Vaccine Cold Chain Logistics Market Expected to Reach US$ 4.90 Billion by 2030 - Growing Beyond COVID-19 Application

2022-11-23

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JERSEY CITY, N.J., Nov. 23, 2022 /PRNewswire/ -- InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the

Global Vaccine Cold Chain Logistics Market

By Services (Storage, Packaging, And Transportation), By Packaging Methods (Dry Ice, Liquid Nitrogen, Gel Packs), Mode Of Transportation (Ground, Air, Ocean), Holding Temperature Range (Vaccines Requiring Refrigerated Temperature, Vaccines Requiring Frozen Temperature, Vaccines Requiring Cryogenic Temperature), Containers (Active Containers, Passive Containers))- Trends, Industry Competition Analysis, Revenue and Forecast To 2030."

According to the latest research by InsightAce Analytic, the global vaccine cold chain logistics market is valued at US$ 2.84 billion, and it is expected to reach US$ 4.90 billion by 2030, with a CAGR of 5.2% during the forecast period of 2022-2030.

The major players in the market includes Cryoport, DHL Express, GAC, Lynden International Logistics, PAREXEL, United Parcel Service, Yusen Logistics, DB Schenker, CEVA Logistics, Q1 Scientific, AmeriCold Logistics LLC, FedEx Corporation, Sofrigam, Sartorius AG, Intelsius, Envirotainer, Coldman Logistics, B Medical Systems, CSafe and Other Prominent Players.

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The service is known as "cold chain logistics" and allows temperature-controlled packaging, appropriate storage, and transportation to protect temperature-sensitive products, particularly in the pharmaceutical industry. It aids in sustaining the efficacy and shelf life of goods like medicines, vaccines, biopharmaceuticals, samples, and other goods. Leaf Expression Systems (Leaf) debuted in September 2021. Several factors, including the rising demand for mRNA-based vaccines, the growing demand for effective cold chain logistics services to maintain the quality of products, the high demand for infectious diseases vaccines, expanding public awareness of health and wellness, innovations in packaging and shipping technologies, rising healthcare costs, and rising R&D investments to discover new vaccines, can be credited for the expansion of the vaccine cold chain logistics market. Due to the enormous rise in demand for vaccine storage services brought on by the COVID-19 epidemic, pharmaceutical companies focused their efforts on creating cold chain logistics. Therefore, the vaccine cold chain logistics market will probably see new growth prospects in the coming years due to the increasing R&D initiatives. Consumer demand for perishable goods, including dairy, fruits, vegetables, and non-vegetables, will cause the market to grow. However, it is projected that more adequate resources or technological advancements for high-quality cold chain facilities will be needed to ensure the market's growth. The market will expand more quickly if this software is used more frequently in all cold chain logistics sectors. The rapid development of distribution channels, such as supermarkets, hypermarkets, and convenience stores, is expected to boost the market growth.

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The demand for vaccine cold chain logistics is the booming pharmaceutical industry, which is expanding to meet the healthcare needs of the expanding worldwide population. It is anticipated that the expansion of the drug industry will accelerate the growth of the healthcare cold chain logistics market throughout the projection period since various types of healthcare products demand a significant degree of preservation and safety. Along with the development of the Covid-19 vaccine Covid-19 vaccine, the expanding pharmaceutical industry, advancements in disease research, capital spending in R&D for vaccine development, and an expansion in the number of refrigerated factories are anticipated to drive the vaccine cold chain logistics market during the forecast period.

In most countries, the delay in reimbursement is a significant barrier to market expansion. The reimbursement process for healthcare cold chain logistics is challenging. The market is challenged by the reimbursement procedure' complexity alone. Since different countries' reimbursement processes differ, the market cannot grow. As a result, corporate expansion in developing countries is constrained by the lack of reimbursement. The market expansion is anticipated to be hampered during the forecast years by the high operational costs and the absence of established standards for managing cold chain transportation.

The North American vaccine cold chain logistics market is expected to register a significant market share. The market expansion in developing countries is also anticipated to be fueled by surge in the development of vaccines including mRNA and Covid-19. COVID-19 vaccines COVID-19 vaccines necessitate particular cold chain requirements from manufacturing to transit to warehouses and healthcare institutions.

Besides, the Asia Pacific area is predicted to grow quickly during the projected period due to increased government spending on infrastructure for cold chain logistics The increased emphasis on healthcare cold chain logistics to store vaccines at controlled temperatures for vaccination efforts is driving regional market expansion.The countries of Japan, South Korea, China, and India have had the most growth. Governments in several countries are implementing stringent regulations to ensure the safe handling of temperature-sensitive pharmaceutical products.

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Key developments in the market

In Nov 2022,UPS has completed its previously announced acquisition of Bomi Group, a leading multi-national healthcare logistics business. UPS Healthcare, the company's healthcare division, will add temperature-controlled facilities in 14 countries, as well as 3,000 highly experienced professionals to the UPS team across Europe and Latin America, as a result of the acquisition.

In July 2022, DHL Express increased its air network by launching its first dedicated freight route between the United States and Brazil. The new connection to Brazil is part of DHL Express' overall expansion plan in the Americas, which includes expenditures totaling more than USD $360 million between 2020 and 2022. The airline is continuing to expand its air cargo capacity in order to meet rising freight demand, particularly from the e-commerce sector.

In Oct 2022, Yusen Logistics will launch a direct ocean freight forwarding service from Chattogram port in Bangladesh to Tokyo and Kobe in October. Yusen Logistics will launch its own centralised direct ocean freight forwarding service from Bangladesh to Japan to fulfil the increased demand for transportation, notably for garment cargoes.

In Aug 2022, Azenta, Inc. has reached an agreement to acquire B Medical Systems S.á r.l. and its subsidiaries. This acquisition expands Azenta's cold chain capabilities by providing distinct solutions for the safe and traceable transportation of temperature-sensitive specimens. As part of Azenta, B Medical will get substantial knowledge and engineering in sample management and an expanded market presence in North America and Europe.

In Oct 2021, Marken, UPS Healthcare's clinical trial logistics division, has expanded its global network to meet rising demand for its clinical drug supply chain services, notably for cell and gene clinical trials. Plans for 2021 and 2022 will support increased demand for mRNA therapeutics, cell and gene therapies, early access, and controlled access initiatives. New sites, enhanced cold chain services, and packaging solutions are among the expansion goals.

In Sept 2021, Lynden International stated that it will begin performing business as Lynden Logistics, Inc. ("Lynden Logistics") to better reflect its entire range of capabilities and services.

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