Market Insights
The growing number of temperature-sensitive pharmaceutical products is observed to be a crucial factor for the expansion of the healthcare cold chain logistics market. The increasing need for proper storage condition of such pharmaceuticals from changing temperature and humid environmental conditions is augmenting the adoption of cold chain logistics in healthcare organizations like hospitals, and others. The healthcare cold chain logistics also assists in monitoring environmental fluctuations and hence, is beneficial for transporting thermal-sensitive products vaccines, serums, and others.
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Cold chain provides real-time information, which is an additional factor that is spurring its rate of adoption in several healthcare organizations, hence, expected to amplify the healthcare cold chain logistics market expansion. The need for well-managed transportation of biological products is likely to prompt the healthcare cold chain logistics market growth. Furthermore, cold chain plays a crucial role in streamlining clinical trials procedures, that is likely to boost the healthcare cold chain logistics market growth. Various mergers and acquisitions among market players are also expected to aid in generating revenues for the market. However, the lack of effort in maintaining consistency throughout the process can hinder the market expansion.
Market Research Future (MRFR) predicts that the Global Healthcare Cold Chain Logistics Market is to garner a CAGR of 7.54% during 2018-2023 and attain a substantial valuation of USD 16,588.3 million by 2023.
Segmental Analysis
The global healthcare cold chain logistics market study has been segmented into product, service, storage technique, and end-user.
Based on the product, the healthcare cold chain logistics market been segmented into clinical trial materials, vaccines, biopharmaceuticals, and others. The vaccine segment is likely to maintain its dominance by holding on to the largest market share and the biopharmaceuticals segment is expected to exhibit the highest growth rate over the forecast period.
Based on the service, the healthcare cold chain logistics market been segmented into packaging, transportation, storage, and othersThe initiative to design special vehicles for the transportation of temperature-sensitive pharmaceuticals is bolstering the growth of the transportation segment. MRFR forecasts, the transportation segment of the market is to attain a substantial growth over the evaluation period.
Based on the storage technique, the healthcare cold chain logistics market been segmented into gel packs, electrical refrigeration, liquid nitrogen, dry ice, and others. The electrical refrigeration segment is anticipated to garner an impressive CAGR over the forecast period that is likely to prompt the healthcare cold chain market growth.
Based on the end-user, the healthcare cold chain logistics market been segmented into hospital and clinics, biopharmaceutical companies, research institutes, and others.
Regional Overview
Based on the region, the healthcare cold chain logistics market been segmented into Latin America, North America, Europe, Asia Pacific, Europe, and the Middle East Asia and Africa.
In North and Latin America, the healthcare cold chain logistics market is expected to lead in the global market over the assessment period. Europe, followed by Asia Pacific, the regions are likely to hold a significant share of the market. Factors like the existence of powerful pharmaceutical companies and the increase in number of mergers and acquisitions among them are fueling the healthcare cold chain logistics market growth in these regions.
Key Players
Kuehne + Nagel International AG, AmerisourceBergen Corporation, DB Schenker, Cavalier Logistics, DHL international GmbH, Marken, American Airlines, Inc., and FedEx.
Industry Update
April 2019: Kool-ex, a pharmaceutical cold chain solutions provider, due to its strategic investment plan, is experiencing substantial growth. Tata Motors has recently invested in Kool-ex.
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