29 March 2023
Visiongain has published a new report entitled Deep Frozen Packaging Logistics Market Report 2023-2033: Forecasts by Type (Dry Shippers, Dry Ice Shipper), by Materials (Clinical Trials, Cell & Gene Therapies, Reagents, Cell Culture Media) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Impact and Recovery Pattern Analysis.
The deep frozen packaging logistics market was valued at US$21,088.3 million in 2022 and is projected to grow at a CAGR of 7.7% during the forecast period 2023-2033.
The need for pharmaceutical logistics is rising as more generic drugs are being sold and healthcare reforms are making generic drugs more popular. Major companies are working towards offering cloud-based supply chain solutions and safe supply chain functions. During the forecast period, the rise of the industry is expected to be driven by rising demand for sea and air freight pharmaceutical logistics. When pharmaceuticals are shipped by sea, the cost of shipping them goes down by a good margin and less staff is required. The market is likely to grow even more as more vaccines and medicines of high value are sent long distances and across continents.
How has COVID-19 had a Significant Impact on the Deep Frozen Packaging Logistics Market?
To fix the major problems that the COVID-19 pandemic revealed, the pharmaceutical supply chain will need to be reorganised from its present disorganized, siloed state. Reshoring is a part of the answer, but it is not the only one. It will be important to plan for and measure supply chain risks in a thorough and ongoing way. Adopting new digital technologies that allow real networking and sharing of data across the whole supply chain will also be important. The entire pharmaceutical supply chain needs to be flexible and quick, from preparing raw materials, intermediates, drug substances etc., to making materials and parts for manufacturing equipment, to designing and making packaging solutions, and then storing and distributing all of these important things. The chance of supply disruptions can only be avoided if all of the problems that the industry is facing are dealt with.
How will this Report Benefit you?
Visiongain’s 240-page report provides 110 tables and 112 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the deep frozen packaging logistics market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Deep Frozen Packaging Logistics. Get financial analysis of the overall market and different segments including Type and Materials capture higher market share. We believe that there are strong opportunities in this fast-growing deep frozen packaging logistics market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the Current Market Drivers?
Complexity of Healthcare Industry Driving Deep Frozen Packaging Logistics Market
Biologics, clinical trial samples, and numerous classes of pharmaceuticals and medical products, among others, are particularly sensitive to heat, humidity, and even light. On the other hand, many substances are sensitive to shocks and vibrations. These items can save lives, but because each one must be perfect in every way, they are more challenging to research, produce, transport, and store. Nobody wants the side effects of their medication that could be fatal.
To maintain their effectiveness, various raw materials & finished goods may need to be stored at various temperatures. Any variation in this temperature or improper product handling could permanently damage it. This could lead to the discarding of ineffective vaccines, medications, and other temperature-sensitive goods, as well as the loss of critical data in clinical trials. Manufacturers might also experience reputational damage and regulatory action in addition to this loss.
Storage and Transportation of Vaccines Require Specific Temperature to be Maintained
Prior to release, vaccines and other pharmaceutical products are put through extensive stability testing to make sure they function properly in a range of temperature and humidity conditions. The outcomes of the tests are then used to establish the conditions in which a vaccine or pharmaceutical product may be stored without degrading its effectiveness. The cold chain must be kept under temperature control from vaccine production to administration. Finally, maintaining the right conditions for medical supplies and vaccines ensures their continued efficacy.
Where are the Market Opportunities?
There are several mergers and acquisitions going on as companies want to grow their geographic reach and their proprietary knowledge. They are also trying to cut down on the general cost of packaging their goods. Biotechnology and pharmaceutical supply chains are especially vulnerable to the risks of product tampering during shipping & not following government rules, standards, & guidelines. Companies are putting a lot of money into cutting-edge technologies such as tracking and remote monitoring to make transportation operations safer & more convenient. This, in turn, is assisting the market to grow.
Companies that manufacture medicines are getting more and more of their packing and labelling done by outside companies. Many drug companies are growing in places they haven't been before, like Sub-Saharan Africa and Latin American region. Drug manufacturers care a lot that their logistics providers are close by and know a lot about pharmaceuticals. But when processes are outsourced, there are big risks that service levels will get worse and that control will be lost.
The major players operating in the deep frozen packaging logistics market are Almac Group, AmerisourceBergen Corporation (World Courier), B.P.L. GmbH, Biocair, Catalent, Cardinal Health, Ceva, Cryport, CSafe Global, DHL, Dryce Srl, FedEx, Glatt GmbH, IMP LOGISTICS, Kuehne + Nagel, Marken (A UPS Company), Peli BioThermal Limited, SkyCell, Thermo Fisher Scientific Inc., T°Safe Group, United Parcel Services, va-Q-tec, and WuliuAir, Yourway. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
• In February 2023, Catalent, completed a $2.2 million expansion to its clinical supply facility in Singapore, which has seen the site’s footprint increase to 31,000 square feet creating the space to install an additional 35 new freezers for ultra-low temperature (ULT) storage.
• In September 2022, Cryoport, Inc. entered into a strategic relationship with BioLife Plasma Services, part of the global biopharmaceutical company Takeda, intended to provide consistent, high-quality cellular starting material for use in the manufacture of life-saving cellular therapies.
Notes for Editors
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