Healthcare Cold Chain Monitoring Market

• 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.

The increasing demand for biopharmaceuticals is a key driver in the Global Healthcare Cold Chain Monitoring Market Industry. As more biopharmaceutical products, including vaccines and monoclonal antibodies, require stringent temperature control during transportation and storage, the need for effective cold chain monitoring solutions intensifies. In 2024, the market is valued at approximately 2.65 USD Billion, reflecting the growing emphasis on maintaining product integrity. The biopharmaceutical sector's expansion is projected to continue, with the market expected to reach 8.0 USD Billion by 2035, indicating a robust growth trajectory that underscores the importance of cold chain systems.

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.

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.