This industry research report outlines the market forecast for cold chain in pharmaceuticals by airways, roadways, and seaways. This research report also provides market shares for APAC, Americas, and EMEA. The leading vendors analyzed by this report include DB Schenker, FedEx, Kuehne + Nagel, and UPS.
Technavio’s market research analysts estimate the global cold chain market for pharmaceuticals to grow at a CAGR of more than 6% between 2015 and 2019. High demand for temperature sensitive drugs in the global market has led to the increased demand for cold chain pharmaceutical logistics services. North America dominates the global market for cold chain pharmaceutical logistics, accounting for around 40% of the overall market share. Much of this region’s growth comes from increased production of pharmaceuticals and rising demand from domestic consumers.
The new market research report from Technavio provides a breakdown and analysis of the cold chain segments by technology.
“Several pharmaceutical companies have expanded their product offerings owing to the recent technological advancements in the medicine sector. Nanotechnology and stem cell research have introduced numerous drugs with a shorter shelf life, and this has mandated composite manufacturing and distribution. Consequently, Pfizer, Johnson & Johnson, and GlaxoSmithKline are making huge R&D investments to introduce new medicines for various disease. This has intensified the distribution processes, leading to sharp increase in the global cold chain market for pharmaceuticals,” says Sriram Mohan, Lead Analyst, Transport & Logistics, Technavio research.
Airways is the most preferred mode of transportation for the cold chain logistics providers. The segment accounts for around 46% of the total market share. Airways provide convenience to pharmaceutical manufacturers in terms of time and geographical limitations. However, the demand for roadways transportation will witness an increase over the next four years owing to the low cost and easy shipment of products in domestic regions.
The leading vendors of the global cold chain market for pharmaceuticals include DB Schenker, FedEx, Kuehne + Nagel, and UPS. This market is characterized by the presence of many companies at the local, regional, and international levels. Factors such as strategic alliances, new transportation modes such as marine, air, and road transportation, and expansion into new geographical regions can help vendors increase their market share during the forecast period.
A more detailed analysis is available in the Technavio report, Global Cold Chain Market for Pharmaceuticals 2015-2019.
We can customize reports by other regions and specific segments upon request.
Other Related Reports:
- Global BioPharma Cold Chain Packaging Market 2015-2019
- Cold Chain Market in Europe 2015-2019
- Cold Chain Logistics Market in North America 2015-2019
- Cold Chain Logistics Market in India 2015-2019
- Cold Chain Market in China 2015-2019
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