Market research, 07 February 2024
The global Vaccine Cold Chain Logistics market size was accounted at USD 3.12 Bn in 2021; It is projected to grow at a compound annual growth rate (CAGR) of 5.2% from 2022 to 2030. Technological advancements have helped in the development of vaccines in recent years. Vaccines are widely used to control infectious diseases as one of the prevention strategies to maintain the sustainable health of the population. The current covid-19 outbreak has significantly created a huge demand for temperature-controlled storage for vaccines across the globe.
Several drug candidates are being developed and tested to treat COVID-19 infection. There are currently over 250 vaccines across seven platforms being designed and trialed to treat COVID-19 infection. Few candidates are about to receive government approval or at the end of late-stage clinical trials of the Covid-19 vaccine in several countries. However, the next challenge that awaits is the cold chain logistics for vaccine distribution in various countries with different weather conditions. The proper cold storage is critical in the case of covid-19 vaccines as they require temperature-controlled storage and distribution to maintain their efficacy and other properties.
As per the white paper published by DHL in December 2020, around 200,000 pallet shipments and 15 million deliveries in cooling boxes, as well as 15,000 flights, will be required across various supply chain set-ups in the next two years to provide global coverage. Thus, the stable, safe, and IT-enabled supply chain framework and durable physical logistics infrastructure would help vaccine distribution globally.
In addition to the Covid-19 vaccine development, breakthroughs in cancer research efforts, growing pharmaceutical industry, augmented investment in R&D for vaccine development, and increased number of refrigerated warehouses are expected to boost the vaccine cold chain logistics market during the forecast period.
The Global Vaccine Cold Chain Logistics market is categorized based on services, packaging methods, mode of transportation, holding temperature range, and container and region.
On the basis of services, the market is segmented into storage, packaging, transportation. Based on packaging methods, the market is segmented into dry ice, liquid nitrogen, gel packs. on the basis of mode of transportation, the market is segregated into ground, air, and ocean. Based on the holding temperature range, the market is classified into vaccines requiring refrigerated temperature, vaccines requiring frozen temperature, vaccines requiring cryogenic temperature. On the basis of the containers, the market is segmented into active containers, passive containers.
Based on the region, the market is studied across North America, Asia-Pacific, Europe, and LAMEA. Among all, North America is expected to dominate the market during the forecast period.
The key players in the market include Cryoport, DHL Express, GAC, Lynden International Logistics, PAREXEL, United Parcel Service, Yusen Logistics, and Other Prominent Players.
