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Pharmaceutical packaging is extremely regulated along with few variations in the details, depending upon the country of origin. Moreover, few of the applications of temperature controlled packaging includes vaccines, clinical trials, biological products and samples, balanced temperature and medical products with detailed timeline provisions. Furthermore, temperature controlled pharmaceutical packaging helps in increasing the shelf life of product, assurance of patient safety, provides prevention from microbial contamination, sterility and also controls the degradation of the drug by moisture, heat, oxygen and others. Communication of cautionary labels and proper use are also regulated in this type of packaging. In addition, temperature controlled pharmaceutical packaging is an imperative tool in reducing the hazard and maintains the quality of the product during the process of supply chain by steadying internal temperature.
Temperature controlled packaging is an important part of the pharmaceutical supply chain. It consists of various components which all are designed to maintain the temperature in such a way that vaccines do not get damaged. There are various factors which impacts products such as duration and temperature, heat transfer by conduction and convection, varying external temperature, changing conditioning requirement, ice packs and others to overcome all this factors temperature controlled packaging is used in pharmaceutical and which also result in driving the market demand. Moreover, increasing stakeholders focus to utilize reusable packaging containers is further expected to boost the market demand. Increasing regulatory pressure and necessity to reduce the transportation costs, stakeholders are giving more focus on adopting reusable packaging method as it also helps in reducing the usage of insulation and refrigerants products which are related with global warming and ozone depletion.
Continuous innovation in temperature controlled pharmaceutical packaging has increased sustainability and performance of the product. To improve sustainability, OptumRx which is pharmacy care service provider has shifted from recycled foam packaging to recyclable packaging made which is made from renewable cotton as it is biodegradable, reusable, compostable and recyclable. Moreover, raising packaging companies in the field of pharmaceutical are incorporating innovative features and designs and using more advanced technologies to manufacture and manage good products with more sophisticated systems. However, lack of awareness amongst people regarding the importance of temperature controlled pharmaceutical packaging is restricting the growth of the market. Moreover, before packaging necessity precaution need to be taken such as cleaning and drying of containers. Thus, lack of awareness and its high cost restrict the market growth.
Moreover, temperature sensitive pharmaceutical products are exponentially shipped across the globe and also to remote areas which has encouraged the stakeholders to use temperature control packaging in pharmaceutical industry. Moreover, pharmaceutical companies are rapidly using advanced asset management software system which ensures pharmaceuticals products are shipped to the right location with no damages and at the right time which further result in boosting the temperature controlled pharmaceutical packaging market. Furthermore, initiation of novel high-performance which are specifically organized for warehousing and supply of pharmaceutical products is further projected to drive the temperature controlled pharmaceutical packaging market growth. Moreover, raising practice of vacuum panel insulation together with the phase change material further boost the life of warehoused pharmaceutical product. Subsequently, the raising adoption of such growing technologies in the pharmaceutical sector is anticipated to subsidize the growth of the market globally.
Moreover, the industry is also seeing a great trend to deploy asset management SaaS (software as a service) along with reusable systems and reaping the related benefits. These systems are capable of collecting and analyzing the data from company data logger outputs. There are range of SaaS products which are operate by companies to analyze brand-agnostic sensor data, as it is connected to various smart packaging options and also allows packaging vendors to track a large number of data including light, humidity, vibration, temperature and more. Thus, introduction of SaaS in pharmaceutical packaging is boosting the growth of the market.
TEMPERATURE CONTROLLED PHARMACEUTICAL PACKAGING SEGMENTATION:
By Temperature Range:
By End-Use Industry:
Europe is the growing market for temperature controlled pharmaceutical packaging for pharmaceutical products. In addition, the region has been a frontrunner in the department of development and innovation of temperature controlled packaging. Moreover, Germany is the biggest contributor to the European market where giant companies such as Deutsche Post AG (DHL), Bayer, and BASF have their presence.
North America is one of the prime market for temperature-controlled packaging. High pressure pharmaceutical product safety policies in the region particularly in countries such as U.S. and Canada along with rapid growing pharmaceutical is responsible for boosting the growth of the temperature controlled pharmaceutical packaging market in this region. Moreover, significant amount of rise in innovation and R&D investment with the industry is further driving the growth market.
FEW KEY PLAYERS IN TEMPERATURE CONTROLLED PHARMACEUTICAL PACKAGING MARKET:
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