Latest News- Cold Chain Logistics Market For Pharmaceuticals Industry: Vaccines is expected to lead the Product segment during 2025-2029
The Cold Chain Logistics Market For Pharmaceuticals Industry is being driven by Increase in global demand for pharmaceuticals
The Cold Chain Logistics Market For Pharmaceuticals Industry is expected to grow at a CAGR of 9.9% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 14561.3 million. The global cold chain logistics market for pharmaceuticals is characterized by a high degree of fragmentation, with numerous players vying for market share. This fragmentation poses significant challenges for large players looking to expand into new geographies or countries, as they must build a network from scratch. To overcome this hurdle, major logistics vendors such as United Parcel Service Inc., Deutsche Post AG, and FedEx Corp. are employing market consolidation as a strategic growth tool. By acquiring regional players, these companies can gain access to local technologies, expand their market reach, and achieve profitability in the intensely competitive pharmaceutical cold chain logistics sector.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Product (Vaccines, Biopharmaceuticals, Clinical trial materials) Service (Warehousing and VAS, Transportation) Geography (APAC, North America, Europe, South America, Middle East and Africa).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Cold Chain Logistics Market For Pharmaceuticals Industry Research Report
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The Cold Chain Logistics Market for Pharmaceuticals Industry caters to the transportation and storage of novel drugs, including vaccines, biopharmaceuticals, clinical trial materials, and temperature-sensitive goods. This market encompasses various temperature ranges, such as ambient, refrigerated, frozen, and cryogenic, for the transportation of pharmaceutical exports. Hubs-to-distributor, last-mile delivery, and labeling are crucial aspects of this supply chain. Telematics, sea freight logistics, air freight logistics, and overland logistics are essential modes of transportation. Hospitals & clinics, OTC medicines, and various temperature requirements complete the intricate network of this vital sector.
The pharmaceutical industry's cold chain logistics market, a segment of the larger global air freight and logistics market, is experiencing significant growth due to the increasing demand for transporting temperature-sensitive pharmaceutical goods, such as novel drugs, vaccines, and biopharmaceuticals. This market's size is determined by the revenue generated by companies providing air freight and logistics services for these temperature-controlled products. Key growth drivers include the rise of cross-border e-commerce for pharmaceutical exports and the increasing production and demand for temperature-sensitive vaccines and biopharmaceuticals. Companies in this market offer services ranging from air freight transportation and customs agents to tracking and monitoring of goods in transit, ensuring the integrity of temperature-sensitive pharmaceuticals until delivery.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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