Healthcare Cold Chain Logistics Market Overview
The healthcare cold chain logistics market is projected to reach a value of USD 22,024.66 million by 2027 and a 7.89 % CAGR, says Market Research Future (MRFR). The growing modernization and rising concern of pharmaceutical products have chiefly driven the healthcare cold chain logistics market.
The increase in demand for biopharmaceuticals and vaccine needs has propelled the cold chains logistics. The stricter government regulations for handling pharma products with the temperature-sensitive feature are accelerating the market. Moreover, the pharmaceutical sector is enhancing to serve the healthcare needs of the increasing global population is highly propelling the demand of the healthcare cold chain logistics market.
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The increased rate of transportation of pharma products worldwide, higher demand for biopharmaceutical products, and the rise in the number of clinical trials are the key drivers of the market contributing to its growth.
During the pandemic period, the healthcare cold chain logistics market faced problems when the government restricted transportation and trade. It became difficult for the market to minimize their operational costs due to increasing energy costs in this period. The pandemic also impacted the supply chain process of the market, but later due to the change in storage system for increasing the shelf-life, it has driven the market’s growth.
Healthcare Cold Chain Logistics Market Segmentation
The healthcare cold chain logistics market is segmented into product, services, mode of delivery, storage techniques range, temperature range, and end-user.
The product segment is categorized into vaccines, biopharmaceuticals, clinical trial materials, etc. The vaccines segment occupies the largest share and is expected to witness good CAGR value. The service is segmented into transportation, storage, packaging, labeling, and others. The transportation segment will hold the largest market share among others.
The mode of delivery is divided into last-mile delivery and hubs-to-distributor. The hubs-to-distributor segment accounts for the highest share value. The temperature range segment has refrigerated, frozen, ambient, and cryogenic. The refrigerated segment will have the highest market segment based on delivery mode.
The storage techniques range includes electrical refrigeration, dry ice, gel packs, liquid nitrogen, etc. Moreover, the end-user segment is classified into hospitals and clinics, pharmaceutical, biopharmaceutical and biotechnology companies.
Healthcare Cold Chain Logistics Market Regional Analysis
The regional report shows that the healthcare cold chain logistics market is divided into major continents such as the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
The Americas will be occupying the largest market share, and it is further divided into North America and Latin America. The prominent regions of North America, such as the US and Canada, contribute to regional growth. Cold chain logistics is noticing growing investments in the US due to the demand for high-quality pharmaceutical products. The European region is emerging due to the higher demand for shipping pharmaceuticals and the presence of major industrial players.
The Asia Pacific is estimated to notice the highest growth potential during the forecast period due to the presence of emerging countries such as India, China, and South Korea. These countries are emerging due to increased clinical trials, drug manufacturing, and pathology testing. The Middle East and Africa are also showing significant growth due to the presence of rapidly growing countries such as the UAE and Saudi Arabia.
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Healthcare Cold Chain Logistics Market Competitive Outlook
DHL international GmbH, Cavalier Logistics, American Airlines, Inc., Marken, KUEHNE + NAGEL, DB Schenker, AmerisourceBergen Corporation, FedEx are some of the top healthcare cold chain logistics developers in the worldwide industry.
Dokasch (Germany) launched a new high-tech cooler for the safe transportation of vaccines. It protects pharmaceutical vaccines and drugs against high temperatures.
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