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Healthcare Cold Chain Logistics Market OverviewAs per the analysis conducted by Market Research Future (MRFR), the global healthcare cold chain logistics market is projected to garner a market value of USD 16,588.3 million by 2023.
The growing preference for personalized drugs by the expanding patient pool is anticipated to be a significant factor that can grow the market during the forecast period. The increasing demand for biopharmaceuticals and vaccines and stringent rules and regulations for effective handling of temperature-sensitive pharma products are other salient causes that can grow the market during the analysis timeframe.
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Furthermore, the growing clinical trials that can use temperature-sensitive materials such as blood samples, tissue samples, and certain drugs can boost the demand for healthcare cold chain logistics. On the contrary, the unstable regulatory standards for the cold chain in the healthcare sector are likely to have a negative impact on the market during the forecast period. In addition to these, the careless implementation of techniques needed to maintain consistency across the process is predicted to be another factor that can hamper the global healthcare cold chain logistics market in the coming period.
Market Segmentation
The global healthcare cold chain logistics market can be segmented on the basis of end-user, product type, storage techniques, and services.
The end-user segments of the global healthcare cold chain logistics market are hospitals and clinics, research institutes, biopharmaceutical companies, and others. Among all, the biopharmaceutical segment is likely to gain significant traction during the forecast period. On the other hand, the dry ice segment can display the maximum CAGR by 2023.
The product type segments of the global healthcare cold chain logistics market are clinical trial materials, vaccines, biopharmaceuticals, and others. Among all, the vaccine segment is predicted to dominate the market during the analysis timeframe.
The storage techniques segments of the global healthcare cold chain logistics market are electrical refrigeration, liquid nitrogen, gel packs, dry ice, and others.
The service segments of the global healthcare cold chain logistics market are transportation, packaging, storage, and others.
Regional Analysis
As per the assessment conducted by MRFR, the global market for healthcare cold chain logistics market is anticipated to be dominated by North America during the analysis period. The presence of a large number of service providers is expected to be a significant factor that can augment the market during the forecast period. In addition to this, the rapid expansion of the pharmaceutical manufacturing sector is likely to be another salient cause that can support the growth of the market in the assessment period. On the other hand, APAC is anticipated to procure substantial market value during the forecast period. The demand for cold chain logistics is speeding up in growth-centric countries as regulations for the transportation of temperature-sensitive pharmaceuticals come into place. Furthermore, the organization of mass immunization programs in developing countries by government and non-governmental organizations is predicted to be another salient cause that can drive the market in the region during the forecast period. Europe is projected to acquire the second position in the market during the forecast period. The expansion of the region can be attributed to the increasing number of refrigerated warehouses and the robust expansion pharmaceutical sector during the analysis tenure. Countries such as Germany and the UK are predicted to make a notable contribution in growing the regional market in the forthcoming period.
Key Players
Some of the renowned players of the global market for healthcare cold chain logistics market are AmerisourceBergen Corporation DB Schenker, American Airlines, InMarken, Cavalier Logistics, FedEx, KUEHNE + NAGEL, and DHL International GmbH.
Industry News
February 2021- FedEx Crop is giving Tennessee State University USD 1 million to help students to finish their degree and be prepared for the workforce. FedEx has pledged a total of USD 5 million to assist four historically Black Colleges and Universities. The other three are LeMoyne-Owen College, Mississippi Valley State University, and Jackson State University. The funds are also to help and support those who have been affected by the coronavirus.
February 2021- FedEx Corp’s announced the layoff of between 5,500 and 6,300 employees in Europe as it is about to complete the network integration of its TNT Express unit.
February 2021- FedEx Express was recently recognized by Frost & Sullivan with the 2020 Malaysia Customer Value Leadership Award. The recognition was based on a recent analysis of the Malaysian Express International courier services market undertaken by Frost & Sullivan.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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