Cold Chain Products Market
It is estimated that the global cold chain market will grow to over US$278.2 billion in 2023 and reach over US$428.4 billion by the end of 2030, with GR 9.0 growth between 2023 and 2030. The globalisation of trade has boosted cross-border goods transit. This necessitates the use of cold chain logistics to ensure that temperature-sensitive commodities, regardless of distance or time, are kept at the right temperature during delivery and storage. The pandemic has highlighted the importance of the cold chain industry, notably in the distribution of vaccines and other medical supplies. As a result, the market is expected to grow even further in the coming years, thanks to significant investments in technology and infrastructure targeted at boosting cold chain logistics and assuring safe and efficient delivery of temperature-sensitive commodities.
Driver: Immunoglobulins and other plasma products are increasingly being used in a variety of therapeutic areas.
Immunoglobulins (also spelt immunoglobulins, gamma globulins, or IgG) are required for the treatment of primary immunodeficiency and associated illnesses. Polyvalent immunoglobulins derived from many donors are essential for treating immunological diseases such as primary and secondary immunodeficiencies. In addition, large dosages of immunoglobulins have been shown to have immunomodulatory effects in neurological, haematological, and dermatological immunological diseases. Hyperimmune immunoglobulins are used in the treatment or prevention of infections such as tetanus, measles, and rabies, as well as to protect neonates against hemolytic disorders.
The clinical use of immunoglobulins, which has been steadily increasing and is projected to continue, is the primary driver of demand for plasma fractionation. Because of increased demand for plasma medicines, notably immunoglobulins, high-income nations may experience an increase in production of other therapeutic proteins like albumin. The need for cold chain items in the plasma fractionation market is predicted to expand due to the rising use of immunoglobulins and other plasma products, which require storage equipment throughout the manufacturing and application process.
Opportunity: Demand for Plasma Fractionation Centre
Due to the increasing incidence of diseases such as hemophilia, immunodeficiency disorders, and alpha-I antitrypsin deficiency, the need for plasma-derived products is increasing by approximately 7% per year globally . Due to the high frequency of these disorders, the United States, European Union, and China have the greatest demand for these products. There is also a need for plasma fractionation centers in other regions, such as Africa and India. India's large population and high disease prevalence rate contribute to the need for products made from plasma, but due to its low plasma collection rates, it has to import these products. As in other regions, Africa has a limited supply of these items due to low plasma collection rates, which are often hampered by resource and infrastructure issues.
Challenge: Shortage of competent personnel and inadequate resources for equipment maintenance
Plasma freezers and refrigerators are required for temperature-sensitive plasma-based therapies. The specified storage temperature must be kept constant to ensure the quality and efficacy of these medicines, which have a limited shelf life. The scarcity of skilled staff and the limited resources available to maintain this vital storage infrastructure is a growing concern, particularly in developing countries. Inadequate infrastructure and undertrained healthcare professionals enhance the risk of waste and impaired patient care. The increased need for convalescent plasma during the COVID-19 pandemic has highlighted these challenges. Healthcare institutions must focus cold chain management, invest in infrastructure, and provide the required training to ensure the proper storage and availability of plasma-based therapies while limiting waste.
Ecosystem of Cold Chain Products for Plasma Fractionation
The market's ecosystem is made up of the elements that are present there, and it lists each element along with the organisations that are participating. Businesses engaged in research, product development, optimisation, and launch of such items are among the producers of various cold chain products. End users are the places where cold chain items are utilised, whilst distributors include third parties and e-commerce sites connected to the company for selling these products.
Temperature monitoring devices are predicted to expand at the quickest rate in the Cold Chain Products Market for Plasma Fractionation during the forecast period.
The market is divided into seven categories: ultra-low temperature freezers, plasma freezers, temperature monitoring instruments, plasma contact shock freezers, blood transport boxes, ice-lined refrigerators, and others. The market for temperature monitoring devices is expected to grow at the fastest rate between 2023 and 2030. Increased R&D investment on medical devices such as medical freezers and refrigerators is also expected to help market expansion over the forecast period.
The greatest share of the Cold Chain Products Market for Plasma Fractionation was held by blood collection centres and blood component providers.
The market is divided into four segments based on end users: blood collection facilities and blood component suppliers, hospitals and transfusion facilities, clinical research laboratories, and others. In the competition for the fastest-growing market for cold chain items for plasma fractionation in 2021, blood collection facilities and blood component providers maintained their lead. Increased occurrences of immune system illnesses, liver diseases, and immune deficiency disorders, as well as an ageing population, all contribute to this market's substantial component.
The Cold Chain Products Market for Plasma Fractionation was dominated by North America.
The market is divided into five geographical regions: North America, Europe, Asia Pacific, Latin America, and the Middle East. Africa. North America dominated the market for plasma fractionation cold chain products. Modern laboratory refrigerator availability, as well as growing demand for plasma freezers, are projected to have a substantial influence on market growth in North America.
The significant market share of North America is attributed to a strong healthcare infrastructure and increasing R&D expenditure in medical devices such as medical freezers and refrigerators.
Key players in the 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)
The research report categorizes Cold Chain Products Market for Plasma Fractionation to forecast revenue and analyze trends in each of the following submarkets:
By Type
- Ultra-low temperature freezer
- Plasma freezer
- Temperature monitoring devices
- Plasma contact shock freezer
- Blood transport boxes
- Ice-lined refrigerator
- Others
By End User
- Blood collection centers and blood component providers
- Hospitals and transfusion centers
- Clinical research laboratories
- Others
By Country
- North America
- US
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Australia
- Japan
- India
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East and Africa
- Turkey
- Rest of MEA
Recent Developments
- In January 2023, Haier Biomedical (China) acquired Suzhou Kangsheng (China) in order to incorporate disposable laboratory plastic consumables into its business portfolio and expand smart laboratory application solution scenarios, as well as rapidly expanding its presence in cryopreserving, cell culture, and microbial applications.
- In March 2023, Blue Star introduced a new line of deep freezers with increased storage and chilling capacity, produced at its new world-class manufacturing site in Wada.
- The WHO PQS prequalification was granted to B Medical's Ultra-Low Freezer U201 in March 2022. This is the world's first Ultra-Low Freezer to gain WHO PQS prequalification.