Global Cold Chain Logistics Market for Pharmaceuticals Industry 2018-2022
About Cold Chain Logistics Market for Pharmaceuticals Industry
Cold chain logistics for the pharmaceuticals industry refers to an uninterrupted series of refrigerated supply chain activities including refrigerated storage and transportation from their production point to destination of consumption.
Technavio’s analysts forecast the global cold chain logistics market for pharmaceuticals industry to grow at a CAGR of 7.02% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global cold chain logistics market for pharmaceuticals industry for 2018-2022. This market research report offers a comprehensive analysis of the market segmentation by service (warehousing and VAS, and transportation).
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Cold Chain Logistics Market for Pharmaceuticals Industry 2018-2022
Technavio recognizes the following companies as the key players in the global cold chain logistics market for pharmaceuticals industry: Agility, Deutsche Post DHL Group, FedEx, KUEHNE + NAGEL, and United Parcel Service.
Commenting on the report, an analyst from Technavio’s team said: “The high fragmentation of the cold chain logistics market in the pharmaceutical industry is restricting big companies from expanding into new market spaces. Thus, the consolidation of the global healthcare logistics market will be a key trend that will help big players to adopt local technologies, expand market presence and thereby drive the growth of the cold chain logistics market in the pharmaceutical industry.”
According to the report, one of the major drivers for this market is the increase in global demand for pharmaceuticals. The increase in average life expectancy is driving pharmaceutical sales. Also, health insurance schemes launched by several countries such as the US and India will further boost pharmaceutical sales and consequently trigger cold chain logistics market growth in the pharmaceutical industry.
Further, the report states that one of the major factors hindering the growth of this market is the increase in operational costs due to functional barriers. The rise in industrial and warehouse rents and increasing land costs are affecting the profit margins of the vendors. High power consumption and import barriers are also some of the factors hampering the growth of the cold chain logistics market in the pharmaceutical industry.
Deutsche Post DHL Group
KUEHNE + NAGEL
United Parcel Service