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The Healthcare Cold Chain Monitoring Market Size was valued at USD 2.29 billion in 2023 and is expected to reach USD 5.68 billion by 2032 and grow at a CAGR of 10.64% over the forecast period 2024-2032.
Cold chain monitoring is the use of IoT technology to continuously monitor temperature-sensitive products being transported in a "cold chain" a supply chain of perishable and/or temperature-sensitive products such as pharmaceuticals, biologics, and food& beverages. If not properly monitored, suboptimal conditions during shipping and storage may degrade the quality of these products.
KEY DRIVERS:
In the healthcare industry, there is a growing need for cold chain monitoring.
Increased adoption of IoT technology in the healthcare industry.
RESTRAINTS:
Keeping temperatures stable throughout the supply chain.
OPPORTUNITIES:
Cold chain storage warehouse automation is in high demand.
Increased investment in the pharmaceutical cold chain.
CHALLENGES:
This will be covered under the final version of the report.
COVID-19 vaccines are transported safely with the help of IoT monitoring. According to the WHO, more than 40% of vaccines produced in developing countries each year are wasted due to flaws in the cold chain system. Cold chain shipping destroys 22% of temperature-sensitive biopharmaceutical products, including plasma. Excursions, or vaccines exposed to temperatures above the acceptable range. When it comes to storing or shipping vaccines or other biological items that can become inert if stored or shipped outside of a manufacturer's approved temperature or humidity range, hospitals, healthcare service providers, and logistics companies rely on refrigerated systems. This highlights the importance of cold chain monitoring systems in the healthcare industry. The ability to monitor these facilities and take corrective action in the event of a failure is critical to ensuring patient safety.
Based on the Component, the healthcare cold chain monitoring is segmented into Hardware and Software.
Based on Temperature, the healthcare cold chain monitoring is segmented into Chilled and Frozen. Certain drugs and biologics must be kept at specific temperatures, usually -25° to -10°C (-13° to 14°F), or "frozen," to remain effective. This includes, among other things, eye and ear drops, antibiotics, and injections. Cold chain providers ensure that shipments arrive at the proper temperature.
Based on Product, the healthcare cold chain monitoring is segmented into Biopharmaceuticals, Vaccines and Clinical Trial Materials. The vaccines segment held the greatest market share. Vaccines are biological products that can lose their potency if exposed to high temperatures or freezing temperatures.
Based on End User, the healthcare cold chain monitoring is segmented into Hospital & Clinics, Biopharmaceutical Companies and Research Institutes. Biopharmaceutical companies work with complex medicinal products made from living cells and/or organisms that have undergone advanced biotechnological processes.
BY PRODUCT
Clinical Trial Materials
BY COMPONENT
Hardware
Software
BY TEMPERATURE
Chilled
Frozen
BY END USER
Hospital & Clinics
Biopharmaceutical Companies
Research Institutes
The market for healthcare cold chain monitoring has been researched in Asia-Pacific, North America, Europe, and the Rest of the World. North America held the largest market share. This can be attributed to the growing need for customised storage and transportation to ensure the effectiveness of healthcare products, as well as the region's growing emphasis on improving business agility.
The adoption of cold chain monitoring solutions by the midsize healthcare industry is expected to drive growth in the European healthcare cold chain monitoring market. The country's leading global cold chain monitoring innovator is constantly working to introduce new technologies.
Because of favourable government policies, the Chinese healthcare sector has expanded rapidly. China is an important player in the Asia-Pacific market due to its large population and increasing demand for cloud solutions by biopharmaceutical companies.
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REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The key players in the healthcare cold chain monitoring market are Carrier, Berlinger, Testo SE, Signatrol, Temptime Corporation, Monnit Corporation, Emerson Electric, KGaA, Haier Biomedical and Cold Chain Technologies and other players.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 2.29 Billion |
| Market Size by 2032 | US$ 5.68 Billion |
| CAGR |
CAGR of 10.64% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Product (Biopharmaceuticals, Vaccines, Clinical Trial Materials) • By Component (Hardware, Software) • By Temperature (Chilled, Frozen) • By End User (Hospital & Clinics, Biopharmaceutical Companies, Research Institutes) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Carrier, Berlinger, Testo SE, Signatrol, Temptime Corporation, Monnit Corporation, Emerson Electric, KGaA, Haier Biomedical and Cold Chain Technologies. |
| Key Drivers | • In the healthcare industry, there is a growing need for cold chain monitoring. • Increased adoption of IoT technology in the healthcare industry. |
| Restraints | • Keeping temperatures stable throughout the supply chain. |
Ans: The Healthcare Cold Chain Monitoring Market size was valued at 2.29 Bn in 2023.
The market value is expected to reach USD 5.68 billion by 2032.
The market has been segmented with respect to product, component, temperature and end-user.
Top-down research, bottom-up research, qualitative research, quantitative research, and Fundamental research.
Ans: The Healthcare Cold Chain Monitoring Market is growing at a CAGR of 10.64% over the forecast period 2024-2032.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Healthcare Cold Chain Monitoring Market Segmentation, by product
8.1Introduction
8.2 Biopharmaceuticals
8.3 Vaccines
8.4 Clinical Trial Materials
9. Healthcare Cold Chain Monitoring Market Segmentation, by component
9.1Introduction
9.2 Hardware
9.3 Software
10. Healthcare Cold Chain Monitoring Market Segmentation, by temperature
10.1 Introduction
10.2 Chilled
10.3 Frozen
11. Healthcare Cold Chain Monitoring Market Segmentation, by end user
11.1 Introduction
11.2 Hospital & Clinics
11.3 Biopharmaceutical Companies
11.4 Research Institutes
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 France
12.3.4 Italy
12.3.5 Spain
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4 Asia-Pacific
12.4.1 Japan
12.4.2 South Korea
12.4.3 China
12.4.4 India
12.4.5 Australia
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.1 Israel
12.5.2 UAE
12.5.3 South Africa
12.5.4 Rest
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Rest of Latin America
13. Company Profiles
13.1 Berlinger
13.1.1 Financial
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 Carrier
13.3 Testo SE
13.4 Signatrol
13.5 Temptime Corporation
13.6 Monnit Corporation
13.7 Emerson Electric
13.8 KGaA
13.9 Haier Biomedical
13.10 Cold Chain Technologies
14. Competitive Landscape
14.1 Competitive Benchmark
14.2 Market Share Analysis
14.3 Recent Developments
15. Conclusion
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