According to the latest market research report the global vaccine cold chain logistics market size was valued at US$ 3.12 Billion in 2021, and it is expected to reach US$ 4.59 Billion in 2028, recording a promising CAGR of 5.2% from 2022 to 2028.
Well-defined cold chain infrastructure and established vaccine supply networks are essential to maintain the potency of vaccines/drugs. In the healthcare industry, cold supply chain logistics is one of the important parts of temperature-controlled shipping and storage of pharmaceutical products such as vaccines, and it can maintain the quality and safety of vaccines. Recent technological advancements aid in the innovation and development of vaccine cold chain logistics services.
The growth of the Vaccine cold chain logistics market can be credited to various factors, such as the surging demand for mRNA based Vaccine, increasing need for efficacious cold chain logistics services to maintain the quality of products, high demand for infectious diseases vaccines, growing awareness among people about health & wellness, advancements in the packaging and transportation technologies, rising healthcare expenditure, and increasing R&D investments to develop vaccine storage facilities. The COVID-19 outbreak has significantly increased the demand for vaccine storage services, and hence, the pharmaceutical companies invested their efforts in developing cold chain logistics. Therefore, the rising R&D initiatives will likely offer new growth opportunities for the vaccine cold chain logistics market in the next few years. However, the high operational costs and the lack of standardized protocols for maintaining cold chain transportation are expected to hinder the market expansion during the forecast years.
The prominent players in the Vaccine Cold Chain Logistics industry include:
Cryoport (U.S.), DHL Express (Germany), GAC (Dubai), Lynden International Logistics (Canada), PAREXEL (U.S.), United Parcel Service (UPS Healthcare U.S.), DB Schenker (Germany), Yusen Logistics (U.S.), DB Schenker, CEVA Logistics, Q1 Scientific, Marken Ltd., AmeriCold Logistics LLC, FedEx Corporation, Yamato Logistics, and Other Prominent Players.
The increasing investments by players in vaccine development programs, expanding pharmaceutical sector, developing cold supply chain services, and the rising government efforts to establish COVID-19 vaccines will offer promising growth opportunities for the market players operating in the vaccine cold supply chain logistics market.
Vaccine Cold Chain Logistics Market Regional Analysis: North America majorly contributed to the vaccine cold chain logistics market in 2021 owing to the surging government initiatives for logistics infrastructure and the growing demand for cold chain storages systems. Asia Pacific is expected to witness rapid growth over the forecast period (2022-2030) due to the increasing demand for vaccines, rising R&D investments for pharmaceutical industry developments, and well-developed healthcare infrastructures. Factors such as the technological advancements in the storage and packaging of pharma products, high demand for cold chain systems, and the growing innovations in the pharmaceutical sector have made China a top market for cold chain logistics.