Healthcare Cold Chain Logistics Market – Flourishing Pharmaceutical Sector Bolster Growth
The healthcare cold chain logistics market has expanded significantly due to the increasing demand for biopharmaceuticals and vaccines that require cold chains and stricter government regulations for the efficient handling of temperature sensitive pharma products. Biopharmaceuticals are usually complex protein molecules and their efficacy is significantly dependent on temperature adhered logistics.
The healthcare cold chain logistics market is anticipated to benefit from availability of personalized medicine, wherein cold chain logistics plays an integral role for the efficacy of personalized drugs. For instance, QuickSTAT – a leading healthcare cold chain logistics vendor have reported the significance of cold chains that are equipped with technology such as GPS-alerts for information dissemination in a timely manner. Transportation delays and weather fluctuations are some of unforeseen situations where cold chain serve useful to adjust ambient temperature in order to minimize huge losses.
The flourishing pharmaceutical sector to serve the healthcare needs of the growing global population is also stoking the demand for healthcare cold chain logistics. According to statistics presented by the World Health Organization, the worldwide pharmaceutical market is likely to expand from US$300 bn to US$400 bn in a span of three years. This will stoke demand for reliable cold chain logistics for safe and timely transportation of pharmaceutical products.
Furthermore, adoption of novel supply chain policies and technologically advanced systems for distribution needs is also acting in favor of the healthcare cold chain logistics market. Developing nations such as India are expected to rake in immense contribution to the growth of healthcare cold chain logistics market. This is because of extensive export of pharmaceutical products from these nations to underdeveloped and poor countries to serve their healthcare needs. This requires reliable cold chain logistics for safe delivery of pharma products.
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Increasing number of clinical trials that employ temperature sensitive materials such as tissue sample, blood sample, and certain drugs is providing impetus to the demand for healthcare cold chain logistics.
From a geographical perspective, the global market for healthcare cold chain logistics is studied across North America, Asia Pacific, Europe, and Rest of the World. The demand for cold chain logistics is pacing up in developing countries as regulations for the transportation of temperature-sensitive pharmaceuticals come into place.