Healthcare Cold Chain Monitoring Companies
These companies focus on solutions for monitoring and maintaining the temperature and integrity of pharmaceuticals and medical supplies during storage and transportation in the healthcare industry.
These companies focus on solutions for monitoring and maintaining the temperature and integrity of pharmaceuticals and medical supplies during storage and transportation in the healthcare industry.
The Competitive Landscape of the Healthcare Cold Chain Monitoring Market
The healthcare cold chain, a meticulous web of temperature-controlled environments safeguarding essential pharmaceuticals, vaccines, and biological materials, has emerged as a vital battleground in the global healthcare landscape. The stakes are high – maintaining consistent temperatures throughout storage, transportation, and distribution is crucial for ensuring the efficacy and safety of these life-saving products. Understanding the competitive dynamics, adopted strategies, key players, and emerging trends in this complex and critical market is crucial for players seeking to thrive in this chilling arena.
Some of the Healthcare Cold Chain Monitoring companies listed below:
Strategies Adopted by Leaders:
Factors for Market Share Analysis:
New and Emerging Companies:
Latest Company Updates:
On Dec. 14, 2021, Onset, a leading manufacturer and innovator of data logging solutions announced that Merck KGaA (Germany) has completed the integration of Onset's InTemp monitoring solution into its global cold chain shipping operations. Developed in 2015, the InTemp product line meets the pharmaceutical industry's growing need for increased data visibility and IoT automation that replaces traditional USB-based data loggers.
On Dec. 15, 2021, CSafe Global, a leader in temperature-controlled container solutions, announced the acquisition of Softbox Systems, a leading passive temperature-controlled packaging solutions provider. The acquisition would position CSafe as the global leader in temperature-controlled shipping solutions, significantly enhancing its passive product portfolio.
CSafe and Softbox cater to pharmaceutical, life science and cold chain logistics industries. Together, these companies would provide a comprehensive suite of thermal shipping solutions and meet all pharmaceutical cold chain shipping needs, enabling delivery of critical temperature-sensitive products, such as next-generation biologics, cell & gene therapy, and mRNA therapies, including the COVID-19 vaccine.
On Oct. 11, 2021, Marken, UPS Healthcare's clinical trial logistics unit, announced the addition of significant capacity to support growing demand for cell and gene therapies, expanding the global cold chain logistics network. Marken is accelerating the expansion of clinical supply chain networks across all regions to provide increased flexibility and global access for partners, including in emerging markets like South Korea and Sub-Saharan Africa.
Marken has expanded its global network to support increased demand for its clinical drug supply chain services. Expansion plans, including new locations and, cold chain services & packaging solutions, will support accelerated demand for mRNA therapies, cell & gene therapies, and early access and managed access programs. These investments are critical, especially for cell and gene therapy developers, where mRNA, CAR-T, and viral vectors have enabled increased innovation.
The Healthcare Cold Chain Monitoring Market size was valued at USD 2.1 Billion in 2022. The healthcare cold chain monitoring industry is projected to grow from USD 2.36 Billion in 2023 to USD 5.92 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 12.20% during the forecast period (2023 - 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
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 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.
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.
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.
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.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
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.
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 2023 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.
Carrier (United States)
Testo SE & Co. KGaA (Germany)
Monnit Corporation Berlinger & Co. AG (United States)
Emerson (United States)
Signatrol (United Kingdom)
Haier Biomedical (United Kingdom)
Temptime Corporation (United States)
Cold Chain Technologies (United States)
Testo SE & Co. KGaA (Germany)
Dickson Spotsee (Netherlands)
Rotronic (Switzerland)
Elpro (India)
Controlant (Iceland)
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.
Hardware
Sensors
Data Loggers
Real-Time Monitoring Device
RFID Devices
Resistance Temperature Detectors
Software
Cloud-Based
On-Premises
Frozen
Chilled
Biopharmaceuticals Companies
Hospitals & Clinics
Research Institutes
Others
Vaccines
Biopharmaceutical
Clinical Trial Materials
Others
North America
Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)