Pharmaceutical Industry Today
Vaccine Cold Chain Logistics Market Expected to Reach US$ 4.90 Billion by 2030 - Growing Beyond COVID-19 Application
InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Vaccine Cold Chain Logistics Market By Services (Storage, Packaging, And Transportation), By Packaging Methods (Dry Ice, Liquid Nitrogen, Gel Packs), Mode Of Transportation (Ground, Air, Ocean), Holding Temperature Range (Vaccines Requiring Refrigerated Temperature, Vaccines Requiring Frozen Temperature, Vaccines Requiring Cryogenic Temperature), Containers (Active Containers, Passive Containers))- Trends, Industry Competition Analysis, Revenue and Forecast To 2030."
According to the latest research by InsightAce Analytic, the global vaccine cold chain logistics market is valued at US$ 2.84 billion, and it is expected to reach US$ 4.90 billion by 2030, with a CAGR of 5.2% during the forecast period of 2022-2030.
The major players in the market includes Cryoport, DHL Express, GAC, Lynden International Logistics, PAREXEL, United Parcel Service, Yusen Logistics, DB Schenker, CEVA Logistics, Q1 Scientific, AmeriCold Logistics LLC, FedEx Corporation, Sofrigam, Sartorius AG, Intelsius, Envirotainer, Coldman Logistics, B Medical Systems, CSafe and Other Prominent Players.
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The "cold chain logistics" service permits temperature-controlled packaging, storage, and transportation to safeguard temperature-sensitive products, particularly in the pharmaceutical industry. It helps maintain the efficacy and expiration life of pharmaceuticals, vaccines, biopharmaceuticals, and other products. In September 2021, Leaf Expression Systems (Leaf) made its début. Several factors, including the rising demand for mRNA-based vaccines, the growing demand for effective cold chain logistics services to maintain product quality, the high demand for infectious diseases vaccines, expanding public awareness of health and wellness, innovations in packaging and shipping technologies, rising healthcare costs, and rising R&D investments to discover new vaccines, can be attributed to the expansion of the cold vaccine chain logistics market. Due to the massive increase in demand for vaccine storage services caused by the COVID-19 pandemic, pharmaceutical companies have prioritized cold chain logistics. Due to the increased R&D initiatives, the vaccine challenging chain logistics market will likely experience new growth opportunities in the coming years. The market will expand due to consumer demand for perishable products like dairy, fruits, vegetables, and non-vegetables. However, additional resources or technological advancements for high-quality cold chain facilities are anticipated to be required to ensure market growth. The market will grow faster if this software is utilized more frequently in all complex chain logistics sectors. The rapid expansion of distribution channels, such as supermarkets, hypermarkets, and convenience stores, is anticipated to stimulate market growth.
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The pharmaceutical industry, expanding to satisfy the healthcare needs of a growing global population, is driving the demand for vaccine cold chain logistics. As various types of healthcare products require a high level of preservation and safety, it is anticipated that the expansion of the pharmaceutical industry will accelerate the growth of the healthcare cold chain logistics market throughout the forecast period. In addition to the development of the Covid-19 vaccine, the expanding pharmaceutical industry, advances in disease research, increased spending on R&D for vaccine development, and an increase in refrigerated factories are expected to propel the vaccine cold chain logistics market over the forecast period.
In most nations, reimbursement delays pose a significant barrier to market expansion. The reimbursement procedure for cold chain logistics in healthcare is complicated. The complexity of the reimbursement procedure alone challenges the market. Since reimbursement procedures vary by country, the market cannot expand. Consequently, reimbursement is necessary for the expansion of businesses in developing nations. During the forecast period, the market expansion is anticipated to be hampered by high operational costs and the need for established standards for managing cold chain transportation.
North America's vaccine cold chain logistics market is anticipated to register a significant market share. A surge in the development of vaccines, such as mRNA and Covid-19, is expected to contribute to the expansion of the market in developing nations. COVID-19 vaccines necessitate specific cold chain requirements from production to distribution to warehouses and healthcare facilities.
In addition, the Asia-Pacific region is anticipated to proliferate during the forecast period due to increased government expenditure on cold chain logistics infrastructure. Regional market expansion is driven by the increased emphasis on healthcare cold chain logistics to store vaccines at controlled temperatures for vaccination efforts. Japan, South Korea, China, and India have experienced the most growth. Several nations are enacting stringent regulations to ensure the safe usage of temperature-sensitive pharmaceuticals.
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Key developments in the market
· In Nov 2022,UPS has completed its previously announced acquisition of Bomi Group, a leading multi-national healthcare logistics business. UPS Healthcare, the company's healthcare division, will add temperature-controlled facilities in 14 countries, as well as 3,000 highly experienced professionals to the UPS team across Europe and Latin America, as a result of the acquisition.
· In July 2022, DHL Express increased its air network by launching its first dedicated freight route between the United States and Brazil. The new connection to Brazil is part of DHL Express' overall expansion plan in the Americas, which includes expenditures totaling more than USD $360 million between 2020 and 2022. The airline is continuing to expand its air cargo capacity in order to meet rising freight demand, particularly from the e-commerce sector.
· In Oct 2022, Yusen Logistics will launch a direct ocean freight forwarding service from Chattogram port in Bangladesh to Tokyo and Kobe in October. Yusen Logistics will launch its own centralised direct ocean freight forwarding service from Bangladesh to Japan to fulfil the increased demand for transportation, notably for garment cargoes.
· In Aug 2022, Azenta, Inc. has reached an agreement to acquire B Medical Systems S.á r.l. and its subsidiaries. This acquisition expands Azenta's cold chain capabilities by providing distinct solutions for the safe and traceable transportation of temperature-sensitive specimens. As part of Azenta, B Medical will get substantial knowledge and engineering in sample management and an expanded market presence in North America and Europe.
· In Oct 2021, Marken, UPS Healthcare's clinical trial logistics division, has expanded its global network to meet rising demand for its clinical drug supply chain services, notably for cell and gene clinical trials. Plans for 2021 and 2022 will support increased demand for mRNA therapeutics, cell and gene therapies, early access, and controlled access initiatives. New sites, enhanced cold chain services, and packaging solutions are among the expansion goals.
· In Sept 2021, Lynden International stated that it will begin performing business as Lynden Logistics, Inc. ("Lynden Logistics") to better reflect its entire range of capabilities and services.
Global Vaccine Cold Chain Logistics Market, by Services, 2022-2030 (Value US$ Mn)
Global Vaccine Cold Chain Logistics Market, by Packaging Methods, 2022-2030 (Value US$ Mn)
· Dry Ice
· Liquid Nitrogen
· Gel Packs
Global Vaccine Cold Chain Logistics Market, by Mode of Transportation, 2022-2030 (Value US$ Mn)
Global Vaccine Cold Chain Logistics Market, by Holding Temperature Range, 2022-2030 (Value US$ Mn)
· Vaccines Requiring Refrigerated Temperature
· Vaccines Requiring Frozen Temperature
· Vaccines Requiring Cryogenic Temperature
Global Vaccine Cold Chain Logistics Market, by Container, 2022-2030 (Value US$ Mn)
· Active Containers
· Passive Containers
Global Vaccine Cold Chain Logistics Market, by Region, 2022-2030 (Value US$ Mn)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
North America Vaccine Cold Chain Logistics Market, by Country, 2022-2030 (Value US$ Mn)
Europe Vaccine Cold Chain Logistics Market, by Country, 2022-2030 (Value US$ Mn)
- Rest of Europe
Asia Pacific Vaccine Cold Chain Logistics Market, by Country, 2022-2030 (Value US$ Mn)
- South Korea
- Australia & New Zealand
Latin America Vaccine Cold Chain Logistics Market, by Country, 2022-2030 (Value US$ Mn)
- Rest of Latin America
Middle East & Africa Vaccine Cold Chain Logistics Market, by Country, 2022-2030 (Value US$ Mn)
- GCC Countries
- South Africa
- Rest of Middle East & Africa
Why should buy this report:
Ø To receive a comprehensive analysis of the prospects for the global Vaccine Cold Chain Logistics Market
Ø To receive an industry overview and future trends of the Vaccine Cold Chain Logistics Market
Ø To analyze the Vaccine Cold Chain Logistics Market drivers and challenges
Ø To get information on the Vaccine Cold Chain Logistics Market size (Value US$ Mn) forecast to 2030
Ø Significant investments, mergers & acquisitions in the Vaccine Cold Chain Logistics Market industry
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