Global Temperature Controlled Packaging Material for Healthcare Market - Segment Analysis, Opportunity Assessment, Future Trends, Growth Factors, Competitive Intelligence and Industry Outlook, 2017-2027

Temperature Controlled Packaging Material for Healthcare Market Report Overview:

The temperature controlled packaging material for healthcare market is anticipated to grow at a CAGR of 15.8 % to reach US$ 40,144.7 million by 2027 from US$ 13,075.2 million in 2020.

Temperature controlled packaging material is a solution to pack healthcare products that must be kept at a specific temperature range to maintain the integrity and quality of the products. The rise in COVID-19 cases and increasing distribution of vaccines among the people globally has resulted in increased requirement of temperature controlled packaging material.

The companies in the temperature controlled packaging material market have increased their production capacities to meet the rising demand of packaging solutions for shipment of test kits, vaccines and other medicines. Moreover, significant improvement in the healthcare infrastructure and rise in the investments across pharmaceutical industry with rise in the accessibility of medical facilities, primarily driven from the emerging economies is supporting the growth of temperature controlled packaging materials.

Temperature Controlled Packaging Material for Healthcare Market Segmentation

Market by Product Type

• Insulated Containers
  • Chest Style
  • Upright Style
• Insulated Shippers
  • Expanded Polystyrene Shippers
  • Insulated Polyurethane Shippers
  • Vacuum Insulated Panel Shippers
  •  Others (Panels, Envelopes)
• Other Coolants (refrigerant, coolants, gels)

Market by Type

• Active
• Passive

Market by Cooling Technologies

• Electrical Refrigeration
• Dry Ice or Solid Carbon Dioxide
• Gel Packs
• Liquid Nitrogen  

Market by Application

• Ambient Temperature
• Refrigerated
• Frozen
• Cryogenics

Geography

• North America
  • US
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of APAC
• Latin America
  • Mexico
  • Brazil
  • Argentina
  • Rest of LATAM
• Middle East & Africa
  • GCC
  • Rest of MEA

Trend Analysis of Temperature Controlled Packaging Material for Healthcare Market

Positive Trends:

• The increasing demand for sustainable alternative solutions to polystyrene or plastic has accelerated the demand for single-use packaging concept. The temperature controlled packaging manufacturers are increasingly using high proportion of recycled materials that can be further recycled and reused.
• The manufacturers of temperature controlled packaging materials are increasingly adopting strategies such as mergers & acquisitions and partnerships to stay competitive in the market while meeting the increased demand from the customers

Adverse Trends:

• Passive cooling systems require advanced technologies resulting in high cost of one unit compared to several other cooling containers. The high cost of passive packaging material is not economical for a logistics company and is limiting the market growth.
• Various protocols with respect to packaging, new cleaning and sterilization techniques are subjected to change and are often not communicated to the manufacturers. For instance, often hospitals install UV light cabinets for device exterior sterile barrier system packaging for which the packaging is not tested during development impacting the entire value chain.

In terms of market by product type, the insulated shippers segment accounted for the largest share in the temperature controlled packaging material for healthcare market in the year 2020

On the basis of product type, the temperature controlled packaging material for healthcare market is segmented as insulated containers, insulated shippers, and others. The insulated shipper segment is anticipated to dominate the temperature controlled packaging material market owing to constant innovation and advancement in improving the technology of insulated shippers. Additionally, the ability of insulated shippers to maintain the efficacy and freshness of the product is also contributing to market growth.

Moreover, the Expanded Polystyrene (EPS) and Polyurethane (PUR) are the most widely used temperature controlled packaging material. Expanded polystyrene is a low-cost alternative and weighs very little compared to other materials. However, EPS has a lower R-value, which makes it less effective in preventing the outside temperature from affecting the temperature-sensitive product. In addition to this, EPS containers are more likely to crack and separate during transportation sue to overload. But, this problem is rarely encountered in vacuum insulated or PUR containers, and hence EPS containers are not often chosen for larger and longer-range shipments.

On the basis of region Asia Pacific is the fastest growing region in temperature controlled packaging material for healthcare market, growing at a CAGR of 17.9% during the forecast period

Asia Pacific region held the second largest market share in the temperature controlled packaging material market with a growth rate of 17.9% during the forecast period. Asia Pacific is the second largest pharmaceutical market after North America and the market share is supported by the developed countries such as Taiwan, Singapore, Japan, as well as emerging economies such as India, China, Malaysia, and Indonesia among others.

The region has the presence of the world’s largest contributor to the pharmaceutical industry. For instance, India has excellent strength and infrastructure for manufacturing of generic drugs. The growth in India’s pharmaceutical sector is supported by excellent medical tourism (owing to quality services at marginal costs), innovation and R&D with the support of the Government of India, excellent infrastructure with the highest number of US-FDA compliant plants outside the U.S., expertise in low cost drug manufacturing, and strong domestic demand.

Moreover, Asia Pacific is an ideal destination for clinical trials due to its large patient population, government support for clinical trials, lower trial costs, the scale of medical facilities, and high-quality standards. With an excellent opportunity for clinical trials in the region, the demand for temperature controlled packaging material is extremely high.

The report also provides in-depth analysis of market dynamics such as drivers, restraints, opportunities and challenges.

Drivers

• Rise in the development of pharmaceutical products that are sensitive to temperature changes
• Increasing use temperature controlled packaging materials with higher R-value

Restraints

• Change in healthcare industry standards and regulations

Opportunities

• Demand from emerging economies
• The emergence of COVID-19 possess enormous opportunities for market growth

Challenges

• Rising concerns over environmental impact of the packaging material

The report also provides in-depth analysis of recent developments of Temperature Controlled Packaging Material for Healthcare market

S. No	Year	Type	News
1	March 2021	Product Development	Softbox has developed an ultra-low temperature (ULT) applications reusable parcel shipper to support Pfizer in the distribution of COVID-19 vaccines. ULT shipper maintain temperature range between -90°C to -60°C for at least 10 days unopened, which helps to maintain quality and efficacy of the COVID-19 vaccines.
2	March 2021	Expansion	Cold Chain Technologies expanded its presence in Europe, Middle East & Africa by opening and regional headquarter in Netherlands. The expansion was aimed at enhancing the service for their customers across Life Sciences industry by bringing the customer service and facilities closer to them.

Company Profiles and Competitive Intelligence

The key players operating in the temperature controlled packaging material for healthcare market are:

1. Pelican Biothermal LLC
   1. Company Fundamentals
   2. Financial Analysis (Subject to Availability)
   3. Product Portfolio
   4. SWOT Analysis
2. Sonoco Products Company
3. Cold Chain Technologies
4. Softbox Systems Limited
5. APEX Packaging Corporation
6. DS Smith
7. Sofrigam
8. va-Q-tec AG
9. Biotempak
10. Cryopak Industries Inc
11. Amcor
12. Inmark Temperature Controlled Packaging
13. Other Notable Players

Frequently Asked Questions (FAQs)

Related Reports