The Global Healthcare Cold Chain Logistics Market will grow from USD $ XX billion in 2019 to USD $XX billion by 2027 with a compound annual growth rate (CAGR) of XX% for the period of 2019-2027.
Cold chain is a logistics management process for products that require the refrigerated temperatures that customers demand. It’s a process since it involves performing a chain of tasks to prepare, store, and transport products along the cold supply chain. The main advantage of cold supply chain in pharmaceutical is to ensure effective vaccine storage, handling, and stock management.
The report on the Global Healthcare Cold Chain Logistics Market gives an estimation of the development of the market based on historical studies and also provides forecasts based on a comprehensive research. The report gives a complete market analysis for the forecast period from 2019 to 2027.
The market is divided into various segments with an in-depth outlook of the competitors and a listing of the profiled key players. Some of the major key players in the global market includes AmerisourceBergen Corporation, DB Schenker, FedEx, Marken, American Airlines Inc. The market size in terms of revenue and volume is calculated and provided for the study period along with the dynamics of the market such as the drivers and the restraints.
Global Healthcare Cold Chain Logistics Market Dynamics
Cold chain healthcare logistics plays an important role in solving the current issue regarding food storage and food security. The advantages of employing Cold chain logistics are increasing the availability of produce in lean season, increasing the affordability and accessibility by streamlining the supply chains, improving the quality of the produce, employment generation and improving the economic status of the stakeholders.
Development of cluster/ commodity specific supply chains and gradual integration of other minor supply chains in the given region, Utilization of railway network, creation of front end infrastructure for undeveloped markets, promotion of research through public private partnership for commercialization and development of relevant skill development modules are the major factors driving the global market during forecast period.
Rising demand from consumers for Perishable food, including fruits, vegetables, dairy products, meats and fish products, needs to be kept in a chilled or frozen state along the entire supply chain. Ever-increasing spread of foodborne illness caused more than 120,000 hospitalizations and 3000 deaths, generated the scope for growth of global market. Large amounts of food waste recently indicate that improvements have to be managed by increasing focus on cold chain logistics. In terms of healthcare production excess capacity, flexible manufacturing and presence of many smaller plants drive the cold chain logistics market during forecast period.
Development of Digital Supply Chain Tracking Tools
Digital cold chain tracking tools helps to make sure that there is a continuous flow of stock into the business without unnecessary interruptions in the deliveries. These tools are necessary for ensuring that the production processes do not stop indefinitely, which may affect customer service. Hence, the involvement of upcoming digital pieces of software and tools are driving the global market in the forecast period.
Global Healthcare Cold Chain Logistics Market is segmented based on Product Type, Services, Storage Techniques and Region.
Global Healthcare Cold Chain Logistics Market, By Product Type
● Biopharmaceuticals
● Vaccines
● Clinical Trial Materials
● Others
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Cold supply chain logistics is gaining significant importance in the healthcare industry due to the huge escalating demand for temperature-controlled storage and shipping of pharmaceutical products such as vaccines.
Vaccines are biological products that can be damaged by high temperatures, freezing temperatures, and excessive light. They are generally effective for a limited period of time at room temperature. Inappropriate transportation and improper storage of vaccines might lead to a decrease in vaccine effectiveness. The vaccine segment commands the largest market share of XX% by 2027, as it creates the great opportunities for the growth of the global healthcare cold chain logistics market.
Successful immunization programmes are built on functional, end-to-end supply chain and logistics systems. The objective of cold chain logistics is to ensure the uninterrupted availability of quality vaccines from manufacturer to service-delivery levels, so that opportunities to vaccinate are not missed because vaccines are unavailable.
The success of routine immunization programmes, national vaccine supply chains are now strained to effectively manage the surge of new vaccine introductions, adapt to the needs of new delivery strategies, or benefit from new technological advances in cold chain equipment to increase their efficiency and effectiveness. WHO has prioritized cold chain logistics as a key building block of the Global Vaccine Action Plan (GVAP).
Logistics Management Information Systems (LMIS) and supportive management functions are effective, including standard operating procedures and vaccine-needs forecasting.
Global Healthcare Cold Chain Logistics Market, By Services
● Storage
● Transportation
● Packaging
● Others
The transportation segment commanded the largest market share of XX% by 2027.
The national supply chain system has sufficient and quality cold storage, dry storage and transport storage capacity to accommodate all vaccines, diluents and injection supplies needed for the national immunization programme.
The status and the layout of storage buildings, cold-chain equipment and vehicles enable the supply chain system to function effectively. Standard and operational preventive & curative maintenance systems for storage buildings, cold-chain equipment and vehicles used to distribute vaccines and therapeutics, which in turn drive the global healthcare cold chain logistics market during forecast period.
Many components of cold chain logistics come together for effective and efficient service delivery involving detailed planning, skilled managers and vaccinators. Continuous supplies and logistics, costing assessments & communication and advocacy of the benefits of vaccination boost the global market. As a result transportation of healthcare product segment is expected to command the largest market share of XX% by 2027.
Global Healthcare Cold Chain Logistics Market, Storage Technique
● Electrical refrigeration
● Dry Ice
● Gel Packs
● Liquid nitrogen
● Others
Investment in the cold chain, specifically in pre-cooling and transport refrigeration equipment, can reduce food loss by 76 percent and CO2 equivalent emissions by 16% in India.
Increased emphasis on energy efficiency, lowering CO2 footprint and increased demand for cooling requirements have led global healthcare cold chain market to scout for new technologies. The use of solar energy in the electrical refrigerators is the preferred choice for key players to grow the global market in the forecast period. Use of solar cells to run conventional refrigeration systems and converting solar thermal energy into cooling is creating the opportunity for the global market segment.
Thermal energy storage systems like Phase Change Materials are also finding increased applications in transport and packaging systems and can be used in places where the usage of conventional systems is not feasible. Magnetic Refrigeration System (MRS) is another future technology, which is great alternative to vapour compression systems, hence creates the greater opportunity for global market in the forecast period.
Refrigerators can moderate parameters like temperature, humidity, and atmospheric composition, along with utilizing proper handling procedures. As a result cold chain can significantly increase the product life of fresh foods for days, weeks or even months. These services allow fresh products to hold their value longer, increasing their transportability and providing opportunities that expand their market reach. As a result, the segment command the largest market share of XX% by 2027.
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Global Healthcare Cold Chain Logistics Market, By Region
Global Healthcare Cold Chain Logistics Market1
Asia Pacific commanded the largest market share of XX% by 2027.
Increasing number of clinical trials employing temperature sensitive materials like blood sample, tissue sample and certain drugs, has stimulated the market growth in this region. Growing vaccine demand from the various regions and ongoing COVID-19 outbreak has significantly created huge demand for temperature controlled storage for vaccines and therapeutics across the globe. Increasing outsourcing trends in the pharmaceutical and biopharmaceutical industry from Asia Pacific, the cold chain logistics demand for drugs, vaccines and clinical trial materials is expected to increase significantly.
India is the second largest producer of fruits and vegetables, the largest producer of milk and one of the leading producer of meat and fish. Growing production, increases the need for cold chain logistics management results in good transportation of products and increase the susceptibility of food. Addressing the issue of perishability, Cold chain extends the shelf life and thus usability of the commodity in its best form.
Key Players Operating in the Global Healthcare Cold Chain Logistics Market
● AmerisourceBergen Corporation
● DB Schenker
● FedEx
● Marken
● American Airlines Inc.
● Cavalier Logistics
● DHL international GmbH
● KUEHNE + NAGEL
● World Courier
● United Parcel Service
● Cavalier Logistics
● DB Schenker
● Life ConEx
● Continental Air Cargo
● Cryoport
● GAC
● Lynden International Logistics
● PAREXEL
● Yusen Logistics
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