Asia-Pacific Healthcare Cold Chain Logistics Market (2022-2027): Pharmaceutical Sector Driving Market Growth
DUBLIN, April 18, 2022–(BUSINESS WIRE)–The “Asia-Pacific Healthcare Cold Chain Logistics Market – Growth, Trends, Impact of COVID-19 and Forecast (2022-2027)” report has been added to from ResearchAndMarkets.com offer.
The Asia-Pacific healthcare cold chain logistics market is expected to grow at a CAGR of over 10% during the forecast period.
Healthcare cold chain logistics companies, which are involved in the storage, movement and flow of goods, have been directly impacted by the COVID-19 pandemic.
The COVID-19 pandemic has impacted the healthcare cold chain industry’s supply chain due to trade restrictions during the pandemic, causing cold chain manufacturers refrigeration to focus on their storage to increase their shelf life, which is likely to propel the growth of the refrigeration market. chain.
With rising disposable incomes and an aging population, healthcare spending in the region is showing strong growth rates and remains critical to the growth prospects of multinational pharmaceutical and biotech companies.
A number of Asia-Pacific destinations such as India, China, Singapore and South Korea etc. are also emerging as major destinations for outsourcing clinical trials, drug manufacturing and pathology testing.
This has led to an increasing demand for temperature-sensitive healthcare products such as vaccines, biopharmaceuticals, clinical trial materials, etc. These trends have driven the demand for cold storage facilities in the Asia-Pacific region and spurred new investments in continuous infrastructure improvements. Governments in some Asian countries are taking corrective measures to improve healthcare cold chain logistics services.
The growth of the healthcare cold chain logistics market is attributed to the growing demand for biopharmaceuticals and vaccines that require stricter cold chains and government regulations for the efficient handling of sensitive pharmaceuticals. temperature.
Additionally, the thriving pharmaceutical sector to meet the healthcare needs of a growing population is fueling the demand for healthcare cold chain logistics. Factors, such as lack of standardization regarding operating procedures, safety, temperature, pest control, and high operating costs are restraining the growth of the market.
Main market trends
The growth of the pharmaceutical sector, driving the market
Pharmaceutical manufacturers in the Asia-Pacific region are increasingly focusing on product quality and sensitivity. Factors, such as the development of complex biological drugs and the shipping of complex hormone treatments, vaccines and proteins that require cold chain refinements, drive the need for temperature-controlled transport and storage. .
Temperature-controlled logistics of pharmaceuticals and medical devices is a significant growing part of the healthcare logistics industry. In the COVID-19 health crisis, cold chain logistics plays a vital role for the pharmaceutical sector, while rising health concerns are expected to support the growth of the healthcare cold chain logistics market healthcare in Asia-Pacific.
During the first quarter of 2021, China topped the top 50 pharmaceutical companies in Asia-Pacific (APAC) by market capitalization. At the end of the first quarter of 2021, the aggregate market capitalization of the 50 companies in APAC was up 3.8% compared to the fourth quarter of 2020, with 28 Chinese companies accounting for 60% of the total market capitalization.
The Japanese pharmaceutical market is expanding to become the second largest in the world. Foreign direct investment (FDI) has steadily increased in Japan’s pharmaceutical sector over the years, helping the country establish a global presence. Japan is home to four of the top 25 pharmaceutical companies in the world.
An increase in the need for efficient cold chain logistics services to maintain the quality of goods is fueling the growth of the market. In addition, the entire cold chain and logistics of the pharmaceutical industry become more strategic and more reliable. High value-added pharmaceuticals are mostly shipped through cold chain solutions across the distribution network, driving the market growth in Asia-Pacific.
Increase in the number of cold stores
The COVID-19 pandemic has brought about a significant shift in the supply chain outlook, enabling the increasing use of high-end digital technologies to achieve operational efficiency as well as health concerns. The changing outlook for the logistics industry, the requirement for substantial cost optimization and optimal inventory management are expected to support the growth of the Asia-Pacific healthcare cold chain logistics market.
Japanese logistics companies put their vast experience to work in Southeast Asia, building modern warehouses with features like temperature controls to meet the changing demands of local consumers. As people’s incomes improve in Asia, they expect faster delivery of online shopping orders, which requires automated warehouse management to save time and tight temperature controls to keep fresh goods.
Thailand is the Asian country with the most advanced warehouses. Indonesia, with a population of over 270 million, has enormous potential but has lagged behind in logistics development, in part due to transportation constraints posed by the country’s many islands. However, the demand from domestic-oriented enterprises is increasing,
Companies invest millions of dollars in their cold chain operations to create effective, efficient and reliable processes because end-to-end cold chain security is the weak link in the system. In addition, the number of cold storage warehouses is increasing, due to strong demand for food and pharmaceutical products in the Asia-Pacific region. Hence, an increase in cold storage is expected to drive the growth of the Asia-Pacific Healthcare Cold Chain Logistics market.
Kühne + Nagel
For more information on this report, visit https://www.researchandmarkets.com/r/lzjzht
See the source version on businesswire.com: https://www.businesswire.com/news/home/20220418005275/en/
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