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Aug 27th, 2024
The global healthcare cold chain logistics market is poised to grow over the next five years, according to a report from research firm TechNavio.
Demand in developing economies for generic pharmaceutical products is driving an increased need for temperature-sensitive healthcare transportation.
TechNavio estimates a compound annual growth rate of 13.31% between 2014-2019 in the cold chain market.
Faisal Ghaus, the company’s vice president, commented: “Recently, there’s been an increase in the demand for temperature-sensitive pharmaceuticals, and this is expected to propel the demand for cold chain logistics in the coming years.”
Cold chain management refers to the logistical process used to maintain optimal conditions during the transport, storage and handling of products such as pharmaceuticals and chemicals.
Healthcare products often include vaccines and blood plasma, frozen pharmaceuticals and insulin.
Recent years have seen increased investment in healthcare infrastructure and technologies to match demand for the transportation and storage of temperature-sensitive cargo.
TechNavio’s 200 global analysts develop over 2000 pieces of research every year.
