According to IMARC Group’s new report, titled “Global Healthcare Cold Chain Logistics Market Report & Forecast (2017-2022)”, the global healthcare cold chain logistics market reached a value of US$ 0.22 Billion in 2016, growing at a CAGR of 10% during 2009-2016. The growth of market can be attributed to strong sales growth of products requiring cold chain logistics and stricter government regulations regarding efficient storage, handling and transportation of temperature sensitive material. Owing to increasing demand for healthcare cold chain logistics in various segments, the market is expected to reach a value of US$ 0.39 Billion by 2022, growing at a CAGR of 8% during 2017-2022.
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Highlights of the global healthcare cold chain logistics market:
- Vaccines represent the largest sector requiring healthcare cold chain logistics.
- Cold chain transport services dominated the market, followed by packaging and instrumentation.
- North America is the largest market for cold chain healthcare logistics.
The need for healthcare cold chain logistics is primarily felt in three major segments: biopharmaceuticals, vaccines and clinical trials. Biopharmaceuticals are generally complex protein molecules and their efficacy requires temperature specific logistics. Any abrupt temperature change may lead to loss of chemical activity and make biopharmaceuticals harmful for human body. Moreover, increasing number of clinical trials employing temperature sensitive materials like blood sample, tissue sample and certain drugs, has stimulated the market growth.
Also, demand for vaccines has increased, owing to the mass immunization programmes conducted by various government and non-government organisations. Like biopharmaceuticals, vaccines are also temperature sensitive and their potency may reduce on exposure to temperature variations. Driven by the increasing outsourcing trends in the pharmaceutical and biopharmaceutical industry, the cold chain logistics demand for drugs, vaccines and clinical trial materials is expected to increase significantly.
On the basis of product, vaccines drive the demand for healthcare cold chain logistics market, followed by clinical trials and biopharmaceuticals. On the basis of segment, transportation accounts for more than half of the global cold chain logistic services. Other major segments are packaging and instrumentation. On the basis of region, North America is the largest market, followed by Asia-Pacific, Europe and others. Asia-Pacific is the fastest growing region, owing to the developing economies of China, India, South Korea, which are emerging as major destinations for outsourcing clinical trials, drug manufacturing and pathology testing. Some of the key players operating in this market are World Courier, DHL, FedEx, United Parcel Service, Kuehne and Nagel, Cavalier Logistics, DB Schenker, Life ConEx, American Airlines Cargo, Continental Air Cargo and Marken.
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The report by IMARC Group has examined the global healthcare cold chain logistics market on the basis of:
Product:
- Vaccines
- Clinical trials
- Biopharmaceuticals
Segment:
- Transportation
- Packaging
- Instrumentation
Region:
- North America
- Europe
- Asia –pacific
- Rest of the world
Key Players:
- World Courier
- DHL
- FedEx
- United Parcel Service
- Kuehne and Nagel
- Cavalier Logistics
- DB Schenker
- Life ConEx
- American Airlines Cargo
- Continental Air Cargo
- Marken.
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