Healthcare Cold Chain Logistics Market Information by Product type (Biopharmaceuticals, Vaccines, Clinical Trial Materials and Others), Services (Storage, Transportation, Packaging and Others), Storage Techniques (Electrical refrigeration, Dry Ice, Gel Packs, Liquid nitrogen and Others), By Region – Global Forecast by 2023
— Global Healthcare Cold Chain Logistics Market Overview
Market Research Future (MRFR) has recently launched a report on healthcare cold chain logistics market. As per the report, the global healthcare cold chain logistics market is anticipated to record a valuation of USD 16,588.3 million by the end of the forecast period. Cold chain logistics means everything used to ensure a constant temperature of unstable heat products from the time of manufacture to the time of utilization. Cold chain logistics are gaining fast momentum owing to the tremendous potential in the healthcare domain. Several pharmaceutical products need a controlled environment to maintain their potency, which makes cold chain logistics a vital function in the delivery and usage of these products. This is likely to push the healthcare cold chain logistics market higher on the growth chart.
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However, cold chain logistics are penetrating the healthcare sector at a moderate rate due to the sophisticated and elaborate process; especially in developing countries. Other factors obstructing the growth of the global healthcare cold chain logistics market include a lack of infrastructure and a proper regulatory framework in underdeveloped countries although governments in some emerging economies are also taking corrective action to augment healthcare cold chain logistics services, fueling market growth.
The healthcare cold chain logistics market report provides detailed information for different types of products requiring cold chain treatment, different services where the cold chain can be applications and various storage techniques used under the cold chain. Different types of products that need cold chain are vaccines, clinical trial materials, and biopharmaceuticals. Cold chain logistics are most used for the storage and transport of vaccines and gained a market valuation of USD 3,800 million at the beginning of the review period. The biopharmaceutical products are likely to adopt the cold chain logistics and outperform the demand for cold chain logistics by vaccines.
Several applications of healthcare cold chain logistics are studied in the MRFR report, including transportation, packaging, and storage. Highest revenue generated in the healthcare cold chain logistics market is to be garnered through its applications in the transportation sector. The market is likely to gain more than USD 7,200 million in revenue through its applications in the transportation industry.
Cold chain logistics use different types of storage techniques according to product requirements. Some of these storage techniques include dry ice, electrical refrigeration, gel packs, and the use of liquid nitrogen.
Detailed Regional Analysis
The healthcare cold chain logistics market is studied for different regions such as North America, Latin America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA). Among these, North America and Latin America are expected to lead the global healthcare cold chain logistics market together during the forecast period. Presence of many service providers in these regions and the existence of a massive pharmaceutical manufacturing sector in these regions is fueling growth in the regional healthcare cold chain logistics market during the assessment period.
Europe is anticipated to witness significant growth and capture the second-largest share in the global healthcare cold chain logistics market by 2023. Asia Pacific, on the other hand, is anticipated to expand substantially owing to various government initiatives to take corrective actions in emerging economies to boost the healthcare cold chain logistics services during the conjecture period.
Different key players to keep track of in the global healthcare cold chain logistics market include AmerisourceBergen Corporation, American Airlines, Inc., DB Schenker, FedEx, Marken, Cavalier Logistics, KUEHNE + NAGEL, and DHL International GmbH.
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July 2019: Tag Sensors recently received a USD 3 million in investment from a private equity firm named Elite Partners Capital (EPC) to aid its expansion in the food and pharmaceutical sectors. This investment is likely to provide leverage to Tag Sensors to expand its operations in Asia. Tag Sensors is a cold chain track and trace specialist.
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