Cold Chain Products Market worth $711 million | MarketsandMarkets
CHICAGO, May 22, 2023 /PRNewswire/ -- The cold chain products industry is poised for significant growth in the near future, driven by the increasing demand for temperature-controlled storage and transportation of perishable goods. With the growth of global trade and the expansion of the pharmaceutical and food sectors, the need for reliable cold chain solutions has become paramount. Cold chain products such as refrigerated containers, cold storage warehouses, temperature monitoring devices, and packaging materials play a crucial role in maintaining the integrity and quality of temperature-sensitive products throughout the supply chain. The industry is witnessing advancements in insulation materials, refrigeration technologies, and data monitoring systems to ensure precise temperature control and real-time visibility of product conditions. Additionally, the increasing focus on sustainability and energy efficiency is driving the development of eco-friendly cold chain solutions. As the demand for cold chain products continues to rise, the industry is expected to experience innovation, collaboration, and investment to meet the evolving requirements of various sectors, ensuring the safe and efficient transportation and storage of temperature-sensitive products.
Cold Chain Products Market in terms of revenue was estimated to be worth $569 million in 2022 and is poised to reach $711 million by 2027, growing at a CAGR of 4.5% from 2022 to 2027 according to a new report by MarketsandMarkets™. Factors such as the rising zoonotic disease concerns, Rising use of immunoglobulins and other plasma products in a range of therapeutic areas and Increasing demand for Plasma-derived medicinal products driving the growth of the Cold Chain Products Market for Plasma Fractionation. However, shortage of trained manpower & limited resources to maintain the equipment and Environmental concerns regarding greenhouse gas emissions will be challenges in the growth of this market during the forecast period.
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Cold Chain Products Market Scope:
Market Revenue in 2022
Estimated Value by 2027
Poised to grow at a CAGR of 4.5%
Market Size Available for
Value (USD Million)
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
By Technology, By Panel size, By Resolution, By color, By Applications, and By Region
Updated financial information / product portfolio of players
Key Market Opportunities
Increasing investments from government bodies and private players in healthcare sectors in emerging economies
Key Market Drivers
Growing adoption of hybrid operating rooms
In this report, the Cold Chain Products Market for Plasma Fractionation is segmented based on type, end user, and region.
"Temperature monitoring devices segment is expected to witness the fastest growth in the forecast period."
The Cold Chain Products for Plasma Fractionation market is categorized into seven types, including Ultra-low temperature freezers, Plasma freezers, Temperature monitoring devices, Plasma contact shock freezers, Blood transport boxes, Ice-lined refrigerators, and Others. Among these categories, the Temperature monitoring devices segment is projected to experience the highest growth rate from 2022 to 2027. Increased research and development investment in medical devices such as medical freezers and refrigerators are additional factors that are anticipated to drive market growth during the forecasted period
"Blood collection centers and blood component providers accounted for the largest share of the Cold Chain Products Market for Plasma Fractionation in 2021."
The Cold Chain Products Market for Plasma Fractionation is categorized into different end users, including Blood collection centers and blood component providers, Hospitals and transfusion centers, Clinical research laboratories, and Others. Among these, the Blood collection centers, and blood component providers segment held the fastest-growing market for cold chain products for plasma fractionation in 2021. This significant market share can be attributed to factors such as the increasing prevalence of diseases like hemophilia, immune deficiency disorders, and liver diseases, as well as the growing aging population.
"North America accounted for the largest share of the Cold Chain Products Market for Plasma Fractionation in 2021"
The Cold Chain Products Market for Plasma Fractionation is segmented into five geographical regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2021, North America emerged as the dominant market for Cold Chain Products for Plasma Fractionation worldwide. The increasing demand for plasma freezers and the availability of advanced cold storage devices for laboratories are expected to be major driving factors for market growth in North America. The region's substantial market share can be attributed to its well-developed healthcare infrastructure and the continuous investment in research and development of medical devices such as medical freezers and refrigerators.
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Cold Chain Products Market Dynamics:
- Growing adoption of hybrid operating rooms
- Increasing adoption of refurbished medical displays
- Increasing investments from government bodies and private players in healthcare sectors in emerging economies
- Adoption of consumer-grade displays
Key Market Players:
The prominent players in the global Cold Chain Products Market for Plasma Fractionation are B Medical Systems (US), Blue Star Limited (India), Thermo Fisher Scientific (US), Godrej and Boyce Manufacturing Co. Ltd. (India), Haier Biomedical (China), Eppendorf SE (Germany), Avantor, Inc. (US), Biolife Solutions Inc. (US), and Helmer Scientific Inc. (US).
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- In April 2023, LG electronics launched 32HQ713D-B, which has latest high-resolution 8MP diagnostic medical monitor. It combines 1000 nits of brightness with LG's proprietary IPS Black panel to deliver an enhanced 2,000:1 contrast ratio with deep blacks, while greatly simplifying color calibration through an automatic integrated sensor and software.
- In February 2023, Eizo launched a 21.3-inch 2-megapixel (1200 x 1600 pixels) color monitor for displaying patient charts and reviewing diagnostic imaging in hospital and clinic environments.
- In November 2022, Barco launched two displays. Io Gray 5.8 MP for the breast imaging and MDSC-8532 and MDSC-8527 4K UHD for surgical display.
- In July 2022, Eizo launched launched four new monitors ranging from 32 to 55 inches with 4K UHD resolution (3840 x 2160 pixels) for use in endoscopy, microsurgery, and other high-precision procedures in the operating room (OR).
Cold Chain Products Market Advantages:
- Product Integrity: Cold chain products play a critical role in maintaining the integrity and quality of temperature-sensitive goods such as pharmaceuticals, vaccines, biologics, perishable foods, and chemicals. These products ensure that items are kept at the required temperature range throughout transportation and storage, preventing spoilage, degradation, or loss of efficacy. This ensures that consumers receive products that meet quality standards and that healthcare providers can rely on the effectiveness of medications and vaccines.
- Extended Shelf Life: Cold chain products enable the extension of shelf life for perishable goods. By maintaining the required temperature conditions, the growth of microorganisms is inhibited, preserving the freshness and quality of food items for an extended period. This allows for efficient distribution and wider market reach, reducing food waste and increasing profitability for food manufacturers and retailers.
- Global Trade Facilitation: The cold chain infrastructure and products facilitate global trade by enabling the safe and efficient transportation of temperature-sensitive products across long distances and international borders. This opens up opportunities for companies to expand their markets and meet the demand for their products worldwide. Cold chain products also support the growth of export-oriented industries, such as pharmaceutical manufacturing and agricultural production, by ensuring compliance with regulatory requirements and quality standards in different regions.
- Health and Safety Assurance: Cold chain products contribute to the health and safety of consumers by ensuring that perishable items, especially vaccines and medications, are stored and transported under appropriate temperature conditions. This helps to maintain the efficacy of vaccines and drugs, reducing the risk of contamination or compromised effectiveness. In the food industry, cold chain products help prevent the growth of harmful bacteria and ensure that food products are safe for consumption.
- Regulatory Compliance: Many industries, including healthcare, pharmaceuticals, and food, have strict regulatory requirements regarding temperature control and product handling. Cold chain products provide the necessary infrastructure, equipment, and monitoring systems to comply with these regulations. This helps businesses to avoid penalties, maintain their reputation, and build trust with customers and regulatory authorities.
Overall, the cold chain products market offers significant advantages in terms of product integrity, extended shelf life, global trade facilitation, health and safety assurance, and regulatory compliance. These advantages contribute to the growth and importance of the industry in various sectors, ensuring the safe and efficient handling of temperature-sensitive products throughout the supply chain.
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