However, cold chain logistics are penetrating the healthcare sector at a moderate rate due to the sophisticated and elaborate process; especially in developing countries. Other factors obstructing the growth of the global healthcare cold chain logistics market include a lack of infrastructure and a proper regulatory framework in underdeveloped countries although governments in some emerging economies are also taking corrective action to augment healthcare cold chain logistics services, fueling market growth.
Demand for cold chain logistics in the healthcare sector is increasing with time and the global Healthcare Cold Chain Logistics Market Share is expected to grow with a 7.54% CAGR during the forecast period 2018-2023 predicts Market Research Future (MRFR).
The healthcare cold chain logistics also assists in monitoring environmental fluctuations and hence, is beneficial for transporting thermal-sensitive products vaccines, serums, and others. Cold chain provides real-time information, which is an additional factor that is spurring its rate of adoption in several healthcare organizations, hence, expected to amplify the healthcare cold chain logistics market expansion. The need for well-managed transportation of biological products is likely to prompt the healthcare cold chain logistics market growth. Furthermore, cold chain plays a crucial role in streamlining clinical trials procedures, that is likely to boost the healthcare cold chain logistics market growth. Various mergers and acquisitions among market players are also expected to aid in generating revenues for the market. However, the lack of effort in maintaining consistency throughout the process can hinder the market expansion.
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The MRFR report includes a detailed segmentalanalysis of the market based on product type, storage techniques, end user and services.
Based on product type, the healthcare cold chain logistics market is segmented into clinical trial materials, vaccines, biopharmaceuticals, and others.
Based on product type, the market has been segmented into clinical trial materials, vaccines, biopharmaceuticals, and others.
Based on services, the market has been segmented into packaging, transportation, storage and others
Based on storage techniques, the market has been segmented into liquid nitrogen, electrical refrigeration, gel packs, dry ice and others.
Based on end user, the market has been segmented into research institutes, hospitals and clinics, biopharmaceuticalcompanies, and others.
Based on the region, the healthcare cold chain logistics market been segmented into Latin America, North America, Europe, Asia Pacific, Europe, and the Middle East Asia and Africa.
In North and Latin America, the healthcare cold chain logistics market is expected to lead in the global market over the assessment period. Europe, followed by Asia Pacific, the regions are likely to hold a significant share of the market. Factors like the existence of powerful pharmaceutical companies and the increase in number of mergers and acquisitions among them are fueling the healthcare cold chain logistics market growth in these regions.
April 2019: Tata Motors recently invested in a pharmaceutical cold chain specialist, Kool-ex, is experiencing substantial growth. Owing to the increasing demand for cold chain logistics in the pharma sector, Tata Motors is planning to invest Rs 140 crore in the next two years to double its fleet to 800 reefer trucks