According to Precedence Research, the pharmaceutical temperature controlled packaging solutions market size is expected to hit around US$ 6.41 bn by 2027 from US$ 3.75 bn in 2019.
OTTAWA, June 30, 2021 (GLOBE NEWSWIRE) -- Temperature-controlled packaging solutions are vital to mitigating risk and maintaining product integrity from production to the patient by stabilizing internal temperature regardless of external environment.
Temperature-controlled packaging is a critical part of the pharmaceutical supply chain, but is often underestimated. It comprises many components, which all must interact in the way they were designed to for temperature to be maintained. Many factors impact product temperatures and duration, including heat transfer by convection and conduction, changing external temperatures, differing conditioning requirements, masses of different temperatures trying to equalise, ice packs and phase change materials (PCM).
The Pharmaceuticals temperature-controlled packaging solution is an imperative tool in plummeting the hazard and upholding quality of product during the supply chain process by steadying internal temperature. This system benefits to protect shipments across each aspect of the medical supply chain. Some of the foremost application areas of temperature-controlled packaging solutions include inactive pharmaceutical ingredients with balanced temperature, vaccines, biological products and samples, clinical trials, and medical products with detailed timeline necessities.
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Market Top Trends
Implementation of novel high-performance convection systems that are well-organized for warehousing and supply of pharmaceutical products is anticipated to provide novel growth prospect to the pharmaceutical temperature-controlled packaging solutions industry. Increasing practice of vacuum panel insulation along with the phase change materials can augment the life of warehoused pharmaceutical product. Consequently, the intensifying adoption of such progressive technologies in the pharmaceutical sector is projected to subsidize the growth of the market worldwide.
Emphasis of pharmaceutical manufacturer is budding to manufacture drugs and therapies for rare diseases. These drugs are consisting of high-value ingredients and have small shelf lives as outcome of which they need stringent temperature-controlled environment. Thus, this is predictable to support the ultra-low temperature range packaging solutions. Temperature controlled pharma packaging solutions will endure to see a sturdier influence of regulations, seeing the nature of products to be shipped and packed. Furthermore, the demand for quality and compliance is rising at a greater rate than innovation. Several market participants are emphasizing towards reinforced composite materials with stability and high thermal protection to set their products apart from the rivalry.
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North America is the largest temperature controlled packaging solutions market for pharmaceuticals. The market is witnessing high growth on the backdrop of burgeoning demand from healthcare sector. The demand for transportation drugs, vaccines and clinical trials in North America has triggered the temperature controlled packaging solutions growth. North America, especially the U.S. is home to many established players which are engaged in developing technologies and process necessary to develop cold chain system efficiently.
The U.S. Food and Drug Administration has quantified thermal necessities for handling, transportation, and storage of the drugs. These containers address the hygiene and thermal obligation of the healthcare products such as vaccines, drugs, blood, and organs. Over the past couple of years, international health organizations such as the World Health Organization (WHO) have been highlighting the reducing of vaccine waste. Besides, cumulative initiatives to monitor vaccine wastage are anticipated to bolster the demand for the product in the future.
Swift escalation in the commonness of chronic diseases, swelling number of clinical trials in the nations such as India and China, and rising demand for temperature sensitive products will profoundly subsidize to the growth of the pharmaceutical temperature-controlled packaging solutions market within APEJ region.
Key Players & Strategies
Over the past couple of years, imperative manufacturers in the sectors are snowballing spending on research and development to advance the product. For occurrence, in January 2019, Softbox Systems Ltd. introduced a novel pallet along with parcel shipping systems in the Temperature Controlled Logistics (IQPC) sector in London. Crucial players operating in the arena of global pharmaceuticals temperature-controlled packaging solutions are Pelican Biothermal, Sonoco, Sofrigam SA Ltd., Cryopak, Inmark Packaging, Cold Chain Technologies, VA-Q-Tec AG, Envirotainer Ltd., and American Aerogel Corporation among others.
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