“Temperature Controlled Pharmaceutical Packaging Solutions (TCPPS) Market: Global Industry Analysis and Opportunity Assessment, 2016-2026”, FMI’s latest report estimates the global temperature controlled pharmaceutical packaging solutions market to increase at 9.3% CAGR through 2026. The report estimates the market to rake in US$ 2.77 Bn in revenues by the end of 2016.
Focus on preventing temperature excursion and delivering drugs in a timely manner without any degradation in quality are the biggest challenges for pharmaceutical industry currently. Temperature-controlled packaging’s effectiveness in addressing these challenges is driving adoption across end-use industries. Reusable packaging and technology advancements that enable access to real-time temperature data are the key trends expected to shape the market in the future.
Region-wise, North America, Western Europe, and Asia Pacific excluding Japan (APEJ) are the three largest markets for TCPPS globally. The APEJ TCPPS market is expected to expand at a higher than average CAGR owing to increased use of temperature-controlled packaging solutions for pharmaceuticals in biologics and in treatment of rare diseases in the region.
The Latin America TCPPS market is anticipated to account for 4.7% revenue share of the overall global market by 2026. The market in the region is expected to be driven by rapid investment in the pharmaceuticals sector in the region.
The TCPPS market in Eastern Europe is estimated to witness an average increase in revenue due to lower GDP growth in the region.
Key companies profiled in the report include Sonoco Products Company, Pelican Biothermal, Cryopak, Sofrigam SA Ltd., Envirotainer Ltd., and American Aerogel Corporation.