Asia Pacific Reefer Container for Pharmaceutical Market Forecast to 2028

Asia Pacific Reefer Container for Pharmaceutical Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Application Type (Pharmaceutical Preparations, Injectables, Blood Derivatives, Vaccine & Serum, and Others) and Container Size (Small, Medium, and Large)

Report Code : BMIRE00027662 | Region : Asia Pacific | Industry : Automotive and Transportation | Published Date : 19/Dec/2022

The reefer container for pharmaceutical market in Asia Pacific is expected to grow from US$ 1,168.27 million in 2022 to US$ 2,773.10 million by 2028. It is estimated to grow at a CAGR of 15.5% from 2022 to 2028.

Rising Preference for Maritime Trade over Airborne Trade

The growing focus in using advanced technology in supply chain within the pharmaceutical industry is evolving with finding new ways to ensure it delivers medical products safely to their intended destination. The development of cold chain for the pharmaceutical industry is focused on control tower technology packaging automation, artificial intelligence, and other technologies. In recent years, ongoing advances in the development and dissemination of temperature-sensitive pharmaceutical products — ranging from the biologic therapies to treat rare and chronic diseases, COVID-19 vaccine and vaccines for other infectious diseases, novel oncology treatments and cell and gene (CGT) therapies, have created more complex cold-chain requirements than ever before. As per the latest estimates, in August 2022, India’s cold storage capacity is likely to reach 40.7 million metric tons by 2023, rising 8.2% from 2020, which creates potential opportunities in Indian cold chain assets which helps drive the market growth. Also, as per public stats, the cold chain sector is expected to grow at more than 20% CAGR by 2025 which is attributed to enable the shift from conventional cold storage to modern storage spaces. In August 2022, AP Maersk Company had announced a new cold storage facility planned for Ridgeville, South Carolina to serve temperature-controlled goods, which is expected to get in operation from first quarter of 2023. China has huge consumer demand for pharmaceutical products for various chronic diseases which is emerging the need for advanced cold chain sector. The Chinese government at all levels are augmenting the investments in cold chain infrastructure, facilitating enlargement of cold chain logistics. For instance, in June 2022, as per the National Development and Reform Commission, China had allocated US$207.35 million to support cold chain and national logistics hub construction. Also, in December 2021, the National Development and Reform Commission China had planned to set up about 100 national backbone cold-chain logistics bases during the 14th Five-Year Plan period (2021-2025). Thus, such increasing investment in cold chain sector coupled with ongoing adoption and upcoming advancements in cold chain technology is holding potential opportunity accelerating the market dynamics which is likely to drive the market outlook over the forecast period.

Market Overview

China, India, South Korea, Japan, and Australia are among the key economies in APAC. The APAC reefer container for pharmaceutical market is expected to grow during the forecast period. The busiest ports in the world are Shanghai, Singapore, Hong Kong, Tianjin, Qingdao, Guangzhou, Busan, Ningbo-Zhoushan, and Shenzhen; they are all located in APAC. Strong sea trade from APAC countries such as China, Japan, India, South Korea, and others mainly contributed to its leading position in the market. In addition, large export volumes, intra-regional trading activities, and expanding manufacturing activities, especially in these countries, are expected to support the market growth. In April 2019, a new land-sea freight route was implemented, connecting southwest China's Chongqing Municipality with Indonesia. Cargo overturns at Asia's major hub ports surged through December 2020 as rising container demand from the US and Asia Pacific overwhelmed terminals and carrier capacity, despite deploying all available vessels and extra loaders on both trades. The changing outlook for the logistics industry, the need for significant cost optimization, and optimal inventory management are expected to support the growth of the Asia-Pacific reefer container for pharmaceutical market. However, the demand from domestic market-oriented companies (Daikin Reefer, Fortune Container Trading, among others) is growing. In addition, the number of cold stores is increasing due to the sharp increase in demand for pharmaceutical products in the Asia-Pacific region. Therefore, an increase in cold storage is expected to fuel the growth of the Asia-Pacific reefer container for pharmaceutical market.

Asia Pacific Reefer Container for Pharmaceutical Market Revenue and Forecast to 2028 (US$ Million)

Asia Pacific Reefer Container for Pharmaceutical Market Segmentation

The Asia Pacific reefer container for pharmaceutical market is segmented into by application type, container size, and country.

Based on application, the market is segmented into pharmaceutical preparations ,injectables blood derivatives, vaccine & serum and others. The pharmaceutical preparations segment held the largest market share in 2022.

Based on container size, the market is segmented into small, medium, and large. The small segment held the largest market share in 2022.

Based on country, the market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the market share in 2022.

BSL REFRIGERATED CONTAINERS; CMA CGM Group; Klinge Corporation; DAIKIN INDUSTRIES, Ltd.; Maersk Container Industry AS; Evergreen Marine Corp. (Taiwan) Ltd.; Seaco; and COSCO Shipping are the leading companies operating in the reefer container for pharmaceutical market in the region.

At 15.5% CAGR, the Asia Pacific Reefer Container for Pharmaceutical Market is speculated to be worth US$ 2,773.10 million by 2028, says The Insight Partners

According to The Insight Partners’ research, the Asia Pacific reefer container for pharmaceutical market was valued at US$ 1,168.27 million in 2022 and is expected to reach US$ 2,773.10 million by 2028, registering a CAGR of 15.5% from 2022 to 2028. Rising preference for maritime trade over airborne trade and increasing demand for pharmaceutical products are the critical factors attributed to the market expansion.

The maritime transport is used to transport for large volumes in a single container ship which can handle 20,000 twenty-foot equivalent units. It is one of the greenest and most environmentally safe way to move cargo. The ocean cargo involves linear shipping, it is the most economical way of transporting goods Asia Pacific. Thus, maritime transportation being a cost-efficient solution is preferred at a wide scale over airborne trade. The growth prospects in maritime trading activities owing to rise in demand for pharmaceutical products drives the market outlook over the forecast period. All major trading economies had witnessed an imports and exports rise above pre-pandemic levels in the fourth quarter of 2021, with trading activities in increasing more strongly in the developing countries than in developed economy. Thus, increasing seaborne trading activities helped businesses to get recovered in 2021 upon relaxation of national lockdowns, availability of vaccines and other measures to contain the spread of the virus began in many countries. Thus, such growth prospects in adopting the maritime transportation are anticipated to drive the demand for reefer container market over the forecast period.

On the contrary, operational and financial challenges associated with reefer containers hampers Asia Pacific reefer container for pharmaceutical market.

Based on application type, the market is segmented into pharmaceutical preparations, injectables blood derivatives, vaccine & serum, and others. The pharmaceutical preparations segment held 35.19% market share in 2022, amassing US$ 411.15 million. It is projected to garner US$ 1186.11 million by 2028 to expand at 15.9% CAGR during 2022–2028.

Based on container size, the market is segmented into small, medium, and large. The small segment held 61.08% market share in 2022, amassing US$ 713.63 million. It is projected to garner US$ 1,733.70 million by 2028 to expand at 15.9% CAGR during 2022–2028.

Based on country, the Asia Pacific reefer container for pharmaceutical market has been categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 38.00% market share in 2022. It was assessed at US$ 443.94 million in 2022 and is likely to hit US$ 1,241.52 million by 2028, exhibiting a CAGR of 18.7% during the forecast period.

Key players dominating the Asia Pacific reefer container for pharmaceutical market are BSL REFRIGERATEDCONTAINERS; CMA CGM Group; Klinge Corporation; DAIKIN INDUSTRIES, Ltd.; Maersk Container Industry AS; Evergreen Marine Corp. (Taiwan) Ltd.; Seaco; and COSCO Shipping.

In 2017; Klinge Corporation has launched their new website to better showcase their freezer and refrigeration containers. The website is used as a platform to provide industry specific solutions to the customers. In 2022; Ember Technologies and Cardinal Health partnered for providing self-refrigerated, cloud-based shipping box named Ember Cube. Both the companies are collaborating for delivering cold chain solution to facilitate the temperature-sensitive medicines transportation.

TABLE OF CONTENTS

1. Introduction

1.1 Study Scope

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

1.3.1 Asia Pacific Reefer Container for Pharmaceutical Market – By Application Type

1.3.2 Asia Pacific Reefer Container for Pharmaceutical Market – By Container Size

1.3.3 Asia Pacific Reefer Container for Pharmaceutical Market – By Country

2. Key Takeaways

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. Asia Pacific Reefer Container for Pharmaceutical Market Landscape

4.1 Market Overview

4.2 PEST Analysis

4.2.1 APAC

4.3 Ecosystem Analysis

4.4 Expert Opinion

5. Asia Pacific Reefer Container for Pharmaceutical Market - Key Market Dynamics

5.1 Market Drivers

5.1.1 Rising Preference for Maritime Trade over Airborne Trade

5.1.2 Increasing Demand for Pharmaceutical Products Drives the Market Growth

5.2 Key Market Restraints

5.2.1 Operational and Financial Challenges Associated with Reefer Containers may hamper the growth of the market

5.3 Key Market Opportunities

5.3.1 Developments in cold chain sector present lucrative opportunities holds potential opportunity for growth of the market

5.4 Trends

5.4.1 Smart reefer containers gain demand

5.5 Impact analysis of Drivers and Restraints

6. Reefer Container for Pharmaceutical Market – Asia Pacific Market Analysis

6.1 Reefer Container for Pharmaceutical Market Asia Pacific Overview

6.2 Asia Pacific Reefer Container for Pharmaceutical Market Forecast and Analysis

7. Asia Pacific Reefer Container for Pharmaceutical Market Revenue and Forecast to 2028 – Application Type

7.1 Overview

7.2 Asia Pacific Reefer Container for Pharmaceutical Market, By Application Type (2021 And 2028)

7.3 Pharmaceutical Preparations

7.3.1 Overview

7.3.2 Asia Pacific Pharmaceutical Preparations: Reefer Container for Pharmaceutical Market Revenue and Forecast To 2028 (US$ Million)

7.4 Injectables

7.4.1 Overview

7.4.2 Asia Pacific Injectables: Reefer Container for Pharmaceutical Market Revenue and Forecast To 2028 (US$ Million)

7.5 Blood Derivatives

7.5.1 Overview

7.5.2 Asia Pacific Blood Derivatives: Reefer Container for Pharmaceutical Market Revenue and Forecast To 2028 (US$ Million)

7.6 Vaccine and Serum

7.6.1 Overview

7.6.2 Asia Pacific Vaccine and Serum: Reefer Container for Pharmaceutical Market Revenue and Forecast To 2028 (US$ Million)

7.7 Others

7.7.1 Overview

7.7.2 Asia Pacific Others: Reefer Container for Pharmaceutical Market Revenue and Forecast To 2028 (US$ Million)

8. Asia Pacific Reefer Container for Pharmaceutical Market Analysis – By Container Size

8.1 Overview

8.2 Asia Pacific Reefer Container for Pharmaceutical Market, By Container Size (2021 And 2028)

8.3 Small Containers

8.3.1 Overview

8.3.2 Asia Pacific Small Containers: Reefer Container for Pharmaceutical Market Revenue and Forecast To 2028 (US$ Million)

8.4 Medium Containers

8.4.1 Overview

8.4.2 Asia Pacific Medium Containers: Reefer Container for Pharmaceutical Market Revenue and Forecast To 2028 (US$ Million)

8.5 Large Containers

8.5.1 Overview

8.5.2 Asia Pacific Large Containers: Reefer Container for Pharmaceutical Market Revenue and Forecast To 2028 (US$ Million)

9. Asia Pacific Reefer Container for Pharmaceutical Market – Country Analysis

9.1 APAC: Reefer Container for Pharmaceutical Market

9.1.1 Overview

9.1.2 APAC Reefer Container for Pharmaceutical Market, Revenue and Forecast to 2028 (US$ million)

9.1.3 APAC Reefer Container for Pharmaceutical Market Breakdown, by Country

9.1.3.1 Australia Reefer Container for Pharmaceutical Market, Revenue and Forecast to 2028 (US$ million)

9.1.3.1.1 Australia Reefer Container for Pharmaceutical Market Breakdown, By Application Type

9.1.3.1.2 Australia Reefer Container for Pharmaceutical Market Breakdown, By Container Size

9.1.3.2 China Reefer Container for Pharmaceutical Market, Revenue and Forecast to 2028 (US$ million)

9.1.3.2.1 China Reefer Container for Pharmaceutical Market Breakdown, By Application Type

9.1.3.2.2 China Reefer Container for Pharmaceutical Market Breakdown, By Container Size

9.1.3.3 India Reefer Container for Pharmaceutical Market, Revenue and Forecast to 2028 (US$ million)

9.1.3.3.1 India Reefer Container for Pharmaceutical Market Breakdown, By Application Type

9.1.3.3.2 India Reefer Container for Pharmaceutical Market Breakdown, By Container Size

9.1.3.4 Japan Reefer Container for Pharmaceutical Market, Revenue and Forecast to 2028 (US$ million)

9.1.3.4.1 Japan Reefer Container for Pharmaceutical Market Breakdown, By Application Type

9.1.3.4.2 Japan Reefer Container for Pharmaceutical Market Breakdown, By Container Size

9.1.3.5 South Korea Reefer Container for Pharmaceutical Market, Revenue and Forecast to 2028 (US$ million)

9.1.3.5.1 South Korea Reefer Container for Pharmaceutical Market Breakdown, By Application Type

9.1.3.5.2 South Korea Reefer Container for Pharmaceutical Market Breakdown, By Container Size

9.1.3.6 Rest of APAC Reefer Container for Pharmaceutical Market, Revenue and Forecast to 2028 (US$ million)

9.1.3.6.1 Rest of APAC Reefer Container for Pharmaceutical Market Breakdown, By Application Type

9.1.3.6.2 Rest of APAC Reefer Container for Pharmaceutical Market Breakdown, By Container Size

10. Industry Landscape

10.1 Market Initiative

10.2 Merger and Acquisition

10.3 New Development

11. Company Profiles

11.1 BSL REFRIGERATED CONTAINERS

11.1.1 Key Facts

11.1.2 Business Description

11.1.3 Products and Services

11.1.4 Financial Overview

11.1.5 SWOT Analysis

11.1.6 Key Developments

11.2 CMA CGM Group

11.2.1 Key Facts

11.2.2 Business Description

11.2.3 Products and Services

11.2.4 Financial Overview

11.2.5 SWOT Analysis

11.2.6 Key Developments

11.3 Klinge Corporation

11.3.1 Key Facts

11.3.2 Business Description

11.3.3 Products and Services

11.3.4 Financial Overview

11.3.5 SWOT Analysis

11.3.6 Key Developments

11.4 DAIKIN INDUSTRIES, Ltd.

11.4.1 Key Facts

11.4.2 Business Description

11.4.3 Products and Services

11.4.4 Financial Overview

11.4.5 SWOT Analysis

11.4.6 Key Developments

11.5 Maersk Container Industry AS

11.5.1 Key Facts

11.5.2 Business Description

11.5.3 Products and Services

11.5.4 Financial Overview

11.5.5 SWOT Analysis

11.5.6 Key Developments

11.6 Evergreen Marine Corp. (Taiwan) Ltd.

11.6.1 Key Facts

11.6.2 Business Description

11.6.3 Products and Services

11.6.4 Financial Overview

11.6.5 SWOT Analysis

11.6.6 Key Developments

11.7 Seaco

11.7.1 Key Facts

11.7.2 Business Description

11.7.3 Products and Services

11.7.4 Financial Overview

11.7.5 SWOT Analysis

11.7.6 Key Developments

11.8 COSCO Shipping

11.8.1 Key Facts

11.8.2 Business Description

11.8.3 Products and Services

11.8.4 Financial Overview

11.8.5 SWOT Analysis

11.8.6 Key Developments

12. Appendix

12.1 About The Insight Partners

12.2 Word Index

LIST OF TABLES.

Table 1. Asia Pacific Reefer Container for Pharmaceutical Market, Revenue and Forecast, 2019–2028 (US$ Million)

Table 2. APAC Reefer Container for Pharmaceutical Market, Revenue and Forecast To 2028 – By Application Type (US$ million)

Table 3. APAC Reefer Container for Pharmaceutical Market, Revenue and Forecast To 2028 – By Container Size (US$ million)

Table 4. APAC Reefer Container for Pharmaceutical Market, Revenue and Forecast To 2028 – By Country (US$ million)

Table 5. Australia Reefer Container for Pharmaceutical Market, Revenue and Forecast to 2028 – By Application Type (US$ million)

Table 6. Australia Reefer Container for Pharmaceutical Market, Revenue and Forecast to 2028 – By Container Size (US$ million)

Table 7. China Reefer Container for Pharmaceutical Market, Revenue and Forecast to 2028 – By Application Type (US$ million)

Table 8. China Reefer Container for Pharmaceutical Market, Revenue and Forecast to 2028 – By Container Size (US$ million)

Table 9. India Reefer Container for Pharmaceutical Market, Revenue and Forecast to 2028 – By Application Type (US$ million)

Table 10. India Reefer Container for Pharmaceutical Market, Revenue and Forecast to 2028 – By Container Size (US$ million)

Table 11. Japan Reefer Container for Pharmaceutical Market, Revenue and Forecast to 2028 – By Application Type (US$ million)

Table 12. Japan Reefer Container for Pharmaceutical Market, Revenue and Forecast to 2028 – By Container Size (US$ million)

Table 13. South Korea Reefer Container for Pharmaceutical Market, Revenue and Forecast to 2028 – By Application Type (US$ million)

Table 14. South Korea Reefer Container for Pharmaceutical Market, Revenue and Forecast to 2028 – By Container Size (US$ million)

Table 15. Rest of APAC Reefer Container for Pharmaceutical Market, Revenue and Forecast to 2028 – By Application Type (US$ million)

Table 16. Rest of APAC Reefer Container for Pharmaceutical Market, Revenue and Forecast to 2028 – By Container Size (US$ million)

Table 17. List of Abbreviation

LIST OF FIGURES.

Figure 1. Asia Pacific Reefer Container for Pharmaceutical Market Segmentation

Figure 2. Asia Pacific Reefer Container for Pharmaceutical Market Segmentation – Country

Figure 3. Asia Pacific Reefer Container for Pharmaceutical Market Overview

Figure 4. Asia Pacific Reefer Container for Pharmaceutical Market, By Application Type

Figure 5. Asia Pacific Reefer Container for Pharmaceutical Market, By Country

Figure 6. APAC: PEST Analysis

Figure 7. Asia Pacific Reefer Container for Pharmaceutical Market Ecosystem Analysis

Figure 8. Expert Opinion

Figure 9. Asia Pacific Reefer Container for Pharmaceutical Market: Impact Analysis of Drivers and Restraints

Figure 10. Asia Pacific Reefer Container for Pharmaceutical Market, Forecast and Analysis (US$ Million)

Figure 11. APAC Reefer Container for Pharmaceutical Market Breakdown, By Application Type, 2021 & 2028 (%)

Figure 12. Asia Pacific Pharmaceutical Preparations: Reefer Container for Pharmaceutical Market Revenue and Forecast to 2028 (US$ Million)

Figure 13. Asia Pacific Injectables: Reefer Container for Pharmaceutical Market Revenue and Forecast to 2028 (US$ Million)

Figure 14. Asia Pacific Blood Derivatives: Reefer Container for Pharmaceutical Market Revenue and Forecast to 2028 (US$ Million)

Figure 15. Asia Pacific Vaccine and Serum: Reefer Container for Pharmaceutical Market Revenue and Forecast to 2028 (US$ Million)

Figure 16. Asia Pacific Others: Reefer Container for Pharmaceutical Market Revenue and Forecast to 2028 (US$ Million)

Figure 17. APAC Reefer Container for Pharmaceutical Market Breakdown, By Container Size, 2021 & 2028 (%)

Figure 18. Asia Pacific Small Containers: Reefer Container for Pharmaceutical Market Revenue and Forecast to 2028 (US$ Million)

Figure 19. Asia Pacific Medium Containers: Reefer Container for Pharmaceutical Market Revenue and Forecast to 2028 (US$ Million)

Figure 20. Asia Pacific Large Containers: Reefer Container for Pharmaceutical Market Revenue and Forecast to 2028 (US$ Million)

Figure 21. APAC Reefer Container for Pharmaceutical Market, Revenue and Forecast To 2028 (US$ million)

Figure 22. APAC Reefer Container for Pharmaceutical Market Breakdown, by Country, 2021 & 2028 (%)

Figure 23. Australia Reefer Container for Pharmaceutical Market, Revenue and Forecast To 2028 (US$ million)

Figure 24. China Reefer Container for Pharmaceutical Market, Revenue and Forecast To 2028 (US$ million)

Figure 25. India Reefer Container for Pharmaceutical Market, Revenue and Forecast To 2028 (US$ million)

Figure 26. Japan Reefer Container for Pharmaceutical Market, Revenue and Forecast To 2028 (US$ million)

Figure 27. South Korea Reefer Container for Pharmaceutical Market, Revenue and Forecast To 2028 (US$ million)

Figure 28. Rest of APAC Reefer Container for Pharmaceutical Market, Revenue and Forecast To 2028 (US$ million)

● BSL REFRIGERATED CONTAINERS

● CMA CGM Group

● Klinge Corporation

● DAIKIN INDUSTRIES, Ltd.

● Maersk Container Industry AS

● Evergreen Marine Corp. (Taiwan) Ltd.

● Seaco

● COSCO Shipping

● Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Asia Pacific reefer container for pharmaceutical market.

● Highlights key business priorities in order to assist companies to realign their business strategies.

● The key findings and recommendations highlight crucial progressive industry trends in Asia Pacific reefer container for pharmaceutical market, thereby allowing players across the value chain to develop effective long-term strategies.

● Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.

● Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the market, as well as those hindering it.

● Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.

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