Temperature-controlled packaging solutions for pharmaceuticals are advanced packaging systems intend to offer balanced temperature to payloads for a specific period of time. These systems utilize phase change products such as ice/water and offer basic functionality with cost-effectiveness. Moreover, temperature control pharmaceutical packaging systems are designed to keep products safe under the desired temperature range for a specific period of time. Furthermore, these systems enable any transportation of any type of pharmaceutical product with lesser cost. They can be classified into insulated shippers, insulated protective shippers, and insulated protective shippers.

The global temperature-controlled packaging solutions for pharmaceuticals market was estimated to account for US$ 3.3 billion in terms of revenue in 2018 and is predicted to grow at a CAGR of 9.6% during the forecast period (2019 to 2027).

Drivers

The booming pharmaceutical industry around the globe, especially in the Asia Pacific, is expected to foster the market growth of Temperature-controlled packaging solutions for pharmaceuticals. According to the India Brand Equity Foundation, the pharmaceutical sector in India was valued at US$ 33 billion in 2017. The country’s pharmaceutical industry is expected to expand at a CAGR of 22.4% over 2015–2020 and reach to US$ 55 billion. India’s pharmaceutical exports stood at US$ 17.27 billion in FY18 and have reached US$ 19.14 billion in FY19. Therefore, the rising pharmaceutical industry is projected to augment the market growth temperature-controlled packaging solutions for pharmaceuticals.

Market Opportunities

Increasing the focus of manufacturers to introduce novel temperature-controlled packaging solutions for pharmaceuticals is expected to propel the market growth of temperature-controlled packaging solutions for pharmaceuticals. For instance, in October 2016, Storopack, the leader in protective packaging is adding a 96-hour system solution to its product portfolio for temperature-controlled shipping. The new prequalified box maintains a temperature of between 2 and 8°C in the shipping unit for around 96 hours, depending on the required temperature profile. The protective packaging is ideal for international shipments, especially for products in the pharmaceutical or biotechnology sector.

Market Restraints

The complexity associated with the Cold chain packaging system, especially for pharmaceuticals products as they are exposed to harsh climatic conditions, during transportation, which also includes ocean transportation is expected to hamper the market growth of temperature-controlled packaging solutions for pharmaceuticals. This is a major issue, for many industries facing due to temperature-controlled pharmaceutical packaging product performance over different climatic conditions and does not meet quality standards. This factor is expected to restrict the market growth of temperature-controlled packaging solutions for pharmaceuticals.

Key Takeaways

On the basis of product type, insulated shippers segment dominated the global temperature-controlled packaging solutions for pharmaceuticals market in 2018 with a 61.7% of market share in terms of revenue, followed by insulated containers and insulated protective shippers, respectively.

Market Trends

The rising trend of outsourcing packaging and transportation of temperature-sensitive products to a third-party logistics company in the temperature-controlled packaging solution industry to offer customized end-to-end solutions is expected to foster the market growth over the forecast timeframe. The strong distribution network of most 3PLs offers easy access to a new consumer base around the globe. Therefore, rising outsourcing packaging and transportation of pharmaceutical products that are temperature sensitive are propelling the market growth.

Growing Focus of Insulated Containers Manufacturer on adopting Rental Business as they are very expensive to own and manage is expected to augment the market growth of temperature-controlled packaging solutions for pharmaceuticals. Moreover, the manufacturer is expanding its rental business as it helps to reduce the cost of ownership and increased the return on investment, which ultimately raise the profit generation. Therefore, the rising adoption of rental business among packaging solution manufacturers of pharmaceuticals is accelerating the market growth.

Competitive Section

Key players operating in the global temperature-controlled packaging solutions for pharmaceuticals market are Sonoco Products Company, Pelican Biothermal, Sofrigam SA Ltd., Cryopak, Cold Chain Technologies, Envirotainer Ltd., va-Q-tec AG, Inmark Packaging, American Aerogel Corporation

Few Recent Developments

Sofrigam SA Ltd.

  • In November 2015, Sofrigam SA Ltd. introduced a new generation I-Box, with Bluetooth connectivity to facilitate real-time management of transported cold chain products
  • In 2015, Sofrigam SA Ltd. launched a new range of pharmaceutical packaging solutions under the brand name Sofribox, at the Cool Chain Europe 2015 in Frankfurt, Germany

Cold Chain Technologies

  • On 26 January 2015, Cold Chain Technologies introduced KoolTemp GTS Instant—a temperature-control shipping system driven by NanoCool ‘push button’ technology to maintain refrigerated temperatures for durations up to 96 hours
  • On 26 October 2015, Cold Chain Technologies won the Excellence Award at the 2015 Annual Cold Chain GDP & Temperature Management Logistics Global Forum in Boston

Market Taxonomy

By Product Type

  • Insulated Shippers
    • Panels and Envelopes
    • EPS Foam Container
    • Fiberboard
    • Polyurethane (PUR)
  • Insulated Protective Shippers
  • Insulated Containers
    • Chest Style
    • Upright Style
  • Others (refrigerants, gel, icepacks, and phase change materials)

By Application

  • Frozen
  • Chilled
  • Ambient

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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