Recently, the IMARC group published their latest version of the "Global Healthcare Cold Chain Logistics Market Report & Forecast (2012-2017) for suppliers, distributors, pharmaceutical companies, and others involved in the cold chain sector. The abstract states:
"Driven by a strong growth in the sales of temperature sensitive healthcare products, the demand for cold chain logistic services is currently experiencing explosive growth. IMARC Group, one of the world’s leading research and advisory firms, finds that the total size of the healthcare cold chain logistic services market is expected to expand from its current figures of US$ 6.7 billion to nearly US$ 10.7 billion by 2017."
This report is focused specifically on three separate sectors of the cold chain technology and logistics market, with a particular focus on quantifying the current market conditions and an overall snapshot of the current services that are available. The first sector is defined as the quantification of the market for temperature sensitive health products (3 separate classes) and the current and future projections of growth relative to these products.
The second sector is defined as an in-depth explanation and understanding of the cold chain distribution process (relative to healthcare) and the established logistic requirements for a variety of healthcare products. Again, these are geared towards healthcare products and consumables that are sensitive to temperature changes during the cold chain process. The final sector focuses on quantifying the market for these logistic-based services, providing a lens into the future of devices and products that represent the "building blocks" of the cold chain.
This report drives the importance of temperature monitoring devices and other cold chain technologies, and how they can directly affect sensitive healthcare products that are distributed via the cold chain. Human lives can be at stake with many of these healthcare products, and as many of our biopharma and medical customers will attest, an accurate and robust temperature monitoring solution can indeed prevent the spread of tainted vaccines, healthcare products, and other items that can be negatively affected by temperature fluctuation (during transportation). IMARC Group expects the market for efficient storage and transportation services/products to see an increase in size, citing a compound annual growth rate (CAGR) of 4% for the next 4 years. Quoting from their press release, an IMARC analyst also notes:
"The increasing trends in clinical trials outsourcing is creating additional steps in the overall supply chain of clinical trial materials (drugs, blood samples, tissue samples, urine samples, sputum samples, etc). In many cases contract research organizations and their sponsors may be present in two different countries, this is quite evident from the fact that the number of clinical trials in many Asian, Latin American and East European countries are increasing rapidly whereas the sponsors are based in the US and Western Europe. The large distance creates huge requirements for the efficient cold chain packaging, storage and transportation of clinical trial materials between the clinical trial sponsor and the contract research organization.”
The last bit about distance gives a bit of insight into an overwhelming obstacle for cold chain manufacturers and distributors worldwide. Here at Temperature@lert, we've geared our cold chain monitoring products to account for long distances. Our Cellular Edition uses a GSM connection (via T-Mobile for example) to transmit readings on-the-go. The Cellular Edition can be easily outfitted for refrigeration trucks and other means of transportation in the cold chain. Further, our Sensor Cloud allows remote monitoring and alerting via e-mail, SMS, or phone calls. All temperature sensors and units can be viewed, monitored, audited, and adjusted from the Sensor Cloud interface. Reports can then be extracted with the click of a button. With a combination of simple hardware and seamless software, cold chain distributors can then implement temperature sensors for sensitive healthcare products and in turn, continue to safeguard their assets and protect patients/customers. Cold chain technologies are becoming inseperable from the cold chain process, and we're ecstatic about the future of our products in the industry.
For more information on our Cellular Edition product and Sensor Cloud, please contact sales at 866-524-3540.