Global Healthcare Cold Chain Logistics Market Expected to Cross US$ 14 Billion by 2021 With Asia-Pacific as the Fastest Growing Region

Healthcare cold chain logistics can be defined as the supply and distribution chain for healthcare products which require to be stored within a specific temperature range. If these products are stored at a temperature above or below the specified range, their chemical or physicochemical stability may get disrupted resulting in reduced potency or complete ineffectiveness. This can harm the patients and tarnish the reputation of the manufacturers. As a result, cold chain logistics have become an important aspect for the manufacturers as well as the distributers.

As the healthcare industry is becoming more globalised and regulations regarding the transportation and storage of healthcare products are becoming more stringent, manufacturers and distributers of healthcare products are paying more attention to cold chain logistics. They are also willing to increase their spending on transportation and storage to ensure that the quality of the products and patient safety is not compromised. According to IMARC Group, the global healthcare cold chain logistic market reached a value of US$ 9.2 Billion in 2015.

Despite the strong growth experienced by the global healthcare cold chain logistics market, factors such as the absence of a strong and dependable cold chain infrastructure in most countries and the arrival of a number thermostable drugs can hinder its future. However, cold chain logistic service providers are focusing on regions with under developed infrastructure as a means of expanding their business. On the other hand, the rising geriatric population worldwide coupled with the increasing number of temperature sensitive products is also expected to drive the growth of this market during the next few years. As a result, this market is projected to a reach a value of US$ 14.2 Billion by 2021, exhibiting a CAGR of around 7.5% during 2016-2021.

Major Products and Segments

Healthcare cold chain logistics are used to transport a number of pharmaceutical products safely from one place to another. Currently, vaccines account for 40% of the total healthcare cold chain logistics services market representing the largest product category employing these services. Vaccines are followed by clinical trials material and biopharmaceuticals. The spending on cold chain logistics for clinical trials is expected to grow at a slower pace as compared to vaccines and biopharmaceuticals.

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The healthcare cold chain logistics market consists of instrumentation, packaging and transportation services. Currently, transportation services account for the majority of the total cold chain logistic services market followed by packaging and instrumentation services. However, the growth of the packaging and instrumentation services is expected to be significantly faster than that of transportation services.

North America represents the largest market

Currently, North America represents the largest market for healthcare cold chain logistics accounting for nearly a third of the total market share. It is followed by Europe and Asia-Pacific. However, as a result of the well-developed cold chain infrastructure in North America and Europe, the market is expected to witness a relatively slow growth during the next few years as compared to Asia Pacific and Rest of the World.

Asia-Pacific is projected to witness the fastest growth on account of an increasing demand for biopharmaceuticals and vaccines in the region, developing cold chain infrastructure and the rising trend of contract pharmaceutical manufacturing.

Some of the key players operating in this market include Marken, Continental Airlines Cargo, American Airlines Cargo, LifeConEX, DB Schenker, Cavalier Logistics, Kuehne and Nagel, United Parcel Service, FedEx, DHL and World Courier.

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About IMARC Group: IMARC Group is a leading market research and consulting company that offers management strategy and market research worldwide. The company has done multiple projects on the healthcare cold chain logistics industry, which has enabled the clients to successfully set up and expand their businesses. Some of the company’s offerings include:

Market Research
Plant setup
Plant Expansion
Marketing and sales
Procurement and Distribution
Innovation and Product Development

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This release was published on openPR.