The Global Healthcare Cold Chain Logistics Market Size is valued at 948.73 billion in 2022 and is predicted to reach 1357.60 billion by the year 2031 at a 4.2% CAGR during the forecast period for 2023-2031.
The development of numerous cutting-edge therapies using human cells has prompted a rise in the demand for temperature-controlled items, particularly pharmaceutical ones, which has fueled the expansion of the healthcare cold chain logistics industry. The prevalence of chronic diseases has increased demand for modern healthcare goods and services and better medical care, particularly in rural areas. The need for the secure transportation of pharmaceutical products has resulted from this.
Healthcare manufacturers increasingly need specialized cold chain logistics services to provide hospitals, home care patients, labs, and other healthcare facilities with large volumes of pharmaceuticals in an efficient manner, which spurs the market's expansion.
However, the quality and adaptability of available cold warehouse space are significant difficulties for the cold chain sector due to a lack of standards and accreditations. Globally, there is an increase in healthcare cold chain logistics used to preserve medical supplies. This is one of the main factors influencing the market, coupled with the growing pharmaceutical industry. Additionally, the necessity for safe medicine transportation and storage has increased in the healthcare industry without affecting the effectiveness of the drugs.
The market is expanding as a result of this as well as other advantages offered by healthcare cold chain logistics, such as the seamless integration of operations throughout shipping and distribution.
Recent Developments:
- In Nov 2022, FedEx Express, a subsidiary of FedEx Corp, has announced the seventh edition of 'SME Connect' on 'Emerging Possibilities for SME's in Pharma, Healthcare, and Life Science.This installment of the FedEx SME Connect series concentrates on business insights from industry leaders on pharma and healthcare trends, opportunities, and challenges.
Competitive Landscape:
Some of the Healthcare Cold Chain Logistics market players are:
- AmerisourceBergen Corporation (U.S.)
- CAVALIER LOGISITICS (U.S.)
- Continental Carbon Company (U.S.)
- DHL International GmbH (Germany
- FedEx (U.S.)
- Kuehne+Nagel (Germany)
- Deutsche Post AG (Germany)
- LifeConEx (U.S.)
- American Airlines Inc. (U.S.)
- Air Charter Service (India)
- Agility Public Warehousing Company (U.S.
- VersaCold Logistics Services (Canada),
- Delhivery Limited (India)
- YUSEN LOGISTICS CO., LTD. (India)
- V-Xpress (India)
- FulfillmentHubUSA (U.S.)
- Prompt Brazil Logistics (Brazil)
Market Segmentation:
The healthcare cold chain logistics market is segmented based on type, services and storage techniques. The market is segmented based on type as biopharmaceuticals, vaccines, clinical trial materials, and others. The market is segmented by application into storage, transportation, packaging and others. The market is segmented by storage as electrical refrigeration, dry ice, gel packs, liquid nitrogen, and others.
The Biopharmaceutical Segment Is A Major Contributor To The Healthcare Cold Chain Logistics Market Based On Type
The biopharmaceuticals category will hold a major global market share in 2022. Because this sector is the primary manufacturer of temperature-sensitive healthcare products and requires cold chain logistics to ensure effective and timely delivery of medications to patients as well as to receive raw materials like APIs to develop various biopharmaceutical products, biopharmaceutical/biotech companies predominate the end-user segment. It has been noted recently that cold chain logistics investment is rising and is helping the market expand.
The Transportation Segment Witnessed Growth At A Rapid Rate
The transportation segment is projected to grow rapidly in the global market. The logistics chain depends heavily on transportation. Hence it accounted for the largest revenue share of the market. Because the products must be carried to the final consumer, transportation is the most important component of cold chain logistics. There is an increasing demand for temperature-controlled transportation to preserve the quality of goods.
The North American Healthcare Cold Chain Logistics Market Holds A Significant Revenue Share
The North American market is expected to register a tremendous market share in revenue soon due to the nation's cutting-edge healthcare system and significant pharmaceutical businesses. The healthcare cold chain logistics market has expanded due to the rising demand for biopharmaceutical products, including gene and cell therapies. In addition, the Asia Pacific region is expected to grow rapidly in the global healthcare cold chain logistics market.
The market is fueled by top pharmaceutical firms like Novartis, Roche, and Sanofi in the area. To preserve the effectiveness and integrity of their products, these businesses demand effective and secure storage and transportation solutions. Moreover, the market expansion for healthcare cold chain logistics in Europe is anticipated to be further fueled by the rising demand for personalized medications and the expanding use of gene and cell therapies.
Healthcare Cold Chain Logistics Market Report Scope:
|
Report Attribute |
Specifications |
|
Market Size Value In 2022 |
USD 948.73 Bn |
|
Revenue Forecast In 2031 |
USD 1357.60 Bn |
|
Growth Rate CAGR |
CAGR of 4.2 % from 2023 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
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Forecast Year |
2023-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
Age Group, Education Type And Occupation. |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; South East Asia |
|
Competitive Landscape |
AmerisourceBergen Corporation (U.S.), CAVALIER LOGISITICS (U.S.), Continental Carbon Company (U.S.), DHL International GmbH (Germany), FedEx (U.S.), Kuehne+Nagel (Germany), Deutsche Post AG (Germany), LifeConEx (U.S.), American Airlines Inc. (U.S.) Air Charter Service (India), Agility Public Warehousing Company (U.S.), VersaCold Logistics Services (Canada), Delhivery Limited (India), YUSEN LOGISTICS CO., LTD. (India), V-Xpress (India), FulfillmentHubUSA (U.S.), Prompt Brazil Logistics (Brazil) |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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