Demand for Temperature Controlled Pharma Packaging Solutions to Reach over US$ 9 Bn by 2030; FMI Projects a Decline till Q2 2020 Amid COVID-19 Pandemic

Published On : 01/06/2022

A new study of Future Market Insights (FMI) on the global temperature controlled packaging solutions market has projected the market valuation to surpass US$ 9 Bn by the end of forecast period, 2020 – 2030. However, the market is most likely to witness a decline in the first two quarters of 2020 due to the high impact of COVID 2019. Restrictions of trading and continuous lockdown in major emerging countries such as China and India is further hindering the growth of pharmaceutical packaging industries. However, with the better precautions and planning by the government of developed and developing countries, it is expected that the demand and supply of temperature controlled pharma packaging solutions will be in balanced by the end of 2020.

The temperature controlled pharma packaging solutions are recyclable and cost-effective. These systems are designed and validated as per the standards for ensuring product safety. The temperature controlled pharma packaging solutions are primarily used for packaging of biological products and samples, vaccines, pharmaceutical ingredients, and many others.

Complications across supply chains, caused by the worldwide coronavirus outbreak further accelerate the need for enhanced shelf-life of pharma products during shipment and cold storage. Growing preference for active packaging solutions among end users will also be important trend over the next decade.

Key Takeaways of Temperature Controlled Pharma Packaging Solutions Market Study

• Insulated shippers will hold a maximum market share during 2020-2030, attributable to extreme temperature control.
• EPS foam containers type of insulated shipper is expected to remain lucrative in terms of market share and incremental revenue opportunity, during 2020-2030
• As per FMI analysis, the temperature controlled pharma packaging solutions are mostly used for chilled applications. This application segment is expected to expand by 150 bps of current market share, by 2030.
• North America is expected to hold the leading position in the global temperature controlled pharma packaging solutions market in the next decade.

Temperature Controlled Pharma Packaging Solutions Market Landscape

The global temperature controlled pharma packaging solutions market is highly competitive and local and unorganized players are participating to leverage the significant growth opportunities. Key players focus on product innovation and acquisitions with an aim to increase their global presence and customer base in the global temperature controlled pharma packaging solutions market.

For Instance,

• In January 2020, Sonoco Products Company acquired Thermoform Engineered Quality, LLC, and Plastique Holdings, LTD, a leading manufacturer of thermoformed packaging serving healthcare, medical device and consumer markets, from ESCO Technologies, Inc. by investing US$187 million. Through this acquisition the company is planning to enhance its product portfolio and increase customer reach.
• In February 2020, Pelican Biothermal announced the opening of a network station in Toronto to service its Crēdo™ on Demand rental program. 

About Temperature Controlled Pharma Packaging Solutions Market Report

Future Market Insights, in its new report, offers an unbiased analysis of the global temperature controlled pharma packaging solutions market, analyzing historical demand from 2015-2019 and forecast statistics for 2020-2030. The study offers growth projections on the temperature controlled pharma packaging solutions market based on product (insulated shippers {panels and envelopes, fiberboard, EPS foam container, and PUR}, insulated containers {chest style and upright style}, insulated protective shippers, and others) and application (frozen, chilled, and ambient) across seven key regions.

For critical insights on this market, request to ask an expert here @ https://www.futuremarketinsights.com/askus/rep-gb-1446

Explore FMI’s Extensive Coverage on Packaging Domain 

Clamshell Packaging Market : Clamshell Packaging Market By Packaging Type (Trays, Bowls, Boxes & Containers and Others), Material Type (Plastic and Paper/Paperboard), Product Type (Mock Clamshells, 2-Piece Clamshells and Tri-Fold Clamshells) & Region – Forecast to 2022 – 2028

Duct Tapes Market : Duct Tapes Market By Product Type (Removable Duct Tapes, Professional Grade Duct Tapes, Utility Duct Tapes, Specialized High Strength Duct Tapes), Adhesive Type (Natural, Rubber based Adhesives, Synthetic Rubber based Adhesives) & Region – Forecast 2021 – 2031

Corrugated Boxes Market :  

Corrugated Boxes Market By Product Type (Slotted Box, Folder Box, Telescope Box, Die-Cut Box, ), Board Type (Single Face Board, Single Wall Board, Double Wall Board, Triple Wall Board) & Region – Forecast 2021 – 2031

About Future Market Insights (FMI) 

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. 

Contact: 

Future Market Insights, 

1602-6 Jumeirah Bay X2 Tower, 

Plot No: JLT-PH2-X2A, 

Jumeirah Lakes Towers, Dubai, 

United Arab Emirates 

For Sales Enquiries: sales@futuremarketinsights.com 

For Media Enquiries: press@futuremarketinsights.com 

Website: https://www.futuremarketinsights.com/ 

Report: https://www.futuremarketinsights.com/reports/temperature-controlled-pharmaceutical-packaging-solutions-market

Press Release Source: https://www.futuremarketinsights.com/press-release/temperature-controlled-pharmaceutical-packaging-solutions-market

Uma Rajagopal

Uma Rajagopal has been managing the posting of content for multiple platforms since 2021, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune. Her role ensures that content is published accurately and efficiently across these diverse publications.