The Global Reefer Container For Pharmaceutical Market Size is valued at USD 3.6 billion in 2023 and is predicted to reach USD 4.9 billion by the year 2031 at a 3.9% CAGR during the forecast period for 2024-2031.
The reefer container is a type of chilled container that is used for intermodal freight shipping in the pharmaceutical industry. It is most frequently used for the transportation of vaccinations, blood, medications, biological samples for analysis, and derivatives. A number of factors, such as the growth in global trade, the ease of navigation, faster turnaround times at terminals, and potential for expansion in international trade, are driving the need for reefer containers for pharmaceutical industry. The increased preference for maritime trade over business operations associated to aviation is likely to drive growth in the reefer container for pharmaceutical market.
The development and distribution of temperature-sensitive pharmaceutical products has advanced recently, leading to the need for more complex cold-chain procedures than in the past. Examples of these products include novel oncology treatments, COVID-19 vaccines, cell and gene (CGT) therapies, biologic therapies to treat rare and chronic diseases, and vaccines against other infectious diseases. Along with continued acceptance and impending technological developments in the cold chain, rising investment in this sector is also posing a possible chance to accelerate market dynamics, which is expected to shape the reefer container for pharmaceutical industry outlook during the estimate period.
Competitive Landscape
Some of the major key players in the reefer container for pharmaceutical market are:
- P. Moller - Maersk
- Blue Sky Intermodal
- Carrier Transicold
- China International Marine Containers (Group) Ltd
- CMA CGM Group
- COSCO SHIPPING Development Co., Ltd.
- Daikin Reefer
- Danteco Industries BV
- Evergreen Marine Corporation
- Hapag-Lloyd
- Hyundai Translead
- Klinge Corporation
- MSC Mediterranean Shipping Company
- NewPort Tank
- Seaco Global Limited
- Singamas Container Holdings Limited
- Thermo King
- TLS Offshore Containers/TLS Special Containers
- Triton Container International Limited
- W&K Containers, Inc.
- ZIM Integrated Shipping Services
- Other Prominent Players
Market Segmentation:
The reefer container for pharmaceutical market is segmented based on container size, mode of transportation, and technology. Based on container size, the market is segmented into 20 feet, 40 feet, and high cube. By mode of transportation, the market is segmented into roadways, railways, and seaways. By technology, the market is segmented into conventional reefer and advanced reefer.
Based On The Container Size, The High Cube Segment Is Accounted As A Major Contributor To The Reefer Container For Pharmaceutical Market
The high cube category is expected to hold a major global market share in 2023 because of their higher height, which allows extra storage space beyond the standard containers. This extra space is highly utilized in moving larger or bulkier pharmaceutical products, such as high-volume drug shipments or specialty medical supplies. While the volume is higher in these containers, strict temperature control is still maintained to keep the temperature-sensitive pharmaceuticals intact. They are also preferred because of their flexibility and the capacity they provide with regard to efficient and safe pharmaceutical logistics.
Seaways Segment To Witness Growth At A Rapid Rate
Due to their ability to transport vast quantities of cargo over great distances, seaways hold the biggest market share in the pharmaceutical reefer container industry. It is an essential means of international trade; without it, the idea of transporting vaccinations and medications in bulk would never have been possible, as they require constant temperature control throughout the entire trip. It is the most practical choice for international pharmaceutical logistics because of its extensive global shipping network, which covers all possible routes. Its scope and ability allow for the responsible and affordable global distribution of numerous essential drugs.
In The Region, The North American Reefer Container For Pharmaceutical Market Holds A Significant Revenue Share.
The North American reefer container for pharmaceutical market is expected to register the highest market share in revenue in the near future. In North America, the pharmaceutical business has grown mostly due to government initiatives supporting international trade and the growing need for blood plasma, vaccinations, and refrigerated drugs. In addition, the US is pursuing trade liberalization through accords and policies that support economic growth by easing the export of necessities like prescription drugs.
In addition, Asia Pacific is projected to grow rapidly in the global reefer container for pharmaceutical market. Investments in cutting-edge manufacturing technologies and automation that raise the caliber and productivity of reefer containers used in pharmaceutical manufacture are major drivers of growth in the Asia-Pacific region. In order to establish themselves as world leaders in efficient manufacturing and the subsequent development of the reefer container for the pharmaceutical business, a few Chinese manufacturers have embraced cutting-edge technology and software solutions.
Reefer Container For Pharmaceutical Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 3.6 Bn |
|
Revenue Forecast In 2031 |
USD 4.9 Bn |
|
Growth Rate CAGR |
CAGR of 3.9% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Container Size, Mode Of Transportation, And Technology |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
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; Southeast Asia |
|
Competitive Landscape |
Danteco Industries BV, NewPort Tank, COSCO SHIPPING Development Co., Ltd., Singamas Container Holdings Limited, TLS Offshore Containers/TLS Special Containers, A.P. Moller – Maersk, Daikin Reefer, Carrier Transicold, China International Marine Containers (Group) Ltd, W&K Containers, Inc., Thermo King, Klinge Corporation, MSC Mediterranean Shipping Company, Hyundai Translead, Triton Container International Limited, Evergreen Marine Corporation, Seaco Global Limited, Blue Sky Intermodal, CMA CGM Group, ZIM Integrated Shipping Services, and Hapag-Lloyd. |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Geographic competitive landscape. |
|
Pricing and Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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