Presence of Major Pharmaceutical Companies in the Country With Vaccine Distribution Will Drive the Temperature Controlled Packaging Solutions Market

Northbrook, IL 60062 — (SBWIRE) — 05/06/2022 — The global Temperature Controlled Packaging Solutions Market size is estimated to be USD 34.4 billion in 2021 and is projected to reach USD 80.1 billion by 2026, at a CAGR of 18.4% between 2021 and 2026. TCP mainly finds its application in healthcare industry. The market during the forecast period is expected to be driven by growth in biopharmaceutical industry and utilisation of reusable shipping solution for shipment of temperature sensitive products.

Maintaining the desired temperature range for a predefined time is essential for temperature-sensitive products. Temperature fluctuation might degrade the quality of perishable goods. Temperature controlled packaging solutions help address this issue, as temperature-controlled packaging encompasses an outer protective packaging layer, an inner insulation layer, and refrigerants that surround the actual product. This helps to maintain a prescribed temperature range and prevents the degradation of products.

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Based on type, the TCP market is segmented into active and passive system. Active system is dominating the segment. Active containers have active temperature control, that means it maintains specific temperature range with minimum deviation. They are mainly electricity or battery-powered and more secure options for shipment of highly temperature-sensitive products. It is an expensive option and suitable for are suitable for the shipment of large volumes payload with substantial transit time, such as international shipments. The temperature accuracy provided by the active system is highest compared to the passive system. The growing transportation of bulk volume payload of temperature-sensitive pharmaceutical products will drive the active systems during the forecast period.

Based on usability, the TCP market is segmented into single use and reuse. Single-use packaging systems are basic containers that are suitable for one shipment. These are lightweight and inexpensive option for shipment of temperature sensitive products. These containers are available in multiple sizes and are suitable for various temperature ranges (ambient and chilled) providing, a duration of more than 120 hours. Single-use is a low total cost of ownership (TCO) option for customers of temperature-controlled packaging solutions. A reusable temperature-controlled packaging solution is a durable option and is suitable for multiple shipments. It includes an active and passive system for temperature-controlled packaging shipment. The materials used in the manufacturing of reusable containers have high durability compared to single-use containers. Reuse

is an expensive option than single use. However, the packaging waste in reuse is minimum compared to a single use. Reuse tends to cost-effective in the long term if the return rate is optimized.

Based on end use industry, the market is segmented into pharma and biopharma industry. Pharma industries include products that are derived from synthetic or chemical processes (artificial sources). Its products include medicines and other drugs. In the recent past, the production of pharmaceutical products has significantly increased and are imported and exported worldwide. Pharmaceuticals are susceptible to be damaged due to temperature deviation, humidity, and other reasons. Therefore, the products are transported in temperature-controlled packaging solutions across the globe. Biopharma products are derived from living organisms (biological sources). It includes vaccines, tissues, cell & gene therapies, clinical trials, blood, blood components, and others. These products require to keep at a specific temperature throughout the shipment. Active or passive containers are utilized for the bulk payload volume of products such as vaccines. The distribution is regulated by Good Distribution Practices (GDP) for safe and secure shipment of the payload.

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The Temperature Controlled Packaging Solutions Market is studied for five regions, namely, North America, APAC, Europe, Middle East & Africa, and South America. North America accounted for the largest share of the TCP market in 2020, followed by APAC and Europe. Germany and US are major market for TCP in Europe and North America respectively. The increased demand for TCP in North America is due to the presence of significant number of pharma/biopharma industries in the region. The market in this region is driven by supply and distribution of temperature sensitive pharmaceutical/ biopharmaceutical products across the globe.

Due to COVID-19 pandemic the demand for vaccines, medicines and other related products increased. These are temperature sensitive products and requires temperature-controlled packaging for supply and distribution. The demand for vaccines has increased significantly across the globe and the clinical trials have increase amid pandemic. The temperature-controlled packaging solutions are utilized to transport active ingredients for vaccine production and the distribution of vaccines worldwide. The manufacturers of packaging solutions are expanding their global presence to improve their reach for the distribution of vaccines. They are coming into partnership agreements with other members in the supply chain such as cargo airlines, for improving their operational efficiency. Moreover, the companies are collaborating with pharmaceutical manufacturers to develop customized products as per the specific requirement for the shipment of COVID-19 vaccines.

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