Market Study
The rise in need to meet pharmaceutical industry standards to deliver temperature-sensitive products, such as lab samples and vaccines is driving the need for temperature controlled packaging. Market Research Future (MRFR), in its latest report reveals the impact of COVID-19 pandemic on the temperature controlled packaging market 2020.
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Drugs such as, insulin and other used for cancer treatment that require constant temperature control in order to maintain stability can cause the market to surge. MRFR study shows that the world temperature controlled packaging for pharmaceutical market can thrive at 9.48% CAGR across the study period 2018-2023. The temperature controlled packaging for pharmaceutical market value can increase from USD 5,116.0 Mn to USD 8,762.4 Mn from 2018 to 2023.
Market Segmentation
Temperature range, end-use industry, product, type, payload capacity, and type of use are parameters used for the global temperature-controlled packaging for pharmaceutical market segment study.
The product-based segments of the temperature-controlled packaging for pharmaceutical market are insulated containers and insulated shippers. The insulated shippers segment can dominate the market across the review period.
The type based segments of the global temperature-controlled packaging for pharmaceutical market are passive systems and active systems. The active systems segment can rise at 9.14% CAGR and value at USD 3,587.7 Mn by end of the forecast period.
The temperature range based segments of the temperature-controlled packaging for pharmaceutical market are 10°C to 20°C, Up to 10°C, and More than 20°C. The up to 10°C segment can value at USD 4,329.4 Mn at 9.93% CAGR in the forecast period.
The payload capacity based segments of the global temperature-controlled packaging for pharmaceutical market are 10-20 L, Up to 10 L, 40-150 L, 20-40 L, and More than 150 L. The up to 10 L segment can value above USD 1,678.4 Mn on the conclusion of the review period. The segment can rise at 9.53% CAGR. The 40-150 L segment is highly growing segment and can rise at 9.88% CAGR in the forecast period.
The type based segments of the global temperature-controlled packaging for pharmaceutical market are re-usable and single-use. The single-use segment can value above USD 4,549.1 Mn on the conclusion of the review period.
The end-use based segments of the temperature-controlled packaging for pharmaceutical market are clinical trialand pharmaceutical. The pharmaceutical segment can thrive at 10.08% CAGR in the forecast period.
Competitive Landscape
DB Schenker, Sonoco ThermoSafe, Cold Chain Technologies, Sofrigam, United Parcel Service of America, Inc. (UPS), , KUEHNE + NAGEL INC, Softbox Systems Limited DHL International GmbH, Pelican Bio Thermal, Envirotainer AB, Storopack va-Q-tec AG, and Hans Reichenecker GmbH are some notable players in the world temperature-controlled packaging for pharmaceutical market.
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Regional Analysis
In North America, the temperature-controlled packaging for pharmaceutical product market is observed to hold great potential. Factors that are responsible for the rise of the market in the region are stringent safety policies of pharmaceutical products. The US and Canada can rise at a high pace across the review period.
In Europe, the emerging temperature controlled packaging for pharmaceutical products market. The introduction of effective goods distribution practices can underline the rise of the market across the review period. The development in novel packaging solutions can cause Europe market to thrive at 9.42% CAGR in the forecast period.
In Asia Pacific, the temperature controlled packaging for pharmaceutical products market holds several growth prospects. The high investment in RD rise in pharmaceutical spending by government of different countries of the region can support the expansion of APAC market.
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