The Global Biopharma Cold Chain Logistics Package market size is estimated to grow at a CAGR of more than 7% during the forecast period 2020-2027.
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The key factors supporting the growth of cold chain logistics package in biopharma industry are increasing demand of temperature-sensitive biopharmaceutical products and boost in trading activities of over-the-counter drugs across the globe. Moreover, COVID-19 has major impact on the global biopharma cold chain logistics package market, countries are increasingly trading vaccines, medicines, injections, and other pharmaceutical products worldwide. For instance, recently, the U.S. Food & Drug Administration (FDA) has approved emergency usage of authorization (EUA) for drug hydroxyl-chloroquine to be used as an antibiotic for the patients suffering with COVID-19 symptoms; the drug is majorly produced in India and significantly traded across the world on demand.
Increasing focus of pharma companies on using advanced technologies is acting as a key trend that influence the positive market growth. For instance, in September 2020, DHL Global Forwarding announced technology advancements to its division of life science services division, to fulfill the growing demand of pharma logistics and to counter the disruption caused due to COVID-19 pandemic globally.
Competitive Landscape of the Global Biopharma Cold Chain Logistics Package Market
Aeris Group, American Aerogel Corporation, Beijing Roloo Technology CO., Ltd., Cold Chain Technologies, Cool Pac, Cryo Store, Cryopak, CSafe, DS Smith Pharma, Dokasch, EcoCool GmbH, Exeltainer SL, Envirotainer, Guangzhou CCTS, HAZGO, Inmark Packaging, Insulated Products Corporation, Intelsius, Pelican Biothermal, Skycell, Sofrigam SA Ltd., Softbox Systems, Sonoco Products Company, Va-Q-tec AG, World Courier are some of the key companies included in the research study of the global biopharma cold chain logistics package market.
Companies are focusing on novel technologies and investing aggressively in supply chain processes to minimize wastage and losses. Moreover, they are adopting various competitive strategies to create dominance or a key presence in the global marketplace. Some of the key strategies are product launches, mergers and acquisitions, collaborations, partnerships and others.
Regional Overview of the Global Biopharma Cold Chain Logistics Package Market
North America accounted to hold the largest market share in the global marketplace in the year 2019. The regional market growth is attributed to presence of key companies in the US and Canada, the concerned market players are undertaking various strategic initiatives to hold majority of the market share during the forecast period. For instance, in August 2018, AmerisourceBergen Corporation (ICS) opened its new third-party logistics and distribution center in Ohio, the facility is estimated to be around 350,000 sq. ft.; with the expansion logistics and distribution chain, the company is focusing on to strengthen its distribution capabilities with embedded state of art technology.
Both Canada and the U.S. have a well-developed pharma logistics and distribution infrastructure, which highly contributes to dominance of the regional marketplace. As per the data published by the World Health Organization and the Parenteral Drug Association (PDA), more than 25% of transported vaccines reach at wrong target destination and temperature excursion is responsible for nearly 20% product damage.
Segmentation Overview of the Global Biopharma Cold Chain Logistics Package Market
The global biopharma cold chain logistics package market is segmented on the basis of product and industry. These categories are further segmented into:
Based on product, the global market is segmented into:
- Single Use
Based on industry, the global market is segmented into:
- Blood Products
Based on channel, the global market is segmented into:
- Direct Sales
Based on region, the global market is segmented into:
- North America
- The U.S.
- The U.K.
- Rest of Europe
- Asia Pacific
- South Korea
- Australia & NZ
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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