Technavio's Cold Chain Logistics Market for Pharmaceuticals Industry Research Report Highlights the Key Findings in the Area of Vendor Landscape, Key Market Segments, Regions, and Latest Trends and Drivers
NEW YORK, Nov. 10, 2021 /PRNewswire/ --The latest cold chain logistics market for pharmaceuticals industry research report by Technavio infers the increased use of technology and IoT is driving this market's growth.
The market structure is expected to remain fragmented during the forecast period. Vendors operating in the market are deploying growth strategies including rigorous merges and acquisitions for gaining a competitive advantage over other vendors.
Agility Public Warehousing Company KSCP, Deutsche Post DHL Group, FedEx Corp., JWD InfoLogistics Public Co. Ltd., Kerry Logistics Network Ltd., Kuehne + Nagel International AG, Orient Overseas International Ltd., SCG Logistics Management Co. Ltd., United Parcel Service Inc., VersaCold Logistics Services are some of the few key vendors of this market. Vendors are competing to maintain their market position in the market.
Vendors are also trying to expand their market presence and strengthen their product portfolio by entering partnerships and launching new and innovative products. For instance, In April 2021, Deutsche Post DHL Group partnered with Fiat Professional for further electrification of last-mile delivery. In April 2021, Agility Public Warehousing Company KSCP opened a new logistics park in Maputo.
View more about the market's vendor landscape highlights with a comprehensive list of vendors and their offerings.
Key Market Segmentation
Segmentation by Service:
Warehousing and VAS:
The segment contributed greatly to the overall market growth in 2020.
The warehousing and VAS segment will continue to remain as the largest segment of the market in 2025. The growing pharmaceutical industry will drive the demand for refrigerated warehousing of pharmaceutical products. The vendors are also offering value-added services (VAS) such as loading and unloading, inventory management tools, and other supply chain-related services to their clients.
North America is leading the market with a contribution of 37% to the overall market in 2020 and would increase its contribution to the overall market growth by 2025.
North America will generate growth across all the years of the forecast period between 2020 and 2025.
APAC would be the fastest-growing region within the overall market between 2020 and 2025 due to the development of the healthcare market in Asia. Furthermore, growing foreign investment and ease of access to healthcare insurance in most Asian economies are also expected to boost the consumer healthcare market in Asia Pacific.
Apart from regions, if we look at the country-wise market growth, the US, China, Germany, UK, and Canada will contribute to the highest market growth.
Latest Trends, Driving the Cold Chain Logistics Market for Pharmaceuticals Industry
Rising use of Reefer Containers:
There has been a surge in the use of reefer containers in the pharmaceutical industry in recent years. Reefer containers or refrigerated containers offer a constant supply of uniform air within. In addition, these containers are also widely used for carrying food and beverages as well as pharmaceutical products as the air is uniformly distributed within the containers through a specific T-shaped decking. Thus, the rising need for transporting temperature-sensitive pharmaceuticals will drive the need for cold chain logistics market products such as reefer containers.
Increased use of technology and IoT for Automation:
Increased use of technology and IoT has aided in extending various benefits including minimizing operational costs to warehousing service providers. Vendors are offering tools and techniques for automating several warehouse business process areas, which is one of the key cold chain logistics market trends. About 55% of the cost incurred in the cold chain warehousing is due to refrigeration. Therefore, the use of battery-driven or fuel cells-based forklifts, AGVs, and automated conveyor belts will save refrigeration costs.
Find additional information about various other market drivers & Trends mentioned in our FREE sample report.
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Cold Chain Logistics Market For Pharmaceuticals Industry Scope
Growth momentum & CAGR
Accelerate at a CAGR of 9.03%
Market growth 2021-2025
USD 9.37 billion
YoY growth (%)
APAC, North America, Europe, South America, and MEA
Performing market contribution
APAC at 42%
Key consumer countries
US, China, Germany, UK, and Canada
Leading companies, competitive strategies, consumer engagement scope
Agility Public Warehousing Company KSCP, Deutsche Post DHL Group, FedEx Corp., JWD InfoLogistics Public Co. Ltd., Kerry Logistics Network Ltd., Kuehne + Nagel International AG, Orient Overseas International Ltd., SCG Logistics Management Co. Ltd., United Parcel Service Inc., and VersaCold Logistics Services
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period
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