperature of the product thereby preserving the shelf life of the product. This property of temperature controlled pharma packaging solutions encourages attractive market possibilities. Over the past decade, there has been increasing awareness about product safety, specifically in the pharmaceutical sector. Hence, escalating awareness about product safety and maintenance of the product’s shelf life promote the target market expansion.
Moreover, the integration of technologically advanced tools into temperature controlled pharma packaging solutions will further propel the market to grow. Due to stronger packaging regulations, the market players are focused on quality packaging as well as on compliance with the regulations. Thus, these players are utilizing cost effective and technologically advanced temperature controlled pharma packaging solutions. Plenty of lucrative market opportunities are offered to the temperature controlled pharma packaging solutions market due to the use of next-gen tracking technology and high insulation-based packaging solutions.
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Although the target market faces healthy market prospects over the forecasted period, implementation of stringent regulations regarding the packaging of pharmaceutical goods may impede the market growth of temperature controlled pharma packaging solutions.
“This will stimulate the market prospects for temperature controlled pharma packaging solutions over the forecast period,” says an FMI analyst.
Key Takeaways:
- Technological enhancements to increase market growth over the forecast period.
- High maintenance and investment costs may hamper market prospects.
- The temperature controlled pharma packaging solutions market in Europe is predicted to dominate the global space.
- Increasing use of temperature sensitive medical products will prompt market growth in the U.S.
- China will register a high growth rate of the target market over the assessment period.
- By product type, insulated shippers segment will lead the market growth.
Competitive Landscape
Sonoco Products Company, Pelican Biothermal, Sofrigam SA Ltd., Cryopak, Cold Chain Technologies, Envirotainer Ltd., va-Q-tec AG, Inmark Packaging, American Aerogel Corporation, and others are some of the major players in the temperature controlled pharma packaging solutions market that are profiled in the full version of the report.
Major market players are focusing on utilizing technological innovations and advancements to expand their business. These organizations are increasing their investment in research and development activities to introduce more efficient products in to the market to gain a competitive advantage.
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More Insights into the Temperature Controlled Pharma Packaging Solutions Market Report
In its latest report, FMI offers an unbiased analysis of the global temperature controlled pharma packaging solutions market, providing historical data from 2015 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and range, the market is segmented based on product (insulated shippers (panels and envelopes, EPS foam containers, fiberboards, PUR containers), insulated protective shippers, insulated containers (chest style, upright style), others (refrigerants, gel, icepacks, phase change materials, etc.), application (frozen temperature controlled pharma packaging solutions, chilled temperature controlled pharma packaging solutions, ambient temperature controlled pharma packaging solutions), and region.
According to the latest FMI reports, based on region, the temperature controlled pharma packaging solutions market in Europe will likely dominate the global arena. The target market in this region is expected to grow and develop at a rapid rate during the projected period. Escalating disease outbreaks coupled with high demand for cold storage for medical goods in the healthcare sector will drive the market growth during the assessment period.
Apart from Europe, countries like the U.S. and China are projected to exhibit impressive growth over the forecasted period. A prosperous pharmaceutical industry along with rising demand for vaccines and other temperature sensitive medical goods foster market growth in the U.S. whereas in China, the market growth is driven by extensive research and development activities on thermal packaging solutions.
Based on segmentation, on the basis of product type, the insulated shippers segment is estimated to account for the highest revenue while the chilled temperature controlled pharma packaging solutions segment will register the highest demand over the forecast period.
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage
2.2. Market Definition
3. Key Market Trends
TOC continued…!
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