Temperature controlled packaging | Coherent Market Insights

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2. TEMPERATURE CONTROLLED PACKAGING SOLUTIONS FOR PHARMACEUTICALS MARKET ANALYSIS • Temperature controlled Packaging Solutions for Pharmaceuticals Market, 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), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

3. The global temperature-controlled packaging solutions for pharmaceuticals market is projected to reach US$ 7.3 billion by the end of 2027, in terms of revenue, growing at CAGR of  9.6% during the forecast period (2019 to 2027)

4. Drivers • Implementation of strict government rules and regulation by the government in order to improve the distribution practices of pharmaceutical goods are expected to fuel the market growth. For example, the Food & Drug Administration (US), Regulation 21 CFR 211.150 “Distribution procedures,” says that pharmaceutical products must be shipped within appropriate temperatures and under accurate conditions in accordance with requirements and appropriate manual, electromechanical, or electronic temperature and humidity recording equipment, devices, and/or logs shall be utilized to document proper storage of prescription drugs.

5. Growing research and development programs around the globe for enhancing manufacturing and packaging process in pharmaceuticals and biotech industries are expected to propel the market growth of Temperature-controlled packaging solutions for pharmaceuticals. Moreover, the increasing development of novel drugs and therapies such as stem cells, r-proteins and monoclonal antibodies alongside pharmaceutical materials have further raised the demand for cold chain packaging system at various stages of product development, thereby propelling market growth.

6. Figure 1. Global Temperature-Controlled Packaging Solutions for Pharmaceuticals Market, Revenue Share (%), By Region, 2018

7. Market Restraints • High investment and maintenance cost associated with the temperature controlled pharmaceutical packaging solution in pharmaceutical the industry is estimated to hinder the market growth over the forecast period. Moreover, various strict government legislations on the usage of certain types of pharmaceutical products for manufacturing temperature-controlled packaging solution is also expected to restrict the market growth of temperature-controlled packaging solutions for pharmaceuticals.

8. Lack of awareness regarding the benefits of temperature-controlled packaging solutions for pharmaceuticals as only a few companies in the industry utilizes Temperature-controlled packaging solutions for pharmaceuticals is projected to hamper the market growth over the forecast period. Moreover, lots of precautions are need to maintain during packaging of pharmaceutical product such as the container should be clean and dry etc. Aforementioned factors are projected to restrict the market growth of temperature-controlled packaging solutions for pharmaceuticals.

9. Market Opportunities • Adoption of new high performance convection systems that are efficient for warehousing and supply of pharmaceutical products is expected to offer new growth opportunity to the market of temperature-controlled packaging solutions in pharmaceutical industry. Rising usage of vacuum panel insulation with phase change materials can enhance the shelf life of stored pharmaceutical product. Therefore, the rising adoption of such advanced technologies in the pharmaceutical industry is expected to foster the market growth. • Growing focus of pharmaceutical manufacturer to produce drugs and therapies for rare diseases. These drugs are composed of high-value ingredients and have short shelf lives as a result of which they require strict temperature-controlled environment. Thereby, this is expected to foster the Ultra-low Temperature Range packaging solutions.

10. Figure 2. Global Temperature-Controlled Packaging Solutions for Pharmaceuticals Market – Opportunity Analysis

11. Market Trends • The growing need for better product handling of pharmaceutical products that are temperature sensitive has raised the adoption of more advanced temperature-controlled packaging insulation products such as PCMs, VIP, and sheep wool VIP based insulation and PCM-based refrigerants that serve various advantages over conventional polystyrene (EPS) and polyurethane insulated shippers. PCMs and VIPs are comparatively lightweight, offer a wide range of temperature and cut down the distribution costs which is expected to propel the market growth.

12. Growing focus of manufacturer to use reusable packaging containers is projected to propel the market growth of temperature-controlled packaging solutions for pharmaceuticals. Due to regulatory pressure and need to reduce the transportation costs, vendors are focusing on adopting reusable packaging container rather than one-way (disposable) systems as it reduces the usage of refrigerants and insulation products that are associated with ozone depletion and global warming. Aforementioned factors are projected to foster the market growth.

13. Figure 3. Global Temperature-Controlled Packaging Solutions for Pharmaceuticals Market, Revenue Share (%), By Application, in 2018

14. Competitive Section: • Key players active in the global temperature-controlled packaging solutions for pharmaceuticals market Sonoco Products Company, Pelican Biothermal, Sofrigam SA Ltd., Cryopak, Cold Chain Technologies, Envirotainer Ltd., VA-Q-Tec AG, Inmark Packaging, American Aerogel Corporation

15. Few Recent Developments • Sonoco Products Company • In March 2016, Sonoco Thermosafe launched reusable insulated container with 440 liters capacity for storage and distribution of perishable pharma products and ice  • In March 2015, Sonoco launched a new flexible bag with cross-seal technology to provide customers an easy to open quad-seal flexible bag

16. Pelican Biothermal • On 27 January 2016, Pelican Biothermal launched innovative Credo Cargo Pallet Shipper System, a reusable bulk shipper with innovative slot-in components for easy loading and unloading • In September 2015, Pelican Biothermal announced a collaboration with ZuelligPharma, an Asia based pharmaceutical company, to strengthen its developing services in Asia and utilize its reusable Credo products for parcel shipments

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