According to a recent market study published by Growth Market Reports, titled, “Global Healthcare Cold Storage Market by Temperature Type, by Storage Technique, by End-user, by Region: Size, Share, Trends and Opportunity Analysis, 2018-2028”, the market was valued at US$ 4,420.4 Million in 2020 and is expected to grow at a moderate growth rate of 13.1% by the year 2028. Increased automation in refrigerated warehouses is expected to drive up demand even more.

Healthcare cold storage refers to the ability of pharmaceutical products or other items to last in a refrigerator or other cold environment. Medicines stored in refrigerators has a long shelf life. Storing or moving temperature-sensitive products is an important aspect of the supply chain management process. Benefits of cold storage technology include advanced refrigeration technology and maintenance and tracking systems for diverse processing of vaccines and medicines, which considerably reduces the possibility of thermal products being thrown out.

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Cold storage is constructed by correctly shutting the space and eliminating heat with refrigeration equipment to keep the temperature low. Maintaining pharmaceutical products at low temperatures help maintain the quality of medicines by reducing spoiling. It necessitates infrastructure such as a dock-to-stock procedure, humidity and moisture control systems, verified inventory counts, and disaster contingency plans. Cold storage facilities are set up in a variety of locations. Before distributing products to end consumers, a company establishes a private cold storage facility.

After acquiring temperature-controlled products from suppliers, end-users including resorts use cold warehousing. Cold storage is transferred to a third-party distribution channel (3PL), where products are kept until ready to be sent to end-users. It is critical for a variety of end-use applications, including vaccines, medicines and pharmaceuticals.
As per Growth Market Reports industry analyst Akshata Ahire, “The Global Healthcare Cold Storage Market is anticipated to witness significant growth during forecast period 2021-2028. The global cold storage market is expected to increase due to favorable socioeconomic and demographic variables such as urbanization, population expansion, disposable incomes, and a rise in the standard of life. Pharmaceutical acceptability is increasing, which is fueling the development of the global cold storage industry. Environmental worries about greenhouse gas emissions, a scarcity of qualified workers in developed markets, and a lack of rules and codes are all potential roadblocks to the global cold storage market's overall expansion. Also, the market's expansion is being hampered by a lack of adequate facilities and dependable sources of power in cold storage facilities. The key players are engaged in advertising their healthcare cold storage through social media platforms including Instagram, Facebook, and Twitter.”

The primary as well as secondary research methodology is used for keen observation and study about the healthcare cold storage market. The primary research methodology involves commercial agreements made with the primary respondents as well as consulting partners to extract critical information pertaining to the syndicated as well as consulting projects. Primary interviews conducted with the stakeholders across industry verticals on regular intervals in line with the ongoing studies and to keep ourselves abreast with the latest market trends & developments. Validation of the estimated market size, current and future trends done from the key opinion leaders (KOLs). These KOLs are the CXO level people from leading companies in the industry and possess the experience of around 10-20 years in the industry. On the other hand the secondary research methodology involves Exhaustive desk research undertaken to understand the prevailing market trends & dynamics, market competition, customer insights and other KPIs. Company websites, their SEC filings, annual reports, broker & financial reports and investor presentations are scanned for understanding the competitive scenario, details and developments, and the overall competitive landscape. Regional government and statistical databases analyzed for macro & micro analysis. Research publications and paid data referred to obtain and validate the market estimations, budget, expenditure and other statistical insights.

The Coronavirus disease 2019 (COVID-19) pandemic has highlighted economic disparities in the global demand in the crises of global interdependence and governance challenges. Epidemics are isolated concerns for businesses and prospects for emerging patterns and vulnerabilities. According to the current pandemic situation, strict measures are required for monitoring the situation, which in turn, affect businesses causing unanticipated short and long-term effects. Consequently, epidemics and pandemics are problems for individual market and an enhancement of existing dynamics and limitations. In the long-term, COVID-19 can serve as another opportunity for manufacturers to reconsider their commitment to the supply chain in regions prone to outbreaks and to reconfigure themselves regionally. In current scenario, COVID-19 is hampering the production process of several manufacturing industries and businesses. Moreover, trade barriers are further reducing the demand-supply of various products and services.

Key Takeaways from the Study:

  • The players including Alloga, BioLife Solutions, Cardinal Health, CRS Cold Storage, Glacier Coldrooms UK, Lonza, Modular Coldrooms, Helmer Scientific Inc, and Thermo Fisher Scientific Inc hold a major market share of Global Healthcare Cold Storage Market in year 2020.
  • In terms of temperature, the chilled type segment accounted for substantial share of the market in 2020 and is expected to expand at a substantial CAGR during the forecast period.
  • In terms of storage technique, the Electrical Refrigeration segment held significant share of the market in 2020. The electric refrigeration is expected to expand at a significant pace during the forecast period, due to rising consumer awareness.

Report Scope:

Report Metric

Details

Market Value in 2020

US$ 4,420.4 Million

Market Growth Rate (from 2020 to 2027)

13.1%

Historical Data

2018, & 2019

Base Year

2020

Forecast Period

2021 - 2028

Units Considered

Value (US$ Million)

Market Segments

by Temperature Type, by Storage Technique, by End-user, by Region

Key Companies Profiled

Alloga, BioLife Solutions, Philipp Kirsch GmbH, Cardinal Health, CRS Cold Storage, Glacier Coldrooms UK, Lonza, Helmer Scientific Inc, Roemer Industries, Thermo Fisher Scientific Inc., GATI KAUSAR, and Modular Coldrooms among others.

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience:

  • Supply-side: Manufacturers, raw material providers, suppliers and distributors
  • Demand Side: Academic & Research Institutes, Pharmaceutical & Biotechnology Companies
  • Regulatory Side: Concerned government authorities, and other regulatory bodies.
  • Associations and Industry Bodies: Global Cold Chain Alliance, International Association of Refrigerated Warehouses, World Food Logistics Organization, International Refrigerated Transportation Association, Inc., International Association for Cold Storage Construction.