Increasing demand for temperature sensitive-drugs is driving the market growth.
Market CAGR for healthcare cold chain monitoring is being driven by increasing demand for temperature-sensitive drugs, such as vaccines and products that are dependent on particular temperature ranges for chemical stability. As per the International Institute of Refrigeration (IIR), the market for heat-sensitive health products such as drugs, insulin, vaccines, derived blood products, and oncology products is growing globally every year. Hence, the conveyance of these drugs is the most crucial phase in the cold chain owing to the possibility of unforeseen environmental variations.
Any change in temperature during transportation can impact the medicines, losing their potency to heal the ailments they are meant for, thereby leading to inadequate treatment in numerous cases. To detour the degradation of any pharmaceutical product, it is important to maintain parameters regarding the product-specific environment, including air quality levels and temperature ranges.
Additionally, providing end-to-end visibility and essential monitoring at the packaging stage of the products via the pharmaceutical supply chain operation is of utmost importance. As manufactured drugs contain high-value active ingredients with shorter shelf life and strict temperature requirements, the need for temperature control and monitoring throughout the supply chain has increased. Therefore, temperature-sensitive pharmaceutical products require cold-chain monitoring solutions. Healthcare cold chain monitoring refers to controlling devices equipped with sensors that allow the transportation of temperature-sensitive products at a given temperature range, between 2 and 8°C.
In addition, pharmaceutical manufacturers require efficient cold chain monitoring systems, extended temperature for transportation, and expanded coverage to include over-the-counter drugs. For instance, in April 2019, Active pharmaceutical ingredients (APIs), clinical trials, and other pharmaceutical and life sciences products that offer transport and storage in low temperature-controlled environments are just a few of the products that Controlant has introduced with its PR-T80 Digital Temperature Probe. This cutting-edge real-time solution is designed for dry ice applications, APIs, clinical trials, and other products.
Therefore, the increased focus on quality & product sensitivity in the pharmaceutical sectors is expected to drive the healthcare cold chain monitoring market revenue.
The different warehouse notices various temperature zone. Therefore, constant temperature monitoring is important to control the temperature of the goods stored along with the actual condition of these goods. The best use of warehouses and control over proper equipment can be performed by using automation, including robotic equipment, to find inter-warehouse stock movements and unloading & loading exercises. Warehouse systems help adequate storage space utilization, decrease wear and tear, improve dependability, and reduce operating expenses.
Real-time visibility of shipment area, temperature, humidity, and other climatic factors allows manufacturers and distributors to carry out faster preventative measures, lowering the risk of spoilage or contamination.
The increasing complexity of healthcare supply chains necessitates robust cold chain monitoring solutions to ensure the integrity and safety of temperature-sensitive products throughout their distribution.
U.S. Food and Drug Administration (FDA)
