Temperature Controlled Pharma Packaging Solutions Market is projected to rise at 7.8% CAGR and reach a valuation of US$ 7.4 Bn by 2030

The market for temperature-controlled pharmaceutical packaging solutions is anticipated to grow at a 7.8% CAGR and increase from US$ 4 billion in 2022 to US$ 7.4 billion in 2032. Temperature controlled pharma packaging solutions currently account for 45% share of the global temperature controlled packaging market. A new study of Future Market Insights (FMI) on the global temperature controlled packaging solutions market has projected the market valuation to surpass US$ 9 Bn by the end of forecast period, 2020 - 2030. However, the market is most likely to witness a decline in the first two quarters.

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The temperature controlled pharma packaging solutions are recyclable and cost-effective. These systems are designed and validated as per the standards for ensuring product safety. The temperature controlled pharma packaging solutions are primarily used for packaging of biological products and samples, vaccines, pharmaceutical ingredients, and many others.

Complications across supply chains, caused by the worldwide coronavirus outbreak further accelerate the need for enhanced shelf-life of pharma products during shipment and cold storage. Growing preference for active packaging solutions among end users will also be important trend over the next decade.

Key Takeaways of Temperature Controlled Pharma Packaging Solutions Market Study

Insulated shippers will hold a maximum market share during 2020-2030, attributable to extreme temperature control.
EPS foam containers type of insulated shipper is expected to remain lucrative in terms of market share and incremental revenue opportunity, during 2020-2030
As per FMI analysis, the temperature controlled pharma packaging solutions are mostly used for chilled applications. This application segment is expected to expand by 150 bps of current market share, by 2030.
North America is expected to hold the leading position in the global temperature controlled pharma packaging solutions market in the next decade.
Temperature Controlled Pharma Packaging Solutions Market Landscape

The global temperature controlled pharma packaging solutions market is highly competitive and local and unorganized players are participating to leverage the significant growth opportunities. Key players focus on product innovation and acquisitions with an aim to increase their global presence and customer base in the global temperature controlled pharma packaging solutions market.

For Instance,

In January 2020, Sonoco Products Company acquired Thermoform Engineered Quality, LLC, and Plastique Holdings, LTD, a leading manufacturer of thermoformed packaging serving healthcare, medical device and consumer markets, from ESCO Technologies, Inc. by investing US$187 million. Through this acquisition the company is planning to enhance its product portfolio and increase customer reach.
In February 2020, Pelican Biothermal announced the opening of a network station in Toronto to service its Crēdo™ on Demand rental program. 
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Key Companies Profiled

Sonoco Products Company
Pelican Biothermal
Sofrigam SA Ltd.
Cryopak
Cold Chain Technologies
Envirotainer Ltd.
va-Q-tec AG
Inmark Packaging
American Aerogel Corporation
About Temperature Controlled Pharma Packaging Solutions Market Report

Future Market Insights, in its new report, offers an unbiased analysis of the global temperature controlled pharma packaging solutions market, analyzing historical demand from 2015-2019 and forecast statistics for 2020-2030. The study offers growth projections on the temperature controlled pharma packaging solutions market based on product (insulated shippers {panels and envelopes, fiberboard, EPS foam container, and PUR}, insulated containers {chest style and upright style}, insulated protective shippers, and others) and application (frozen, chilled, and ambient) across seven key regions.

Key Segments Of Temperature Controlled Pharma Packaging Solutions Industry Survey

Temperature Controlled Pharma Packaging Solutions Market By Product :

Insulated Shippers
Panels and Envelopes
EPS Foam Containers
Fiberboards
PUR Containers
Insulated Protective Shippers
Insulated Containers
Chest Style
Upright Style
Others (Refrigerants, Gel, Icepacks, Phase Change Materials, etc.)
Temperature Controlled Pharma Packaging Solutions Market By Application :

Frozen Temperature Controlled Pharma Packaging Solutions
Chilled Temperature Controlled Pharma Packaging Solutions
Ambient Temperature Controlled Pharma Packaging Solutions
Temperature Controlled Pharma Packaging Solutions Market By Region :

North America Temperature Controlled Pharma Packaging Solutions Market
Latin America Temperature Controlled Pharma Packaging Solutions Market
Europe Temperature Controlled Pharma Packaging Solutions Market
East Asia Temperature Controlled Pharma Packaging Solutions Market
South Asia & Pacific Temperature Controlled Pharma Packaging Solutions Market
Middle East & Africa (MEA) Temperature Controlled Pharma Packaging Solutions Market
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.