Rising production and supply of life-saving drugs and vaccines across the U.S. is expected to create lucrative prospects for temperature-controlled pharmaceutical containers market. Sales of temperature-controlled pharmaceutical containers are anticipated to grow 1.8X over the upcoming decade
NEWARK, Del, Sept. 23, 2022 (GLOBE NEWSWIRE) -- The global temperature-controlled pharmaceutical containers market is expected to create an opulent growth opportunity over the projection period by registering an impressive CAGR of 8.5%. The global market is expected to reach a valuation of US$ 4.9 Bn in 2022 and surpass US$ 11.2 Bn by 2032. The sales of temperature-controlled pharmaceutical containers market are anticipated to bolster with the top 3 countries estimated to hold around 35-40% of the market by the end of 2022.
In 2021, the global temperature-controlled pharmaceutical containers market is predicted to hold around 13-15% of the global pharma packaging market worth US$ 319 Bn. On the basis of region, North America and Europe, collectively, are projected to account for more than 2/3rd of the market share in 2022.
According to the Future Market Insights (FMI) analysis, the global temperature-controlled pharmaceutical containers market witnessed a robust CAGR of 7.2% across the historic forecast period with a market value of US$ 4.5 Bn in 2021 from US$ 2.8 Bn in 2015. The global pharmaceutical e-commerce industry is witnessing high growth due to the increase in overall demand for effective medicines.
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In order to uphold the blood or vaccines, temperature-controlled solutions are a must as per several studies and analyses. Therefore, cold chain packaging is widely utilized among pharmaceutical manufacturers to cater to the growing demand among patients and the rise of routine diseases. The design of packaging solutions is crafted in such a way that it efficiently transports medical and drug supplies all over the world.
Furthermore, the temperature-controlled packaging is also helpful in preventing various medicines that are shipped in adherence to electromechanical temperatures with supportive logs facilitating its proper storage. New drugs and therapies have been constantly developed to spur the demand for cold chain logistics. With the extensive development of the pharma industry over the world, the demand for temperature-controlled packaging is projected to witness impressive growth over the next decade.
The surging need for product safety, especially in the healthcare industry is attributed to the growth in the market. Temperature-controlled pharma packaging is massively utilized for shipping and packing medical supplies to extend shelf life and protect the products from harsh temperatures.
Top pharma companies are developing pharmaceuticals that are most likely effective for uncommon diseases. The need for safe packaging of these medications is vital and is expected to bolster over the forecast period (2022-2032). Most of these medicines or drugs are sensitive to ambient temperature, and an unsuitable environment can easily affect their quality and efficacy.
Many prominent pharmaceutical industries are depending on temperature-controlled pharmaceutical containers in order to ensure the safety of various pharmaceutical products. The life sciences sector is expected to flourish and can be tracked down to new drug development activities influencing the current strategies of pharmaceutical companies. The utilization of the latest technologies by manufacturers in the global pharmaceutical industry is helping in the production of innovative medicines and drugs.
Technological advancements in the pharmaceutical industry are enabling the leading players to meet surging consumer demands for the latest and more effective medicines and pharmaceutical products. In addition to those recent developments in HVAC, technology is anticipated to prove extremely helpful to manufacturers to produce more efficient temperature-controlled containers.
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Prominent market players operating in temperature-controlled pharmaceutical containers are aimed at expanding their production capabilities in order to meet the growing demand. They are also forming alliances and eyeing acquisition strategies to expand their resources.
While on the other hand, some of the other key players are developing new products in order to meet customer needs and gain a competitive advantage. Furthermore, these companies are focusing on upgrading their facilities to cater to the demand.
More Insights into the Temperature Controlled Pharmaceutical Containers Market
India is considered the 3rd largest pharmaceutical industry in terms of volume as compared to all other countries across the globe. With surging developments in pharmaceutical manufacturing and supplying generic formulations across the globe, the demand in the temperature-controlled pharmaceutical containers market is expected to increase over the forecast period. Indian pharmaceutical industry is expected to surge at a robust CAGR of 9.5% over the assessment period from 2022 to 2032.
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Temperature Controlled Pharmaceutical Containers Market by Category
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1.4. Control type Roadmap Analysis
2.2. Market Definition / Scope / Limitations
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Macro Factors and Forecast Factors
3.4.1. Profit Margin Analysis
3.4.2. Raw Material Suppliers
3.4.3. Manufacturers, Wholesalers and Distributors
3.4.4. End Users/ Customers
3.5. Regional Parent Market Outlook
3.6. Production and Consumption Statistics
3.7. Global Average Pricing Analysis Benchmark
Explore wide-ranging Coverage of FMI’s Packaging Market Insights Landscape:
Passive Temperature-Controlled Packaging Solutions Market: The global passive temperature-controlled packaging solutions market is estimated to reach US$ 10.6 Bn in 2021. Sales of passive temperature-controlled packaging solutions are expected to increase at 9.1% CAGR between 2021 and 2031.
Temperature Controlled Packaging Boxes Market: Temperature controlled packaging boxes market are used for shipping the medical products and vaccines, which are prone to get damaged caused by temperature variations.
Temperature Controlled Pharma Packaging Solutions Market: The global temperature controlled pharma packaging solutions market is projected to rise at 7.8% CAGR and reach a valuation of US$ 7.4 Bn by 2032, up from US$ 4 Bn in 2022.
Temperature Controlled Pharma Packaging Market: Temperature controlled pharma packaging market is able to provide better solutions than conventional and traditional insulating materials by deducting the volume and weight of the source for maintaining required thermal condition.
Temperature Controlled Packaging Solutions for Pharmaceuticals Market: The temperature controlled packaging solutions for pharmaceuticals market is expected to witness a CAGR of 7.8% during the forecast period 2018-2028.
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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