Global Healthcare Cold Chain Monitoring Market Overview:
Healthcare Cold Chain Monitoring Market Size was valued at USD 2.36 Billion in 2023. The Healthcare Cold Chain Monitoring industry is projected to grow from USD 2.647 Billion in 2024 to USD 5.92 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 10.58% during the forecast period (2024 - 2032). The increasing demand for cold chain monitoring products in the pharmaceutical and healthcare supply chain, growing government initiatives to prevent spoilage of temperature-sensitive items, and increasing demand for temperature-sensitive products are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Healthcare Cold Chain Monitoring Market Trends
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Increasing demand for temperature sensitive-drugs is driving the market growth.
Market CAGR for healthcare cold chain monitoring is being driven by increasing demand for temperature-sensitive drugs, such as vaccines and products that are dependent on particular temperature ranges for chemical stability. As per the International Institute of Refrigeration (IIR), the market for heat-sensitive health products such as drugs, insulin, vaccines, derived blood products, and oncology products is growing globally every year. Hence, the conveyance of these drugs is the most crucial phase in the cold chain owing to the possibility of unforeseen environmental variations. Any change in temperature during transportation can impact the medicines, losing their potency to heal the ailments they are meant for, thereby leading to inadequate treatment in numerous cases. To detour the degradation of any pharmaceutical product, it is important to maintain parameters regarding the product-specific environment, including air quality levels and temperature ranges.
Additionally, providing end-to-end visibility and essential monitoring at the packaging stage of the products via the pharmaceutical supply chain operation is of utmost importance. As manufactured drugs contain high-value active ingredients with shorter shelf life and strict temperature requirements, the need for temperature control and monitoring throughout the supply chain has increased. Therefore, temperature-sensitive pharmaceutical products require cold-chain monitoring solutions. Healthcare cold chain monitoring refers to controlling devices equipped with sensors that allow the transportation of temperature-sensitive products at a given temperature range, between 2 and 8°C.
In addition, pharmaceutical manufacturers require efficient cold chain monitoring systems, extended temperature for transportation, and expanded coverage to include over-the-counter drugs. For instance, in April 2019, Active pharmaceutical ingredients (APIs), clinical trials, and other pharmaceutical and life sciences products that offer transport and storage in low temperature-controlled environments are just a few of the products that Controlant has introduced with its PR-T80 Digital Temperature Probe. This cutting-edge real-time solution is designed for dry ice applications, APIs, clinical trials, and other products. Therefore, the increased focus on quality & product sensitivity in the pharmaceutical sectors is expected to drive the healthcare cold chain monitoring market revenue.
The different warehouse notices various temperature zone. Therefore, constant temperature monitoring is important to control the temperature of the goods stored along with the actual condition of these goods. The best use of warehouses and control over proper equipment can be performed by using automation, including robotic equipment, to find inter-warehouse stock movements and unloading & loading exercises. Warehouse systems help adequate storage space utilization, decrease wear and tear, improve dependability, and reduce operating expenses. Real-time visibility of shipment area, temperature, humidity, and other climatic factors allows manufacturers and distributors to carry out faster preventative measures, lowering the risk of spoilage or contamination.
Healthcare Cold Chain Monitoring Market Segment Insights:
Healthcare Cold Chain Monitoring Component Insights
The Healthcare Cold Chain Monitoring Market segmentation, based on components, includes hardware {sensors, data loggers, real-time monitoring devices, RFID devices, and resistance temperature detectors}, and software {cloud-based and on-premises}. The software segment dominated the market, accounting for 35% of market revenue (0.83 Billion). Cloud-based software enables real-time monitoring of temperature and reporting of the status. Cloud-based software also helps enhance the efficiency and efficacy of the cold chain. However, hardware is the fastest-growing category due to its deployment on an extensive range.
Healthcare Cold Chain Monitoring Temperature Insights
The Healthcare Cold Chain Monitoring Market segmentation, based on temperature, includes frozen and chilled. The chilled category generated the most income (70.4%). Some medications need to be maintained at specified temperature ranges, typically -25° to -10°C (-13° to 14°F). This primarily refers to injections, antibiotics, and eye and ear drops. However, frozen is the fastest-growing category due to the growing demand for frozen injections to treat several diseases.
Healthcare Cold Chain Monitoring End User Insights
The Healthcare Cold Chain Monitoring Market segmentation, based on end users, includes biopharmaceutical companies, hospitals & clinics, research institutes, and others. The hospitals & clinics category generated the most income owing to the stringent regulatory standards applicable in various parts of the globe to ensure the safe and secure storage of pharmaceutical products. However, biopharmaceutical companies are the fastest-growing category, as some drugs and medicines are highly temperature-sensitive and must be stored and transported at consistent temperature levels.
Healthcare Cold Chain Monitoring Products Insights
The Healthcare Cold Chain Monitoring Market segmentation, based on products, includes vaccines, biopharmaceuticals, clinical trial materials, and others. The vaccines category generated the most income as vaccines are biological products; they risk losing their effectiveness if exposed to extreme heat or cold, which drives the market for healthcare cold chain monitoring. However, clinical trial materials are the fastest-growing category due to the growing demand for clinical trial materials to keep in different temperatures.
Figure 1: Healthcare Cold Chain Monitoring Market, by Products, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Healthcare Cold Chain Monitoring Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American healthcare cold chain monitoring market owing to an increase in demand for temperature-sensitive drugs, such as vaccines and products dependent on particular temperature ranges for chemical stability, will boost the market growth in this region. Further, the US healthcare cold chain monitoring market held the largest market share, and the Canadian healthcare cold chain monitoring market was the fastest-growing market in the North American region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Healthcare Cold Chain Monitoring Market SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe's healthcare cold chain monitoring market accounts for the second-largest market share due to the continuous innovation in R&D efforts to develop cost-effective and user-friendly healthcare cold chain monitoring devices. Further, the German healthcare cold chain monitoring market held the largest market share, and the UK healthcare cold chain monitoring market was the fastest-growing market in the European region.
The Asia-Pacific healthcare cold chain monitoring market is expected to grow at the fastest CAGR from 2024 to 2032. This is due to expanding awareness of a healthcare cold chain monitoring device and rising per capita disposable income. Moreover, China’s healthcare cold chain monitoring market held the largest market share, and the Indian healthcare cold chain monitoring market was the fastest-growing market in the Asia-Pacific region.
Healthcare Cold Chain Monitoring Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development to expand their product lines, which will help the healthcare cold chain monitoring market grow even more. Market participants are also undertaking various strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the healthcare cold chain monitoring industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the global healthcare cold chain monitoring industry to benefit clients and increase the market sector. Major players in the healthcare cold chain monitoring market, including Carrier (United States), Testo SE & Co. KGaA (Germany), Monnit Corporation Berlinger & Co. AG (United States), Testo SE & Co. KGaA (Germany), and others, are attempting to increase market demand by investing in research and development operations.
DHL Supply Chain is a contract logistics company in North America. It works as the supply chain segment of Deutsche Post DHL, the world's leading logistics group. The company provides customer-focused solutions to various industries, such as automotive, retail, consumer, engineering and manufacturing, life sciences & healthcare, energy, technology, and chemicals. It also offers supply chain solutions and third-party logistics services. DHL Supply Chain provides supply chain design, inbound manufacturing, consulting, assembly and packing, warehousing, order fulfillment, and transportation services. The company serves clinical trial logistics, global freight management, IT solutions, and value-added services. In September 2022, DHL Supply Chain acquired Mexico-based pharmaceutical and healthcare logistics specialist New Transport Applications (NTA).
ORBCOMM, Inc. offers wireless messaging services. The Company operates low earth orbit satellites and ground infrastructure that enable customers to track, control, monitor, and communicate with selected and mobile assets anywhere in the world. In November 2019, Orbcomm launched the new reefer connect and vessel connect platforms, which have been extended to manage the intermodal industry and energy-efficient controlled atmosphere technology-based containers.
Key Companies in the Healthcare Cold Chain Monitoring market include
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Carrier (United States)
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Testo SE & Co. KGaA (Germany)
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Monnit Corporation Berlinger & Co. AG (United States)
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Emerson (United States)
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Signatrol (United Kingdom)
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Haier Biomedical (United Kingdom)
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Temptime Corporation (United States)
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Cold Chain Technologies (United States)
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Testo SE & Co. KGaA (Germany)
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Dickson Spotsee (Netherlands)
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Rotronic (Switzerland)
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Elpro (India)
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Controlant (Iceland)
Healthcare Cold Chain Monitoring Industry Developments
July 2023: UnaBiz and Soracom signed a Global IoT Distribution Agreement to offer cellular connectivity to UnaBiz’s customers. The collaboration aims to provide pervasive Global IoT Network Coverage from 0G to 5G, enabling massive IoT deployments. This collaboration strengthens the companies’ shared vision of enabling IoT at scale, supporting business objectives, and promoting sustainability through ESG (Environmental, Social, and Governance) goals.
Digital Matter’s Hawk IoT Data Logger has been awarded the 2023 IoT Evolution Product of the Year Award in July 2023 which is an outstanding innovation in the market of monitoring devices for Internet of Things sensors. The Hawk offers a flexible and simplified approach to remote monitoring solutions thereby cutting down costs and complexities for its users. This award underscores the firm’s commitment to delivering exceptional products as well as driving forward innovation.
May 2023: Tridentify announced that its real-time temperature monitoring system will be launched in May 2023. The system includes real-time monitoring of shelf life remaining and stability for pharmaceutical products. By doing this launch, they wanted to help businesses optimize their operations.
January 2023: Constellation Cold Logistics, through its wholly-owned subsidiary HSH Cold Stores Ltd, announced an agreement to acquire Associated Cold Stores & Transport Limited, a subsidiary of Camellia Plc. The transaction was closed in January 2023 and will expand and strengthen HSH's footprint and service offering for existing and new customers.
August 2022: UPS Healthcare continued its investments in the Benelux and launched a new cold chain ground transportation service operating across the market with a sorting hub in the Netherlands and Belgium.
Healthcare Cold Chain Monitoring Market Segmentation:
Healthcare Cold Chain Monitoring Component Outlook
Healthcare Cold Chain Monitoring Temperature Outlook
Healthcare Cold Chain Monitoring End User Outlook
Healthcare Cold Chain Monitoring Products Outlook
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Vaccines
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Biopharmaceutical
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Clinical Trial Materials
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Others
Healthcare Cold Chain Monitoring Regional Outlook
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Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
| Report Attribute/Metric |
Details |
| Market Size 2023 |
USD 2.36 Billion |
| Market Size 2024 |
USD 2.647 Billion |
| Market Size 2032 |
USD 5.92 Billion |
| Compound Annual Growth Rate (CAGR) |
10.58% (2024-2032) |
| Base Year |
2023 |
| Market Forecast Period |
2024-2032 |
| Historical Data |
2018- 2022 |
| Market Forecast Units |
Value (USD Billion) |
| Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered |
Component, Temperature, End User, Products, and Region |
| Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered |
The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled |
Carrier (United States), Monnit Corporation Berlinger & Co. AG (United States), Emerson (United States), Testo SE & Co. KGaA (Germany), Signatrol (United Kingdom), Haier Biomedical (United Kingdom), and Temptime Corporation (United States) |
| Key Market Opportunities |
The rise in demand for pharmaceuticals products that depend on specific temperature ranges for chemical stability |
| Key Market Dynamics |
Rising development of solutions for monitoring the temperature of the cold chain |
Frequently Asked Questions (FAQ) :
The Healthcare Cold Chain Monitoring Market size was valued at USD 2.36 Billion in 2023.
The global market is projected to grow at a CAGR of 10.58% during the forecast period, 2024-2032.
North America had the largest share of the global market
The key players in the market are Carrier (United States), Monnit Corporation Berlinger & Co. AG (United States), Testo SE & Co. KGaA (Germany), Emerson (United States), Signatrol (United Kingdom), Haier Biomedical (United Kingdom), and Temptime Corporation (United States).
The hardware category dominated the market in 2022.
The chilled had the largest share in the global market.
The hospitals and clinics category dominated the market in 2022.
The vaccines had the largest share of the global market.
