The strict regulatory environment in the pharmaceutical industry is boosting the cold chain monitoring market. The major factor driving the market of cold chain monitoring is effective management of the pharmaceutical products and increase in food and pharmaceutical industry. As the demand for frozen products are increasing, companies are deploying cold chain monitoring system in their process in order to make the supply chain more efficient. According to a recent study report published by the Market Research Future, The global market of cold chain monitoring is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2016 – 2022).
The key factors responsible for the increase in the cold chain monitoring market is the focus on quality and product sensitivity, growth in organized retail, increase in refrigerated warehouses, government changing policies and regulations, and growth in pharmaceutical sector. However, the factor such as lack of standardization and high operational cost slow down the growth of cold chain monitoring market.
Market is expected to show a double digit growth rate in coming five years (2016-2022). The growth is majorly driven by need of effective monitoring activities in the pharmaceutical and healthcare sectors that reduces wastage by prolonging shelf live.
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Major Key Players
Sensitech, Inc. (U.S.)
Infratab Inc. (U.S.)
Monnit Corporation (U.S.)
Zest Labs, Inc. (U.S.)
Sensitech Inc. (U.S.)
NEC Corp. (Japan)
Controlant EHF (Iceland)
NXP Semiconductors N.V. (Netherlands)
Berlinger & Co. AG (Switzerland)
25 July 17 – Semtech Corporation a prominent player in Cold Chain Monitoring Market, has designed TS51223 a fully-integrated cold chain monitoring for low-power, wearable applications that require a low-cost and space-saving solution. The TS51223 can operate by itself as a single-chip cold chain monitoring in proprietary applications.
19 January 17 – Berlinger & Co. AG a prominent player in cold chain monitoring market has published a white paper that addresses the problems associated with the monitoring of drugs during ‘Last Mile’ transportation.
Aug 08, 2017- KORE partner to provide uninterrupted real-time cold chain management. announced an expanded partnership with Cooltrax, the leader for real-time cold chain management of fixed, mobile, and product-level assets. KORE’s reliable, seamless network coupled with Cooltrax’s cold chain management solutions help provide real-time information for cold chain fleets, as well as fixed assets, allowing for less food waste and increased food safety.
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North America is dominating the global cold chain monitoring market with the largest market share and therefore accounting for astronomical amounts and is expected to grow over its previous growth records by 2022. High standard of living and high consumption of meat products is driving the market in the North America. Cold Chain Monitoring Market in Asia Pacific market is expected to witness a fastest growing CAGR during forecast period, due to the growing chemical industry. China stands as one of the biggest market of chemicals and pharmaceutical which is giving Asia Pacific a competitive advantage over other regions. The increasing demand for quality regulation the food industry to incorporate is boosting the cold chain monitoring solutions in its supply chain is one of the significant factor strengthening the growth of cold chain monitoring market in the European region.
- Logistics Company
- Pharmaceutical Distributors
- Food processing units
- Government organizations
- Sensor Manufacturers & Distributors
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