Valley Cottage, NY -- (SBWIRE) -- 12/04/2017 -- Future Market Insights (FMI) delivers key insights and a revised forecast of the temperature controlled packaging solutions for pharmaceutical market in its latest report titled "Temperature Controlled Packaging Solutions for Pharmaceutical Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment 2017 – 2027."
In terms of value, the global temperature controlled packaging solutions for pharmaceutical market is projected to increase at a CAGR of 8.6% during the forecast period (2017–2027) owing to various factors, regarding which FMI offers vital insights in detail in this report.
Demand for biologics is anticipated to outpace overall pharmaceuticals spending growth, and biologics are expected to represent 20% growth in the near future. Novel therapies, new drug development and increasing clinical trials catapult demand for cold chain packaging solutions for pharmaceuticals.
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Restraints faced by the industry include high costs associated with temperature controlled pharmaceutical packaging. There is a need for better handling of temperature sensitive pharmaceutical products and this has resulted in increased research for more advanced temperature controlled packaging insulation materials such as VIP, PCMs and sheep wool.
One of the trends observed in the temperature controlled packaging solution market is the focus of pharmaceutical manufacturers on outsourcing packaging and transportation of temperature sensitive products to third party logistics companies. 3PLs offer customised end-to-end solutions for various products requiring different temperature ranges and type of handling. Strong distribution network of most 3PLs enables pharmaceutical companies to access new consumer base across the globe.
On the basis of region, APEJ is anticipated to dominate the global temperature controlled packaging for pharmaceuticals market. North America and Western Europe regions are anticipated to gain a market share of 26.5% and 21.2% respectively by the end of 2027. This is followed by Eastern Europe, which is expected to hold a share of 6.4% by the end of 2027.
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Key players in the global temperature controlled packaging solutions for pharmaceuticals market profiled in the report include Sonoco Products Company, Pelican Biothermal, Cryopak, Cold Chain Technologies, Envirotainer Ltd., va-Q-tec AG, Inmark Packaging, American Aerogel Corporation, Snyder Industries, Inc., ACH Foam Technologies, LLC, Tempack Packaging Solutions, S.L., EcoCool GmbH, Exeltainer SL, Intelsius, Inno Cool India Pvt. Ltd., Softbox Systems, Insulated Products Corporation, TKT GmbH, and Saeplast America, Inc.