Temperature Controlled Pharma Packaging Market Snapshot 2023 to 2033
The global temperature controlled pharma packaging market is anticipated to accumulate a market value of US$ 12.4 billion in 2023 and is expected to garner a valuation of US$ 27 billion by exhibiting a CAGR of 8.09% in the forecast period 2023 to 2033. The market of temperature-controlled pharma packaging market reflected growth witha 7% CAGR in the historical period 2018 to 2022.
Increasing global population, especially the geriatric population, and a growing number of communicable and non-communicable diseases are playing a significant role in propelling the pharma packaging industry. This is increasing the demand for prescription and non-prescription drugs which are regarded as temperature-sensitive due to their critical nature. This trend will most likely boost product demand in the coming years.
Also, the market for temperature-controlled packaging solutions for pharmaceuticals is expected to grow as a result of increasing research and development initiatives across countries intended to improve the manufacturing and packaging processes in the pharmaceutical and biotech industries.
Along with pharma materials, the development of innovative medications and therapies like stem cells, monoclonal antibodies, and r-proteins, has surged the demand for cold chain packaging systems at different phases of product development, fuelling market expansion.
The recommended temperatures for vaccine storage include -80°C, -60°C, -20°C, and the most common 2-8°C temperature range. This demand for the storage of vaccines will significantly boost product sales. Rising use of cutting-edge technologies in the pharmaceutical industry is also presenting growth prospects for market expansion.
The use of digital platforms to keep track of temperature, vibration, and other variables for cold chain payload transfers will augment the product demand. The market will register faster growth when information like flight schedules, weather, and the promise of express delivery of goods becomes easily available.
On the other hand, the wide use of vacuum panel insulation (VPI) with stage modification materials might increase the shelf life of pharmaceutical products that are stored. This will support market growth.
Another substantial factor for increased product demand is the growing emphasis on pharmaceutical companies developing medications and treatments for uncommon illnesses. Such kinds of medications have a limited shelf life and are made of expensive ingredients. They require a proper temperature-controlled environment. Thus, in the forthcoming years, this factor will propel product demand.
Region-wise, Asia Pacific is projected to dominate the market by accumulating over 39% market share by end of the assessment period. The market in this region will also grow with the fastest CAGR of 8% during the forecast period. With the ever-increasing geriatric population, the demand for medicines will is also rising which is fuelling product demand in the region.
Also, increasing spending on healthcare infrastructure and growing consumer awareness especially post-pandemic is further fostering growth in this region. Moreover, China is expected to lead the regional market with maximum share whereas the market in India is anticipated to reflect fastest CAGR growth in this region during the forecast period.
Likewise, North America is projected to grow with a significant CAGR of 7.5% during the projection period. This is attributed to the rising incidence of chronic diseases, an increasing number of clinical trials, as well as an aging population across the region.
Data Points
Key Statistics
Expected Market Value in 2023
US$ 12.4 billion
Projected Market Value in 2033
US$ 27 billion
Growth Rate (2023 to 2033)
8.09% CAGR
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How Competitive is the Market?
Recent developments and breakthroughs in technology, mergers, acquisitions, tie-ups, and partnerships within the companies involved in manufacturing temperature-controlled pharma packaging solutions are expected to create lucrative opportunities for market growth during the forecast period.
In January 2022, Catalent, a provider of clinical supply services, improved its capacity for cold chain packaging at the United States plant in Philadelphia. The company will be better able to cater to the growing demand for the delivery of innovative cell and gene therapies and biologic pharmaceuticals. Seven new temperature-controlled processing suites have been added to the facility by ‘Catalent’, which has also added up to 20,000 square feet of additional space. The new suites comprise of complete serialization capabilities and are primarily geared for modest commercial product quantities. The suites can be run in refrigerated as well as in frozen settings to precisely satisfy the needs of the pharmaceutical products being handled.
In March 2021, Sonoco Products Company collaborated with Unilode Aviation Solutions, one of the key market players in outsourced Unit Load Device (ULD) management and repair services, for the repair, maintenance, and handling of Sonoco ThermoSafe’s passive bulk temperature-controlled containers at various key locations. This cooperation will play a significant role for the company in allowing the safe and efficient transport of pharmaceuticals and other temperature-sensitive products across the globe.
Temperature controlled pharma packaging is widely used for packaging and transportation of different chemical products which show sensitivity to temperature and pharmaceutical drugs to maintain consistency in temperature. These temperature controlled pharma packaging solutions are used to keep a product’s shelf life efficient in a particularly low temperature range.
This packaging solutions are mainly used to preserve life of chemical products and pharmaceutical drugs along with maintaining various product-specific-environment-parameters including air quality levels. Any divergence beyond the required temperature for storing and shipping pharmaceutical products may affect the efficacy of the drug.
So for that, to prevent any kind of damage to the product, they must be packaged with temperature controlled container. Great demand from pharmaceutical industry, especially for transporting the products to remote locations is expected to drive the growth for temperature controlled pharma packaging market in future.
Temperature Controlled Pharma Packaging Market: Dynamics
Drivers:
Temperature controlled pharma packaging 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. In pharmaceutical industry, the range of 2-8 degree C is required to maintain the product’s integrity during shipment which can easily be fulfilled with the temperature controlled pharma packaging solutions.
Restraints:
High cost associated with advanced technology for maintaining temperature through temperature controlled pharma packaging solutions might hamper the growth of temperature controlled pharma packaging market.
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Opportunities
Growing Concerns about Safe Transportation of Pharmaceutical and Chemical Products
Temperature controlled packaging solutions are ideal solutions for transporting temperature sensitive drugs and other products in extreme. This packaging solution provides the consumers with better environment for temperature maintenance with extended shelf life of products.
The quality of pharmaceutical drugs and other products has a direct relationship with patients’ therapies and their safety. Numerous programs are being started for handling and transporting vaccines properly for monitoring the amount of vaccine wastage. Moreover, various global clinical trials are in the need of more temperature regulations which is fuelling up the growth of the temperature controlled pharma packaging market.
Growing Number of Diseases is Augmenting the Production Rate of Temperature Controlled Pharma Packaging Solutions
The number of disease outbreaks worldwide has propelled the production rate of temperature controlled packaging in pharmaceutical industry. Several diseases including cancer, diabetes, cancer, obesity, Alzheimer's etc. have forced the pharmaceutical industry to develop technology.
Temperature controlled pharma packaging solutions are used in shipping drugs, chemicals, clinical trial distribution products, organs, blood etc. All these factors along with continuously growing number of disease are creating opportunities for temperature controlled pharma packaging market.
Temperature Controlled Pharma Packaging Market: Regional Outlook
Asia pacific region is likely to dominate other regional temperature controlled pharma packaging markets due to a fast rise in chronic diseases occurred and growing number of clinical trials in emerging nations like China and India.
North America temperature controlled pharma packaging market is anticipated to show a fast growth owing to the large number of pharmaceutical product manufacturing companies and high rate of utilization of temperature controlled products in the region.
Europe has also witnessed advancements in terms of technology owing to its population associated with rising number of disease outbreaks and the Middle East & Africa and Latin America are expected to show stagnant growth rates due to the sluggish activity in pharmaceutical industry in those regions.
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Temperature Controlled Pharma Packaging Market: Key Players
Mondi Group
Pelican Biothermal
Cold Chain Technologies
Snyder Industries
Americk Packaging Group
H.B. Fuller Company
Temperature Controlled Pharma Packaging Market: Segmentation
Globally, the temperature controlled pharma packaging market is segmented by type, temperature range, payload capacity, type of use and application.
