Global Healthcare Cold Chain Logistics Market Reached a Value of US$ 9.2 Billion in 2015

IMARC Group’s published report “Global Healthcare Cold Chain Logistics Market Report & Forecast (2016-2021)”, which is the fourth edition of its highly acclaimed publication, provides a complete and intensive study of the global healthcare cold chain logistics market via the analysis of its three key aspects. The first aspect dives into the cold chain distribution process and logistic requirements for various temperature sensitive healthcare products. The second aspect involves assessment of the global healthcare cold chain logistic services market and a detailed insight of its various segments. The third aspect involves the quantification of the global market for temperature sensitive healthcare products into three major classes and evaluation of the current and future opportunities in each of these classes.

The demand for cold chain logistic services arises mainly due to the temperature sensitive healthcare products which require extreme caution in their packaging, storage and transportation so as to maintain their integrity and efficacy. Currently around US$ 252 Billion worth of products in the healthcare industry are temperature sensitive and the market value of these products will surpass US$ 350 Billion by 2021. This will create massive opportunities for companies that can provide efficient cold chain logistic services which will ultimately pave way for a robust growth of the global healthcare cold chain logistics market. According to IMARC Group, the global healthcare cold chain logistic services market has grown at a CAGR of 8.4% during 2008-2015 reaching a value of US$ 9.2 Billion in 2015. Several factors such as rapidly growing market for temperature sensitive healthcare products, increasing compliance with global regulatory requirements for storage, handling and distribution of temperature sensitive materials and increasing outsourcing trends in the pharmaceutical and biopharmaceutical industry have helped in the strong growth of this market.

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The report has analysed the cold chain logistic requirements and opportunities for three major classes of temperature sensitive healthcare products: vaccines, biopharmaceuticals and clinical trial materials. The market for each of these classes is thoroughly analysed with assessment of potential opportunities for cold chain logistic services. Currently, vaccines account for more than 40% of the total global cold chain healthcare logistic services market followed by clinical trial materials and biopharmaceuticals. The market has also been segmented on the basis of types of healthcare cold chain logistic services which include transportation, packaging and instrumentation. In 2015, transportation services accounted for nearly half of the total cold chain logistic services market followed by packaging and instrumentation. However, the growth rates for packaging and instrumentation services are expected to rise significantly faster as compared to the growth rates of transportation services during the forecast period.

The report has also covered the market share analysis of the key regions. North America represents the largest market for healthcare cold chain logistic services accounting for 31% of the total market values in 2015. North America is followed by Europe and Asia Pacific. However, as the cold chain infrastructure is well established in North America and Europe, the growth of the cold chain services market will be slow as compared to the emerging markets of the Asia-Pacific region where the under-developed cold chain infrastructure will provide immense opportunities for future growth. Consequently, Asia-Pacific will represent the fastest growing market during the forecast period. The report has further analysed the competitive landscape with some of the key players operating in the market being World Courier, DHL, FedEx, United Parcel Service, Kuehne and Nagel, Cavalier Logistics, DB Schenker, LifeConEX, American Airlines Cargo, Continental Airlines Cargo and Marken.

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This release was published on openPR.