Market Snapshot:
The global Healthcare Cold Chain Logistics Market is expected to register a CAGR of 7.89% during the forecast period and is expected to hit USD 22,024.66 million by 2027.
Market Highlights:
It is expected that the market for cold chain healthcare logistics will benefit from the availability of personalised medicine, in which cold chain logistics plays an integral role in the effectiveness of personalised drugs. The healthcare cold chain logistics market Share has expanded significantly due to the increasing demand for biopharmaceuticals and vaccines, which require cold chains and stricter government regulations for the efficient handling of temperature sensitive pharmaceutical products. Biopharmaceuticals are usually complex protein molecules and their effectiveness depends heavily on the logistics adhered to the temperature.
In addition, adopting novel supply chain policies and technologically advanced distribution needs systems also acts in favour of the healthcare market for the cold chain logistics.
The flourishing pharmaceutical industry is also boosting demand for cold chain logistics in healthcare to serve the healthcare needs of the growing population global population. An rising number of clinical trials using temperature sensitive materials such as tissue samples, blood samples and certain medicinal products give impetus to the demand for cold chain logistics in the healthcare sector.
Segment Analysis:
The global healthcare cold chain logistics market has been divided based on product, services, mode of delivery, temperature range, storage techniques range, and end user.
The healthcare cold chain logistics market, based on product, has been segregated into vaccines, biopharmaceuticals, clinical trial materials, and others. On the basis of services, the global market is divided into transportation, storage, packaging, labeling, and others. Based on mode of delivery, the global market is bifurcated into last-mile delivery and hubs-to-distributor. On the basis of temperature range, the global market is segmented into ambient, refrigerated, frozen, and cryogenic. By storage techniques range, the global market is segmented into electrical refrigeration, dry ice, gel packs, liquid nitrogen, and others. Based on end user, the global market is divided into hospitals & clinics, pharmaceutical, biopharmaceutical, & biotechnology companies, and others.
List of Key Companies Covered in this Report:
- Cardinal Health
- Amerisource Bergen
- Envirotainer
- Thermoking
- FedEx
- Sonoco Thermosafe
- Phoenix Group
- B Medical Systems
- Agility
- Dokasch
- VRR
- Lec Medical
- Stirling Ultracold
- Walden Group
- Omega Logistics
- Fiege
- Coldtainer
- Almac Group
- Coldman Logistics
- Cavalier Logistics
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Regional Analysis:
The growing demand for cold chain logistics due to the emerging trend of personalized drugs can support expansion of North America. The rise in requirement of personalized, temperature sensitive drugs, among the expanding patient pool and geriatric population can contribute significantly to the rise of the regional global healthcare cold chain logistics market in the near future. The extensive research taking place in the field of molecular biotechnology and stem cell induce need for cold chain logistics that can aid the regional healthcare cold chain logistics market to rise at decent pace.
In Europe, the rise in export trading of pharmaceuticals as government and non-government organizations focus on offering effective healthcare facilities can support expansion of the market in the near future. Initiatives, such as; mass immunization, which requires temperature-controlled chambers for storage are creating the need for cold chain logistics for interrupted transportation. Thus, the R&D segment can foster considerable revenue for EU healthcare cold chain logistics market in the near future.
The rise in number of clinical trials for the development of COVID 19 vaccine and the increase in need for new treatment methods for temperature-sensitive blood and tissue samples to design various types of drugs can support expansion of APAC market. The rise in utility of cold chain logistics to ensure safe delivery and distribution of thermolabile products can add to the rise of the regional market.
Key Findings of the Study:
- The global healthcare cold chain logistics market was valued at USD 10,669.18 million in 2019 and is projected to register a 7.89% CAGR during the assessment period.
- The Americas accounted for the largest share of the global market due to the well-developed healthcare sector and the presence of leading players.
- Based on product, the vaccines segment accounted for the largest market share of 36.8% in 2019.
- On the basis of services, the storage segment is expected to register the fastest growth at a CAGR of 8.78% during the forecast period.
- Based on mode of delivery, the hubs-to-distributor segment accounted for the largest market share with a value of USD 7,255.53 million in 2019.
- By end user, the pharmaceutical, biopharmaceutical, and biotechnology companies segment accounted for the largest market share in 2019.
- Sterling Ultracold (US), FedEx (US), Phoenix Group (UK), Sonoco Thermosafe (US), and B Medical Systems (Luxembourg) are the key market players.
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