Healthcare Cold Chain Logistics Market Information by Product type (Biopharmaceuticals, Vaccines, Clinical Trial Materials and Others), Services (Storage, Transportation, Packaging and Others), Storage Techniques (Electrical refrigeration, Dry Ice, Gel Packs, Liquid nitrogen and Others), By Region (North America, Europe, Asia Pacific, The Middle East & Africa (MEA) and Latin America) – Global Forecast by 2027
The healthcare cold chain logistics market is the fastest emerging market of recent times. The market valuation of the healthcare cold chain logistics market by the year 2023 is predicted to be 16,588.3 million. The compound annual growth rate or CAGR of the market during the assessment period from 2108 to 2023 is estimated to reach around 7.54 percent.
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Healthcare Cold Chain Logistics Market Competitive Dashboard
Some of the major players of the global healthcare cold chain logistics market are KUEHNE + NAGEL, DB Schenker, AmerisourceBergen Corporation, American Airlines, Inc., FedEx, Marken, Cavalier Logistics, and DHL international GmbH , among others.
Healthcare Cold Chain Logistics Market Snapshot
According to MRFR, the global healthcare cold chain logistics market size is slated to reach a valuation of USD 16.58 billion by 2023, maturing at a CAGR of 7.54%. It is expected that the market for cold chain healthcare logistics will benefit from the availability of personalized medicine, in which cold chain logistics plays an integral role in the effectiveness of personalized drugs.
In addition, adopting novel supply chain policies and technologically advanced distribution needs systems also acts in favor of the healthcare market for the cold chain logistics. The flourishing pharmaceutical industry is also boosting demand for cold chain logistics in healthcare to serve the healthcare needs of the growing population global population. An rising number of clinical trials using temperature sensitive materials such as tissue samples, blood samples and certain medicinal products give impetus to the demand for cold chain logistics in the healthcare sector.
Healthcare Cold Chain Logistics Market Segmental Analysis
Based on product type, the healthcare cold chain logistics market has been segmented into clinical trial materials, vaccines, biopharmaceuticals, and others. The vaccine segment has a predominant market-value position. In 2017, the segment exceeded a healthcare cold chain logistics market valuation of USD 3.8 billion. In the meantime, the segment of biopharmaceuticals is expected to post the highest CAGR and outstrip the segment of vaccines by 2023.
Based on services, the healthcare cold chain logistics market has been segmented into transportation, storage, and packaging. The segment of transportation is set to remain highly lucrative in 2018 and beyond. By 2023 the segment is expected to exceed a healthcare cold chain logistics market assessment of USD 7.2 billion.
The healthcare cold chain logistics market was segmented into electrical refrigeration, dry ice, gel packs, liquid nitrogen, and others, based on the storage technique. The segment of electric refrigeration is expected to retain its top position by 2023. In 2017, the segment stood at a market value exceeding USD 4.7 billion.
The healthcare cold chain logistics market was segmented into biopharmaceutical enterprises, hospitals and clinics, research institutes, and others based on end-users. The biopharmaceutical segment holds a dominant market share to achieve a market value of more than USD 6.8 billion by 2023, and the trend is likely to continue throughout the evaluation period.
Healthcare Cold Chain Logistics Market Regional Analysis
The healthcare cold chain logistics market has been covered across regions such as Latin America, North America, Asia Pacific (APAC), Europe, and the Middles East and Africa (MEA).
The Americas dominates the global healthcare cold chain logistics market. In these two regions, particularly in North America, factors such as the presence of a large number of service providers and the existence of a vast pharmaceutical manufacturing sector support market growth. Europe and the Asia Pacific are followed by the Americas, respectively.’
In Asia Pacific, developing nations like India are expected to contribute enormously to the growth of the healthcare cold logistics chain market. This is because of the extensive exports of pharmaceutical products from these nations to underdeveloped and emerging countries to serve their health care needs. For the safe delivery of pharmaceutical products, this requires reliable cold chain logistics.
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