Market Crossed its US$ 4 Bn Mark in 2019; 2020 to Record the Slowest Growth
In recent times, pharmaceutical environment has become increasingly complex with rapid introduction of more specialty products such as biologics, clinical trial drugs, and injectables to be shipped across various regions - which in turn increase the risks of mishandling. A greater need for more sophisticated and personalized temperature control solutions that do not follow the one-size-fits-all approach adds to the complexity. The result has led to increasing demand for temperature controlled pharma packaging solutions which play a critical part in keeping product integrity intact. According to Future Market Insights, the temperature controlled pharma packaging solutions market hit its US$ 4 Bn mark in 2019. However, in 2020, the market is estimated to witness the slowest growth rate, due to rampant spread of novel coronavirus and subsequent expansive lockdowns and transport restrictions affecting a large majority of the cold chain packaging and logistics.
Key Factors Shaping Temperature Controlled Pharma Packaging Solutions Market
Advances in Biotechnology Generates Demand for Safer and More Efficient Cold Chain Products
The last few decades were a period of global economic crisis and witnessed a growth in the number of laboratories producing generic drugs. As a consequence, various pharmaceutical laboratories have been compelled to review their strategies. As a result, a major shift in focus was observed in healthcare, focusing on the use of products stemming from biotechnology. Although profitable, the development of such products used to be quite expensive.
Therefore, pharmaceutical companies are focusing on the use of biotech products at relatively economical cost, which can respond to the growing demand for the treatment of diseases such as cancer, diabetes, and others. These medicines, which are developed from living cells, are very sensitive to temperature variations, with very small tolerance to the slightest fluctuations. During 2011 - 2019, the count of temperature controlled healthcare products increased by up to 45%. Such growth trends are expected to continue during the forecast period. Therefore, the demand for temperature controlled packaging solutions is expected to expand during the forecast period.
Industries are Eying Profits in Lightweight and High Insulation Based Packaging
More emphasis on better handling of temperature sensitive pharma and healthcare products has expanded research for advanced technology-based temperature controlled pharma packaging and protection materials such as VIP, sheep fleece, PCMs, etc.
The limitations of conventional polyurethane insulated shippers and expanded polystyrene (EPS) are overcome by VIP-based insulation and PCM-based refrigerants. VIPs and PCM based packaging solutions are lightweight and therefore, it reduces the shipping and logistics cost. Furthermore, VIPs and PCMs offers product safely against a wide range of temperature. Owing to these benefits, the market for temperature controlled pharmaceutical packaging solutions market is expected to gain more traction during the forecast period.
- Sonoco Products Company has developed Thermosafe’s product ‘Greenbox’ for the healthcare industry. This packaging solution consists of VIP as insulation material and renewable plant-based PCM
Temperature Controlled Pharma Packaging Solutions Market Structure Analysis
- As per FMI research, the temperature controlled pharma packaging market is witnessing consolidated competition with the presence of a large number of key players.
- Market leaders include but are not limited to Sonoco Products Company, Snyder Industries, Inc. Pelican Biothermal, Sofrigam SA Ltd., Emball’iso and Cryopak.
- Cold Chain Technologies are the largest and most experienced in the global temperature controlled pharma packaging solutions market. These companies are estimated to hold more than 12% of the revenue share.
- The key players are focussed on North America and European market owing to consistently increasing demand for associated products in the regions.
- Leading manufacturers are adopting expansion and acquisition strategies to expand their businesses and product portfolios.
- Product developments and new product launches are key trends followed by prominent manufacturers in the temperature controlled pharma packaging solutions market.
- For instance, Lifoam Industries, LLC (Lifoam), a subsidiary of LifeMade Products LLC (LifeMade), extended its product portfolio by addition of sustainable technology-based emperature-controlled EnviroCooler™ packaging line - the EnviroCooler™ EVG™. The company is aiming to reduce plastic waste without sacrificing product integrity and shelf life.
- The global temperature controlled pharma packaging solutions market is consolidated in nature, with key manufacturers focusing on providing custom-made solutions as per the demand of pharmaceutical and healthcare industries.
Insulated Shippers to Remain Top Selling Category
Insulated shippers account for more than 60% of the total sales and continue to influence manufacturers’ growth strategies. While EPS foam containers are typical product of choice of distributors and suppliers to ship specialty pharmaceuticals and biologics, demand for PUR containers and fiberboard is expected to remain strong going forward. Today, many pharmaceutical companies are turning to PUR insulated shippers as an alternative to their EPS counterparts, owing to high durability and sustainability, reduced risk of product failure, less space consumption, and more extreme temperature control. Additionally, insulated containers, both chest style and upright style, are projected to garner significant traction in long-term dimensions.
APEJ to Outperform North America in 2020 Amid COVID-19 Related Disruptions
The latest strain of coronavirus has upended the global pharmaceutical supply chain - a major roadblock for key market players. China’s dominant role as the ‘world’s factory’ and the domino effect of nationwide lockdowns, product stoppages, scarcity of raw materials, and labor shortages are putting the global supply chain in general and North America’s temperature controlled pharma packaging market in particular at risk. North America’s market is expected to lose its leading position to APEJ in 2020 and beyond, mainly assisted by recent restrictions on the export of various active pharmaceutical ingredients (APIs) from India and a large number of US-based generic drug manufacturers whose supply chain is heavily reliant on Chinese suppliers.
Next-gen Tracking Technology and High Insulation Based Packaging Solutions to Dictate Future Growth Prospects
Temperature controlled pharma packaging solutions will continue to see a stronger influence of regulations, considering the nature of products to be packed and shipped. Moreover, the demand for quality and compliance is growing at a faster rate than innovation. Market players are targeted towards reinforced composite materials with high thermal protection and stability to set their products apart from the competition. The greater need for cost effective solutions for highly temperature-sensitive shipments is likely to direct the focus towards lightweight yet high insulation based packaging solutions. Through next-gen shippers and data management devices, innovative technologies are making their way into the market space, enabling faster, more accurate transparency in the movement of sensitive pharma products.Insulated shippers account for 60% revenue share
Demand for insulated containers to pick pace
High application in chilled products
Use in frozen products increases significantly
How Growth will Unfold
Temperature controlled pharma packaging solutions for chilled products account for over 2/5th of the total demand. The pharmaceutical industry will become increasingly reliant on the chilled packaging to mitigate risk and maintain product integrity, from production to patient, by stabilizing internal temperature irrespective of the external environment. Growing shipments of more specialty products across the globe is also influencing market players to offer customized packaging solution for frozen products. It is pertinent to note that as the pandemic continues, stockpiles of essential pharmaceutical products may decline resulting in shortages and the intensity of restrictions of product movement may increase. Therefore, market players must monitor the evolving situation to maintain business continuity in near- and long term.
* This data is only a representation. Actual data may vary and will be available in report.
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Overview
A recent market study published by FMI on the temperature controlled pharma packaging solutions market includes global industry analysis 2015-2019 and opportunity assessment 2020-2030, and delivers a comprehensive assessment of the most important market dynamics. After conducting thorough research on the historical as well as current growth parameters of the market, the growth prospects of the market are obtained with maximum precision.
Temperature Controlled Pharma Packaging Solutions Market Taxonomy
The global market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
Product
- Insulated Shippers
- Panels and Envelopes
- EPS Foam Containers
- Fiberboard
- PUR Containers
- Insulated Protective Shippers
- Insulated Containers
- Chest Style
- Upright Style
- Others (refrigerants, gel, icepacks, phase change materials, etc.)
Application
- Frozen
- Chilled
- Ambient
Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- Japan
- Middle East and Africa
What's Included
The report initiates with the executive summary of the market, which includes a summary of key findings and statistics of the market. It also includes the wheel of opportunity pertaining to the market.
Readers can find the definition and a detailed taxonomy of the temperature controlled pharma packaging solutions market in this chapter, which will help them understand the basic information about the market.
This chapter explains recent trends and design developments of as per changing requirements of industries.
This chapter involves analysis of critical factors which are expected to propel increasing demand of temperature controlled pharma packaging solutions in the pharmaceutical sector.
This section explains the global market demand analysis 2015-2019 and forecast 2020-2030. Detailed analysis of in terms of volume is included in this chapter.
The pricing analysis is done on the basis of product. This section gives region wise pricing analysis for the historic 2015-2019 and forecast period of 2020-2030
This section provides value (US$ Mn) analysis of market for the historic (2015-2019) and forecast period (2020-2030).
This section highlights the development of key industries which has direct impact on the temperature controlled pharma packaging solutions market. This includes growth of pharmaceutical and healthcare industries which propels growth opportunities for the considered market. Furthermore, it includes detailed analysis of packaging industry growth. This section further highlights macro-economic and forecast factors necessary for understanding the market growth. Additionally, the analysis of market is done on the basis of value chain. This gives detail of raw material suppliers, manufacturers, distributors, and end users. Moreover, in-depth information about market dynamics and their impact analysis have been provided.
Based on product of temperature controlled pharma packaging solutions, the market is segmented into insulated shippers, insulated protective shippers, insulated containers, and others. In this chapter, readers can find information about market value, and Y-o-Y growth analysis. Beside this, market attractiveness analysis is given for understanding the relationship between market share, CAGR, and incremental revenue opportunity for the forecast period.
Based on application, the market is segmented into frozen, chilled, and ambient. In this chapter, readers can find information about the market value and demand analysis in the form of graphical representation. Market attractiveness analysis is also provided in the section.
This chapter explains how the market will grow across various geographic regions such as North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan, Middle East & Africa, and Japan. The analysis is done in terms of market share and market attractiveness as per different regions.
This chapter includes a detailed analysis of the growth of the North America market, along with a country-wise assessment that includes the United States and Canada. Market share and demand analysis of the North America market is done as per the designed segments.
This chapter provides the growth scenario of the market in Latin America countries such as Brazil, Mexico, Argentina, and the rest of Latin America. Along with this, assessment of the market across target segments has been provided.
Important growth prospects of the temperature controlled pharma packaging solutions market in several countries such as Germany, Italy, France, the UK, Spain, Benelux, Nordic countries, and the rest of Western Europe are included in this chapter.
This chapter highlights market share analysis with Y-o-Y growth of the market in Eastern Europe by focusing on Russia, Poland, and Rest of Eastern Europe. This section also helps readers in understanding
How the research was conducted?
Primary Research
- C - Level Executives
- Marketing Directors
- Product Managers
- Business Development Officers
- Production Managers
- Procurement Heads
- Sales Executives
- Distributors
- Traders
- Raw Material Suppliers
- Industry Experts
- End-users
- Current market dynamics and challenges
- Yesteryear trends
- Market characteristics
- Market performance and growth quadrants
- Competition structure and market structure
- Strategic growth initiatives
- Near-term and long-term market growth prospects
- Market segment splits and authenticity
- Opinions on market projections and validity of assumptions
Secondary Research
- Industry Publications
- Industry Associations
- Factiva
- Company Press Releases
- Annual Reports and Investor Presentations
- Research Papers
- Government Websites and Publications
- Trade Websites
Primary Interview Splits
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