The cold chain monitoring industry is expected to grow in response to increased pharmaceutical demand, particularly in emerging markets. Some medical commodities are extremely temperature sensitive, necessitating the use of sophisticated temperature monitoring technologies to keep them at the appropriate temperature throughout the supply chain. Temperature monitoring technology can help prevent product damage by keeping the temperature steady during shipment. Modern cold chain monitoring systems track and manage products throughout their transit and storage cycles. They can monitor temperature-sensitive products including packaged foods, frozen dinners, and other delicacies in real time.
Cold Chain Monitoring Market Scope and Research Methodology:
The report’s goal is to analyse and forecast the Cold Chain Monitoring market size. In order to correctly depict the competition scenario for the worldwide Cold Chain Monitoring industry, the market research provides strategic profiling of important market participants. It contains a thorough examination of new product launches, acquisitions, mergers and acquisitions, joint ventures, brands, and important players in the Cold Chain Monitoring business. The research contains information on industry trends and developments, market dynamics and their potential, assisting specialists in staying current on the most recent trends and sector performance, estimating growth and fall in Cold Chain Monitoring market share during the forecast period. Primary and secondary research approaches were used to have a thorough understanding of the Cold Chain Monitoring industry. The report’s goal is to analyse and forecast the Cold Chain Monitoring market size. In order to correctly depict the competition scenario for the worldwide Cold Chain Monitoring industry, the market research provides strategic profiling of important market participants. It contains a thorough examination of new product launches, acquisitions, mergers and acquisitions, joint ventures, brands, and important players in the Cold Chain Monitoring business. The research contains information on industry trends and developments, market dynamics and their potential, assisting specialists in staying current on the most recent trends and sector performance, estimating growth and fall in Cold Chain Monitoring market share during the forecast period. Primary and secondary research approaches were used to have a thorough understanding of the Cold Chain Monitoring industry.
Cold Chain Monitoring Market Report Overview:
The research comprehensively covers insight analysis in light of the Cold Chain Monitoring Market, as well as its ever-changing patterns, industry environment, and all leading market elements. The Cold Chain Monitoring Market study also includes a complete analysis of leading players.
Cold Chain Monitoring Market size was valued at US$ 6.25 Billion in 2022 and the total Cold Chain Monitoring revenue is expected to grow at 15.7% through 2023 to 2029, reaching nearly US$ 17.35 Billion.
Cold Chain Monitoring Market Dynamics:
The entire need for thermally sensitive healthcare commodities such as medicines, antibiotics, epinephrine, extracted blood products, and cancer therapies grows each year. As a result, the transit of these pharmaceuticals is the most critical phase in the cold chain because to the danger of unanticipated external perturbations. Any change in weather during transportation could lead pharmaceuticals to lose their ability to heal the conditions for which they were prescribed, resulting in ineffective therapy in many cases. Maintaining product-specific environmental parameters, such as ambient air quality and temperature settings, is crucial to preventing the deterioration of any pharmaceutical product.
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Cold Chain Monitoring Market Segmentation:
In terms of logistics, the storage segment will dominate the market in 2020. Because of the rising preference for packaged food around the world, it is predicted to be the dominating segment again at the end of the aforementioned prediction period. Food and medications in packaging must be kept at the same temperature at all times. A variety of sensors and control systems are used to monitor the temperature of packaged food and medications. The storage category is predicted to develop at a high CAGR of 8.3% during the forecast period, owing to the rising need for remote monitoring of cold storage.
The transport category is expected to grow the fastest during the projection period. The rise can be attributed to an increase in the sale of food, beverages, and drugs. The rising necessity for constant monitoring of assets transported in refrigerated trucks may also be attributed to the segment’s growth. Remote temperature monitoring systems can help keep temperature-sensitive objects from rotting and causing economic losses. Remote temperature monitoring systems can also help to prevent human health issues caused by the consumption of food and drugs that have not been kept at the right temperature. As a result, remote monitoring systems can be critical for maintaining product quality and assuring the safety of goods transit.
Cold Chain Monitoring Market Key Players:
Lineage Logistics Holdings, LLC (US)
Klinge Corporation (US)
Daikin Industries, Ltd. (Japan)
Interstate Warehousing, Inc. (US)
Partner Logistics (India)
Maven Systems Pvt. Ltd. (India)
Americold Logistics, Llc (US)
Berlinger & CO. AG (Switzerland)
Controlant EHF (Iceland)
Elpro-Buchs AG (Switzerland)
Infratab, Inc (US)
Monnit Corporation (US)
Orbcomm Inc. (US)
Savi Technology, Inc. (US)
Cold Chain Monitoring Market Regional Analysis:
The report is divided into several key countries, with market size, growth rate, import and export of Cold Chain Monitoring market in these countries, which cover North America, the United States, Canada, Mexico, Europe, the United Kingdom, Germany, France, Spain, Italy, Rest of Europe, Asia Pacific, China, India, Japan, Australia, South Korea, ASEAN Countries, Rest of APAC, South America, Brazil, and the Middle East and Africa.
Key Questions answered in the Cold Chain Monitoring Market Report are:
- Which segment grabbed the largest share in the Cold Chain Monitoring market?
- Which segment is expected to grow at a high rate during the forecast period?
- How is the competitive scenario of the Cold Chain Monitoring market?
- Which are the key factors driving the Cold Chain Monitoring market growth?
- Which region holds the maximum share in the Cold Chain Monitoring market?
- What will be the CAGR of the Cold Chain Monitoring market during the forecast period?
- Which are the prominent players in the Cold Chain Monitoring market?
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About Stellar Market Research
Established in 2018, Stellar Market Research is India Based consulting and advisory firm focused on helping clients to reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.
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